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New Deal


Announced

Completed

Genesis Credit completed the acquisition of Tidewater Credit from Tidewater Finance.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

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Friendly

Completed

Acquisition

Majority

United States

Private

near-prime financing

Consumer Lending

Single Bidder

Synopsis

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Genesis Credit, a brand of Genesis Financial Solutions, that provides near-prime consumer financing solutions, completed the acquisition of Tidewater Credit, a nationwide provider of near-prime financing, from Tidewater Finance, a nationwide special finance provider. Financial terms were not disclosed. "We are thrilled at the opportunity to welcome Tidewater Credit's merchant relationships to the Genesis Credit family. With both organizations offering industry-leading programs and platform technology solutions, along with a strong commitment to excellent customer service, the transition of Tidewater's merchant relationships will be without disruption and seamless," Mark Denman, Genesis Credit President.

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