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D + H Completes Acquisition Of Harland Financial Solutions
TORONTO (8/20/13)--Davis + Henderson (D+H) has completed its $1.2-billion acquisition of Harland Financial Solutions.

"The enthusiastic support received in the capital markets and in our client markets since we announced the transaction is much appreciated and reflects the clear value creation potential of this transformational acquisition," said Gerrard Schmid, CEO of D+H.

The all-cash transaction was funded through subscription receipts and extendible convertible unsecured subordinated debentures for gross proceeds of $690.2 million and from borrowings under a new credit facility.

The two companies have a combined client base of 6,200 financial institution customers.
Harland Financial Solutions is a subsidiary of Harland Clarke Holdings Corp. The subsidiary sold is not the same organization as Harland Clarke. Corp., the check printers, which is a CUNA Strategic Services provider.


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