NEW YORK, Aug. 3, 2012 /PRNewswire/ -- Flexpoint Ford, LLC, a private equity firm focused on the financial services and healthcare sectors, announced today that an affiliate of Flexpoint has acquired Jefferson Capital International ("Jefferson Capital" or "JCAP") from CompuCredit Holdings Corporation ("CompuCredit").
In conjunction with the closing of the acquisition, Jefferson Capital has extended and increased its syndicated credit facility, led by the Private Bank.
Jefferson Capital, founded in 2002 and headquartered in St. Cloud, MN with operations in Crawley, United Kingdom, is a leading national charged-off consumer debt buyer that focuses on purchasing a variety of consumer receivables for its own account. JCAP collects through both an internal collections effort as well as an extensive third-party agency network. The Company has extensive experience and expertise in a wide range of consumer receivables.
"The acquisition by Flexpoint Ford provides incremental growth capital allowing us to better serve our existing clients and expand our services to new market segments. We are excited to partner with Flexpoint, whose financial services expertise will be an asset as we expand upon our many successes. Our management team will remain in place and continue to lead the organization," said David Burton, President and CEO of Jefferson Capital.
Steve Begleiter, Senior Principal of Flexpoint Ford, commented, "We are thrilled about our investment in JCAP and the opportunity to work with an industry leader in David Burton and his management team. JCAP has performed well for CompuCredit over the years and we believe it is well positioned to thrive."
"Jefferson Capital's diversified business lines allow them to stay nimble and opportunistic in their purchases. JCAP's attractive returns on capital, along with the new financing facility and strong management team, should enable the Company to create significant value," said Michael Tyree, Vice President at Flexpoint Ford.
Kirkland & Ellis LLP acted as legal counsel to Flexpoint Ford in connection with the transaction.
About Jefferson Capital International
Jefferson Capital is an industry-leading provider of traditional and unique recovery services for consumer charged-off accounts. Clients include creditors and national debt buyers. Jefferson Capital offers services such as balance transfer credit card programs; purchasing and servicing of secured and unsecured bankruptcies, as well as traditional purchasing of distressed portfolios. Headquarters are located in St. Cloud, MN with offices in Minneapolis, Phoenix, Atlanta, and London, U.K. Please visit www.jeffersoncapitalinternational.com for more information about Jefferson Capital.
About Flexpoint Ford, LLC
Flexpoint Ford is a private equity investment firm with $1 billion under management specializing in financial services and healthcare with offices in Chicago and New York. Visit www.flexpointford.com for more information.
CONTACT: Steve Begleiter, 646-217-7572
SOURCE Flexpoint Partners, LLC
