On June 17, 2024, The Aaron's Company, Inc. (NYSE: AAN) announced it was being acquired by IQVentures Holdings, LLC for $13.86 (US$10.10) per share in cash, valuing the transaction at approximately $692 million (US$504 million). This price represented a 34.0% premium over Aaron's closing share price on June 14, 2024, and a 35.6% premium over its 90-day volume-weighted average price.

John W. Robinson III, Chairman of Aaron's Board, stated the transaction provided significant and immediate value to shareholders. The Board, with help from financial and legal advisors, reviewed strategic options and determined that selling to IQVentures was the best way to maximize shareholder value. CEO Douglas Lindsay noted that IQVentures' financial services expertise would bolster Aaron's omni-channel strategy and operational efficiency.

IQVentures President Cory Miller expressed admiration for Aaron's industry-leading position and anticipated building on the company’s recent transformations. The acquisition, approved unanimously by Aaron's Board, was expected to close by year-end, subject to shareholder and regulatory approvals. Post-transaction, Aaron's would become privately held and continue operating under its existing brand names from its Atlanta headquarters.

J.P. Morgan Securities LLC served as the exclusive financial advisor to Aaron's, with Davies Ward Phillips & Vineberg and Jones Day providing legal counsel. Stephens Inc. acted as the exclusive financial advisor to IQVentures, with legal counsel from King & Spalding LLP.