PROVIDENCE – Citizens Financial Group Inc. has entered into an agreement to acquire Trinity Capital, the company announced on Thursday.
Trinity Capital, a Los Angeles-based financial advisory company of roughly 15 employees, will help Citizens grow its advising services as well as expand its West Coast presence, the company said.
“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.”
The agreement comes after several recent moves to expand Citizens’ West Coast presence, including creating a regional team of commercial and residential advisers, the company said
Trinity’s team of financial advisers serve primarily middle-market businesses through debt restructuring, leveraged and management buyouts, and private placements of debt and equity. Since 2000, Trinity has closed more than 500 transactions collectively worth more than $20 billion, according to the company’s website.
Citizens declined to provide transaction details, except to say that it will be funded in cash and close within the quarter.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com. Follower her on Twitter at @NancyKLavin.
