Deluxe Corporation acquired First Manhattan Consulting Group LLC for $200 million.
January 05, 2017
Share
Deluxe Corporation (NYSE:DLX) acquired First Manhattan Consulting Group LLC for $200 million on December 30, 2016. The consideration is subject to customary adjustments. The acquisition was financed through the existing revolving credit facility and an expansion of the credit facility term loan which has been increased to $330 million. The amended credit agreement increased the existing term loan facility by $130 million and the proceeds of the increased term loan facility were used to fund the acquisition. The deal is expected to be slightly dilutive to 2017 earnings per share by approximately $0.05 per share for the full year. First quarter 2017 EPS dilution of approximately $0.07 per share is expected. Sanjay Chadda, John Prunier and Colleen Filipo of Petsky Prunier Securities, LLC acted as financial advisors to Deluxe Corporation. Faegre Baker Daniels LLP acted as a legal advisor to Deluxe Corporation. America's Growth Capital, LLC acted as a financial advisor to First Manhattan Consulting Group LLC and Johan (Hans) Brigham of Latham & Watkins LLP acted as a legal advisor to First Manhattan Consulting Group LLC. PALAZZO Investment Bankers acted as financial advisor to Deluxe Corporation
Deluxe Corporation (NYSE:DLX) completed the acquisition of First Manhattan Consulting Group LLC on December 30, 2016.
Deluxe Corporation is a payments and data company. The Companyâs segments include Merchant Services, B2B Payments, Data Solutions, and Print. The Merchant Services segment provides electronic credit and debit card authorization and payment systems and processing services primarily to small and medium-sized retail and service businesses. The B2B Payments segment provides treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing and paperless treasury management, as well as fraud and security services and Deluxe Payment Exchange. The Data Solutions segment provides data-driven marketing solutions, including digital engagement, financial institution profitability reporting and account switching tools, and business incorporation services. The Print segment provides printed personal and business checks, printed business forms, business accessories and promotional products.
DELUXE CORPORATION 
