The Situation

Having opened five locations in the Twin Cities, Moneycenter was at a crossroads: any expansion would require establishing or acquiring new locations—a time-consuming and expensive process subject to increasingly restrictive zoning and other regulatory constraints.

The Transaction

Teneca approached a select number of potential strategic and financial buyers. Having received an offer from a strategic buyer that was below the company’s expectations, we provided additional analysis, overlaying our client’s performance metrics on the buyer’s cost structure, demonstrating the synergistic impact of the potential acquisition to the buyer’s financial results.

The Result

We were able to obtain a significant increase in the purchase price, more than doubling the initial offer and resulting in the successful sale of Moneycenter to Ace Cash Express, a leading national retailer of financial services.