M&A Deal Summary

First National Bank Acquires PVF Capital

On October 15, 2013, First National Bank acquired financial services company PVF Capital from CW Industrial Partners for 106M USD

Acquisition Highlights
  • This is First National Bank’s 9th transaction in the Financial Services sector.
  • This is First National Bank’s 5th largest (disclosed) transaction.
  • This is First National Bank’s 9th transaction in the United States.
  • This is First National Bank’s 1st transaction in Ohio.

M&A Deal Summary

Date 2013-10-15
Target PVF Capital
Sector Financial Services
Buyer(s) First National Bank
Sellers(s) CW Industrial Partners
Deal Type Add-on Acquisition
Deal Value 106M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Vorys, Sater, Seymour and Pease (Legal)

Target

PVF Capital

Cleveland, Ohio, United States
Park View Federal is a wholly-owned subsidiary of PVF Capital Corp, provides various banking products and services and operates 16 full-service offices located throughout the Greater Cleveland area.

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Buyer(S) 1

Buyer

First National Bank

Pittsburgh, Pennsylvania, United States

Category Company
Founded 1864
Sector Financial Services
Employees4,008
Revenue 1.6B USD (2023)
DESCRIPTION

First National Bank is a financial holding company, provides various financial services to consumers and small- to medium-sized businesses primarily in Pennsylvania, eastern Ohio, and northern West Virginia. First National Bank was incorporated in 1864 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 9 of 14
Sector (Financial Services) 9 of 14
Type (Add-on Acquisition) 8 of 12
State (Ohio) 1 of 1
Country (United States) 9 of 14
Year (2013) 2 of 2
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-08 Annapolis Bancorp

Annapolis, Maryland, United States

Annapolis Bancorp, Inc. is the holding company for BankAnnapolis (the Bank), a federally insured, community-oriented bank, and the only independent commercial bank headquartered in Annapolis, Maryland. The Bank operates as a full-service commercial bank.

Buy $51M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-18 BCSB Bancorp

Baltimore, Maryland, United States

BCSB Bancorp, Inc. serves as the holding company for its wholly owned subsidiary, Baltimore County Savings Bank, which has 16 banking offices throughout the Greater Baltimore area.

Buy $79M

Seller(S) 1

SELLER

CW Industrial Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 500M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

CW Industrial Partners is an industrial-focused private equity firm that is backed by knowledgeable investors who partner with it in finding, vetting, and owning companies. CW Industrial Partners acquires lower middle-market companies in manufacturing and industrial services industries and provides capital, support, and freedom to grow. CW Industrial Partners was founded in 1999 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 6 of 17
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 3 of 10
State (Ohio) 3 of 6
Country (United States) 4 of 15
Year (2013) 3 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 STACK Media

Cleveland, Ohio, United States

STACK Media is a content and media company serving athletes, coaches and sports parents with inspirational and educational video and article content, reaching millions of users each month through its website, STACK.com, and its various syndication partnerships.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-05 Avtron Aerospace

Cleveland, Ohio, United States

Avtron Aerospace, Inc. is a designer and manufacturer of electrical, electronic, and hydraulic aircraft component test solutions for the global commercial and military aerospace markets. Avtron Aerospace was founded in 1953 and is based in Cleveland, Ohio.

Buy -