The Alta Group announced that its client, National Machine Tool Financial Corporation of Elk Grove Village, IL, has been acquired by First Midwest Bank, the principal operating subsidiary of First Midwest Bancorp, of Itasca, IL. Alta initiated the transaction and served as exclusive financial advisor to National Machine Tool Financial Corporation, which specializes in financing machine tools and other manufacturing equipment.

Commenting on the transaction, EVP Chris Chiappetta said, “I now understand why The Alta Group and Bruce Kropschot have such a great reputation in the M &A industry. The Alta Group was extremely helpful in negotiating specific terms of our recent company sale. Bruce Kropschot’s in-depth knowledge and experience was vital to a smooth closing. Bruce and The Alta Group have been great consultants and a pleasure to deal with.”

Chicago-based First Midwest Bancorp has assets of approximately $9 billion. The addition of equipment leasing to First Midwest Bank’s product offerings provides the bank the opportunity to leverage its sales platform to augment National Machine Tool Financial’s historical lease production of $40 million per year, bank officials said in a statement.