Mergers / Acquisitions

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

First Commonwealth Financial Gets Regulatory Approval for Centric Merger

First Commonwealth Financial received all regulatory approvals required to complete the previously announced merger of Centric Financial with and into First Commonwealth Bank. read more

Generational Capital Markets Advises Clay’s Transportation in Sale to P&S Transportation

Generational Capital Markets, a mergers and acquisitions advisor for privately held businesses, advised Clay's Transport and its sister entity, Clays Logistics, in its sale to P&S Transportation, a subsidiary of PS Logistics. The acquisition closed Oct. 31. read more

First Citizens Completes Conversion of CIT Bank Division Branches

First Citizens Bank’s CIT Bank division completed conversion of its branches to First Citizens’ operations and systems. This conversion integrates CIT Bank branch customer accounts into First Citizens’ products and services. read more

United Rentals Enters Agreement to Acquire Ahern Rentals for $2B

United Rentals entered into an agreement to acquire the assets of the family-owned Ahern Rentals, founded in 1953, for roughly $2 billion in cash. The transaction is expected to close before the end of 2022. read more

White Oak Healthcare Finance Supports Recent United Dental Acquisitions

White Oak Healthcare Finance acted as sole lender and administrative agent of a senior credit facility to United Dental to finance four acquisitions in Arizona, California, Georgia and Colorado. read more

OceanFirst Financial and Partners Bancorp Terminate Merger Agreement

OceanFirst Financial and Partners Bancorp agreed to terminate the merger agreement announced on Nov. 4, 2021, effective immediately. read more

Ritchie Bros. Acquires IAA for $7.3B

Ritchie Bros. Auctioneers and IAA entered into a definitive agreement under which Ritchie Bros. will acquire IAA in a stock and cash transaction valued at approximately $7.3 billion, including the assumption of $1 billion of net debt. read more

TIAA to Sell TIAA Bank to New Investors

TIAA entered into a definitive agreement to sell TIAA Bank to new investors with experience in financial services, including Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management. read more

Assurant Buys American Lease Insurance

American Lease Insurance (ALI) was sold to American Bankers Insurance Group (ABIG), a $10 billion global insurance provider and publicly traded Fortune 500 company that does business as Assurant. read more

Equitable Bank Completes Acquisition of Concentra Bank

Equitable Bank, a wholly-owned subsidiary of EQB, completed the acquisition of Concentra Bank for a premium of $35.7 million to its $459.7 million book value of common equity, subject to final standard closing purchase price adjustments. read more

M&A Forecast Strong Despite Rising Interest Rates

According to a new Grant Thornton survey of merger and acquisition professionals, 72% of respondents expect deal volume to increase over the next six months despite rising interest rates threatening access to capital and uncertainty about a potential increase in capital gains taxes. read more

Republic Bank Acquires CBank, Expands in Cincinnati

Republic Bancorp, the parent company of Republic Bank & Trust, and Cincinnati-based CBank signed an agreement and plan of merger under which Republic will acquire CBank and its wholly-owned subsidiary, Commercial Industrial Finance. read more

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