Titan Financial Group

One of the largest independent small-loan consumer finance operations in the U.S., the Company served approximately 70,000 customer accounts through 107 retail branch offices located in Georgia, South Carolina and Texas.

Engagement Goals

Brookwood Associates advised Titan, including its private equity owner Richards Capital Fund, on the sale of its Texas assets, as well as the sale of its Georgia and South Carolina assets via Section 363 of the U.S. Bankruptcy Code.

Engagement Process and Outcomes

The Challenge – In response to operating losses and issues with its creditors, Titan elected to pursue a refinancing and/or sale of the business.  Brookwood created financial models and marketing materials in order to efficiently determine the Company’s options.  The result of the preliminary phase of work was the sale of Titan’s Texas operations.

Bankruptcy Phase – Despite the divestiture, Titan ultimately elected to file for bankruptcy protection.  A transaction needed to happen quickly in order to preserve value.  Under tight time constraints, Brookwood marketed the business to approximately 150 financial and strategic buyers.  The sale to an industry buyer was consummated within five weeks of the bankruptcy filing.

Strong Marketing and Result – Brookwood led a broad marketing process that included numerous strategic companies and private equity groups focused on consumer finance investments. The process ultimately resulted in a sale of the Texas assets to Western Shamrock Corporation and a sale of the Georgia and South Carolina assets to World Acceptance Corporation, two of the leading consumer finance operations in the U.S.



Press Release Excerpt

We are pleased to announce that Brookwood Associates advised Titan Financial Group on the sale of its assets via Section 363 of the Bankruptcy Code to a strategic acquiror. Titan is a leading consumer finance company providing small loans to sub-prime consumers. The Titan situation illustrates Brookwood’s ability to assist companies in financial distress.

Pursuing Options for Financially Distressed Companies – In response to operating losses and issues with its creditors, Titan elected to pursue a refinancing and/or sale of the business. Brookwood created financial models and marketing materials in order to efficiently determine the Company’s options. The result of the preliminary phase of work was the sale of Titan’s Texas operations.

Bankruptcy Phase – Despite the divestiture, Titan ultimately elected to file for bankruptcy protection. A transaction needed to happen quickly in order to preserve value. Under tight time constraints, Brookwood marketed the business to approximately 150 financial and strategic buyers. The sale to an industry buyer was consummated within five weeks of the bankruptcy filing.

We recognize that, despite the generally strong economic, financial and M&A environments, some of our clients and referral sources need our banktuptcy and restructuring services today. We look forward to talking with you about these distressed situations, in addition to our work involving healthy company mergers, acquisitions, financings and fairness opinions.