The J.G. Wentworth Company (NYSE:JGW) entered into a stock purchase agreement to acquire WestStar Mortgage, Inc. for $69.7 million in cash and stock on March 6, 2015. Under the terms of agreement, The J.G. Wentworth Company will issue $53.2 million in cash and 1.58 million of J.G. Wentworth Class A Common Stock, with a minimum of 75% of the transaction in cash. WestStar will join The J.G. Wentworth Company(TM) as a newly-rebranded division under the name J.G. Wentworth Home Lending. The current management team would be led by Walter F. Jones, Roger W. Jones, and Kathy Zimpel. WestStar Mortgage will remain at its current headquarters in Woodbridge, VA. T

he acquisition is subject to customary closing conditions including regulatory approvals and is expected to be completed in the third quarter of 2015. K&L Gates and Reed Smith LLP acted as legal advisor and KPMG acted as accountant for The J.G. Wentworth Company. Houlihan Lokey acted as financial advisor and Ariel Yehezkel, David Sands, Thomas Michael and Keith Gercken of Sheppard, Mullin, Richter & Hampton LLP acted as legal advisors for WestStar Mortgage. Michael Goodwin of Makovsky acted as the PR advisor for J.G. Wentworth Company.