M&A Deal Summary

Northrim Bank Acquires Sallyport Commercial Finance

On November 1, 2024, Northrim Bank acquired financial services company Sallyport Commercial Finance for 54M USD

Acquisition Highlights
  • This is Northrim Bank’s 3rd transaction in the Financial Services sector.
  • This is Northrim Bank’s largest (disclosed) transaction.
  • This is Northrim Bank’s 3rd transaction in the United States.
  • This is Northrim Bank’s 1st transaction in Texas.

M&A Deal Summary
Date 2024-11-01
Target Sallyport Commercial Finance
Sector Financial Services
Buyer(s) Northrim Bank
Deal Type Add-on Acquisition
Deal Value 54M USD
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Latham & Watkins (Legal)

Target

Sallyport Commercial Finance

Sugar Land, Texas, United States
Sallyport Commercial Finance offers specialized financial services tailored to small and medium-sized enterprises. Sallyport Commercial Finance was founded in 2014 and is based in Sugar Land, Texas.

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Buyer(S) 1

Buyer

Northrim Bank

Anchorage, Alaska, United States
Category Company
Founded 1990
Sector Financial Services
Employees472
Revenue 130M USD (2023)
DESCRIPTION

Northrim Bank is a commercial bank that provides personal and business banking services. Northrim Bank was founded in 1990 and is based in Anchorage, Alaska.

DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-14 Northrim Benefits Group

Anchorage, Arkansas, United States

Northrim Benefits Group LLC is a provider of insurance products and services. Northrim Benefits Group is based in Anchorage, Arkansas.

Sell -
Mergr

Product

Company

Legal