Imperial Holdings sells structured settlements business
BOCA RATON, FL — Imperial Holdings, Inc. announced today they have sold their Structured Settlements business operations to an entity managed by Blackstone Tactical Opportunities for $12 million. (1)
According to the company’s press release, the transaction will provide the company with a cash infusion as the focus on their efforts on the life settlements industry. (1)
Since going public back in 2011, Imperial has been plagued with shareholder turmoil, regulatory investigations, and legal problems. (2)
Coincidentally, the company is exiting the structured settlement business as the JGWPT Holdings Inc., the holding entity of industry competitors J.G. Wentworth and Peachtree Financial Solutions is seeking as much as $268.4 million in an initial public offering.(3)
Sources:
- http://finance.yahoo.com/news/imperial-holdings-sells-structured-settlements-125500190.html
- http://www.bizjournals.com/southflorida/news/2012/12/19/imperial-holdings-settles-class-action.html
- http://www.businessweek.com/news/2013-10-28/j-dot-g-wentworth-operator-seeks-up-to-268-million-in-u-dot-s-dot-ipo