has been acquired by Rent-A-Center, Inc.
TRS Inc. has been acquired by Rent-A-Center, Inc. in a corporate sale and merger transaction. Goldblum Lentz & Co represented TRS as financial advisor in the aforementioned transaction
The Rental Store, Inc. (“TRS”), a leading provider of consumer lease-purchase financing through third-party retail furniture and electronics retailers, operating approximately 145 kiosk locations has been acquired by Rent-A-Center, Inc. (NASDAQ/NGS: RCII), the nation’s largest rent-to-own operator. The publicly disclosed purchase price valuation was $75.5 million cash.
Per Mark E. Speese, the Chairman and Chief Executive Officer of Rent-A-Center: “We are very excited about adding TRS to our RAC Acceptance business which we believe significantly accelerates the expansion of this growth initiative and increases our opportunities for further growth in this area,” commented. We believe this transaction will create additional value for our stockholders, adding approximately $100 million in revenue and $15 million in operating income next year.”
Goldblum Lentz & Company represented TRS as financial advisor on an exclusive basis for this transaction.