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M&A Deal Summary

BanescoUSA Acquires Brickell Bank

On May 14, 2019, BanescoUSA acquired financial services company Brickell Bank from Banco Espirito Santo

Acquisition Highlights
  • This is BanescoUSA’s 1st transaction in the Financial Services sector.
  • This is BanescoUSA’s 1st transaction in the United States.
  • This is BanescoUSA’s 1st transaction in Florida.

M&A Deal Summary
Date 2019-05-14
Target Brickell Bank
Sector Financial Services
Buyer(s) BanescoUSA
Sellers(s) Banco Espirito Santo
Deal Type Divestiture
Advisor(s) Shutts & Bowen (Legal)

Target

Brickell Bank

Miami, Florida, United States
Brickell Bank is dedicated to its core strategy of providing wealth management, personal and corporate banking services, residential and commercial real estate lending, insurance, and trade finance services to domestic and international individuals, institutions and corporations. Brickell Bank offers Wealth Management services to its Private Banking clients through its broker/dealer, Brickell Global Markets, Inc. (Member of FIINRA/SIPC), investment advisory services through Brickell Global Advisory, Inc. a Florida registered investment advisor and insurance solutions through Brickell Global Insurance, Inc.

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Buyer(S) 1

Buyer

BanescoUSA

Coral Gables, Florida, United States
Category Company
Founded 2006
Sector Financial Services
DESCRIPTION

BanescoUSA is an independent Florida state-chartered bank with $1.3 billion in assets as of March 31st, 2019. Banesco USA is completely independent of Banesco in other countries and its deposits are insured by the FDIC. The bank has four branches in South Florida: Coral Gables, Doral, Hialeah and Weston; and one in San Juan, Puerto Rico. It plans to open a branch in Aventura, FL in the second quarter of 2019.

DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1

Seller(S) 1

SELLER

Banco Espirito Santo

Lisbon, Portugal
Category Company
Founded 1869
Sector Financial Services
Employees9
Revenue 1.9B EUR (2013)
DESCRIPTION

Banco Espirito Santo is a provider of commercial, retail, business and private banking financial services. Banco Espírito Santo was incorporated in 1869 and is based in Lisbon, Portugal.

DEAL STATS #
Overall 2 of 2
Sector: Financial Services M&A 2 of 2
Type: Divestiture M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-14 Saxo Bank

Copenhagen, Denmark

Saxo Bank is a provider of multi-asset electronic trading solutions for retail and institutional investors globally. Saxo Bank was formed in 1992 and is based in Copenhagen, Denmark.

Sell -
Mergr

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