Winston & Strawn Represents Honor Capital Holdings in Acquisition of the Premium Finance Business of Pathward, N.A.

Winston & Strawn members of the Esoteric Structured Finance, Private Equity, M&A and Executive Compensation and Benefits practices coordinated with Structured Finance Partner Pete Morgan on a transformative transaction for client Honor Capital Holdings. The transaction doubled the size of Honor Capital’s loans under management and solidified it as a premier P&C premium finance lender.

Honor Capital entered into an Asset Purchase Agreement for the acquisition of a division of Pathward, involving the acquisition of $700 million of premium finance loans and the hiring of certain key employees. In order to effect the acquisition, (1) several series of Honor Capital’s master trust issued a few series of debt and restated its existing series of debt, (2) risk retention classes of debt were financed and (3) mezzanine corporate debt was issued.

Winston attorneys Paul Jezierny and Sofia Bonfiglio handled the asset purchase arrangement; Scott Landau and Joe Anderson facilitated the employment and benefits arrangements for the team hired form Pathward; and Sean Kelly, Eva Valik, Chris Capitanelli, Alexa Iannelli and Christian Conaty handled the financing arrangements.

Team Members:

Pete Morgan, Lead Partner & Co-Chair, Esoteric Structured Finance Practice, New York

Sean Kelly, Partner (Structured Finance, New York)

Scott Landau, Partner & Co-Chair, Employee Benefits & Executive Compensation Practice, New York

Paul Jezierny, Of Counsel (Mergers & Acquisitions, Miami)

Eva Valik, Of Counsel (Structured Finance, New York)

Joe Anderson, Associate Attorney (Employee Benefits & Executive Compensation, Chicago)

Sofia Bonfiglio, Associate Attorney (Private Equity, New York)

Chris Capitanelli, Senior Associate Attorney (Structured Finance, New York)

Christian Conaty, Associate Attorney (Structured Finance, Washington D.C.)

Alexa Iannelli, Associate Attorney (Structured Finance, New York)

Press Release:

https://pathwardfinancial.com/news/news-details/2024/Pathward-Announces-Sale-of-Commercial-Insurance-Premium-Finance-Business/default.aspx