Candor Announces Acquisition of Tenex

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Candor Announces Acquisition of Tenex

Acquisition Takes Consumer and Client Experience to the Next Level

PR Newswire

ROME, Ga. and NEW YORK, Dec. 16, 2017 /PRNewswire/ – Candor, a technology and marketplace company specializing in pairing consumers with top health plans, announces the acquisition of Tenex, a comprehensive software development company. Candor is strengthened by the transaction and now has the ability to enhance technological support.

Candor enables access to truly flexible benefits and wellness solutions based on the specific needs of consumers and offers Prosper Benefits at the True Cost of Care. The Candor app simplifies the enrollment process and automates the user experience.

John Good, COO of Candor, explains, “We demonstrate the True Cost of Care. In other words, there are healthcare plans that have higher negotiated rates for the same procedures. These plans, which we eliminate, are masked by similar copays, deductibles and out-of-pocket expenses. We feel they are deceptive and strive to present plans with integrity.”

Tenex builds scalable, maintainable, robust code. They have drawn on the successes of their experiences at enterprises (like Vistaprint and Amazon) and startups (like Financial Diligence Networks) to develop a program that maximizes the ability to build a successful product.

Josh Jordan, CEO of Tenex says, “Tenex has always been about solving the hardest problems in the business. Candor is out to change the world through technology, and #democratizehealthinsurance by changing how people think about their coverage. That demands a phenomenal product. Keeping quality impossibly high, while iterating quickly is paramount. This is what we do every day, and we feel it is a perfect fit! We’re still Tenex developers and we always will be, but now we get to come along for the journey with our new family at Candor.”

About Candor

Candor is a technology and marketplace company providing powerful analytics, tools, and methodologies to benefit Agencies, Carriers, and Healthcare Providers. We are the health companion that enables Americans to access the information and solutions they need to achieve a state of complete independence, success and wellbeing.

For more information visit https://candor.insurance.

About Tenex
Tenex solves the hardest technology problems the industry has to offer. We build scalable, maintainable, robust code that solves business problems. We aren’t interested in perfect design or perfect code, we’re interested in adding value.

For more information visit https://www.crunchbase.com/organization/tenex-developers.

Candor PR contact
Merissa Rood
merissa.rood@candor-usa.com

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SOURCE Candor USA

Algeco Scotsman Announces Acquisition of Iron Horse Ranch

BALTIMORE, Dec. 15, 2017 (GLOBE NEWSWIRE) — Algeco/Scotsman Holding S.à r.l. (together with its subsidiaries, the “Algeco Group”) today announced the successful closing of the acquisition by the Algeco Group’s subsidiary, Target Logistics Management, LLC (“Target Logistics”), of Iron Horse Ranch from funds managed by TDR Capital LLP (“TDR”).

The acquisition solidifies Target Logistics’ position as the single largest provider of turnkey workforce housing in the U.S., including a network of eight lodges and 2,119 beds in the Permian Basin. With the acquisition, Target Logistics’ Permian Basin lodge network now includes Texas lodges in Pecos, Mentone, San Angelo and two in Odessa, along with two lodges in Carlsbad and Lovington, New Mexico. Additionally, Target Logistics adds Eagle Ford lodges in Cameron and Yorktown, Texas.

Diarmuid Cummins, CEO Algeco Scotsman: “Today we announce the completion of the second of two strategic acquisitions which we flagged earlier in the year as important steps forward for the Algeco Group. This transaction materially enhances our leading position in the Permian Basin and expands our presence in the Eagle Ford Basin.”

Brad Archer, CEO Target Logistics: “We are proud to officially welcome Iron Horse Ranch to our team as part of our continued effort to build on our extensive network of turnkey workforce lodges in the United States. Iron Horse Ranch not only complements our existing footprint in the Permian Basin, but also shares our commitment to helping customers realize their full potential by providing a safe and comfortable environment away from the job site.”

Cautionary Notice Regarding Forward Looking Statements

This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions, which reflect the Algeco Group’s expectations regarding its future operational and financial performance. By their nature, the forward-looking events described in this press release may not be accurate or occur at all. In particular, we may not be able to realize the anticipated benefits of the acquisition of Iron Horse.  Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date on which the statements were made. Although any forward-looking statements contained in this press release reflect management’s current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. A number of factors could cause actual results, performance or achievements to differ materially from the results expressed or implied in any forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, we undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Algeco Scotsman

Algeco Scotsman is the leading global business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 24 countries with a modular fleet of approximately 245,000 units and 11,400 remote accommodations rooms. The company operates as Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

About Target Logistics

Target Logistics, an Algeco Scotsman company, is one of the largest providers of turnkey housing solutions in North America. It operates globally in some of the most remote environments, supporting oil, gas and mining with workforce housing, mobile crew camps and extended-stay hotels; government departments and organizations with temporary lodging and refugee integration; and capital projects. Target Logistics was named by Inc. magazine in 2012 and 2013 as one of “America’s Fastest Growing Private Companies.” Visit www.TargetLogistics.net or call (800) 832-4242.

