Veritex Holdings Acquires North Avenue Capital
September 21, 2021
Veritex Holdings, Inc. will acquire North Avenue Capital, LLC via a newly formed subsidiary of Veritex Community Bank, making NAC a wholly owned subsidiary focused on USDA B&I lending. Veritex will pay $57.5 million in cash (with a potential $5 million earnout) and expects the deal to close in Q4 2021 to expand its USDA lending capabilities and leverage NAC's loan sourcing technology.
- Targets
- North Avenue Capital, LLC
- Sellers
- Existing shareholders of North Avenue Capital, LLC
- Industry
- Financial Services
- Location
- Florida, United States
- Transaction Type
- Buyout
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