M&A Deal Summary

goeasy Acquires LendCare

On April 12, 2021, goeasy acquired financial services company LendCare from CIVC Partners for 320M USD

Acquisition Highlights
  • This is goeasy’s 2nd transaction in the Financial Services sector.
  • This is goeasy’s largest (disclosed) transaction.
  • This is goeasy’s 2nd transaction in Canada.
  • This is goeasy’s 1st transaction in Ontario.

M&A Deal Summary
Date 2021-04-12
Target LendCare
Sector Financial Services
Buyer(s) goeasy
Sellers(s) CIVC Partners
Deal Type Add-on Acquisition
Deal Value 320M USD
Advisor(s) National Bank Financial
Keefe, Bruyette, & Woods, Inc. (Financial)
Stikeman Elliott (Legal)

Target

LendCare

Pickering, Ontario, Canada
LendCare is a Canadian point-of-sale consumer finance and technology company, which enables 3,000 businesses to increase their revenue by providing full credit spectrum financing at the point-of-sale. LendCare is headquartered in Pickering, Ontario.

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Buyer(S) 1

Buyer

goeasy

Mississauga, Ontario, Canada
Category Company
Founded 1990
Sector Financial Services
Employees2,500
Revenue 1.3B CAD (2023)
DESCRIPTION

goeasy is a lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. The company was formerly known as easyhome Ltd. and changed its name to goeasy Ltd. in September 2015. goeasy was founded in 1990 and is based in Mississauga, Ontario.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 2 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-28 Mogo - Consumer Loan Portfolio

Vancouver, British Columbia, Canada

Mogo, Inc. - Consumer Loan Portfolio consists of $31.9 million and approximately 5,700 active customers, consisting of personal installment loans with terms of up to 5 years. The transaction also includes approximately $12.4 million of previously written off consumer loans and a commitment for Mogo to market and promote easyfinancial to its current and prospective members.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 Canada Drives

Vancouver, British Columbia, Canada

Canada Drives is an online car shopping and to-your-door delivery platform that helps customers to shop for certified used vehicles, pay in full or finance, sign all documents, and have their vehicle delivered to their doorstep as quickly as the same day. Through Canada Drives, purchasing a vehicle online saves Canadians time and money and reduces the stress and pressure often associated with car shopping. Canadians can also sell their vehicle to Canada Drives at a fair price and have the vehicle picked up as soon as the next day. Canada Drives was formed in 2010 and is based in Vancouver, British Columbia.

Buy -

Seller(S) 1

SELLER

CIVC Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1970
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.

DEAL STATS #
Overall 44 of 48
Sector (Financial Services) 7 of 7
Type (Add-on Acquisition) 13 of 14
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-11 iVision

Atlanta, Georgia, United States

iVision is a managed services and technology consulting provider for mid-market and enterprise clients. iVision provides infrastructure and application solutions, and it is organized into five complementary practices, including Infrastructure Services, Data Center, Converged Network, and Application Development - all supported by the Delivery Assurance practice. iVision was founded in 2004 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-21 KeyData

Toronto, Ontario, Canada

KeyData is a provider of cybersecurity services focused on Privileged Access Management (PAM), Identity and Access Management (IAM), and Consumer IAM (CIAM), both on-premise and cloud-based. KeyData provides consulting and advisory services, system integration services, managed services, cloud-based identity services, and training services and is also a software reseller for the leading technologies in this space. KeyData was established in 2005 and is based in Toronto, Ontario.

Buy -
Mergr

Product

Company

Legal