MERGERS AND ACQUISITIONS

 

VAR Technology Finance Acquired by People’s United, Will Become LEAF Division
People’s United Bank acquired VAR Technology Finance, a private, independent leasing and finance company that serves small, medium and large technology manufacturers, software companies and resellers. VAR will become a division of People’s United’s operating subsidiary, LEAF Commercial Capital.

Great Western Leasing Acquires All Points Equipment
Great Western Leasing and Sales announced the acquisition of All Points Equipment Leasing. Based in Dearborn, MI, All Points provides trailer rental, new and used trailer sales, repair and maintenance service and over-the-counter parts sales to customers in the Detroit metropolitan area. 

First Midwest to Acquire Bridgeview Bank
First Midwest Bancorp entered into a definitive agreement to acquire Bridgeview Bancorp, the holding company for Bridgeview Bank Group, which operates 13 banking offices across greater Chicagoland and several of its suburbs.

People’s United Financial to Acquire Belmont Savings Bank
People’s United Financial, the holding company for People’s United Bank, agreed to acquire BSB Bancorp and its subsidiary, Belmont Savings Bank, in a 100% stock transaction valued at approximately $327 million.

Chemical Financial and TCF Financial to Merge
Chemical Financial and TCF Financial signed a definitive agreement under which TCF will merge into Chemical in an all-stock merger of equals transaction. The combined company will have approximately $45 billion in assets, $34 billion in total deposits and more than 500 branches across nine states and operate under the TCF name.

ENGS Commercial Finance Acquired by Mitsubishi UFJ Lease & Finance
ENGS Commercial Finance announced its shareholders, led by private equity firm Aquiline Capital Partners, entered into an agreement to sell all shares of ENGS to Mitsubishi UFJ Lease & Finance.

Equitable Group to Acquire Bennington Financial Equipment Finance
Equitable Group reached an agreement to acquire Bennington Financial Services, a profitable and growing privately owned company serving the brokered equipment leasing market in Canada. 

PNC Bank to Acquire Ambassador Financial Group
PNC Bank reached a definitive agreement to acquire Ambassador Financial Group, a provider of balance sheet management, investment banking and capital markets services to banks, insurance companies and other financial institutions. At close, AFG will become a subsidiary of PNC Bank within the Capital Markets Financial Institutions Group in the Corporate & Institutional Banking business.

Macquarie to Acquire Waypoint Leasing Assets for $650MM
Waypoint Leasing Holdings entered into an agreement to be purchased by Macquarie Group for approximately $650 million. Macquarie Rotorcraft Leasing will combine the Waypoint helicopter assets and management platform with its own portfolio and employ the Waypoint staff.

MUFG Union Bank to Acquire Supply Chain Finance Platform from GE Capital
MUFG Americas Holdings and GE Capital announced the signing of an agreement where MUFG Union Bank, a subsidiary of MUAH, will acquire trade payable services, a supply chain finance platform, from GE Capital. 

Mitsubishi UFJ Lease & Finance Acquires ENGS Holdings
ENGS Commercial Finance closed on the sale of all shares of ENGS to Mitsubishi UFJ Lease & Finance. With this acquisition, MUL expanded its global reach of vendor finance into North America.

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