Webster Financial Corporation Acquires Ametros Financial Corp
December 14, 2023
Webster Financial Corporation, through its principal bank subsidiary Webster Bank, N.A., signed a definitive agreement to acquire Ametros Financial Corp from funds managed by Long Ridge Equity Partners for $350 million in cash. The acquisition brings Ametros' $804 million in deposits under custody and over 24,000 members to Webster, enhancing the bank's healthcare financial services capabilities and providing a low-cost, long-duration deposit base.
- Buyers
- Webster Financial Corporation (Webster Bank, N.A.)
- Targets
- Ametros Financial Corp
- Sellers
- Funds managed by Long Ridge Equity Partners, Long Ridge Equity Partners
- Industry
- Financial Services
- Location
- Massachusetts, United States
- Transaction Type
- Buyout
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