Alta Group Assists Umpqua Bank in FinPac Acquisition
The Alta Group provided due diligence and related corporate advisory services to Umpqua Holdings and Umpqua Bank in the recent acquisition of Financial Pacific Holding, the parent company of Financial Pacific Leasing, one of the largest independent equipment leasing and finance companies in the United States, said Bruce Kropschot, senior managing director and leader of Alta’s mergers and acquisitions (M&A) advisory practice.
The transaction was recently completed for $158 million in cash, Umpqua officials reported. Kropschot and four other Alta professionals assisted Umpqua prior to the sale by performing a comprehensive due diligence review of Financial Pacific’s policies, procedures, business processes and accounting practices.
Alta provides both buy- and sell-side advisory services, funding management and capital raising services and valuation services. Its M&A experts have decades of experience arranging more than 200 equipment leasing and specialty finance business acquisitions, Kropschot noted.
Umpqua Holdings is the parent company of Umpqua Bank, an Oregon-based community bank with locations in California, Oregon and Washington state. Financial Pacific Leasing, based in Washington state, is a commercial finance company that leases equipment to small businesses.