M&A Deal Summary |
|
|---|---|
| Date | 2021-03-23 |
| Target | Legacy Bank Of Florida |
| Sector | Financial Services |
| Buyer(s) | Seacoast Bank |
| Sellers(s) | Terrapin Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 102M USD |
| Advisor(s) | Hovde Group LLC (Financial) Fenimore, Kay, Harrison & Ford (Legal) |
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| Category | Company |
|---|---|
| Founded | 1926 |
| Sector | Financial Services |
| Employees | 965 |
| Revenue | 432M USD (2022) |
Seacoast Bank is a provider of financial services including commercial and retail banking, wealth management, and mortgage services to customers through 34 traditional branches of its locally-branded wholly-owned subsidiary bank, Seacoast National Bank, and five Accelerate offices fueled by the power of Seacoast National Bank. Seacoast Bank was founded in 1926 and is based in Stuart, Florida.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 15 |
| Sector (Financial Services) | 8 of 13 |
| Type (Add-on Acquisition) | 8 of 13 |
| State (Florida) | 9 of 14 |
| Country (United States) | 10 of 15 |
| Year (2021) | 1 of 3 |
| Size (of disclosed) | 3 of 8 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2019-11-19 |
First Bank of the Palm Beaches
West Palm Beach, Florida, United States First Bank of the Palm Beaches specializes in building personal relationships while maintaining state of the art online banking and technology. First Bank of the Palm Beaches bankers understand loans in Palm Beach County and will help you with anything from a home mortgage to a business line of credit. From banking online with bill pay to loans, let First Bank of the Palm Beaches show you the community bank difference. |
Buy | $33M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-08-23 |
Sabal Palm Bank
Sarasota, Florida, United States Sabal Palm Bank is a locally owned and operated community bank that operates three branches across the Sarasota market with deposits of approximately $377 million and loans of $272 million. Sabal Palm Bank was founded in 2006 is based in Sarasota, Florida. |
Buy | $54M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1998 |
| PE ASSETS | 300M USD |
| Size | Middle-Market |
| Type | Sector Agnostic |
Terrapin Partners LLC is an asset management and private equity firm. Terrapin's private equity group targets opportunities in technology, healthcare, basic Industry/services, energy, retail, food/hospitality, media (but not original content), and real estate. Terrapin prefers US based opportunities and will consider both control and minority positions. In addition to providing later stage capital, Terrapin also considers early-stage/venture investments. Terrapin Partners was formed in 1998 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 1 |
| Sector (Financial Services) | 1 of 1 |
| Type (Add-on Acquisition) | 1 of 1 |
| State (Florida) | 1 of 1 |
| Country (United States) | 1 of 1 |
| Year (2021) | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
