Recent Transactions
DFCU Financial to Acquire Two Florida Branches of MidWestOne Bank
DFCU Financial to Acquire Two Florida Branches of MidWestOne Bank THE TRANSACTION On September 25, 2023, The Boards of Directors of DFCU Financial (“DFCU”) and MidWestOne Financial Group, Inc. (Nasdaq:MOFG), the holding company for MidWestOne Bank, announced that they have signed a definitive agreement for DFCU to acquire the Naples and Fort Myers banking operations…
Read MoreIndustry Products Company has been acquired by VisTech Manufacturing Solutions
Industry Products Company has been acquired by VisTech Manufacturing Solutions THE TRANSACTION On July 3, 2023, Industry Products Company (“IPC”), a North American supplier of interior trim and noise, vibration, and harshness (“NVH”) components primarily to automotive OEMs, announced that it has been acquired by VisTech Manufacturing Solutions (“VisTech”), an NVH solutions provider to the…
Read MoreAssets of Bolta US Ltd. acquired by SMP Automotive Systems Alabama Inc.
Assets of Bolta US Ltd. acquired by SMP Automotive Systems Alabama Inc. THE TRANSACTION On April 17, 2023, Samvardhana Motherson International Limited (“Motherson”) acquired substantially all the assets of Bolta US Ltd. (“Bolta US”) through an indirect, wholly-owned subsidiary. Bolta US is a leading manufacturer of chrome plated interior and exterior plastic components for the…
Read MoreExchange State Bank Corp. Announces Merger with Thumb Bancorp, Inc.
Exchange State Bank Corp. Announces Merger with Thumb Bancorp, Inc. THE TRANSACTION On August 29, 2022, Exchange State Bank Corp. (“Exchange”), the bank holding company for Exchange State Bank, announced the signing of an agreement and plan of reorganization with Thumb Bancorp, Inc. (“Thumb”), the bank holding company for Thumb Bank & Trust. The agreement…
Read MoreDFCU Financial Announces Transaction with First Citrus Bank
DFCU Financial has acquired First Citrus Bank THE TRANSACTION On May 12, 2022, the Boards of Directors of DFCU Financial (“DFCU”) and First Citrus Bancorporation, Inc., (OTCPK: FCIT), the holding company for First Citrus Bank (collectively “FCB”), announced the execution of a definitive agreement by which FCB will merge with DFCU in an all-cash transaction.…
Read MoreElgin Industries, Inc. has partnered with Main Street Capital
Elgin Industries, Inc. has partnered with Main Street Capital THE TRANSACTION On October 3, 2022, Elgin Industries, Inc. (“Elgin”), a leading manufacturer and distributor of high-quality engine and chassis components to the automotive and commercial truck aftermarkets and to OEM customers in the automotive, commercial vehicle, agriculture and other industrial markets, announced that it has…
Read MoreFirst Independence Corp. Completes Issuances of $66.6 Million in Preferred Stock
First Independence Corp. Completes Issuances of $66.6 Million in Preferred Stock THE TRANSACTION Detroit based First Independence Corporation, parent company of First Independence Bank, a Minority Depository Institution (MDI) and Community Development Financial Institution (CDFI), announced it has closed a series of nine preferred equity capital transactions totaling $66.6 million since the beginning of 2021.…
Read MoreHCI Equity has sold Terra Drive Systems, Inc. to a Private Investment Group
HCI Equity has sold Terra Drive Systems, Inc. to a Private Investment Group THE TRANSACTION On August 17, 2022, HCI Equity Partners (“HCI”), a leading lower middle market private equity firm focused on partnering with family and founder owned manufacturing, service and distribution companies, announced that it has sold its portfolio company Terra Drive Systems,…
Read MoreGulf Coast Business Bank has Completed its $23.6 Million Initial Common Stock Offering
Gulf Coast Business Bank has Completed its $23.6 Million Initial Common Stock Offering THE TRANSACTION On June 6, 2022, Gulf Coast Business Bank (“GCBB” or the “Bank”) completed its $23.6 million initial common stock offering which was over subscribed and exceeding the $20.5 million minimum amount of capital required to open the Bank. The offering…
Read MoreLake Michigan Credit Union to acquire Pilot Bank
Lake Michigan Credit Union has acquired Pilot Bank THE TRANSACTION On June 16, 2021, the Boards of Directors of Lake Michigan Credit Union (“LMCU”) and Pilot Bancshares, Inc, (OTCQX: PLBN), the holding company for Tampa-based Pilot Bank and National Aircraft Finance Company (“NAFCO”) (collectively “Pilot”), today announced the execution of a definitive agreement by which…
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