Wells Fargo announced it has entered into a definitive agreement to acquire the remaining equity interest in CP Equity, the sole owner of Castle Pines Capital (CPC) and its affiliates.

CPC is a privately held company that provides worldwide channel financing solutions to resellers in the technology industry. Wells Fargo’s relationship with CPC dates back to 2005, when it became a customer of the Lender Finance division of Wells Fargo Capital Finance. In 2007, the two companies entered into a strategic alliance, which included a minority equity investment by Wells Fargo in CPC.

“We have enjoyed a long and successful relationship with CPC,” said Andrea Petro, Wells Fargo Capital Finance executive vice president and Lender Finance division manager. “We were the company’s first source of institutional senior debt, and as the company grew, we became convinced that the products and services that CPC provides to its customers were exceptional, and decided to invest in the business. With this acquisition, we will bring Wells Fargo’s strength and stability together with CPC’s entrepreneurial excellence and successful business model.”

“I’m excited to add our channel finance capabilities to the broad range of products and services offered by Wells Fargo,” said John Schmidt, managing partner and co-founder of Castle Pines Capital. “This is a win for the customers of both organizations.” Schmidt, fellow managing partner and co-founder Michael Gallagher, and the rest of the CPC management team will continue to lead the business, which will report to Petro as part of Wells Fargo Capital Finance.

“Wells Fargo is committed to helping businesses grow and succeed,” said Henry Jordan, chairman and CEO of Wells Fargo Capital Finance. “We’ve played a part in Castle Pine Capital’s success over the years, and now, as it becomes part of our organization, we’ll be able to work together to provide customized, flexible, working capital solutions for CPC’s clients. This is another great example of how we deliver on that commitment.”

CPC has approximately 60 employees and is headquartered in Denver, with additional offices in Boston and Ft. Lauderdale. The transaction is expected to be completed this summer. Terms of the purchase were not disclosed. Morgan Stanley acted as financial advisor to CPC and Bryan Cave LLP acted as its legal advisor.