Providence-based Citizens Financial Group Inc. has entered into 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.

This transaction, which follows several other recent moves by Citizens to add talent and solutions, adds to Citizens’ advisory capabilities. The company last year bought a portion of the assets from Atlanta, Georgia-based Bowstring Advisors.

“The addition of the Trinity Capital team expands our ability to act as a trusted strategic and financial partner,” Ted Swimmer, head of corporate finance and capital markets for Citizens commercial banking, said in a statement. “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,” Trinity Capital Managing Director Kevin Burke, who founded the firm in 2000, said in a statement.

Trinity Capital has closed more than 500 transactions over the past 20 years. 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.

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. Upon closing, Trinity Capital will operate as a division of CCMI. Terms of the transaction were not disclosed.

Citizens to Acquire LA-Based Advisory Firm

by Banker & Tradesman time to read: 1 min
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