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M&A Deal Summary

PROG Holdings Acquires Purchasing Power

On December 1, 2025, PROG Holdings acquired financial services company Purchasing Power from Flexpoint Ford for 420M USD

Acquisition Highlights
  • This is PROG Holdings’ 2nd transaction in the Financial Services sector.
  • This is PROG Holdings’ largest (disclosed) transaction.
  • This is PROG Holdings’ 2nd transaction in the United States.
  • This is PROG Holdings’ 1st transaction in Georgia.

M&A Deal Summary
Date 2025-12-01
Target Purchasing Power
Sector Financial Services
Buyer(s) PROG Holdings
Sellers(s) Flexpoint Ford
Deal Type Add-on Acquisition
Deal Value 420M USD
Advisor(s) Barclays Investment Bank (Financial)
Kirkland & Ellis (Legal)

Target

Purchasing Power

Atlanta, Georgia, United States
Purchasing Power is a voluntary benefits provider for employers, whose services enable employees to purchase large ticket items such as computers, electronics, appliances, and furniture through a monthly payroll deduction. Purchasing Power was founded in 2001 and is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

PROG Holdings

Draper, Utah, United States
Category Company
Founded 1955
Sector Financial Services
Employees1,403
Revenue 2.5B USD (2024)
DESCRIPTION

PROG Holdings is a fintech holding company that provides transparent and competitive payment options to credit-challenged consumers. PROG Holdings was founded in 1955 and is based in Draper, Utah.

DEAL STATS #
Overall 2 of 2
Sector: Financial Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Georgia M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-13 Four

Miami, Florida, United States

Four is a financial technology company that provides consumers with Buy Now, Pay Later (BNPL) solutions. Four, allows retailers to provide greater payment flexibility to shoppers through the option to pay for merchandise through four interest-free installments while enhancing the retailers’ revenues through increased transaction volume and ticket size. Four was founded in 2018 and is based in Miami, Florida.

Buy -

Seller(S) 1

SELLER

Flexpoint Ford

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 7.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Flexpoint Ford is a private equity firm focused on investments in healthcare and financial services companies. Flexpoint prefers control based investments and looks to commit $50 to $500 million per transaction. The Firm is flexible when it comes to investment structure and asset class. Flexpoint Ford was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 23 of 23
Sector: Financial Services M&A 6 of 6
Type: Add-on Acquisition M&A Deals 13 of 13
State: Georgia M&A 1 of 1
Country: United States M&A 23 of 23
Year: 2025 M&A 2 of 2
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-16 Keystone Agency Partners

Harrisburg, Pennsylvania, United States

Keystone Agency Partners is an insurance brokerage platform that acquires and partners with independent insurance agencies. Keystone Agency Partners was founded in 2020 and is based in Harrisburg, Pennsylvania.

Sell -
Mergr

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