DELRAY BEACH, Fla., Aug. 14, 2020 /PRNewswire/ -- DRB Capital, LLC ("DRB Capital"), an industry leading annuity purchaser, today announced that it has entered into a definitive long term agreement for financing its acquisition of structured settlement and annuity receivables
The company is also pleased to announce that DRB Capital's present CEO, James Terlizzi, will take on the role of non-executive chairman and will be succeeded as CEO by Jason Sutherland, the company's Senior Vice President, Capital Markets & Senior Counsel.
Terlizzi said of the transaction, "DRB Capital has made remarkable advances in the last few years, and I continue to be confident of its prospects going forward. I have worked with Jason for many years and couldn't pick a better person to take the helm of day-to-day operations. This long term financing will provide the company with the required resources to continue funding and scaling the business as it enters its next stage of growth."
Sutherland added, "This financing transaction validates the quality of our assets and our operation and will help us continue to grow the business and further gain market share. I am honored and proud to be leading a team with such an impressive track record, and we are all looking forward to the opportunities and the growth of DRB Capital."
About DRB Capital, LLC: DRB Capital is a leading purchaser of annuity payments and payments from structured legal settlements. The company offers liquidity and optionality to prospective sellers in need of cash who receive guaranteed and/or life-contingent structured settlements or annuity payments. For further information, visit DRBcapital.com.
SOURCE DRB Capital, LLC