M&A Deal Summary

Cambridge Trust Acquires Wellesley Bank

On December 5, 2019, Cambridge Trust acquired financial services company Wellesley Bank for 122M USD

Acquisition Highlights
  • This is Cambridge Trust’s 2nd transaction in the Financial Services sector.
  • This is Cambridge Trust’s largest (disclosed) transaction.
  • This is Cambridge Trust’s 2nd transaction in the United States.
  • This is Cambridge Trust’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2019-12-05
Target Wellesley Bank
Sector Financial Services
Buyer(s) Cambridge Trust
Deal Type Add-on Acquisition
Deal Value 122M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Kilpatrick Townsend & Stockton LLP (Legal)

Target

Wellesley Bank

Wellesley, Massachusetts, United States
Wellesley Bancorp, Inc. is a provider of personal, customized, premier banking services to successful people, families, businesses and non-profit organizations. The bank has six full-service banking offices in Wellesley, Newton, Needham, and Boston.

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Buyer(S) 1

Buyer

Cambridge Trust

Cambridge, Massachusetts, United States
Category Company
Founded 1890
Sector Financial Services
Employees407
Revenue 163M USD (2023)
DESCRIPTION

Cambridge Trust is a private bank that creates custom financial solutions to build, grow, and protect wealth for the needs of today’s individuals, families, businesses, private partnerships and nonprofit organizations. Cambridge Trust was founded in 1890 and is based in Cambridge, Massachusetts.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 3
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 2
Country (United States) 2 of 3
Year (2019) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-05 Optima Bank & Trust

Portsmouth, New Hampshire, United States

Optima Bank & Trust Co. is a commercial bank offering exceptional service along with the latest in technology, including mobile and online banking and remote deposit anywhere. Optima Bank & Trust Co. was formed in 2008 and is based in Portsmouth, New Hampshire.

Buy $67M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-23 Northmark Bank

North Andover, Massachusetts, United States

Northmark Bank offers a full range of banking services to individuals, businesses, and non-profit organizations. Its staff strives to cultivate banking relationships with clients with the focus of tailoring banking solutions to each individual client's banking needs. Northmark was formed in 1987 and currently operates three branches in North Andover, Andover, and Winchester, Massachusetts.

Buy $63M
Mergr

Product

Company

Legal