About Iron Horse Ranch

Iron Horse Ranch is an industry leader in workforce housing for the Oil, Gas and Construction industries.  Iron Horse Ranch specializes in turn-key remote camp installation, operation, project management and land acquisition.  Iron Horse Ranch has one of the highest standards in workforce and temporary housing, winning awards for Service, Quality and Operational Excellence. Iron Horse Ranch operates 6 workforce lodging facilities in North America with over 1000 beds.  For more information on Iron Horse Ranch, please visit http://www.ironhorseranch.com.

Investor Relations Contact:
Scott Shaughnessy
Vice President, Finance
Algeco Scotsman
410-933-5921
Scott.Shaughnessy@as.willscot.com

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Royal Financial Announces Acquisition of Certain Assets and Insured Deposits of Washington Federal Bank for Savings

CHICAGO, Dec. 15, 2017 (GLOBE NEWSWIRE) — Royal Financial, Inc. (“Royal Financial”) (OTCQX:RYFL), announced today that its banking subsidiary, Royal Savings Bank (“Royal Bank”), has entered into a Purchase and Assumption Agreement with the Federal Deposit Insurance Corporation (“FDIC”) to acquire selected assets and the insured deposits of Washington Federal Bank for Savings, Chicago, Illinois (“Washington Federal”). The FDIC is acting as the receiver following the Office of the Comptroller of the Currency determination to close Washington Federal.

Effective today, December 15, 2017, Royal Bank has acquired the following assets and liabilities of Washington Federal:

  • Approximately $132.4 million in insured deposits (checking, savings, money market and certificates of deposit) offset with cash   

Royal Bank also has the option to purchase the two existing Washington Federal office locations and may have the option to acquire selected loans. Neither Royal Financial nor Royal Bank acquired any assets, common stock, preferred stock or debt, or assumed any other obligations, of Washington Bancshares, Inc., the savings and loan holding company for Washington Federal.

Washington Federal branch locations will re-open for normal business as “Royal Savings Bank” on Saturday, December 16, 2017. Customer deposits will continue to be insured by the FDIC up to applicable limits, and customers do not need to take any action to maintain that insurance coverage.

“Our most important message to former Washington Federal customers is that their FDIC-insured deposits are safe, secure and accessible,” said Leonard Szwajkowski, President and CEO of Royal Savings Bank. “Beginning Saturday, December 16, 2017, it will be business as usual at the former Washington Federal locations. We are honored to welcome former Washington Federal clients to the Royal Bank franchise.”

Washington Federal customers will be able to use their Washington Federal checks and ATM and debit cards to bank with Royal Bank. All checks will be processed as usual and will clear up to the insured balance in the account. Customers can use any Royal Bank ATM free of charge.

“Further, we look forward to providing our new customers with high quality personal customer service while offering expanded products, services and additional branch locations. This acquisition increases Royal Bank’s asset size to $450 million and branch network to nine banking centers and two business production offices which expands our reach in the diverse Chicagoland banking market. This combination also provides significant operating efficiencies while maintaining our strong balance sheet. Following completion of the acquisition, Royal Bank will remain well-capitalized as defined in banking regulations.”

“Royal Financial is focused on increasing shareholder value through profitable growth by organic means and by acquisition,” said Jim Fitch, Chairman of Royal Financials Board of Directors. “Royal Financial has now completed three transformative acquisitions since the fall of 2015, which our management team accomplished skillfully and efficiently. We continue to seek and welcome opportunities to expand the company.”

Additional information regarding the acquired branches and specific customer FAQs is available on the company’s website at www.royalbankweb.com.

Royal Financial was advised by Howard and Howard Attorneys PLLC as legal counsel and RP Financial LC. as financial advisor.

About Royal Financial, Inc.
Royal Financial, Inc. is a bank holding company serving the Chicago area market through its banking subsidiary Royal Savings Bank. Royal Bank is a federally-insured financial institution that offers a range of checking and savings products and a full line of home and commercial lending solutions. Royal Bank has been operating continuously in Chicago since 1887, and currently has nine bank branches in Chicagoland and two business production offices in Homewood and St. Charles, Illinois. Visit Royal Financial, Inc. and Royal Bank at: www.royalbankweb.com. Royal Financial’s stock is traded on OTCQX under the symbol RYFL.

Safe-Harbor
Forward Looking Statements: This press release may include forward-looking statements. These forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies, and expectations, can generally be identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions. The Company’s respective ability to predict results or the actual effect of future plans or strategies is inherently uncertain and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on the operations and future prospects of the Company include, but are not limited to: changes in interest rates; the economic health of the local real estate market; general economic conditions; continued credit deterioration in the loan portfolio that would cause Royal Bank to further increase the allowance for loan losses; legislative/regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of the loan and securities portfolios; demand for loan products in the Company’s market areas; deposit flows; competition; demand for financial services in the Company’s market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

Contact: Leonard Szwajkowski
President and CEO
Royal Financial, Inc.
Telephone: (773) 382-2111
E-mail: lszwajkowski@royal-bank.us