Financial Advisor
Tidewater Finance Company
M&A Advisory
Tidewater Credit Services
A Subsidiary Of
Has Been Acquired By
A Brand Of
Transaction Details
- On April 28, 2020, Genesis Credit®, a brand of Genesis Financial Solutions and industry leader in the near-prime consumer financing space completed the acquisition of the operations and merchant relationships of Tidewater Credit Services (“TCS”), a subsidiary of Tidewater Finance Company
- TCS is a nationwide provider of near-prime financing and the acquisition will secure Genesis Credit’s already well-established position as the country’s leader in private-label second-look financing as well as ensure continued success to the retail partnerships Tidewater has built
- Terms of the transaction were not disclosed
About the company
Genesis Credit, a brand of Genesis Financial Solutions, Inc. is a leading provider of near-prime consumer financing solutions with over 3 million active accounts, 12 million applications processed annually, and 1,500 team members. Genesis provides top quality financing solutions and respectful service for near-prime consumers through merchant and direct-to-consumer credit card programs, including over 30 of the nation’s Top 100 furniture retailers as well as long-term partnerships with industry leaders within each of the verticals Genesis serves. Genesis’ programs offer consumers, who are typically turned down by a prime lender and represent more than 30% of the credit population, a second chance to access financing and credit cards with simple terms, competitive rates, and excellent customer service.
Sources: Transaction Press Release and Publicly Available Information.
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