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Financial Services - Articles

August 16, 2019

Alliance Data Systems modified Dutch auction, preliminary results

Alliance Data Systems Corp. announced preliminary results from its modified Dutch auction tender offer. According to depositary Computershare Trust Company, N.A., about 13.49 million shares of Alliance Data common stock were properly tendered and not withdrawn at or below the purchase price of $162 per share....

By Jayne Gest

August 14, 2019

Exit Strategy: Planning Now Avoids Headaches Later

Not all exits are quick. And when a business owner needs time to make an exit from their company, it adds another layer to the negotiation....

By Mark Scott

August 8, 2019

iPipeline bought by Roper Technologies

iPipeline, a provider of cloud-based software solutions for the life insurance and financial services industry is being acquired by Roper Technologies Inc, a diversified technology company....

By Adam Burroughs

August 2, 2019

Fort Pitt combines with Harrisburg wealth management firm

Roof Advisory Group Inc. has agreed to join Fort Pitt Capital Group LLC. The transaction will expand the Pittsburgh-based firm’s presence in Pennsylvania and position its business for further growth in the Northeast, while also deepening and broadening the investment capabilities of the combined firm....

By Jayne Gest

July 31, 2019

PCS Retirement buys Aspire Financial Services

The combined 300-person organization will provide recordkeeping services to 16,000 plans and 750,000 eligible participants representing more than $23 billion in assets under administration....

By Adam Burroughs

July 30, 2019

Northern Trust Asset Management to buy Belvedere Advisors

Investment manager Northern Trust Asset Management is set to acquire Belvedere Advisors LLC, which owns Emotomy, an open-architecture digital investment advice platform designed for financial professionals....

By Adam Burroughs

July 30, 2019

Hamilton Lane closes $760M fund

Investment management firm Hamilton Lane has closed its Hamilton Lane Strategic Opportunities Fund V, which represents more than $760 million in commitments....

By Adam Burroughs

July 30, 2019

Boenning & Scattergood to buy Sweney Cartwright

Boenning & Scattergood is buying Sweney Cartwright & Co., a Columbus, Ohio-based broker-dealer. All Sweney Cartwright financial advisers and associates are expected to bring approximately $700 million of assets to Boenning & Scattergood in August 2019....

By Jayne Gest

July 25, 2019

Wintrust To Buy Countryside Bank In $90.5M Deal

Countryside has $594 million in assets and six branches in the Chicagoland area....

By Mark Scott

July 24, 2019

InstaMed, JPMorgan Chase deal finalized

JPMorgan Chase & Co. has closed its acquisition of InstaMed, a health care payments company headquartered in Philadelphia. InstaMed Holdings, Inc. will operate as a subsidiary of JPMorgan Chase Bank N.A....

By Adam Burroughs

July 23, 2019

Old Line Bancshares to merge with WesBanco

The $500 million, all-stock transaction will expand WesBanco’s franchise by 37 offices throughout Maryland, primarily in the Washington D.C. and Baltimore metropolitan areas....

By Jayne Gest

July 19, 2019

How To Leverage Your Banker, Even Without Using Debt

Wes Gillespie, ErieBank’s regional president for the Cleveland market, talks about the bank’s role in the acquisitions process and how lenders can be a valuable M&A partner, even if you’re not using debt to finance your acquisition....

By Mark Scott

July 16, 2019

Chemical, TCF Deal Receives Regulatory Approval

The combined company is expected to have over $46 billion in total assets and be a top 10 bank in the Midwest based on deposit market share....

By Mark Scott

July 2, 2019

Buying in a frenzied market

PNC Mezzanine Capital's Doug Brosius Brosius shares his insights into what is driving these high valuations and how they are impacting his approach to deals....

By Jayne Gest

July 2, 2019

Alliance Data completes Epsilon sale

Alliance Data plans to use the net sale proceeds to repurchase shares and pay down corporate debt....

By Jayne Gest

July 2, 2019

Finance Fund plays vital investment role in local communities

Finance Fund connects underserved communities in Ohio with public and private sources of capital to improve access to healthy food, health care service, education and affordable housing....

