Banc of California Mergers & Acquisitions RenovationReady® LLC
Completion Date January 31, 2014
Deal Overview
Buyer: Banc of California, Inc.
Target: RenovationReady® LLC
Deal Type: Specialty Finance Company
Agreement Date: 1/31/2014
Announcement Date: 1/31/2014
Announced Deal Value ($ M): 3.00
Status: Completed
Completion Date: 1/31/2014
Consideration Breakout
Cash ($M): 1.0
Common Stock ($M): 1.0
Contingent Payments ($M): 1.0
Deal Terms
Banc of California Inc. paid $1.0 million in cash and $1.0 million in common stock to acquire certain assets, including service contracts and intellectual property from Centennial of RenovationReady LLC. In addition to this, Banc of California will also make an earn-out payment of up to $1.0 million based on the future performance.
Percent Acquired (%): NA
Purchase Method: Acquisition
Merger of Equals? No
Estimated Cost Savings (%): NA
Estimated Cost Savings ($ 000): NA
Est. Restructuring Charges ($ 000): NA
