MicroFinancial announced it entered into an agreement with MF Parent and MF Merger Sub, each an affiliate of funds managed by affiliates of Fortress Investment Group, whereby Parent will acquire all of the outstanding shares of the company for $10.20 per share in cash.

The offer represents a 22.8% premium over MicroFinancial’s closing price of $8.30 a share on December 12, 2014. The deal is valued at about $147 million.

The announcement follows a comprehensive review undertaken by the company’s board of directors to maximize shareholder value. The company’s board unanimously approved the merger agreement and unanimously recommends that the company’s shareholders tender their shares in the tender offer.

Richard F. Latour, the chief executive officer of MicroFinancial, said, “We believe that the share price of $10.20 per share represents a compelling value for our shareholders. This price represents a significant premium over the current trading price and our book value.”

Berenson & Company acted as exclusive financial advisor to MicroFinancial in connection with this transaction and provided a fairness opinion to the board of MicroFinancial.

To view the full MicroFinancial news release, click here.