Pathward Announces Sale of Commercial Insurance Premium Finance Business

Pathward Financial, Inc. (the “Company”) (Nasdaq: CASH) today announced that its wholly owned subsidiary Pathward®, N.A. (“Pathward”), an industry leading financial empowerment company driven by its purpose to power financial inclusion, has entered into a definitive agreement to sell its commercial insurance premium finance business to AFS IBEX Financial Services, LLC (“AFS”), a Delaware limited liability company and subsidiary of Honor Capital Holdings, LLC, a Delaware limited liability company (“Honor”). Through its subsidiaries, Honor originates and services premium finance loans and is one of the nation’s largest independently owned insurance premium finance companies with offices in … [Read more...]

Colonnade Securities advises Maverick Document Signings, Inc. on its sale to 1876 Partners Fund I, LP

1876 Partners Fund I, LP (“1876 Partners”), acquired Maverick Document Signings, Inc. (“Mavsign”), the technology leader in remote document closing and fraud detection and mitigation services for motor vehicle dealerships in the United States.  Mavsign has earned a robust reputation over the past 17 years as a pioneer in remote vehicle transactions, assisting dealers to streamline closings and mitigate fraudulent transactions with its VerifyID technology. Additionally, Mavsign provides the largest mobile notary network with 13,500 validated notaries and 3,500 active notaries covering every state in tandem with its industry leading technology. The company’s commitment to innovation … [Read more...]

Colonnade advises Stonemark on its sale to Imperial PFS

April 2, 2024 Imperial PFS® (IPFS), the leading provider of premium finance solutions in North America, has acquired Stonemark, Inc., a privately held premium finance organization. The transaction closed on April 1, 2024. Stonemark's existing client base of over 4,000 agencies, along with their entire team, are joining IPFS with this deal. This acquisition signifies tremendous growth potential in premium finance, bringing together two organizations with decades of industry expertise. "We look forward to welcoming Stonemark's 48 Associates who have a combined 200+ years of industry experience," said Frank Friedman, CEO, and President at IPFS, "We have no … [Read more...]

Colonnade advises Valley National Bank on its sale of Agile Premium Finance to First Financial Bank

February 29, 2024 First Financial Bank has added Agile Premium Finance to its lineup of banking and specialty financial services available to businesses and owners. Agile was acquired from Valley National Bank. “Adding Agile and its expertise in this sector further expands the suite of specialty products and services we bring to our business clients,” said Archie Brown, president and chief executive officer of First Financial Bank. “By building on our core banking services, we are meeting more of our clients’ needs and strengthening client relationships. This focus on specialty commercial banking services has delivered reliable revenue streams, access to new markets, and positive … [Read more...]

Colonnade advises Reynolds & Reynolds on the acquisition of Xzilon, Industry Leader of Vehicle Appearance Protection Products

July 13, 2023 The Reynolds and Reynolds Company announced today the acquisition of Xzilon, the industry benchmark for high-performance vehicle protection products. The Xzilon brand is well known in dealership F&I departments and is nationally recognized for its exterior protection products (Carbon Ceramic with Graphene and Diamond Grade 9H Ceramic System), Xmicrobe all-in-one interior protection, and full portfolio of additional industry-leading appearance protection products. “Much like Reynolds, Xzilon is focused on the success of its customers, innovation, and teamwork,” said Chris Walsh, president of Reynolds. “The company has a legacy of being a leader in its space and … [Read more...]

Colonnade Advises Streamline Recon on its Sale to SolutionWorks

February 6, 2023 SolutionWorks, a leading provider of automotive reconditioning services, announced the acquisition of Streamline Recon, LLC (“Streamline Recon” or the “Company”), a Texas-based automotive reconditioning company focused on the automotive dealership market. SolutionWorks will be partnering with Streamline’s management team, who will remain with the Company post-close and retain an ownership stake in SolutionWorks. Streamline Recon provides automotive reconditioning services primarily for the franchise dealership market, turning new and used inventory into retail-ready vehicles. Founded in 2000, the Company has been a trusted service provider in the Dallas Metroplex for … [Read more...]

