logo
Share SHARE
FONT-SIZE Plus   Neg

MB Financial Bank Acquires Celtic Leasing - Quick Facts

MB Financial Bank N.A., the wholly-owned subsidiary of MB Financial Inc. (MBFI), announced Friday that it has acquired Celtic Leasing Corp, a privately held, mid-ticket equipment leasing company.

Headquartered in Irvine, California, Celtic provides leasing services to middle-market companies. It specializes in solutions for the health care, legal, technology, and manufacturing industries. In recent years Celtic's lease originations have ranged from $75 to $100 million on an annual basis.

MB Financial said that Celtic's CEO, Todd Meyer, and his management team will continue to lead the company. Celtic will operate as a wholly owned subsidiary of MB Financial Bank.

The all-cash transaction closed today and is expected to be modestly accretive to MBFI's 2013 earnings.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Anglo-Dutch oil giant Royal Dutch Shell plans to cut 2,200 more jobs, as the company continues to face lower oil prices, media reported Wednesday citing an emailed statement. The latest round of cuts would bring the total job cuts this year to at least 5,000 globally. In the U.K. and Ireland, the company plans to reduce staff working in exploration and production by 475. Tiffany & Co. (TIF) reported first-quarter net earnings of $87 million, or $0.69 per share compared to $105 million, or $0.81 per share, in the prior year. The company noted that its first-quarter results included a tax benefit of $0.05 per share related to the settlement of a tax examination. On average,... Shares of Marks & Spencer Group plc were losing around 8 percent in the early morning trading in London, after the retailer reported lower profit in its fiscal 2016, hurt mainly by weak results at clothing & Home segment and lower UK LFL sales. Looking ahead, the company warned about profit, and said it sees a similar sales trend in fiscal 2017.
comments powered by Disqus
Follow RTT