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New Deal


Announced

Completed

MVB Financial completed the acquisition of Warp Speed Holdings for $48m.

Financials

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Transaction Value£36m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Diversified Financials

Majority

Friendly

Domestic

United States

Private

financial services platform

Acquisition

Single Bidder

Completed

Synopsis

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MVB Financial, a bank holding company, completed the acquisition of Warp Speed Holdings, a horizontally integrated financial services platform focused on residential and commercial loan origination and servicing, title insurance services, business and personal insurance brokerage and data analytics to optimize business decisions in real time, for $48m. "This investment is a continued extension of our partnership model with leading financial service providers that focus on using technology to deliver a superior customer experience and attractive financial results. We are impressed with what founders Josh Erskine and Shane Erskine and their team have built to date and believe Warp is just beginning to scratch the surface of its potential," Larry F. Mazza, MVB CEO.

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