Mergers / Acquisitions

Ritchie Bros. and IAA Receive Regulatory Clearance for Proposed Acquisition

The waiting period for the proposed acquisition of IAA by Ritchie Bros. under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, while the entities received a no-action letter from the Canadian Commissioner of Competition. read more

Wilmington Trust Sells Collective Investment Trust Business to Madison Dearborn Partners

Wilmington Trust, a wholly-owned subsidiary of M&T Bank, agreed to sell its Collective Investment Trust (Cit) business to Madison Dearborn Partners, a private equity firm based in Chicago. read more

TowneBank and Farmers Bank Expect to Close Merger in January

TowneBank and Farmers Bankshares, the parent company of Farmers Bank, expect to complete their merger in early January as originally scheduled. read more

FNB Corporation Completes Acquisition of UB Bancorp and Union Bank

F.N.B. Corporation completed its acquisition of Greenville, NC-based UB Bancorp, including its wholly-owned banking subsidiary, Union Bank. read more

The First Bank and Heritage Southeast Bank Receive Regulatory Approval for Merger

The First Bancshares, parent company of The First Bank, and Heritage Southeast Bancorporation, parent company of Heritage Southeast Bank, received regulatory approval from the board of governors of the Federal Reserve to complete their previously announced merger. read more

Summit Financial Group Acquires Provident State Bank

Summit Financial Group and PSB Holding Corp. signed a definitive merger agreement. PSB’s bank subsidiary, Provident State Bank, will be merged with Summit’s bank subsidiary, Summit Community Bank. read more

H&E to Sell Komatsu Earthmoving Distributorship to Waukesha-Pearce Industries

H&E Equipment Services signed a definitive agreement to sell its Komatsu earthmoving distribution business to Houston-based Waukesha-Pearce Industries. read more

United Rentals Completes Acquisition of Ahern Rentals for $2B

United Rentals completed its previously announced acquisition of the assets of Ahern Rentals for approximately $2 billion in cash. The transaction and related expenses were funded through newly issued senior secured notes and existing capacity under the company’s ABL facility. read more

FirstFinancial Equipment Leasing Acquires NorFund Capital

First Financial Equipment Leasing, a provider of equipment financing solutions and a member company of JA Mitsui Leasing, acquired NorFund Capital, based in Toronto, expanding its reach in Canada. read more

Newtek Receives Approval From the OCC to Acquire National Bank of New York City

Newtek Business Services received conditional approval from Office of the Comptroller of the Currency (OCC) to complete its acquisition of the National Bank of New York City (NBNYC). read more

MUFG Completes Sale of MUFG Union Bank to U.S. Bancorp

MUFG completed the sale and share transfer of MUFG Union Bank to U.S. Bancorp on Dec. 1. read more

LeasePlan USA and Wheels Donlen Complete Business Combination

LeasePlan USA and Wheels Donlen completed their previously announced combination to create a unified fleet management business. Athene, which is part of Apollo, served as the lead investor in the transaction and is the majority shareholder of the newly combined company. read more

Cummins Acquires Siemens’ Commercial Vehicle Business

Cummins acquired Siemens’ commercial vehicles business, a global supplier of high-performance electric drive systems for commercial vehicles, through its subsidiary, Meritor. Siemens will report through Cummins' New Power business unit. read more

HSBC Agrees to Sell Banking Business in Canada to Royal Bank of Canada for $10.1B

HSBC Holdings’ wholly-owned subsidiary, HSBC Overseas Holdings (UK) Limited, entered into an agreement to sell its banking business in Canada (HSBC Canada) to Royal Bank of Canada (RBC) for a base cash consideration of C$13.5 billion ($10.1 billion). read more

One80 Intermediaries Acquires instaCOVER to Further Expand

One80 Intermediaries, a specialty insurance broker headquartered in Boston, acquired instaCOVER, an independent insurance agency and technology platform specializing in point-of-sale insurance coverage for commercial equipment and other markets. read more

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