MUFG Union Bank, N.A. today announced it has completed the acquisition of Intrepid Investment Bankers LLC (Intrepid), a leading Los Angeles-based regional middle market investment banking firm. The acquisition expands the bank’s client service capabilities to offer mergers and acquisitions and capital markets advisory services, delivering a unique value proposition to business owners and middle-market companies. Intrepid will operate under its current name as a subsidiary of MUFG Union Bank, N.A., working in close partnership with the bank’s Commercial Banking and Wealth Markets groups.
Founded in 2010, Intrepid has built a reputation for guiding clients through value-defining events throughout the lifecycle of their businesses, including mergers and acquisitions, shareholder liquidity, raising capital, and business succession planning. Intrepid has an extensive, longstanding referral network and a highly-attractive client base with deep industry and sector knowledge in Apparel & Direct-to-Consumer Brands, Beauty & Personal Care, Healthcare, Software & Services, Industrials, Technology & Digital Media, and Business Services.
“We are very pleased to welcome the Intrepid team to the Union Bank family,” said Tim Wennes, West Coast President for MUFG Union Bank. “We have shared a collaborative and productive relationship with this prestigious firm and its founding partners for more than 20 years and have seen the deep expertise and tremendous value they deliver to entrepreneurs and middle market companies.
“Both of our firms embrace a culture of service first and are dedicated to the same client profiles and niche industry segments throughout the West Coast,” said Wennes. “The combination of our two companies is projected to have significantly positive implications for clients of both institutions, fully supporting the goal of both firms to serve as their clients’ trusted advisor and help them succeed financially.”
Intrepid will continue to be headed by CEO and Managing Director Ed Bagdasarian.
“This transaction brings two highly respected organizations together to deliver best-of-class services throughout the lifecycle of the business enterprise,” said Bagdasarian. “As it grows, every successful business needs to access capital, make strategic acquisitions, use sophisticated financial and treasury management services, and ultimately deliver liquidity to its shareholders with expert wealth and generational transfer planning. Imagine one institution that can do all that with its customers’ best interests as its guiding objective,” he added.
“The reason I am thrilled about joining the MUFG Union Bank platform is the opportunity to help create the most trusted financial institution with the breadth of expertise and capabilities to become the indispensable resource for entrepreneurs in value defining decisions throughout the lifecycle of their business,” said Bagdasarian. “Our partnership will transform the dialogue we have with our clients.”
The Commercial Banking business at MUFG Union Bank 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. The Wealth Markets business provides wealth management services to corporate, institutional, non-profit and individual clients, including investment management,* brokerage* and investment advisory services,* as well as comprehensive wealth management services, including wealth planning, risk management,* trust and estate services, and banking.
The transaction closed January 1, 2019. Terms of the deal were not disclosed.
About MUFG Union Bank, N.A.
As of September 30, 2018, MUFG Union Bank, N.A. operated 354 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia, as well as 22 PurePoint® Financial Centers. We provide a wide spectrum of corporate, commercial, and retail banking and wealth management solutions to meet the needs of customers. We also offer an extensive portfolio of value-added solutions for customers, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $124.0 billion, as of September 30, 2018, MUFG Union Bank has strong capital reserves, credit ratings and capital ratios relative to peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world’s largest financial organizations with total assets of approximately ¥306.4 trillion (JPY) or $2.7 trillion (USD)¹, as of September 30, 2018. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, California.
1 Exchange rate of 1 USD=¥113.6 (JPY) as of September 28, 2018
About Intrepid Investment Bankers**
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage, rooted in our founders’ successful 35-year history, breeds a culture that embraces teamwork, tenacity, and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.
* Investment management services offered by MUFG Union Bank, N.A. in conjunction with its subsidiary, HighMark Capital Management, an SEC-registered investment adviser. Brokerage and investment advisory services offered by UnionBanc Investment Services LLC, a registered broker-dealer, investment adviser, member FINRA/SIPC , and subsidiary of MUFG Union Bank, N.A. Insurance services offered by UnionBanc Insurance Services, a division of MUFG Union Bank, N.A., having a California domicile and principal place of business at 1201 Camino Del Mar, Suite 208, Del Mar, CA 92014. California State Insurance License No. 0817733. Insurance and annuities are products of the insurance carriers. Non-deposit investment products: • Are NOT deposits or other obligations of, or guaranteed by, the Bank or any Bank affiliate • Are NOT insured by the FDIC or by any other federal government agency • Are subject to investment risks, including possible loss of the principal amount invested • Insurance and annuities are products of the insurance carriers.
** Investment banking services offered by Intrepid Investment Bankers LLC, a subsidiary of MUFG Union Bank, N.A., and member FINRA/SIPC: • Are NOT deposits or other obligations of, or guaranteed by, the Bank or any Bank affiliate • Are NOT insured by the FDIC or by any other federal government agency • Are subject to investment risks, including possible loss of the principal amount invested.