Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

MB Financial Bank Acquires Celtic Leasing - Quick Facts

RELATED NEWS
Trade MBFI now with 

MB Financial Bank N.A., the wholly-owned subsidiary of MB Financial Inc. (MBFI: Quote), 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.

Click here to receive FREE breaking news email alerts for MB Financial Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Germany's unemployment increased unexpectedly in August as worsening economic activity weighed on job creation. In addition, consumer price inflation, at a four-and-a-half-year low, boosted the scope for more stimulus from the European Central Bank. The number of people out of work increased by a seasonally adjusted 2,000 persons to 2.901 million in August, the Federal Labor Agency reported. NASA has approved the development of the world's most powerful rocket, designed to take humans beyond Earth orbit and to Mars. NASA officials Wednesday announced they have completed a rigorous review of the Space Launch System (SLS) -- the heavy-lift, exploration class rocket under development - and approved the program's progression from formulation to development, something no other exploration Eurozone economic confidence weakened more-than-expected in August to its lowest level in eight months, underscoring rising pessimism amid heightened geopolitical tensions and stagnating economic recovery. The economic confidence index fell to 100.6 in August, the lowest score since December, from 102.1 in July, the European Commission said Thursday.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.