M&A Deal Summary

MidFirst Bank Acquires PFC Acquisition Company

On January 16, 2013, MidFirst Bank acquired financial services company PFC Acquisition Company from Harbert Private Capital

Acquisition Highlights
  • This is MidFirst Bank’s 3rd transaction in the Financial Services sector.
  • This is MidFirst Bank’s 3rd transaction in the United States.
  • This is MidFirst Bank’s 1st transaction in Georgia.

M&A Deal Summary
Date 2013-01-16
Target PFC Acquisition Company
Sector Financial Services
Buyer(s) MidFirst Bank
Sellers(s) Harbert Private Capital
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)

Target

PFC Acquisition Company

Alpharetta, Georgia, United States
Founded in 1981, Presidential is a specialty commercial finance company that provides working capital financing to small businesses in the form of asset-based loans collateralized primarily by accounts receivable and, to a lesser extent, inventories and fixed assets.

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Buyer(S) 1

Buyer

MidFirst Bank

Oklahoma, Oklahoma, United States
Category Company
Founded 1954
Sector Financial Services
DESCRIPTION

MidFirst provides a full range of business, private banking, trust, personal banking, and mortgage banking products and services.

DEAL STATS #
Overall 3 of 6
Sector (Financial Services) 3 of 6
Type (Add-on Acquisition) 2 of 3
State (Georgia) 1 of 1
Country (United States) 3 of 6
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-14 Community Bank of Arizona

Phoenix, Arizona, United States

Community Bank of Arizona is a provider of banking services and products. As of June 30, 2009, Community Bank of Arizona had total assets of $158.5 million and total deposits of approximately $143.8 million.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 Steele Street Bank & Trust

Denver, Colorado, United States

Steele Street Bank & Trust Offers flexible financial products and services can be customized to meet your individual needs.

Buy -

Seller(S) 1

SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.

DEAL STATS #
Overall 15 of 43
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 10 of 26
State (Georgia) 2 of 7
Country (United States) 14 of 42
Year (2013) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-08 Dermatology Associates of Tyler

Tyler, Texas, United States

Dermatology Associates of Tyler is a provider of dermatological services in the Eastern Texas region.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-28 Mission Critical Electronics

Dallas, Texas, United States

Mission Critical Electronics is a niche-oriented manufacturer of power conversion, battery charging and battery products operating under the leading brands Kussmaul Electronics, Newmar Power, ASEA Power Systems, Power Products, and American Battery Charging. The Company focuses on critical system applications in specialty vehicle, public safety, and industrial/marine applications where durability, reliability, and performance are essential to deliver immediately accessible power. MCE’s solutions address application-specific requirements for 4,000 customers across 2,000+ branded SKUs. MCE is based in Dallas, Texas.

Buy -
Mergr

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