Transaction · Treasury / Cash Management · 2022

Safe Harbor Financial / Abaca 2022

Safe Harbor Financial acquired Abaca for $30M on November 1, 2022.

Target: Abaca
Acquirer: Safe Harbor Financial
Deal value: $30M
Announced: November 1, 2022
Sub-sector: Treasury / Cash Management

Transaction overview

Safe Harbor Financial announced the acquisition of Abaca on November 1, 2022 for $30M.

Strategic rationale

Combines Safe Harbor's financial services with Abaca's cannabis fintech platform to create comprehensive banking, treasury management, and payment solutions for cannabis operators.

Deal terms & multiples

Deal value: $30M
Target revenue: Not disclosed
Target EBITDA: Not disclosed
EV / Revenue: Not disclosed
EV / EBITDA: Not disclosed
Announcement: November 1, 2022
Acquirer: Safe Harbor Financial (Strategic)
Sub-sector: Treasury / Cash Management

Sources

markets.financialcontent.com /stocks/article/financialnewsmedia-2022-11-1-global-cannabis-market-size-expected-to-reach-489-billion-by-2027-at-a-cagr-of-246

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