Lightyear, Ontario Teachers’ to buy Lendmark Financial Services
U.S private equity firm Lightyear Capital and Ontario Teachers’ Pension Plan have agreed to acquire Lendmark Financial Services LLC, a Lawrenceville, Georgia-based consumer finance platform. Terms weren't released for the deal, which is expected to close later this year. Reuters previously reported the transaction's value at US$600 million, excluding debt. The seller is Blackstone Group, which acquired Lendmark in 2013 from BB&T Corp. Established in 1996, Lendmark provides both direct consumer installment loans and sales finance (retail) products to borrowers.
27 June 2019•4 mins read
