The Alta Group Announces Funding of One of Largest M&A Deals in Years
financial consultancy, announced that one of the equipment finance
industry's largest merger and acquisition transactions in years was
completed last week. The 100 percent cash purchase of
Equipment Finance of
Angeles is not only one of the largest M&A transactions in this niche
in several years, but it also fulfills growth strategies on both
the bank identify acquisition prospects, performing due diligence, and
providing financial advisory services and support in arranging and
closing the deal, which was completed on April 30, 2012, said Paul
Bent, a senior managing director of
had a successful equipment leasing and finance operation and they
approached Alta initially to explore various paths to expand that
business," he added.
consulting, as well as merger and acquisition advisory services, in
the equipment leasing and finance industry for more than 20 years.
This transaction breaks the virtual barrier to mergers and
acquisitions that was in place since the financial crisis, said Bruce
Kropschot, a senior managing director who leads Alta's M&A practice.
He has been reporting within the industry that more such deals are
anticipated this year because many corporations and banks have
substantial liquidity and a number of attractive independent leasing
companies withstood the recession soundly.
Kropschot said the
with a definitive agreement finalized shortly after the execution of a
letter of intent. He said First American Equipment Finance has a great
reputation in the industry and this was not the first time that First
firms interested in acquiring a national leasing company. Verhelle
also found in the selection of
and growth interests were compatible. It was reported that by joining
well as broaden client services.
Bent said it is "a perfect cultural fit" because both are headed by
leaders who take a personal interest in their businesses and their
customers and have high standards of integrity.
in 1954. Today it is a wholly owned subsidiary of City National
Corporation and backed by
First American Equipment Finance, a privately held mid-ticket
equipment leasing company, owns and services approximately $325
million in assets. It leases technology and office equipment
nationwide and has approximately 100 employees. Its clients include
educational institutions, hospitals and health systems, large law
firms, insurance underwriters, enterprise businesses, professional
service businesses and nonprofit organizations.
finance companies, banks, manufacturers and service providers,
offering management consulting and expertise in global market entry,
vendor finance, professional development, and mergers and
acquisitions. The full array of practices in
described at http://www.thealtagroup.com/north-america.
/CONTACT: Susan Carol, On behalf of
/Web Site: http://thealtagroup.com
ST: Nevada New York California
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