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FT Partners Advises First Associates on its Recapitalization with Stone Point and Merger with Portfolio Financial Servicing Company

Overview of Transaction

  • On July 16, 2019, First Associates Loan Servicing, LLC (First Associates) announced that funds managed by Stone Point Capital LLC (Stone Point) have acquired a majority interest in the Company, and that it has subsequently merged with Portfolio Financial Servicing Co. (PFSC)
  • Based in San Diego, CA, First Associates is among the fastest growing servicers of loan and lease portfolios in the United States
  • First Associates offers a breadth of primary, backup, call center support, and third-party collection agency services, to a wide mix of underlying asset classes through its leading, compliant technology platform
  • PFSC is a third-party private label servicer of commercial and consumer leases, loans and annuity type transactions

Significance of Transaction

  • This transaction positions First Associates well to continue to build upon years of partnerships with industry-leading clients, an ongoing commitment to excellence and a track record of delivering outstanding growth and performance
  • The combination of First Associates and PFSC will enable a superior experience for clients as a result of enabling access to complementary services and expanded asset class expertise within consumer and commercial finance

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to First Associates
  • This transaction highlights FT Partners’ versatility and expertise across the FinTech universe and represents a highly successful outcome for First Associates and its shareholders