Intrepid Investment Bankers LLC ("Intrepid"), a leading middle market investment banking firm, today announced the sale of Celtic Capital Corporation ("Celtic Capital"), a portfolio company of Pine Tree Equity I, LP, in its sale to Pacific Western Bank. The transaction closed on April 3, 2012. Intrepid acted as financial advisor to Celtic Capital.
Celtic Capital specializes in helping business owners leverage company assets, including accounts receivable, inventory and equipment, to secure operational and growth financing. With a commitment to providing creative and rapid solutions to clients' financing issues, Celtic Capital provides asset based capital from $500,000 to $5 million to middle market businesses.
Pacific Western Bank ("Pacific Western") is the wholly-owned banking subsidiary of PacWest Bancorp, a bank holding company with $5.5 billion in assets. Through 76 full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium sized businesses.
Jeff Settembrino, Managing Partner, Pine Tree Equity Partners said, "Intrepid ran a robust process and played a critical role in helping us maximize value in our exit of Celtic."
Mike Rosenberg, CEO of Intrepid commented, "We were thrilled to have the opportunity to assist Pine Tree and Celtic in achieving their goal of finding a new partner to support Celtic's continued growth."
The Intrepid team included Mike Rosenberg, Jeremiah Mann, Jeremy Lai and Zach Browning.
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