LOS ANGELES, Oct. 18, 2018 /PRNewswire/ -- MUFG Union
Bank, N.A. today announced it has signed a definitive agreement to
acquire Intrepid Investment Bankers, a leading Los Angeles-based regional middle market
investment banking firm.
Following the close of the transaction, which is subject to
regulatory approval and other customary closing conditions,
Intrepid Investment Bankers will operate under its current name as
a subsidiary of MUFG Union Bank and will work in close partnership
with the bank's Commercial Banking and Wealth Markets groups. Terms
of the transaction were not disclosed. Intrepid employees will be
retained and become employees of MUFG Union Bank, and Intrepid CEO
Ed Bagdasarian will report to
Tim Wennes, West Coast President of
MUFG Union Bank.
Founded in 2010, Intrepid Investment Bankers is a premier middle
market platform providing M&A, capital raising and strategic
advisory services to entrepreneurs and middle market companies
across multi-sectors. It has a large, longstanding referral network
and a highly attractive client base with deep industry and sector
knowledge in consumer products and services, healthcare,
industrials, technology and digital media, and business
services.
The MUFG Union Bank Commercial Banking Group, under the
direction of veteran commercial banker Bita
Ardalan, serves middle market clients on the West Coast.
Over the past two years, the team has significantly expanded its
reach into new specialty market niches, including healthcare and
technology, adding to its longstanding expertise in not-for-profit,
agriculture and wineries, while maintaining outstanding portfolio
quality.
"The addition of this highly successful boutique M&A
advisory team will greatly complement the product and coverage
capabilities of our Commercial Banking team and drive accretive
asset growth in our Wealth Market businesses," said Wennes.
"We have enjoyed a long-term and productive relationship with the
principals of Intrepid, whose prestigious brand and deep expertise
are well recognized in our markets. We serve similar client
profiles in shared geographies. For many reasons, this transaction
is an ideal strategic fit with our vision to continue the growth of
our middle market banking activities."
"We founded Intrepid to bring differentiated M&A and capital
raising services to middle market companies in the United States," said Bagdasarian. "We
built a successful platform that delivers advisory services through
dedicated industry groups in several key verticals. We are
thrilled to join the MUFG Union Bank platform to bring our M&A
and capital markets capabilities to its large base of commercial
lending clients, and benefit from the resources of one of the
most respected banking institutions in the US," continued
Bagdasarian.
About MUFG Union Bank, N.A.
As of June 30, 2018, MUFG Union Bank,
N.A. operated 355 branches, comprised primarily of retail banking
branches in the West Coast states, along with commercial branches
in Texas, Illinois, New
York and Georgia, as well
as 22 PurePoint Financial Centers. We provide a wide spectrum of
corporate, commercial and retail banking and wealth management
solutions to meet the needs of customers. We also offer an
extensive portfolio of value-added solutions for customers,
including investment banking, personal and corporate trust, global
custody, transaction banking, capital markets, and other services.
With assets of $123.8 billion, as of
June 30, 2018, MUFG Union Bank has
strong capital reserves, credit ratings and capital ratios relative
to peer banks. MUFG Union Bank is a proud member of the Mitsubishi
UFJ Financial Group (NYSE: MUFG), one of the world's largest
financial organizations with total assets of approximately ¥299.1
trillion (JPY) or $2.7 trillion
(USD)1, as of June 30,
2018. The corporate headquarters (principal executive
office) for MUFG Americas Holdings Corporation, which is the
financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG
Union Bank is in San Francisco,
California.
1 Exchange rate of 1
USD=¥110.5 (JPY) as of June 29,
2018
About Intrepid Investment
Bankers
Intrepid provides M&A, capital raising and strategic
advisory services to entrepreneurs and middle-market
companies in various industry sectors. Our heritage,
rooted in our founders' successful 35-year history, breeds a
culture that embraces teamwork, tenacity, and creativity to win big
for our clients. We believe that every company has an
entrepreneurial passion that drives it and a story that defines
it. Our team delivers results through skillful
positioning and relentless execution.
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SOURCE MUFG Union Bank, N.A.