M&A Deal Summary

Summit Partners Acquires Snap Finance

On January 1, 2019, growth capital firm Summit Partners acquired financial services company Snap Finance

Acquisition Highlights
  • This is Summit Partners’ 12th transaction in the Financial Services sector.
  • This is Summit Partners’ 281st transaction in the United States.
  • This is Summit Partners’ 7th transaction in Utah.

M&A Deal Summary
Date 2019-01-01
Target Snap Finance
Sector Financial Services
Buyer(s) Summit Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Snap Finance

Salt Lake City, Utah, United States
Snap Finance is a provider of point-of-sale, virtual rent-to-own (“vRTO”) financing programs. The company’s vRTO lease programs help to facilitate consumer purchases of larger ticket items such as furniture, mattresses and bedding, auto wheels and tires, jewelry, and electronics. Snap Finance was founded in 2012 and is based in Salt Lake City, Utah.

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Buyer(S) 1

Buyer

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 326 of 387
Sector (Financial Services) 12 of 14
Type (Buyout (LBO, MBO, MBI)) 72 of 80
State (Utah) 7 of 7
Country (United States) 281 of 320
Year (2019) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Allego

Waltham, Massachusetts, United States

Allego is a provider of SaaS platform used by enterprise sales teams to deliver continuous, personalized, video-based training. Allego’s mobile-first platform is designed to drive faster onboarding, enhanced engagement, better long-term knowledge retention and improved customer interactions. Allego is based in Waltham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 Patriot Growth Partners

Ft. Washington, Pennsylvania, United States

Patriot Growth Partners is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. The company's collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. It creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot Growth Partners was founded in 2019 and is based in Ft. Washington, Pennsylvania.

Buy -
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