Colonnade advises The Reynolds and Reynolds Company on its acquisition of American Guardian Warranty Services

January 26, 2023 The Reynolds and Reynolds Company announced today the acquisition of American Guardian Warranty Services (AGWS), a premier provider of vehicle service contracts, limited warranties, and other F&I products and services. The acquisition will provide a clear path for dealers looking to streamline selling aftermarket products no matter where the customer is – online, in-store, or a combination of the two. “Consumers are demonstrating that regardless of how they shop, they see growing value in F&I products. But they expect to be educated and they expect accurate pricing,” said Chris Walsh, president of Reynolds. “AGWS has proven to be the leader in aftermarket … [Read more...]

Colonnade Securities Advises OpenRoad Lending on its sale to Clarion Capital Partners

Fort Worth, TX, September 14, 2021— OpenRoad Lending and Clarion Capital Partners announced that Clarion has completed a strategic investment in OpenRoad, the fast-growing direct-to-consumer auto finance company. OpenRoad’s co-founders, Chris Goodman, Jeff Austin, and Joseph Everly, will continue their roles as CEO, CFO, and CTO, respectively. The terms of the transaction were not disclosed. Founded in 2009 by the same executives who pioneered RoadLoans, OpenRoad partners with banks, credit unions and institutional investors to enable consumers to refinance their existing auto loans, lower their interest rates and achieve significant monthly savings. In addition, OpenRoad offers value-add … [Read more...]

Colonnade advises Peoples Bank on its acquisition of North Star Leasing

March 31, 2021 Peoples Bank acquired the assets of North Star Leasing of Burlington, VT from Copley Equity Partners and management. Founded in 1979, North Star Leasing provides specialized lease solutions for vendors and commercial customers across multiple industries, including automotive, plumbing, healthcare, pet supply and foodservice. North Star Leasing works with more than 10,000 equipment vendors, manufacturers and resellers to help customers finance and access equipment. With a portfolio ranked 119th by Monitor, North Star Leasing has grown its originations 18% annually from 2014 to 2020. North Star Leasing has 42 employees. “We are excited about North Star Leasing … [Read more...]

Colonnade advises CalTex on its sale to Cornell Capital and Spectrum Automotive

NEW YORK, Dec. 16, 2020 /PRNewswire/ -- Spectrum Automotive Holdings Corp. ("Spectrum"), a leading agent, marketer and administrator of finance and insurance ("F&I") products for the U.S. automotive market, today announced the acquisition of CalTex Protective Coatings ("CalTex" or the "Company"), the largest manufacturer and provider of automotive appearance protection products in the U.S. Terms of the transaction were not disclosed. Since its founding in 1983, CalTex has become a leading administrator of automotive F&I products with one of the most extensive distribution networks in the industry, selling through nearly 4,000 franchise dealerships nationwide. A trusted … [Read more...]

Milestone Marketing Solutions was acquired by Spectrum Automotive, a portfolio company of Cornell Capital

October 2020 – Spectrum Automotive, a portfolio company of Cornell Capital, announced the acquisition of Milestone Marketing Solutions, a lead generation (“lead gen”) data analytics company. Milestone improves organizational marketing effectiveness through value-add analytics and consulting. Colonnade Securities LLC acted as exclusive financial advisor to Milestone Marketing Solutions. … [Read more...]

Colonnade advises Triumph Bancorp on its sale of Triumph Premium Finance

July 2020 Triumph Bancorp completed its previously announced sale of the operations and assets of Triumph Premium Finance (“TPF”) to Peoples Bank. Based in Kansas City, Missouri, TPF provides premium finance services for customers to purchase property and casualty insurance products through its growing network of independent insurance agency customers nationwide. As of December 31, 2019, TPF had total receivables of approximately $100 million. John Binaggio will continue to manage the insurance premium financing operations for Peoples Bank, now rebranded Peoples Premium Finance. Triumph Bancorp, Triumph Insurance Group, and Peoples Bank maintain an ongoing relationship for premium finance … [Read more...]

Colonnade Securities Advises on Smart AutoCare sale to Tiptree

Founder and CEO Peter Masi will continue to run business NEW YORK & RICHARDSON, Texas--(PR Newswire)--December 17, 2019--Tiptree Inc. (NASDAQ: TIPT) and Peter Masi today announced that Tiptree Insurance has agreed to acquire Smart AutoCare, a rapidly growing vehicle warranty solutions provider led by its founder and CEO, Peter Masi, in an all cash transaction that will also include incentive-based earn outs over time. The transaction is subject to customary closing conditions including regulatory approval and is expected to close early in the first quarter of 2020. Peter Masi will remain CEO of the business. The acquisition is expected to expand Tiptree’s warranty distribution channels … [Read more...]