Citizens Financial Group, Inc. announced a definitive agreement to purchase the assets of Trinity Capital, a Los Angeles-based advisory firm that delivers a range of financial services to commercial clients, primarily in the multi-unit restaurant industry. This transaction, which follows several other recent moves by Citizens to add key talent and solutions, further strengthens Citizens’ growing advisory capabilities.
"The addition of the Trinity Capital team expands our ability to act as a trusted strategic and financial partner," said Ted Swimmer, head of corporate finance and capital markets for Citizens Commercial Banking. "Trinity adds deep expertise in the restaurant, retail, food and beverage, and agricultural sectors while strengthening our overall coverage nationally."
"We share Citizens’ commitment to providing exceptional solutions and look forward to delivering the bank’s broad set of capabilities to our growing client base," said Trinity Capital Managing Director Kevin Burke, who founded the firm in 2000.
Since 2000, Trinity Capital has closed more than 500 transactions. The firm focuses on providing financial advice to middle-market businesses on debt restructuring, leveraged and management buyouts, and private placements of debt and equity. In the past few years, Trinity has also been the recipient of Franchise Times magazine’s Dealmakers of the Year Award for excellence in M&A. Franchise Times is the sister publication of the Restaurant Finance Monitor.
The transaction will be funded with cash and is expected to close later this quarter subject to regulatory approval. Under the terms of the agreement, Citizens’ wholly-owned subsidiary, Citizens Capital Markets, Inc. (CCMI), will purchase the assets of Trinity Capital and upon closing, Trinity Capital will operate as a division of CCMI. Terms of the transaction were not disclosed.