J.C. Flowers & Co. LLC, a private investment firm dedicated to investing globally in the financial services industry, and its affiliates announced that it has completed the acquisition of Jefferson Capital International, one of the five largest purchasers and servicers of charged-off and bankruptcy consumer debt in the United States, from Flexpoint Ford, LLC. Terms of the transaction were not disclosed.
“The acquisition by J.C. Flowers will allow us to maintain a high level of service to our clients, expand our value-added service offerings and continue to invest in industry leading compliance practices,” said David Burton, President and CEO of Jefferson Capital. “We are excited to partner with J.C. Flowers, whose financial services expertise will be an asset as we expand upon our more than 15 years of consecutive growth. Our entire management team will remain in place and continue to lead the organization.”
“Jefferson Capital is a leader in its niche markets with solid growth potential and is committed to industry-leading compliance practices,” said Tom Harding of J.C. Flowers. “We are thrilled about collaborating with David Burton and their outstanding management team to extend the reach of the business. We believe J.C. Flowers’ vast experience with financial services around the globe will help enhance Jefferson Capital’s services.”
Steve Begleiter, Managing Director of Flexpoint Ford, commented, “It has been a privilege to work with David Burton and his entire team at Jefferson Capital. Since we invested in Jefferson Capital in 2012, the team has done a tremendous job growing the business into an industry-leading platform with a diversified portfolio, strong client relationships and proprietary capabilities. We believe the Company is well positioned under J.C. Flowers to enter into its next chapter of growth, and we look forward to following the Company’s future success.”
Weil, Gotshal & Manges LLP acted as legal counsel to J.C. Flowers in connection with the transaction. Keefe, Bruyette & Woods and SunTrust Robinson Humphrey acted as financial advisors and Kirkland & Ellis LLP acted as legal counsel to Jefferson Capital in connection with the transaction. In conjunction with the closing of the acquisition, Jefferson Capital will amend its $250 million syndicated credit facility, led by CIBC.