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 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 Advises Stonemark on its Sale to H.W. Kaufman Group

April 2018 FARMINGTON HILLS, MI; FRISCO, TX - H.W. Kaufman Group Inc. is acquiring Frisco-based premium financing company Stonemark Inc. Terms of the deal were not disclosed. Farmington Hills, Michigan-based Kaufman will merge its Royal Premium subsidiary with Stonemark to form a new organization under the Stonemark brand, according to a company statement. Kaufman owns several excess and surplus lines-related firms, including Burns & Wilcox. “Stonemark’s leadership in premium financing – with more than $125 million in annual loan volume in 2017 – combined with Royal Premium, will create an even more powerful and dynamic firm to serve retail insurance brokers and agents across the … [Read more...]

Colonnade Advises SunTrust on the Sale of Premium Assignment Corp (PAC) to IPFS Corporation

ATLANTA, Dec. 4, 2017 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) today announced it has finalized the sale of the company's commercial lines insurance premium finance subsidiary, Premium Assignment Corporation (PAC), to IPFS Corporation. The sale was initially announced in September. "We congratulate IPFS on the purchase of PAC, and wish our departing teammates well in their work with IPFS. This sale allows SunTrust to continue to focus on our core Wholesale banking businesses, while generating value for our shareholders," said Hugh S. (Beau) Cummins, III, Wholesale Segment executive at SunTrust. Based in Tallahassee, Florida, PAC has $1.3 … [Read more...]

Colonnade advises First Niagara on its sale of Premium Payment Plan to Flatiron Capital, a division of Wells Fargo

  In June 2010, First Niagara Financial Group (Nasdaq: FNFG) agreed to divest its insurance premium finance business, Premium Payment Plan (“PPP”), through an exclusive referral and revenue sharing arrangement with Flatiron Capital, a division of Wells Fargo Bank, N.A. Terms of the transaction were not disclosed. Flatiron Capital is one of the largest premium finance companies in the United States. Colonnade Securities LLC advised First Niagara and PPP on the transaction. … [Read more...]

Colonnade advises First Bank on its sale of Universal Premium Acceptance Corporation to Premium Financing Specialists

In December 2009, First Bank of Clayton, Missouri completed the sale of its insurance premium finance subsidiary, Universal Premium Acceptance Corporation (“UPAC”), to Premium Financing Specialists, Inc. (“PFS”) of Kansas City, Missouri. Terms of the transaction were not disclosed. Founded in 1954, UPAC is one of the ten largest insurance premium finance companies in the United States. PFS is the largest independent premium finance provider in the nation. Colonnade Securities LLC served as exclusive financial advisor to First Bank and UPAC. … [Read more...]

Colonnade advises Webster Financial on its sale of Budget Installment Corporation to Texas Capital Bancshares, Inc.

In November 2009, Webster Financial Corporation (NYSE: WBS) of Waterbury, Connecticut completed the sale of its insurance premium finance subsidiary, Budget Installment Corporation, to Texas Capital Bancshares, Inc. (NASDAQ: TCBI) of Dallas, Texas. Terms of the transaction were not disclosed. Texas Capital Bancshares owns BankDirect Capital Finance, a leading insurance premium finance company in the U.S. Colonnade Securities LLC served as exclusive financial advisor to Webster Financial and Budget on the transaction. … [Read more...]

Colonnade Advises Aon on its Sale of Cananwill’s European Businesses to Macquarie Group

In July 2009, Aon Corporation (NYSE: AOC) of Chicago, Illinois completed the sale of the British and Irish businesses of its insurance premium finance subsidiary Cananwill, Inc. to Macquarie Group (ASX: MQG) of Sydney, Australia. Terms of the transaction were not disclosed. Colonnade Securities LLC served as exclusive financial advisor to Aon Corporation and Cananwill on the transaction. Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 26 countries and employs approximately 12,700 people. More information about the company is available … [Read more...]

Colonnade Advises Aon on its Sale of Cananwill’s Canadian Business to Macquarie Group

In July 2009, Aon Corporation (NYSE: AOC) of Chicago, Illinois completed the sale of the Canadian business of its insurance premium finance subsidiary Cananwill, Inc. to Macquarie Group (ASX: MQG) of Sydney, Australia. Terms of the transaction were not disclosed. Colonnade Securities LLC served as exclusive financial advisor to Aon Corporation and Cananwill on the transaction. Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 26 countries and employs approximately 12,700 people. More information about the company is available at www.macquarie.com. … [Read more...]

Colonnade Advises Aon on its Sale of Cananwill–Australia to Allianz Group

In July 2009, Aon Corporation (NYSE: AOC) of Chicago, Illinois completed the sale of the Australian business of its insurance premium finance subsidiary Cananwill, Inc. to Allianz Group (ETR: ALV) of Munich, Germany. Terms of the transaction were not disclosed. Allianz owns Hunter Premium Funding Ltd., which is a leading premium finance company in Australia. Colonnade Securities LLC served as exclusive financial advisor to Aon Corporation and Cananwill on the transaction. The Allianz Group is one of the leading integrated financial services providers worldwide. With nearly 155,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On … [Read more...]

