Western Capital Resources, Inc. completed the acquisition of George W. Park Seed Company, Inc. and Van Dyke's Restorers, Inc. and J&P Real Estate, LLC.
July 01, 2015 at 05:00 am
Share
Western Capital Resources, Inc. (OTCPK:WCRS) entered into a merger and contribution agreement to acquire George W. Park Seed Company, Inc., Van Dyke's Restorers, Inc. and J&P Real Estate, LLC from Blackstreet Capital Management, LLC for $14.7 million on June 9, 2015. Western Capital expects to issue up to 3.5 million shares of its common stock as consideration. The closing of the transactions is subject to a post-signing due-diligence period and certain other customary conditions. The closing of the transaction is expected to occur on or around July 1, 2015. Duff & Phelps acted as financial advisor and fairness opinion provider for Western Capital Resources, Inc. Christopher S. Harrison of Schulte Roth & Zabel LLP acted as legal advisor for Duff & Phelps.
Western Capital Resources, Inc. (OTCPK:WCRS) completed the acquisition of George W. Park Seed Company, Inc., Van Dyke's Restorers, Inc. and J&P Real Estate, LLC from Blackstreet Capital Management, LLC on July 1, 2015.
Western Capital Resources, Inc. is a holding company. The Company's segments are Cellular Retail, Direct to Consumer, Manufacturing and Consumer Finance. The Cellular Retail segment consists of an authorized Cricket Wireless dealer and involves the retail sale of cellular phones and accessories to consumers through its subsidiary PQH Wireless, Inc. and its subsidiaries. The Direct to Consumer segment consists of an online and direct marketing retailer and distributor of live plants, seeds, holiday gifts and garden accessories under the Jackson & Perkins, Park Seed and Wayside Gardens brands, and home improvement and restoration products operating under the Van Dyke's Restorers brand. The Manufacturing segment consists of Swisher Acquisition, Inc., a manufacturer of lawn and garden power equipment and emergency safety shelters. The Consumer Finance segment consists of retail financial services conducted through its subsidiaries, Wyoming Financial Lenders, Inc. and Express Pawn, Inc.
Western Capital Resources, Inc. completed the acquisition of George W. Park Seed Company, Inc. and Van Dyke's Restorers, Inc. and J&P Real Estate, LLC.