M&A Deal Summary

Encore Acquires Asset Acceptance Capital

On June 13, 2013, Encore acquired financial services company Asset Acceptance Capital from Quad-C Management for 200M USD

Acquisition Highlights
  • This is Encore’s 3rd transaction in the Financial Services sector.
  • This is Encore’s largest (disclosed) transaction.
  • This is Encore’s 2nd transaction in the United States.
  • This is Encore’s 1st transaction in Michigan.

M&A Deal Summary

Date 2013-06-13
Target Asset Acceptance Capital
Sector Financial Services
Buyer(s) Encore
Sellers(s) Quad-C Management
Deal Type Add-on Acquisition
Deal Value 200M USD
Advisor(s) William Blair (Financial)

Target

Asset Acceptance Capital

Warren, Michigan, United States
Asset Acceptance Capital Corp. is a provider of credit originators such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt.

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Buyer(S) 1

Buyer

Encore

San Diego, California, United States

Category Company
Founded 1999
Sector Financial Services
Employees7,400
Revenue 1.2B USD (2023)
DESCRIPTION
Entrance to Encore Capital Group's corporate headquarters in San Diego, California.
Entrance to Encore Capital Group's corporate headquarters in San Diego, California.

Encore is a purchaser and manager of charged-off consumer receivable portfolios. Through its wholly owned subsidiary Ascension Capital Group, Inc., Encore also is a provider of bankruptcy services to the finance industry. Encore acquires receivable portfolios at deep discounts from their face values using a proprietary valuation process that is based upon an analysis of the individual consumer attributes of the underlying accounts Encore was founded in 1999 and is based in San Diego, California.


DEAL STATS #
Overall 3 of 8
Sector (Financial Services) 3 of 8
Type (Add-on Acquisition) 2 of 5
State (Michigan) 1 of 1
Country (United States) 2 of 4
Year (2013) 2 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-15 Cabot Credit Management

West Malling, United Kingdom

Cabot Credit Management is a provider of acquirer and manager of consumer debt. Cabot Credit Management was founded in 2011 and is based in West Malling, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-08 Pure360

Brighton, United Kingdom

Pure360 is a progressive email marketing company involved in providing direct digital marketing, improving customer ROI via email and SMS marketing campaigns to customers such as innocent drinks, Seatwave, The FT Group, Rightmove, Zoopla and LA Fitness. Pure360 was established in 2001 and is based in Brighton, United Kingdom.

Sell £11M

Seller(S) 1

SELLER

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 3.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.


DEAL STATS #
Overall 20 of 47
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 5 of 13
State (Michigan) 1 of 2
Country (United States) 18 of 42
Year (2013) 1 of 2
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-01 EFC International

St. Louis, Missouri, United States

EFC International is a distributor of highly-engineered specialty fasteners to the automotive and industrial end-markets. EFC International was founded in 1983 and is based in St. Louis, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-05 Worldwide Express

Dallas, Texas, United States

Worldwide Express is a provider of third-party logistics services, including small parcel, LTL, FTL, and air freight shipping services to small and medium-sized businesses through a national presence of company-owned and franchise locations. Worldwide Express was established in 1995 and is based in Dallas, Texas.

Buy -