Onyx Acceptance Corporation
Onyx Acceptance Corporation offered specialized automobile financing services to franchised and select independent dealerships in the United States. RA Capital was engaged by Onyx’s board to help evaluate a takeover proposal it received from Capital One.
After consulting with RA Capital and jointly conducting an extensive strategic alternatives review, the board of Onyx Corporation elected to accept Capital One’s proposal. The resulting transaction was valued at $193.0 million and combined Capital One Auto Finance and their direct to consumer model with Onyx and their network of auto dealers to provide point of sale financing.
- Industry: Financial Services
- Deal Type: Sell-Side, Fairness Opinion
- Location: Foothill Ranch, CA