Exclusive Financial Advisor to Cottonwood Financial in a 363 Bankruptcy Sale
- August 1, 2024
Oppenheimer & Co. Inc. acted as Exclusive Financial Advisor to Cottonwood Financial on its Acquisition by CNG Holdings via a Section 363 Bankruptcy Sale
Oppenheimer & Co. acted as the exclusive financial advisor to Cottonwood Financial (the “Company”) on its acquisition by CNG Holdings via a section 363 bankruptcy sale. Founded in 1996, Cottonwood Financial is a Texas-based consumer lending business with 181 branch locations across Texas, Wisconsin and Idaho. The Company offers a mix of short-term loan options to underbanked consumers through its brick-and-mortar “Cash Store” locations. At the time the bankruptcy the Company had 537 employees and a portfolio of $32.6M in receivables across ~43,000 active customer accounts.
CNG Holdings is a personal finance business operating under four brands including Check ‘n Go, Xact, Allied Cash Advance and Smartpay. Founded in 1994 in Covington, Kentucky as Check ‘n Go, the business started with brick-and-mortar locations and has since grown to over 300 Check ‘n Go and Allied Cash Advance retail locations.
Cliff Booth
Title:Managing Director, Head of Specialty Finance
JD Nelson
Title:Managing Director
Adam Markiewicz
Director
Christopher Conte
Associate
Ethan MacKenzie
Analyst
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