Colonnade advises Aon on its sale of Cananwill (US) to BB&T

January 2009 PITTSBURGH, PRNewswire-FirstCall/ -- AFCO Credit Corporation today said it plans to buy the domestic operations and assets of the premium finance business of Cananwill from Aon Corporation. Glenview, Ill.-based Cananwill provides insurance premium financing for commercial property and casualty policies. It was founded in 1937. AFCO is the primary insurance premium finance subsidiary of Branch Banking and Trust Company, the principal subsidiary of Winston-Salem, N.C.-based BB&T Corporation. Pending regulatory approval, the AFCO purchase is expected to be completed by the end of the first quarter. Terms were not disclosed. BB&T is the second largest provider of … [Read more...]

Colonnade advises The Hanover Insurance Group on its sale of AMGRO to Premium Financing Specialists

In June 2008, The Hanover Insurance Group, Inc. (NYSE:THG) of Worcester, Massachusetts sold its insurance premium finance subsidiary AMGRO, Inc. to Premium Financing Specialists, Inc. (PFS) of Kansas City, Missouri. Terms of the transaction were not disclosed. PFS is the second largest insurance premium finance company in the United States. AMGRO is the tenth largest premium finance company. Colonnade Securities LLC served as exclusive financial advisor to The Hanover Insurance Group and AMGRO on the transaction. … [Read more...]

Colonnade Advises Sumitomo Corp. of America on its Sale of Broadway Premium Funding Corp. to Wintrust Financial

November 2007 LAKE FOREST, Ill., Nov. 1 /PRNewswire-FirstCall/ -- Wintrust Financial Corporation (“Wintrust”) (Nasdaq: WTFC) today announced the completion of its previously announced acquisition of 100% of the ownership interest of Broadway Premium Funding Corporation (“Broadway”) from Sumitomo Corporation of America. Since 1999, Broadway has been providing financing for commercial property and casualty insurance premiums, mainly through insurance agents and brokers in the northeastern portion of the United States and California. “This transaction is a great opportunity for both companies,” stated Edward J. Wehmer, President and CEO of Wintrust. “The transaction will help fulfill … [Read more...]

Colonnade Advises PFS on its Completed Acquisition of Mepco’s Premium Finance Business from Independent Bank Corporation

January 2007 Independent Bank Corporation (Nasdaq: IBCP), a Michigan-based bank holding company (“IBC” or the “Company”), reported that its subsidiary, Mepco Insurance Premium Financing, Inc. (“Mepco”), has closed the transaction to sell substantially all of its assets related to the insurance premium finance business to Premium Financing Specialists, Inc. (“PFS”). Mepco will continue to own and operate its warranty payment plan business. Colonnade Advisors LLC initiated this transaction and served as exclusive advisor to PFS. Under the terms of an amended definitive agreement, Mepco and its wholly-owned subsidiary, Mepco Acceptance Corp. (“MAC”), sold approximately $180 million of … [Read more...]

Colonnade Advises Capitol Payment Plan on its Sale to Premium Financing Specialists

November 2006 Premium Financing Specialists, Inc. (“PFS”) has completed its acquisition of assets from Capitol Payment Plan, Inc. (“Capitol”). Capitol is an insurance premium finance company headquartered in Albany, NY that extends short-term, collateralized financing to facilitate the purchase of insurance for personal and commercial property, casualty and liability risk. Capitol is a leader in financing non-standard automobile insurance policies in New York State through the state’s assigned risk plan. www.cappay.com Headquartered in Kansas City, MO, PFS has operated in the premium finance industry for 30 years and is the fourth largest company in the industry with $1 billion of … [Read more...]

Colonnade Advises UPAC on its Sale to First Banks

May 2006 First Banks, Inc. (“First Banks”) has completed the acquisition of Universal Premium Acceptance Corporation and its affiliates (“UPAC”). UPAC is an insurance premium finance company headquartered in Lenexa, KS, specializing in providing short-term collateralized financing to facilitate the purchase of insurance for commercial property, casualty and liability risk. UPAC is one of the top ten insurance premium finance companies in the United States. UPAC was founded in 1954 and operates in 49 states. At December 31, 2005, UPAC had assets of $146 million and stockholders’ equity of $17.3 million. www.upac.com At March 31, 2006, First Banks reported consolidated assets of $9.4 … [Read more...]

Colonnade advises Mepco Insurance Premium Finance on its sale to Independent Bank Corporation

In April 2003, Independent Bank Corporation (NASDAQ:IBCP), acquired Mepco Insurance Premium Financing, Inc. (“Mepco”) of Chicago, Illinois. Mepco’s senior management team will continue to lead and operate the business after the closing of the transaction. Mepco is a 40-year-old company that specializes in financing insurance premiums and automobile warranty contracts. At December 31, 2002 Mepco had total assets of approximately $96 million and total finance receivables of approximately $89 million. Independent Bank is a bank holding company that operates 97 offices in Michigan. Colonnade Advisors LLC served as exclusive financial advisor to Mepco. … [Read more...]