MUFG Union Bank signed a definitive agreement to acquire Intrepid Investment Bankers, a leading Los Angeles-based regional middle market investment banking firm.
Following the close of the transaction, which is subject to regulatory approval and other customary closing conditions, Intrepid Investment Bankers will operate under its current name as a subsidiary of MUFG Union Bank and will work in close partnership with the bank’s Commercial Banking and Wealth Markets groups. Terms of the transaction were not disclosed. Intrepid employees will be retained and become employees of MUFG Union Bank, and Intrepid CEO Ed Bagdasarian will report to Tim Wennes, West Coast President of MUFG Union Bank.
Founded in 2010, Intrepid Investment Bankers is a premier middle market platform providing M&A, capital raising and strategic advisory services to entrepreneurs and middle market companies across multi-sectors. It has a large, longstanding referral network and a highly attractive client base with deep industry and sector knowledge in consumer products and services, healthcare, industrials, technology and digital media, and business services.
The MUFG Union Bank Commercial Banking Group, under the direction of veteran commercial banker Bita Ardalan, serves middle market clients on the West Coast. Over the past two years, the team has significantly expanded its reach into new specialty market niches, including healthcare and technology, adding to its longstanding expertise in not-for-profit, agriculture and wineries, while maintaining outstanding portfolio quality.
“The addition of this highly successful boutique M&A advisory team will greatly complement the product and coverage capabilities of our Commercial Banking team and drive accretive asset growth in our Wealth Market businesses,” said Wennes.
