In November 2007, Sumitomo Corporation of America, a subsidiary of Sumitomo Corporation of Tokyo, Japan, completed the sale of Broadway Premium Funding Corporation to Wintrust Financial Corporation (NASDAQ: WTFC). Terms of the transaction were not disclosed.
Broadway is a commercial lines premium finance company that serves clients primarily in the northeastern United States and California. Wintrust is a financial holding company that provides community banking, specialty lending and wealth management services.
Colonnade Advisors LLC served as exclusive financial advisor to Sumitomo and Broadway on the transaction.