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Purchasing Power® Completes $175 Million Asset-Backed Securitization

Apr 20, 2021about 4 years ago
West Palm Beach

Description

Purchasing Power, LLC, a voluntary benefit fintech company that offers the leading employee purchase program through the convenience of payroll deduction, announced today it closed a $175.34 million securitization. Purchasing Power® is majority owned by Flexpoint Ford, which acquired the business in 2016. Capital One Securities served as Sole Structuring Lead Manager and Sole Bookrunner on the transaction.

Company Information

Company

Purchasing Power

Location

West Palm Beach, Florida, United States

About

In addition, the firm manages a multi-PM equity market-neutral hedge fund and provides beta and hedging solutions for institutional clients. The company maintains affiliate offices in New York, London, Toronto and Tokyo. “The flexible financing structure enables Purchasing Power to continue to expand its core product offering, invest in new solutions for its customers and have undrawn capital in reserve,” said Ron Oertell, CFO of Purchasing Power. “Purchasing Power is a proven market leader whose history and extensive roster of corporate relationships coupled with its catalogue offering provide financial flexibility for employees and serve as a valuable benefits offering for employers,” said Jason Gelberd, Partner, Co-Head of Direct Lending, at Comvest. Helping employees achieve financial flexibility, Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies.