The Alta Group served as a financial advisor to Patriot Capital Corporation in the acquisition of its equipment finance origination platform by State Bank and Trust Company announced Thursday, said Bruce Kropschot, senior managing director and mergers & acquisitions advisory practice leader for Alta.
State Bank and Trust Company is a wholly-owned subsidiary of State Bank Financial Corporation (NASDAQ: STBZ). Patriot Capital Corporation is a leading provider of equipment financing to the retail petroleum industry. The terms of the transaction were not disclosed, but additional details about the merger and acquisition were provided in State Bank and Trust’s announcement. (https://www.statebt.com/downloads/news/Patriot-Capital-Corp-Release.pdf.)
“An increasing number of banks have become attracted to the additional commercial loan volume that can be achieved through an equipment financing business,” said Kropschot. “The Alta Group was pleased to be able to help Patriot Capital founder and president Chris Santy complete this transaction with a strong bank whose financial resources should enable the Patriot Capital organization to continue its rapid growth.”
The announcement came as Kropschot was en route to San Antonio, Texas, for the annual Equipment Leasing and Finance Association (ELFA) Convention, where he will serve as moderator for a session on Tuesday, Oct. 27, on Valuing a Business in an Acquisition. Other session presenters will include Eric Hanson of Macquarie Capital (USA), Hernan Hernandez of City National Bank, Lawrence A. Marsiello of Pine Brook Road Partners, and Paul Menzel of Financial Pacific Leasing.
Kropschot stated that buyers and sellers often have difficulty in determining how they should value a leasing business that is for sale. “This panel brings together individuals who have had a wide variety of experience in the equipment leasing and finance M&A market, and they will share their knowledge as to various methods of valuing a business in an acquisition.”
About The Alta Group
The Alta Group is the leading global consultancy dedicated exclusively to the business of equipment leasing and asset finance. Since 1992, Alta has represented equipment leasing and finance companies, financial institutions, manufacturers, and service providers, offering management consulting and expertise in global market entry, vendor and captive finance, professional development, legal services, asset management, mergers and acquisitions, and application consulting. For information on the group’s services in the United States and Canada, Latin America, Europe, the Middle East and Africa, and Asia Pacific, visit http://www.thealtagroup.com.