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Encore Funding Acquires Two National Companies, Millennium Funding And Tempay

Feb 24, 2022•almost 4 years ago

Acquiring Company

Encore Funding

Acquired Company

Encore Funding

ClevelandClevelandProfessional ServicesProfessional Services

Description

Encore Funding, an alternative lender that unlocks capital and strategic support for entrepreneurs in the staffing and transportation industries, is pleased to announce its acquisition of two national companies: Millennium Funding, another alternative lender that provides working capital to the staffing and transportation industry and TemPay LLC, a leading payroll provider for temporary staffing agencies.

Company Information

Company

Encore Funding

Location

Cleveland, Ohio, United States

About

Encore Funding is an alternative lender, founded by entrepreneur Joel Adelman, that delivers working capital, consulting and software to growth-minded entrepreneurs. Beyond receivables financing, the firm offers advisory support and resources needed to drive solutions and positive returns. Encore invests in staffing agencies, transportation, and entrepreneurs seeking to drive business, economic and community impact. For more information, visit encore-funding.com. SOURCE Encore Funding

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed