Project Helios — Buyer Universe

Sell-Side

10 buyers across specialty finance strategics and financial sponsors

EV Estimate

$216M

EBITDA

$27M

Implied Multiple

~8x

Advisory Fee

10% NCA

"We just hope to get 8x. Meanwhile public companies are trading for 15x. They think the nature of their business (high interest loans to lower economic consumers) will dampen the desire to own it."
— Hugo, Loan Mart owner-operator
Hugo's discount assumption is contradicted by public comps. The spread between his 8x floor and the 15x market rate is the deal opportunity. Our buyer outreach leads with that gap.

Strategic Buyers

Public and private operators with direct asset-class exposure or adjacent consumer lending platforms

World Acceptance Corporation (WRLD)

Public Specialty Finance

Largest US small-loan consumer finance operator. Direct comp; knows the asset class cold. Hugo's "public companies at 15x" comment likely references them.

Thesis: Accretive store count + overlapping geography

CURO Group (formerly Speedy Cash)

Public Specialty Finance

Multi-brand consumer finance platform. Vertically adjacent — same customer, different product.

Thesis: Product diversification into title lending

TMX Finance (TitleMax)

Private Specialty Finance

Dominant title-lender. JLL Partners portfolio. Would buy to kill competition or enter new markets.

Thesis: Direct competitor consolidation play

Community Choice Financial

Private Specialty Finance

Multi-state payday + title lender, PE-backed. Known roll-up acquirer in this exact segment.

Thesis: Add-on acquisition to existing platform

QC Holdings

Specialty Finance

Multi-state lending platform operator. Acquisitive history in consumer finance.

Thesis: Geographic expansion

Financial Sponsors

PE funds and credit investors with specialty finance mandates or yield-first acquisition criteria

JLL Partners

Private Equity

Owns TitleMax/TMX Finance. Deep specialty finance expertise. Would model Loan Mart as add-on or standalone.

Thesis: Vertical roll-up expertise

Prospect Capital Corporation

BDC / Private Equity

Has deployed into specialty finance lending businesses. BDC structure creates unique buyer dynamics.

Thesis: Yield-focused buyer; appreciates cash generation

Carousel Capital

Private Equity

Southeast-focused PE with consumer services and financial services experience.

Thesis: Geographic overlap; proven operator of consumer businesses

Bain Capital Credit

Credit Private Equity

Asset-heavy financial services platform investments. Title lending is an asset-heavy balance sheet business.

Thesis: Balance sheet + operations expertise

Warburg Pincus

Growth Private Equity

Consumer financial services is a stated investment theme. Would require compliance modernization story.

Thesis: Tech-enabled upgrade play + regulatory arbitrage

Strategic Notes

Hugo believes the high-interest / lower-income customer profile will dampen buyer enthusiasm — but public comps at 15x tell a different story. The gap between his expectations and market pricing is the opportunity we center the process around.
The HR.com deal (domain buyer, separate engagement) is entirely unrelated to this transaction. ATM Holdings is a co-advisor on HR.com only — not involved here.
JLL Partners appears on both lists: as a PE sponsor and as the owner of TMX Finance (strategic). Model them as a single coordinated decision, not two independent tracks.

Buyer profiles scaffolded from deal type research. Hunter waterfall for direct contacts pending (fixlater #232). Public company data (WRLD, CURO) current as of Q2 2026; confirm before outreach.