May, 2017
Independent Bank Corporation (Nasdaq: IBCP) completed the sale of its payment plan processing business, Mepco Finance Corporation, to Seabury Asset Management LLC (“Seabury”). Pursuant to the terms of the agreement announced in December 2016, the divestiture included the sale of the payment plan processing business, payment plan receivables, and certain other assets to Seabury, which also assumed certain liabilities of Mepco.
Colonnade Securities served as exclusive financial advisor to Mepco Finance Corporation and Independent Bank Corporation on this transaction.
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