M&A Deal Summary

Wintrust Acquires Chicago Deferred Exchange

On February 20, 2019, Wintrust acquired financial services company Chicago Deferred Exchange from Prairie Capital

Acquisition Highlights
  • This is Wintrust’s 15th transaction in the Financial Services sector.
  • This is Wintrust’s 16th transaction in the United States.
  • This is Wintrust’s 8th transaction in Illinois.

M&A Deal Summary

Date 2019-02-20
Target Chicago Deferred Exchange
Sector Financial Services
Buyer(s) Wintrust
Sellers(s) Prairie Capital
Deal Type Add-on Acquisition

Target

Chicago Deferred Exchange

Chicago, Illinois, United States
Chicago Deferred Exchange Co. LLC is a premier provider of Qualified Intermediary services for taxpayers seeking to structure tax-deferred like-kind exchanges under Internal Revenue Code Section 1031. CDEC has successfully facilitated more than 8,000 like-kind exchanges in the past decade for taxpayers nationwide. These transactions typically generate customer deposits during the period following the sale of the property until such proceeds are used to purchase a replacement property. During 2018, deposits from CDEC customers averaged in excess of $1 billion.

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Buyer(S) 1

Buyer

Wintrust

Rosemont, Illinois, United States

Category Company
Founded 1991
Sector Financial Services
Employees5,521
Revenue 2.3B USD (2023)
DESCRIPTION
Entrance to Wintrust's corporate headquarters in Rosemont, Illinois.
Entrance to Wintrust's corporate headquarters in Rosemont, Illinois.

Wintrust is a financial services company that provides traditional community banking services, commercial banking, wealth management services, commercial insurance premium financing, life insurance premium financing, mortgage origination, short-term accounts receivable financing, and certain administrative services, such as data processing of payrolls, billing and treasury management services. The Company serves the greater Chicago, Illinois and southern Wisconsin metropolitan areas. Wintrust was founded in 1991 and is based in Rosemont, Illinois.


DEAL STATS #
Overall 16 of 18
Sector (Financial Services) 15 of 16
Type (Add-on Acquisition) 14 of 15
State (Illinois) 8 of 9
Country (United States) 16 of 18
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-18 Reliable Medical

Brooklyn Park, Minnesota, United States

Reliable Medical is a provider of complex rehab technology, clinical respiratory products, and durable medical equipment and supplies across Minnesota and parts of Western Wisconsin. The company serves a fragile patient base of pediatric and adult patients with conditions such as ALS, multiple sclerosis, cerebral palsy, a severe spinal cord injury, and stage four COPD, among others. Reliable Medical was formed in 1989 and is based in Brooklyn Park, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-25 Countryside Bank

Countryside, Illinois, United States

Countryside Bank (SBC, Inc.) is an Illinois state-chartered bank, which operates six banking offices located in the communities of Countryside, Burbank, Darien, Homer Glen, Oak Brook and Chicago, Illinois.

Buy $91M

Seller(S) 1

SELLER

Prairie Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 525M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prairie Capital is a private investment firm that provides equity and/or mezzanine capital to support buyouts and recapitalization of lower middle-market companies generating sales of $20 - $100 million with an EBITDA of $4 - $12 million. Areas of interest include niche manufacturers, business services, consumer products, marketing services, specialty chemical, and food businesses. The firm invests in the range of $25 - $45 million per transaction. Prairie Capital was formed in 1997 and is based in Chicago, Illinois.


DEAL STATS #
Overall 47 of 55
Sector (Financial Services) 3 of 3
Type (Add-on Acquisition) 14 of 18
State (Illinois) 9 of 11
Country (United States) 46 of 54
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 ProVest

Tampa, Florida, United States

ProVest is a provider of outsourced service of process and related services to law firms, leveraging its footprint of more than 2,000 process servers nationwide. Service of process is legally required consumer protection which ensures appropriate notification in legal cases. ProVest was founded in 1991 and is based in Tampa, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-02 AlpHa Measurement Solutions

Houston, Texas, United States

AlpHa Measurement Solutions is a liquid sensor technology platform serving the complex testing needs of water quality, pharmaceutical, laboratory, and industrial markets with an unmatched combination of precision, reliability, innovation, and flexibility. AlpHa Measurement Solutions was established in 2019 and is based in Houston, Texas.

Buy -