M&A Deal Summary

Key Bank Acquires Laurel Road Bank - Online Lending Business

On January 16, 2019, Key Bank acquired financial services company Laurel Road Bank - Online Lending Business from Laurel Road Bank

Acquisition Highlights
  • This is Key Bank’s 4th transaction in the Financial Services sector.
  • This is Key Bank’s 6th transaction in the United States.
  • This is Key Bank’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2019-01-16
Target Laurel Road Bank - Online Lending Business
Sector Financial Services
Buyer(s) Key Bank
Sellers(s) Laurel Road Bank
Deal Type Divestiture

Target

Laurel Road Bank - Online Lending Business

Connecticut, United States
Laurel Road Bank - Online Lending Business is a digital lending business based in Connecticut.

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Buyer(S) 1

Buyer

Key Bank

Cleveland, Ohio, United States

Category Company
Founded 1849
Sector Financial Services
Employees16,752
Revenue 6.2B USD (2023)
DESCRIPTION

Key Bank is a provider of investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. Key Bank was founded in 1849 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 6 of 9
Sector (Financial Services) 4 of 6
Type (Divestiture) 3 of 3
State (Connecticut) 1 of 1
Country (United States) 6 of 9
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-29 Key Insurance & Benefits Services

Buffalo, New York, United States

Key Insurance & Benefits Services, Inc. is a provider of insurance brokerage services. Key Insurance & Benefits Services, Inc. is based in Buffalo, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 AQN Strategies

McLean, Virginia, United States

AQN Strategies LLC is a consulting firm of expert-practitioners that has provided outstanding results to clients across the financial space, from fintechs to international banks. AQN Strategies was founded in 2016 and is based in McLean, Virginia.

Buy -

Seller(S) 1

SELLER

Laurel Road Bank

Darien, Connecticut, United States

Category Company
Founded 2006
Sector Financial Services
DESCRIPTION

Laurel Road Bank provides carefully crafted lending products with low rates, personalized customer service, and streamlined transaction processes to make the difficult road to success just a bit easier.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1