VENTURA FINANCIAL COMPANY UNIT OFFERS TO ACQUIRE COMMAND CREDIT CORPORATION
VENTURA FINANCIAL COMPANY UNIT OFFERS
TO ACQUIRE COMMAND CREDIT CORPORATION
SAN DIEGO, Oct. 5 /PRNewswire/ -- Ventura Capital Investors I, L.P. a private investment partnership led by San Diego County Entrepreneur William Everly Jr., today announced its offer to purchase Command Credit Corporation and subsidiaries for an undisclosed amount.
Everly is the president and CEO of VEN-Fine Management Corporation, a wholly owned unit of Fallbrook, Calif.-based Ventura Financial Company.
Ventura Financial Company with nearly 500,000 accounts is believed to be the largest non-bank purchaser of consumer credit card accounts in the world. Ventura Financial Company's interests include investments in the Mobile Communications industry through 50 percent-owned Ventura Communications, Inc., portfolio analysis and due diligence services through Ventura Financial Services Company, private label credit card products, vehicle and small ticket equipment leasing, foreclosure services, check guarantee services, software and technology consulting, credit card enhancement and specialized single tenant real estate acquisition.
"Command Credit Corporation has developed products and services that complement Ventura's existing business and it makes sense to take advantage of any opportunity to do business more efficiently," said Everly. "The mass marketing of specialized consumer credit products, such as unsecured revolving lines of credit, and Ventura's own AdvantageCARD are Ventura's immediate focus and the acquisition of Command Credit Corporation is a logical step towards achieving that goal."
Rockville Centre, N.Y.-based Command Credit Corporation provides products and enhanced marketing services for banks and financial institution. Command's U.K. subsidiary, Command Credit Ltd. markets bankcard products and servicing to financial institutions across Europe. Command's California subsidiary. Banserv, Inc. provides merchant and bank computer processing services for the credit card industry.
/CONTACT: William Everly, Jr., president and CEO of VEN-FINE Management Corporation, 619-728-7725, or (fax) 619-728-7494, or (home) 619-966-9778/ CO: Ventura Capital Investors I, L.P.; Command Credit Corporation ST: California, New York IN: FIN SU: TNM
TS -- NY013 -- 6356 10/05/92 07:17 EDT