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.
Wennes said: “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.
“We have enjoyed a long-term and productive relationship with the principals of Intrepid, whose prestigious brand and deep expertise are well recognized in our markets. We serve similar client profiles in shared geographies. For many reasons, this transaction is an ideal strategic fit with our vision to continue the growth of our middle market banking activities.”
Bagdasarian said: “We founded Intrepid to bring differentiated M&A and capital raising services to middle market companies in the United States.
“We built a successful platform that delivers advisory services through dedicated industry groups in several key verticals. We are thrilled to join the MUFG Union Bank platform to bring our M&A and capital markets capabilities to its large base of commercial lending clients, and benefit from the resources of one of the most respected banking institutions in the US.”
Source: Company Press Release
