M&A Deal Summary |
|
|---|---|
| Date | 2017-09-25 |
| Target | Independence Bancshares |
| Sector | Financial Services |
| Buyer(s) | First Reliance Bancshares |
| Sellers(s) | Aequitas Capital Management |
| Deal Type | Add-on Acquisition |
| Deal Value | 11M USD |
| Advisor(s) | Hovde Group LLC (Financial) Haynsworth Sinkler Boyd (Legal) |
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| Category | Company |
|---|---|
| Founded | 1999 |
| Sector | Financial Services |
First Reliance Bancshares, Inc. is the holding company for First Reliance Bank. The Bank was founded in 1999, employs approximately 141 highly-talented associates and serves the Columbia, Lexington, Charleston, Mount Pleasant, Summerville, Loris, North Myrtle Beach, and Florence markets in South Carolina. First Reliance Bank offers several unique customer programs which include a Hometown Heroes package of benefits for those who are serving our communities, Check 'N Save, a community outreach program for the unbanked or under-banked, a Moms First program, and an iMatter program targeted to young people.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 1 |
| Sector (Financial Services) | 1 of 1 |
| Type (Add-on Acquisition) | 1 of 1 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 1 of 1 |
| Year (2017) | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
| Category | Private Equity Firm |
|---|---|
| Founded | 1993 |
| Size | Small |
| Type | Sector Agnostic |
Aequitas Capital was a diversified financial services company that creates alternative investments including private equity, private credit and specialty finance. The Firm looked for opportunities in underserved sectors including healthcare, education, and financial services. In 2016, Aequitas entered receivership for allegations of securities fraud. The Firm was originally formed in 1993.
| DEAL STATS | # |
|---|---|
| Overall | 4 of 4 |
| Sector (Financial Services) | 1 of 1 |
| Type (Add-on Acquisition) | 2 of 2 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 4 of 4 |
| Year (2017) | 2 of 2 |
| Size (of disclosed) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-03-13 |
CarePayment Technologies
Beaverton, Oregon, United States CarePayment Technologies is a patient financial engagement company that accelerates providers’ transition to the new consumer-driven healthcare market. Powered by advanced technology and analytics, our innovative patient financing solutions improve patient satisfaction and loyalty while delivering superior financial results. CarePayment Technologies is based in Beaverton, Oregon. |
Sell | - |
