M&A Deal Summary

Lending Club Acquires Radius Bancorp

On February 18, 2020, Lending Club acquired financial services company Radius Bancorp from Patriot Financial Partners, GCP Capital Partners and BayBoston Managers for 185M USD

Acquisition Highlights
  • This is Lending Club’s 2nd transaction in the Financial Services sector.
  • This is Lending Club’s largest (disclosed) transaction.
  • This is Lending Club’s 2nd transaction in the United States.
  • This is Lending Club’s 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2020-02-18
Target Radius Bancorp
Sector Financial Services
Buyer(s) Lending Club
Sellers(s) Patriot Financial Partners
GCP Capital Partners
BayBoston Managers
Deal Type Add-on Acquisition
Deal Value 185M USD
Advisor(s) Broadhaven Capital Partners LLC
Piper Sandler & Co. (Financial)
Hogan Lovells (Legal)

Target

Radius Bancorp

Boston, Massachusetts, United States
Radius Bank is a community bank offering a full complement of convenient, leading-edge personal and business products and services. The Bank serves consumers, small and middle-market businesses, unions, government entities, and non-profit organizations as its core clients. Radius Bancorp is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

Lending Club

San Francisco, California, United States
Category Company
Founded 2006
Sector Financial Services
Employees1,025
Revenue 865M USD (2023)
DESCRIPTION

LendingClub provides an alternative to the traditional banking system. LendingClub provides a platform for connecting borrowers with lenders. Lending Club is based in San Francisco, California. Lending Club was founded in 2006 and is based in San Francisco, California.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Massachusetts) 2 of 2
Country (United States) 2 of 3
Year (2020) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-17 Springstone Financial

Westborough, Massachusetts, United States

Springstone provides affordable financing options for consumers looking to finance private education and elective medical procedures through a network of over 14,000 schools and healthcare providers.

Buy $140M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-09 Tally Technologies - Intellectual Property Assets

San Francisco, California, United States

Tally Technologies's Intellectual Property Assets offers intellectual property solutions.

Buy -

Seller(S) 3

SELLER

Patriot Financial Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Patriot Financial Partners is a private equity firm focused on acquiring and investing in community based banks, thrifts, and other related financial services companies throughout the US. Patriot is a hands-on investor and seeks businesses with assets between $500 million and $5 billion. Patriot Financial Partners was established in 2007 and is headquartered in Radnor, Pennsylvania.

DEAL STATS #
Overall 13 of 14
Sector (Financial Services) 13 of 14
Type (Add-on Acquisition) 11 of 11
State (Massachusetts) 1 of 1
Country (United States) 13 of 14
Year (2020) 1 of 1
Size (of disclosed) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-19 Bannockburn Global Forex

Cincinnati, Ohio, United States

Bannockburn Global Forex LLC is a provider of currency trading services headquartered in Cincinnati, Ohio with regional sales offices located in New York, Kansas City, Chicago, Richmond, and Santa Monica. The company specializes in foreign exchange hedging and settlement transactions as well as currency-related advisory services for corporate and institutional clients.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 Sterling Bank

Pearl River, New York, United States

Sterling Bank is a financial services firm that specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City area through teams of dedicated and experienced relationship managers. Sterling Bank was founded in 1888 and is based in Pearl River, New York.

Sell -
SELLER

GCP Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Merchant Bank
Founded 2000
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GCP Capital Partners consists of GCP US, GCP Europe, and GCP Venture. GCP US targets North American acquisitions. The unit looks to invest $10 to $50 million in businesses valued up to $500 million. GCP Europe targets businesses in the UK and Europe. The European team looks to invest up to £40 million in companies valued up to £100 million. Sectors of interest include business services, education, energy, financial services, insurance and telecommunications.

DEAL STATS #
Overall 24 of 24
Sector (Financial Services) 7 of 7
Type (Add-on Acquisition) 10 of 10
State (Massachusetts) 1 of 1
Country (United States) 22 of 22
Year (2020) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-17 Geoforce

Plano, Texas, United States

Geoforce is a cloud-based software platform that delivers a unified view of multiple asset types, including non-powered equipment, powered equipment and vehicles, through ruggedized satellite and cellular-based GPS devices. Geoforce was founded in 2007 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 TransNetwork

Houston, Texas, United States

Transnetwork is a B2B electronic domestic and cross-border processing and payment platform which enables licensed and regulated financial institutions to connect under one standard technology granting access to a diversified payment network in Mexico, Central and South America. TransNetwork was founded in 2002 and is based in Houston, Texas.

Buy -
SELLER

BayBoston Managers

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Focused
DESCRIPTION

BayBoston Managers is a minority-owned private equity firm focused on providing capital and strategic advice to community banks and financial services companies. The Firm looks to invest $3 to $20 million per investment and will consider opportunities across the US. BayBoston Managers was formed in 2013 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 2 of 2
Year (2020) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 Professional Bank

Coral Gables, Florida, United States

Professional Bank is a financial holding company designed for the business challenges faced by professionals and entrepreneurs, and its bankers are business-savvy and bring originality to problem-solving all with high-touch personal service. The company's lending products comprise commercial loans, residential mortgage loans, home equity lines of credit, installment loans, and consumer lines of credit. Professional Bank was founded in 2008 and is based in Coral Gables, Florida.

Sell -
Mergr

Product

Company

Legal