On February 1, 2021, CURO Group Holdings Corp. (CURO) announced that it had agreed to acquire FLX Holding Corp. and its operating subsidiary, Flexiti Financial Inc. (Flexiti) for CAD $108.6 million, plus earn-out amounts of up to CAD $46.5 million. The transaction is expected to close in the first quarter of 2021 subject to receipt of regulatory, shareholder and court approvals. Through this acquisition, Flexiti will leverage CURO’s financial strength, lending expertise and leadership across the credit spectrum to strengthen its position as a leading Canadian buy-now-pay-later solution provider.
CURO is a North American market leader in providing credit to non-prime consumers through a network of stores in the U.S. and Canada and online direct-to-consumer brands.
Flexiti is one of Canada’s fastest-growing point-of-sale lenders, offering customers 0% interest financing at retailers that sell big-ticket goods like furniture, appliances, jewelry and electronics.
Osler, Hoskin & Harcourt LLP advised CURO with a team consisting of Victoria Graham, Elizabeth Sale, Joyce Bernasek (Financial Services), David Davachi, Taylor Cao (Tax), Kevin Feng (Corporate), Kristin Ali and Komil Joshi (Privacy).