Perry Capital LLC, an investment management firm with approximately US$11bn under management has reached agreement to acquire the business and assets of Capital Factors, Inc. and Capital Tempfunds, Inc. from the Union Planters Bank, N.A., division of Regions Financial Corporation.
The terms of agreement are not disclosed. Going forward, Perry Capital will invest up to US$100m of capital to support management’s strategy to build a leading commercial finance company to serve the middle market. Andrew Tananbaum, a highly regarded veteran of the commercial finance industry, will make a significant investment in addition to serving as CEO of the new company, to be called Capital Factors LLC.
“We believe the combination of Andy Tananbaum’s expertise, experience and entrepreneurial energy with Perry’s depth of capital and view towards creating a powerful, creative, long term focused credit business will alter the existing landscape,” said Ori Uziel from Perry Capital...
