Vernick Financial Services (“Vernick” or the “Company”) is an independent consumer finance company, specializing in the purchase of retail installment and revolving sales contracts originated by independent dealers.
The Company was founded by Richard and Lois Vernick in 1968, and remains family owned today.
The Company was constrained by limitations imposed by its existing capital structure.
Amherst Partners (“Amherst”) was engaged by the Company’s owners to identify and explore strategic alternatives related to funding anticipated growth and, potentially, creating liquidity for shareholders.
After assessing strategic alternatives, the shareholders asked Amherst to assist in sourcing a new senior debt facility.
Level One Bank was selected to provide a senior debt facility sufficient to fund the Company’s anticipated growth, including expanding core operations.
In addition, the Board of Directors created an Executive Advisory Committee to provide on-going guidance and support to management as the Company grows.
Amherst continues to function as an advisor to Vernick by virtue of its role as a member of the Executive Advisory Committee.
Vernick Financial Services
1968
Taylor, MI
www.vfsservicesinc.com
Capital Raising
Business Services
Financial Services