M&A Deal Summary

Community Choice Financial Acquires California Check Cashing Stores

On April 29, 2011, Community Choice Financial acquired financial services company California Check Cashing Stores from Golden Gate Capital

Acquisition Highlights
  • This is Community Choice Financial’s 1st transaction in the Financial Services sector.
  • This is Community Choice Financial’s 1st transaction in the United States.
  • This is Community Choice Financial’s 1st transaction in California.

M&A Deal Summary

Date 2011-04-29
Target California Check Cashing Stores
Sector Financial Services
Buyer(s) Community Choice Financial
Sellers(s) Golden Gate Capital
Deal Type Add-on Acquisition

Target

California Check Cashing Stores

Oakland, California, United States
California Check Cashing Stores, LLC is a leading retailer of alternative financial services including check cashing, short-term consumer loans ('payroll advance'), wire transfers and bill payment services. The Company focuses on serving unbanked and underbanked consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to cash.

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Buyer(S) 1

Buyer

Community Choice Financial

Dublin, Ohio, United States

Category Company
Sector Financial Services
DESCRIPTION

Community Choice Financial focuses on serving the growing market of unbanked and underbanked consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to cash. Products include check cashing, short-term consumer loans (“payroll advance”), wire transfers and bill payment services. CCFI is headquarterd in Dublin, OH and currently operates 433 stores across 14 states.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2011 M&A 1 of 1

Seller(S) 1

SELLER

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.


DEAL STATS #
Overall 25 of 86
Sector: Financial Services M&A 2 of 6
Type: Add-on Acquisition M&A Deals 12 of 39
State: California M&A 10 of 19
Country: United States M&A 22 of 78
Year: 2011 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-01 Community Choice Financial

Dublin, Ohio, United States

Community Choice Financial focuses on serving the growing market of unbanked and underbanked consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to cash. Products include check cashing, short-term consumer loans (“payroll advance”), wire transfers and bill payment services. CCFI is headquarterd in Dublin, OH and currently operates 433 stores across 14 states.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-25 California Pizza Kitchen

Costa Mesa, California, United States

California Pizza Kitchen is a casual dining chain featuring an imaginative line of hearth-baked pizzas, including the original BBQ Chicken Pizza, and a broad selection of distinctive pasta, salads, appetizers, soups, sandwiches, and desserts. California Pizza Kitchen was founded in 1985 and is based in Costa Mesa, California.

Buy $470M