M&A Deal Summary

Patriot Financial Partners, GCP Capital Partners and BayBoston Managers Acquire Radius Bancorp

On October 7, 2015, private equity firm Patriot Financial Partners, merchant bank GCP Capital Partners and private equity firm BayBoston Managers acquired financial services company Radius Bancorp for 63M USD

Acquisition Highlights
  • This is Patriot Financial Partners’ 22nd, GCP Capital Partners’ 10th and BayBoston Managers’ 2nd transaction in the Financial Services sector.
  • This is Patriot Financial Partners’ 2nd, GCP Capital Partners’ 5th and BayBoston Managers’ largest (disclosed) transaction.
  • This is Patriot Financial Partners’ 22nd, GCP Capital Partners’ 34th and BayBoston Managers’ 2nd transaction in the United States.
  • This is Patriot Financial Partners’ 1st, GCP Capital Partners’ 1st and BayBoston Managers’ 1st transaction in Massachusetts.
Investment Fate
  • Radius Bancorp was sold to a publicly-traded strategic buyer in 2020 for 185M USD.

M&A Deal Summary

Date 2015-10-07
Target Radius Bancorp
Sector Financial Services
Buyer(s) Patriot Financial Partners
GCP Capital Partners
BayBoston Managers
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 63M USD
Advisor(s) Sandler O'Neill + Partners LP
Keefe, Bruyette, & Woods, Inc. (Financial)
Hogan Lovells (Legal)

Target

Radius Bancorp

Boston, Massachusetts, United States
website
Radius Bank is a community bank offering a full complement of convenient, leading-edge personal and business products and services. The Bank serves consumers, small and middle-market businesses, unions, government entities, and non-profit organizations as its core clients. Radius Bancorp is based in Boston, Massachusetts.

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Buyer(S) 3

DESCRIPTION

Patriot Financial Partners is a private equity firm focused on acquiring and investing in community based banks, thrifts, and other related financial services companies throughout the US. Patriot is a hands-on investor and seeks firms with assets between $500 million and $5 billion. Patriot Financial Partners was established in 2007 and is headquartered in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 22 of 22
Sector (Financial Services) 22 of 22
Type (Buyout (LBO, MBO, MBI)) 2 of 2
State (Massachusetts) 1 of 1
Country (United States) 22 of 22
Year (2015) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-07 Square 1 Financial

Durham, North Carolina, United States

Square 1 Bank specializes in providing financial services to entrepreneurs and venture capitalists. Company help growing companies and their investors navigate financial obstacles by providing access to funds and expertise.

Sell $815M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-02 Atlantic Capital

Atlanta, Georgia, United States

Atlantic Capital is a commercial bank focused on serving middle market corporations, emerging growth businesses, mid-sized real estate developers and investors and the principals of these businesses. Atlantic Capital was founded in 2006 and is based in Atlanta, Georgia.

Sell -
Buyer

GCP Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Merchant Bank
Founded 2000
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GCP Capital Partners consists of GCP US, GCP Europe, and GCP Venture. GCP US targets North American acquisitions. The unit looks to invest $5 to $40 million in businesses valued up to $500 million. GCP Europe targets businesses in the UK and Europe. The European team looks to invest up to £40 million in companies valued up to £100 million. Sectors of interest include business services, education, energy, financial services, insurance and telecommunications.


DEAL STATS #
Overall 36 of 42
Sector (Financial Services) 10 of 11
Type (Buyout (LBO, MBO, MBI)) 20 of 22
State (Massachusetts) 1 of 1
Country (United States) 34 of 40
Year (2015) 2 of 2
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-08 Bridgewater Bank

Saint Louis Park, Minnesota, United States

Bridgewater Bank is a bank holding company that operates Bridgewater Bank, a full-service bank committed to serving the diverse needs of successful small business owners and entrepreneurs. Bridgewater Banks was founded in 2005 and is based in Saint Louis Park, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-12 Complete Merchant Solutions

Orem, Utah, United States

Complete Merchant Solutions is a full-service electronic payments solutions provider. The company facilitate electronic payment processing for all major Credit & Debit cards; Gift & Loyalty cards; ACH, Remote Deposit Capture as well as other non-cash payment methods. Complete Merchant Solutions was founded in 2008 and is based in Orem, Utah.

Buy -
DESCRIPTION

BayBoston Managers is a minority-owned private equity firm focused on providing capital and strategic advice to community banks and financial services companies. The Firm looks to invest $3 to $20 million per investment and will consider opportunities across the US. BayBoston Managers was formed in 2013 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 2 of 2
Year (2015) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-02 Professional Bank

Coral Gables, Florida, United States

Professional Bank is a financial holding company designed for the business challenges faced by professionals and entrepreneurs, and its bankers are business-savvy and bring originality to problem-solving all with high-touch personal service. The company's lending products comprise commercial loans, residential mortgage loans, home equity lines of credit, installment loans, and consumer lines of credit. Professional Bank was founded in 2008 and is based in Coral Gables, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-03 Caribbean Financial Group

Guaynabo, Puerto Rico

Caribbean Financial Group is a regional consumer finance company offering unsecured personal loans, sales finance, and related credit insurance products to middle-income individuals in the Caribbean and Central America. Caribbean Financial operates retail storefronts in Panama, Aruba, the Netherlands Antilles, Trinidad & Tobago, and Mexico.

Buy -