M&A Deal Summary

MB Financial Acquires Cole Taylor Bank

On October 30, 2014, MB Financial acquired financial services company Cole Taylor Bank from Concentric Equity Partners and Prairie Capital for 640M USD

Acquisition Highlights
  • This is MB Financial’s 11th transaction in the Financial Services sector.
  • This is MB Financial’s largest (disclosed) transaction.
  • This is MB Financial’s 11th transaction in the United States.
  • This is MB Financial’s 6th transaction in Illinois.

M&A Deal Summary

Date 2014-10-30
Target Cole Taylor Bank
Sector Financial Services
Buyer(s) MB Financial
Sellers(s) Concentric Equity Partners
Prairie Capital
Deal Type Merger
Deal Value 640M USD

Target

Cole Taylor Bank

Chicago, Illinois, United States
website
Cole Taylor Bank, Inc., a commercial bank operating in the Chicago metropolitan area. Headquartered in Rosemont, IL, Cole Taylor Bank operates nine banking centers throughout Chicago and has over $4 billion in assets under management. The bank was founded in 1929 by members of the Taylor family and has served the Chicago metropolitan area for over 75 years. Cole Taylor’s mission is to be a premier bank for Chicago area businesses by utilizing a relationship oriented customer approach.

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Buyer(S) 1

Buyer

MB Financial

Chicago, Illinois, United States

website


Category Company
Founded 1911
Sector Financial Services
Employees2,980
Revenue 816M USD (2015)
DESCRIPTION
Entrance to a MB Financial office in Rosemont, Illinois.
Entrance to a MB Financial office in Rosemont, Illinois.

MB Financial, Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $20 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. MB Financial was formed in 1911 and is based in Chicago, Illinois.


DEAL STATS #
Overall 11 of 14
Sector (Financial Services) 11 of 13
Type (Merger) 2 of 2
State (Illinois) 6 of 7
Country (United States) 11 of 14
Year (2014) 3 of 3
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-18 Taylor Capital Group

Rosemont, Illinois, United States

Taylor Capital Group, Inc. provides financial services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 Innovative Labs

Springville, Utah, United States

Innovative Labs is a developer, formulator, and provider of single serve and multi-dose ingestible health and wellness products for brands and direct sales companies. IFP provides highly differentiated formulating, blending, filling, distribution, and other critical services for small-format nutritional supplements, food items, household products, and other consumer packaged goods. Innovative Labs was founded in 2006 and is based in Springville, Utah.

Buy -

Seller(S) 2

SELLER

Concentric Equity Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Concentric Equity Partners is a private equity firm that invests in profitable, growth-oriented middle-market companies. Concentric typically invests $10 to $30 million of capital per transaction, however, the Firm's historical investment range is $5 to $100 million. Areas of interest include business services, consumer services, financial services, and healthcare. Prospective transaction situations include management led buyouts, leveraged buyouts, and growth equity investments. Concentric will consider both majority and minority situations. Concentric is the direct investment arm of asset management firm, Financial Investments Corporation. Concentric Equity Partners was established in 2002 and is based in Chicago, Illinois.


DEAL STATS #
Overall 2 of 18
Sector (Financial Services) 1 of 2
Type (Merger) 1 of 3
State (Illinois) 1 of 2
Country (United States) 2 of 18
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Aperture Credentialing

Louisville, Kentucky, United States

Aperture Credentialing is a provider of credentialing verification services for health providers. Aperture Credentialing is based in Louisville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Catastrophe Solutions International

Maryland Heights, Missouri, United States

Catastrophe Solutions International is a provider of claims and repair solutions for hail-damaged vehicles using Paintless Dent Repair (PDR), a unique process by which minor dings and dents are removed using highly specialized craftsmanship. Catastrophe Solutions International was founded in 2010 and is based in Maryland Heights, Missouri.

Buy -
SELLER

Prairie Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 525M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prairie Capital is a private investment firm that provides equity and/or mezzanine capital to support buyouts and recapitalization of lower middle-market companies generating sales of $20 - $100 million with an EBITDA of $4 - $12 million. Areas of interest include niche manufacturers, business services, consumer products, marketing services, specialty chemical, and food businesses. The firm invests in the range of $25 - $45 million per transaction. Prairie Capital was formed in 1997 and is based in Chicago, Illinois.


DEAL STATS #
Overall 31 of 55
Sector (Financial Services) 2 of 3
Type (Merger) 1 of 2
State (Illinois) 6 of 11
Country (United States) 30 of 54
Year (2014) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 PBE Group

Maidenhead, United Kingdom

PBE Group is a developer, manufacturer, and marketer of an extensive line of technology-enabled communication, tracking, and monitoring products for underground mining and tunneling. The company is a supplier to the U.S. coal industry through its extensive network of distributors and direct relationships with major coal producers. It also provides subcontract assembly services to the defense industry. PBE Group was founded in 1971 and is based in Maidenhead, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-15 Tower Engineering Professionals

Raleigh, North Carolina, United States

Tower Engineering Professionals is an operator of engineering services firm focused on serving the telecommunications industry. Tower Engineering Professionals' services include structural analysis, civil engineering, surveying; environmental, inspection, geotechnical, renewable energy, residential, commercial, plumbing, mechanical, and electrical, and structural modification and design. Tower Engineering Professionals was founded in 1997 and is based in Raleigh, North Carolina.

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