By Jayne Gest

July 1, 2019

MAI Capital buys Cincinnati firm, creates insurance unit

The move establishes an MAI location in Cincinnati while forming the basis of MAI Insurance Solutions, a new entity devoted to planning-based insurance services....

By Adam Burroughs

July 1, 2019

First Commonwealth Bank approved to buy 14 Santander branches

The branch acquisition is expected to add approximately $525 million of deposits and $120 million of retail and business loans....

By Jayne Gest

June 28, 2019

Chuck Bernicker Raises $250M For Blank Check Company

Former CardConnect CFO Chuck Bernicker has successfully closed a $250 million initial public offering for South Mountain Merger Corp., a "blank check" company formed for the purpose of acquiring financial technology businesses....

By Michael Marzec

June 28, 2019

Guaranteed Rate’s Victor Ciardelli: Don't Panic When A Deal Goes Bad

Guaranteed Rate founder Victor Ciardelli talks about the steps he takes to avoid difficult acquisitions and the important role culture plays in determining the success of a deal....

By Mark Scott

June 27, 2019

Be Sure You Can Manage Your Capital Before You Take It

Competition is strong among financial institutions engaged in M&A activity, which creates risk for companies looking to make a deal, says says Richard C. Hampson, state president and head of commercial banking at Citizens Bank, Michigan....

By Mark Scott

June 25, 2019

Cornerstone Capital Advisors bought by CAPTRUST Financial Advisors

CAPTRUST also acquired McQueen, Ball & Associates, a wealth management and financial planning firm located in Bethlehem, Pa. The two transactions bring more than $2 billion of client assets....

By Adam Burroughs

June 25, 2019

Fintech Pineapple Payments buys rival CardChamp

This is the fourth acquisition for Pineapple Payments, which raised $35 million in a 2017 private equity funding round led by Providence Strategic Growth....

By Jayne Gest

June 19, 2019

Twin Brook Capital Partners AG Direct Lending Fund III raises $2.75B

The fund will seek to capitalize on long-term investment opportunities in middle-market direct lending....

By Adam Burroughs

June 18, 2019

Ditech Holding set to sell multiple assets in multiple-company deal

Through the deals, New Residential will acquire the assets of the Ditech's forward mortgage servicing and originations business, and Mortgage Assets will acquire the stock and assets of the Ditech's reverse mortgage business....

By Adam Burroughs

June 17, 2019

MAI Capital Management buys MTX Wealth Management

MTX, a financial and investment adviser to high-net-worth individuals that includes professional athletes and entertainers, will consolidate its sports-related advisers into a dedicated service group within MAI, branded MAI Sports....

By Adam Burroughs

June 12, 2019

Family offices grow in number and sophistication

Private banker Reese Fields discusses how family offices operate, including balancing privacy with connecting to potential investments....

By Jayne Gest

June 11, 2019

Hub International Acquires Vancouver-Based Porchlight Financial

Vancouver-based Porchlight Financial is a full-service group retirement plan consulting firm with 25 years of experience in helping employers and employees achieve better pension outcomes....

By Mark Scott

June 10, 2019

Monroe Capital Closes $456.34M CLO Transaction

The term financing was Monroe’s third collateralized loan obligation completed in the last 15 months and is secured by a portfolio of middle-market, senior-secured loans....

By Mark Scott

June 7, 2019

Chemical and TCF shareholders approve merger of banks

The combined operations will be based in Detroit and operate under the TCF name following the closing, which is expected in the third quarter....

By Jayne Gest

June 6, 2019

Halo Closes $12M Series B Funding To Expand Structured Notes Platform

Halo, the world's first multi-issuer technology platform for structured notes, will use the funds to expand its international footprint and expand into new asset classes....

By Mark Scott

June 6, 2019

United Retirement Plan Consultants bought by Ascensus

Ascensus, a independent recordkeeping services provider, third-party administrator, and government savings facilitator, will immediately make URPC part of FuturePlan by Ascensus....

By Adam Burroughs

June 5, 2019

Toledo's Waterford Bank to buy Clarkston State Bank

The deal is valued at $34.8 million. Clarkston, founded in 1998, has total assets of $219 million and operates two offices in Oakland County. Waterford Bank, founded in 2007, has assets of $748 million....

