A J.C. Flowers-led investor group that also includes Nowlake Technology has agreed to acquire Republic Finance, a U.S. consumer finance company, from funds advised by CVC Capital Partners.
The Phillips family, which retained a significant ownership stake during CVC’s investment, will remain an equity holder following the transaction, while Republic’s existing management team, led by Ian Rehmert, will continue to operate the business. Republic Finance has more than 70 years of experience providing consumer lending services in the United States, offering personal loans and other flexible financing products. The company operates across 17 states.
Wells Fargo served as financial advisor and Debevoise & Plimpton acted as legal counsel to Republic Finance and CVC. BMO Capital Markets served as financial advisor and Sullivan & Cromwell LLP acted as legal counsel to the investor group led by J.C. Flowers.