Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(For more retail coverage, click GlobeSt.com/RETAIL.)

IRVING, TX-Affiliates of New York-based JLL Partners, an 18-year-old private equity investment firm, have acquired Irving, TX-based Ace Cash Express Inc. in a stock deal valued at $455 million. Each share of Ace common was converted into the right to receive $30 in cash without interest.

Under the merger terms, Ace will continue to operate under the Ace Cash Express Inc name as a wholly owned subsidiary of Ace Holdings 1 LLC, a newly formed affiliate of JLL. Jay B. Shipowitz will continue as Ace’s president and CEO. Frank Rodriguez, a managing director of JLL Partners, calls Ace “a market leader” in the retail financial services industry.

Ace stock ceased to trade on the Nasdaq Global Market Oct. 5 and was delisted. Mellon Investor Services LLC was named disbursing agent for the merger transaction.

On June 30 of this year, Ace had a network of 1,573 stores in 38 states and the District of Columbia. The network consisted of 1,353 company-owned stores and 220 franchised stores. Besides financial services, JLL has invested in building, medical and consumer products, healthcare and business services, chemicals, broadcasting, transportation and automotive industries.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.