FT Partners Advises GreenSky on its $2,240,000,000 sale to Goldman Sachs
Overview of Transaction
- On September 15, 2021, Goldman Sachs (NYSE: GS) announced it has entered into a definitive agreement to acquire GreenSky (NASDAQ: GSKY) in an all-stock transaction valued at approximately $2.24 billion
- GreenSky stockholders will receive an implied price of $12.11 per share
- The transaction price represents a premium of 56% over the closing share price of GreenSky common stock as of September 14, 2021
- GreenSky is a leading FinTech company that powers commerce at the point of sale; the Company’s technology platform facilitates merchants’ sales, while reducing the friction, and improving the economics, associated with a consumer making a purchase and a bank extending financing for that purchase
- GreenSky has a growing network of over 10,000 merchants on its platform enabling >4 million consumers to finance over $30 billion of transactions since its inception through June 30, 2021
Significance of Transaction
- GreenSky’s differentiated lending capabilities and market-leading merchant and consumer ecosystem will enhance Goldman Sachs’s ability to create the consumer banking platform of the future
- This transaction further supports FT Partners’ continued success advising leading FinTech growth companies and also highlights the long-term nature of many of the Firm’s advisory relationships
FT Partners' Role
- FT Partners served as financial and strategic advisor to GreenSky in this transaction
- FT Partners previously advised GreenSky on its $1.1 billion IPO, its $300 million investment by TPG, Iconiq, Wellington, and DST in 2014, its $2 billion loan purchase agreement and $50 million investment by Fifth Third Bank in 2016, and its $200 million investment by PIMCO in 2017