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  5. NetSpend Holdings Acquires Skylight Financial

M&A Deal Summary

NetSpend Holdings Acquires Skylight Financial

On June 30, 2008, NetSpend Holdings acquired business services company Skylight Financial from GTCR

Acquisition Highlights
  • This is NetSpend Holdings’ 1st transaction in the Business Services sector.
  • This is NetSpend Holdings’ 1st transaction in the United States.
  • This is NetSpend Holdings’ 1st transaction in Georgia.

M&A Deal Summary
Date 2008-06-30
Target Skylight Financial
Sector Business Services
Buyer(s) NetSpend Holdings
Sellers(s) GTCR
Deal Type Add-on Acquisition

Target

Skylight Financial

Atlanta, Georgia, United States
Skylight Financial, Inc. is a leading provider of checkless bank accounts and payroll cards to individuals who do not have traditional banking accounts. There are tens of millions of these unbanked or underbanked individuals in the United States, many of whom may never have had a bank account, or may have been underserved or rejected by the traditional banking system. Skylight Financial is headquartered in Atlanta, Georgia, and is led by O.G. Greene.

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Buyer(S) 1

Buyer

NetSpend Holdings

Austin, Texas, United States
Category Company
Founded 1999
Sector Financial Services
Revenue 306M USD (2011)
DESCRIPTION

NetSpend Holdings, Inc. is a provider of reloadable prepaid debit cards and related financial services.

DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Georgia M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2008 M&A 1 of 1

Seller(S) 1

SELLER

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 26 of 87
Sector: Business Services M&A 4 of 8
Type: Add-on Acquisition M&A Deals 14 of 41
State: Georgia M&A 4 of 5
Country: United States M&A 26 of 84
Year: 2008 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-08 IQNavigator

Centennial, Colorado, United States

IQNavigator is a provider of services procurement and optimization solutions. IQNavigator’s vendor-neutral Managed Service Programs (MSP) and SaaS services procurement platform enables companies to source, procure, manage and measure all categories of indirect services on a global basis. The data and processes available through IQNavigator’s platform allow clients to realize potential cost savings, efficiency gains, improved compliance, faster fulfillment times and better reporting capabilities. IQNavigator was established in 1999 and is based in Centennial, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-16 ExcelusHR

Yardley, Pennsylvania, United States

Excelus is a company focused on acquiring technology-based businesses in the human resources information and services, compliance and risk mitigation industries.

Buy -
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