By Michael Marzec

June 4, 2019

Federated’s Chris Donahue expects active investing to only grow stronger

After buying the smaller Hermes Investment Management, the Federated Investors CEO quickly moved to adopt Hermes' investment strategy of factoring in environment, social and governance criteria....

By Jayne Gest

May 29, 2019

Morningstar To Acquire DBRS In $669M Deal

The combination of DBRS with Morningstar Credit Ratings' U.S. business will expand global asset class coverage and provide an enhanced platform for providing investors with leading fixed-income analysis and research....

By Mark Scott

May 28, 2019

How to set up the right capital structure for each acquisition

Andrew Wiechkoske has never had the unfortunate experience of having a deal fall apart at or near the finish line, even though he’s worked at PNC since 2008 and completed more than $1 billion...

By Jayne Gest

May 24, 2019

Chris McKenna: How to get the most value from selling your business

The Carleton McKenna managing partner talks about pre-transaction strategy and how it can lead to a more lucrative exit for the seller....

By Mark Scott

May 23, 2019

A good M&A strategy starts with a compelling story

M&A advisor Joseph Valentic explains why a good M&A strategy starts with a good story, but also needs a solid team and attention to detail....

By Mark Scott

May 21, 2019

Ancora’s Brian Hopkins: Relationships Fuel Dealmaking Activity

The Ancora managing director talks about the role relationship-building plays in his dealmaking activity and the value of maintaining discipline....

By Mark Scott

May 15, 2019

How to plan a successful recapitalization strategy

Recapitalization — the process of changing a company’s capital structure through the issuance of new debt or equity securities — is a popular way to fund acquisitions, growth strategies, partner...

By Mark Scott

May 9, 2019

Charles Huebner Digs Deep To Make Investments Deals Work For Clients

The founder of Pointe Capital Management talks about the forces that drove the launch of his investment management firm and the value of being a dealmaking sleuth....

By Mark Scott

May 7, 2019

Federated Investors buying $14B in assets from PNC Financial Services

The proposed deal includes the reorganization of PNC’s family of liquidity, equity and fixed-income mutual funds into Federated funds; the acquisition of part of PNC’s separate account and separately managed account business; and the transition of a six-person international equity management team....

By Jayne Gest

May 1, 2019

PNC reportedly selling $54.6B institutional asset manager to Federated

PNC Financial Services Group is in talks to sell PNC Capital Advisors to Federated Investors, according to multiple sources....

By Jayne Gest

May 1, 2019

Pineapple Payments buys Boston merchant services provider

The Pittsburgh-based payments technology company has acquired Boston-based Beacon Payments in a deal that adds more than $1 billion in annual payment processing volume....

By Jayne Gest

April 30, 2019

Life after selling your business will never be the same

Michael Krol, head of wealth advisory at Waldron Private Wealth, discusses post-sale changes that catch many business owners off guard....

By Jayne Gest

April 23, 2019

Honeycomb Credit expands crowd financing model beyond Pittsburgh

How CEO George Cook is blending crowd funding and community banking to change the way small businesses get loans....

By Jayne Gest

April 22, 2019

First Commonwealth to acquire 14 branches in Central Pa.

The acquisition, which brings $525 million of deposits and $120 million of retail and business loans, enables First Commonwealth to expand its Central Pennsylvania footprint....

By Jayne Gest

April 18, 2019

ScaleCo buys control of Budco Financial from Evolution

Scale Community Co. has made its first acquisition, snagging a Detroit-based payment plan program management company that serves the automotive industry....

By Mark Scott

April 18, 2019

Budco Financial bought by Cleveland's ScaleCo.

Scale Community is acquiring the Detroit-based payment plan program management company from Evolution Capital Partners, which is also based in Cleveland....

By Mark Scott

April 16, 2019

Home Point Financial buying wholesale mortgage operation

Ann Arbor-based Home Point Financial is acquiring the wholesale division of Platinum Mortgage Inc., with plans to merge it into its own burgeoning wholesale business....

By Mark Scott