LOS ANGELES, Jan. 8, 2019 /PRNewswire/ -- MUFG Union
Bank, N.A. today announced it has completed the acquisition of
Intrepid Investment Bankers LLC (Intrepid), a leading Los Angeles-based regional middle market
investment banking firm. The acquisition expands the bank's client
service capabilities to offer mergers and acquisitions and capital
markets advisory services, delivering a unique value proposition to
business owners and middle-market companies. Intrepid will operate
under its current name as a subsidiary of MUFG Union Bank, N.A.,
working in close partnership with the bank's Commercial Banking and
Wealth Markets groups.
![(PRNewsfoto/MUFG Union Bank, N.A.) (PRNewsfoto/MUFG Union Bank, N.A.)](https://mma.prnewswire.com/media/549576/Union_Bank_Logo.jpg)
Founded in 2010, Intrepid has built a reputation for guiding
clients through value-defining events throughout the lifecycle of
their businesses, including mergers and acquisitions, shareholder
liquidity, raising capital, and business succession planning.
Intrepid has an extensive, longstanding referral network and a
highly-attractive client base with deep industry and sector
knowledge in Apparel & Direct-to-Consumer Brands, Beauty &
Personal Care, Healthcare, Software & Services, Industrials,
Technology & Digital Media, and Business Services.
"We are very pleased to welcome the Intrepid team to the Union
Bank family," said Tim Wennes, West
Coast President for MUFG Union Bank. "We have shared a
collaborative and productive relationship with this prestigious
firm and its founding partners for more than 20 years and have seen
the deep expertise and tremendous value they deliver to
entrepreneurs and middle market companies.
"Both of our firms embrace a culture of service first and are
dedicated to the same client profiles and niche industry segments
throughout the West Coast," said Wennes. "The combination of our
two companies is projected to have significantly positive
implications for clients of both institutions, fully supporting the
goal of both firms to serve as their clients' trusted advisor and
help them succeed financially."
Intrepid will continue to be headed by CEO and Managing Director
Ed Bagdasarian.
"This transaction brings two highly respected organizations
together to deliver best-of-class services throughout the lifecycle
of the business enterprise," said Bagdasarian. "As it grows, every
successful business needs to access capital, make strategic
acquisitions, use sophisticated financial and treasury management
services, and ultimately deliver liquidity to its shareholders with
expert wealth and generational transfer planning. Imagine one
institution that can do all that with its customers' best interests
as its guiding objective," he added.
"The reason I am thrilled about joining the MUFG Union Bank
platform is the opportunity to help create the most trusted
financial institution with the breadth of expertise and
capabilities to become the indispensable resource for entrepreneurs
in value defining decisions throughout the lifecycle of their
business," said Bagdasarian. "Our partnership will transform the
dialogue we have with our clients."
The Commercial Banking business at MUFG Union Bank 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 Wealth Markets
business provides wealth management services to corporate,
institutional, non-profit and individual clients, including
investment management,* brokerage* and investment advisory
services,* as well as comprehensive wealth management services,
including wealth planning, risk management,* trust and estate
services, and banking.
The transaction closed January 1,
2019. Terms of the deal were not disclosed.
About MUFG Union Bank, N.A.
As of September 30, 2018, MUFG Union Bank, N.A. operated
354 branches, consisting 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 $124.0
billion, as of September 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 ¥306.4 trillion (JPY) or $2.7 trillion (USD)¹, as of September 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=¥113.6 (JPY) as of September 28,
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. Based in Los Angeles, Intrepid augments its
international capabilities through its active participation
in Oaklins, an exclusive global alliance of M&A advisory
firms.
Disclosure
* Investment management services offered by MUFG Union Bank,
N.A. in conjunction with its subsidiary, HighMark Capital
Management, an SEC-registered investment adviser. Brokerage
and investment advisory services offered by UnionBanc Investment
Services LLC, a registered broker-dealer, investment adviser,
member FINRA/SIPC , and subsidiary of MUFG Union Bank, N.A.
Insurance services offered by UnionBanc Insurance Services, a
division of MUFG Union Bank, N.A., having a California domicile and principal place of
business at 1201 Camino Del Mar, Suite 208, Del Mar, CA 92014. California State
Insurance License No. 0817733. Insurance and annuities are products
of the insurance carriers. Non-deposit investment
products: • Are NOT deposits or other obligations of,
or guaranteed by, the Bank or any Bank affiliate • Are NOT insured
by the FDIC or by any other federal government agency • Are subject
to investment risks, including possible loss of the principal
amount invested • Insurance and annuities are products of the
insurance carriers.
** Investment banking services offered by Intrepid Investment
Bankers LLC, a subsidiary of MUFG Union Bank, N.A., and member
FINRA/SIPC: • Are NOT deposits or other obligations of, or
guaranteed by, the Bank or any Bank affiliate • Are NOT insured by
the FDIC or by any other federal government agency • Are subject to
investment risks, including possible loss of the principal amount
invested.
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SOURCE MUFG Union Bank, N.A.