logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT