M&A Deal Summary

Parthenon Capital Acquires Coastal Credit

On February 14, 2013, private equity firm Parthenon Capital acquired financial services company Coastal Credit from White River Capital

Acquisition Highlights
  • This is Parthenon Capital’s 7th transaction in the Financial Services sector.
  • This is Parthenon Capital’s 35th transaction in the United States.
  • This is Parthenon Capital’s 2nd transaction in Indiana.

M&A Deal Summary

Date 2013-02-14
Target Coastal Credit
Sector Financial Services
Buyer(s) Parthenon Capital
Sellers(s) White River Capital
Deal Type Divestiture

Target

Coastal Credit

Indianapolis, Indiana, United States
Coastal Credit is a subprime auto finance company that acquires and services auto receivables from both independent and franchised dealers. Coastal operates in both the military and civilian markets across 27 U.S. states. Coastal Credit was founded in 1984 and is based in Indianapolis, Indiana.

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Buyer(S) 1

Buyer

Parthenon Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 5.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $75 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.


DEAL STATS #
Overall 35 of 63
Sector: Financial Services M&A 7 of 13
Type: Divestiture M&A Deals 3 of 4
State: Indiana M&A 2 of 3
Country: United States M&A 35 of 62
Year: 2013 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-14 White River Capital

Rancho Santa Fe, California, United States

White River Capital, Inc. is a financial services holding company.

Buy $80M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-12 eSecLending

Boston, Massachusetts, United States

eSecLending is an independent securities lending agent providing customized securities lending, auction and collateral management solutions for institutional investors worldwide. eSecLending was founded in 2000 and is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

White River Capital

Rancho Santa Fe, California, United States

Category Company
Founded 1987
Sector Financial Services
Revenue 9M USD (2013)
DESCRIPTION

White River Capital, Inc. is a financial services holding company.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Indiana M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-31 Coastal Credit

Indianapolis, Indiana, United States

Coastal Credit is a subprime auto finance company that acquires and services auto receivables from both independent and franchised dealers. Coastal operates in both the military and civilian markets across 27 U.S. states. Coastal Credit was founded in 1984 and is based in Indianapolis, Indiana.

Buy -