Sale of Fortress Group

Fortress Group logo

PEMCF acted as lead advisers to the shareholders on the disposal of the Company to Think Finance, one of the US’s fastest growing private companies that has served over 1 million customers.  As part of the deal we helped to secure additional capital to support Fortress’s expansion.

Company background

Fortress, founded in 2007, has grown rapidly to become one of the UK’s leading online payday lending businesses. Trading under the brand names 1 Month Loan and Mayday Payday, Fortress provides short term unsecured loans to private individuals known as payday loans as they are intended to be repaid on payday. Such loans have high interest rates but their cost compares favourably to unauthorized overdraft facilities and they are much easier to access than bank finance. For the customers they are convenient and confidential.

The company is privately held and backed by some of Silicon Valley’s most respected venture capital firms, including Sequoia Capital and Technology Crossover Partners. 

What was special

PEMCF were appointed to undertake an international marketing of Fortress to ensure the business was exposed to as many strategic buyers as possible. There was substantial interest in the transaction as a result and a number of offers were received for the business from American and European buyers. This highlights the ability of PEMCF to attract interest in UK companies from a worldwide audience.

Deal structure

This was a normal sale of shares to a large corporate buyer.

 

Read the press release

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