McLarty’s MDH Acquisition Merges With Olive.com | Arkansas Enterprise Information
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MDH Acquisition Corp., a particular function acquisition firm based by Franklin McLarty and Beau Blair, will merge with Olive.com of Chicago and its affiliate PayLink Direct.
The brand new mixture will go public as Olive Ventures Holdings Inc. and commerce on the New York Inventory Change with the image OLV. McLarty will probably be chairman of the brand new firm. Olive.com gives automobile safety plans on-line, whereas PayLink is the corporate’s cost service.
McLarty and Blair shaped their $276 million SPAC and went public with it in February. A SPAC permits a personal firm to go public by way of a merger moderately than undergo the preliminary public providing course of.
“Earlier this yr, we got down to discover a worthwhile firm within the U.S. heartland that had unrecognized worth, with room to develop, a world-class administration staff and management in a sector the place MDH has deep experience and relationships,” McLarty mentioned. “We discovered every of those attributes in Olive.com. Rebecca and her staff have introduced a extremely differentiated providing to market and have already achieved large success.
“Olive.com operates within the automotive trade, an trade the place my household has over 100 years of confirmed management expertise, and we stay up for leveraging our information and enterprise experience to help Olive.com’s continued progress.”
Olive.com and PayLink had been based in 2006 by Rebecca Howard, and PayLink will grow to be a division of Olive.com. Howard will probably be CEO of Olive Ventures Holdings.
“We’re excited concerning the subsequent section of our progress journey and couldn’t have discovered a greater suited companion for this public firm journey than the distinctive MDH staff,” Howard mentioned. “We’ll proceed our relentless concentrate on reaching shoppers on their phrases, and on serving automobile homeowners and our valued enterprise to enterprise shoppers throughout the U.S. and Canada with our trade main gross sales, advertising and marketing and cost options.
“We’re rising our enterprise by placing the wants of shoppers first and empowering them to search out inexpensive, clear and user-friendly options for automobile safety plans.”