In addition, words such as “guidance,” “estimate,” “anticipate,” “believe,” “forecast,” “step,” “plan,” “predict,” “focused,” “project,” “is likely,” “expect,” “intend,” “should,” “will,” “confident,” variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements regarding projections, estimates and assumptions about the impact of the transaction on us, including our belief that the acquisition will allow us to capitalize on growth opportunities, accelerate our transition into longer term, higher balance and lower rate credit products, provide access to a larger addressable market while mitigating regulatory risk and immediately be accretive to our earnings. This press release contains forward-looking statements. The company is a proud member of the American Financial Services Association (AFSA) and currently has a 4.9 Trustpilot customer rating. With over 20 years of operating experience, CURO provides financial freedom to non-prime consumers.īased in Greenville, S.C., with offices and branch locations in the states of Alabama, Georgia, Texas, Oklahoma, South Carolina, Wisconsin, Illinois, Missouri, Indiana, Kentucky and Tennessee, Heights Finance offers short- and long-term personal loans designed to help hardworking Americans get the money they need quickly. CURO operates under a number of brands including Speedy Cash®, Rapid Cash®, Cash Money®, LendDirect®, Flexiti®, Avío Credit®, Opt+® and Revolve Finance®. CURO combines its market expertise with fully integrated technology platforms, an omni-channel approach and advanced credit decisioning to provide an array of credit products across all mediums. Their success led to opening stores across the United States, later expanding to offer online loans and financial services in the United States and Canada and now broadening into a full-spectrum consumer lender through the point-of-sale / buy-now-pay-later channel. In 1997, the Company was founded in Riverside, California by three Wichita, Kansas childhood friends to meet the growing consumer need for short-term loans.
(NYSE: CURO) serves the evolving needs of the financial consumer. The acquisition’s aggregate purchase price of $360 million represents 6.5x Heights Finance’s 2022 estimated adjusted earnings before taxes of $55 million.ĬURO's management team plans to discuss its quarterly and annual results and business outlook during its fourth quarter 2021 earnings conference call, which will be scheduled in January 2022.ĬURO Group Holdings Corp.
toward longer term, higher balance and lower rate credit products which provides the company with access to a larger addressable market while mitigating regulatory risk.”Īs previously announced, the transaction is anticipated to be immediately accretive to CURO’s earnings.
“The acquisition accelerates CURO’s strategic transition in the U.S. “The closing of this acquisition represents a key strategic milestone for CURO and we are looking forward to capitalizing on the significant growth opportunities that Heights Finance brings to our business,” said Don Gayhardt, CEO of CURO. Total consideration of $360 million is comprised of $335 million cash and $25 million of CURO common stock. and Canada, today announced that it has completed its previously announced acquisition of Heights Finance, a consumer finance company that provides installment loans and offers customary opt-in insurance and other financial products, from Milestone Partners, a private equity firm. (NYSE: CURO) (“CURO”), a tech-enabled, omni-channel consumer finance company serving non-prime and prime consumers in the U.S.
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