Deal means another notable headquarters loss for Twin Cities.
Banking + Finance
After dealing with his own financial difficulties, the company is trying to help out those who haven’t received paychecks.
Millions of dollars in Minnesota small business loans can’t be completed without federal approval.
The Minneapolis-based water treatment company is acquiring Florida-based Pelican Water Systems for $120 million and Illinois-based Aquion for $160 million. The moves will particularly boost Pentair’s presence in the residential water market.
Replacing retiring, long-time leader Lee Schram, McCarthy joins the small business and financial institutions growth service provider from First Data, an Atlanta-based financial services business.
Lenders are seeing strong commercial loan demand, but they eye warning signals in the economy.
New York-based WISE Ventures will be targeting early and growth stage startups. So far it has invested in at least nine companies, including one from Minneapolis.
Departing employees will be provided severance and outplacement assistance, a spokesperson with the Minneapolis-based bank said.
Florida-based insurance firm Brown & Brown is set to acquire the Minneapolis-based company for a mix of cash and stock.
The story of the founding, structure, early accomplishments and direction of a venture capital startup company comprised of University of Minnesota students.
The capital will go toward accelerating Total Expert’s advancements in its banking- and lending-focused marketing software, and expand into new financial sectors.
The investment fund, referred to as “Fund II,” will be managed by the Minneapolis-based investment bank and asset management firm’s merchant banking unit.
St. Paul-based Augeo will invest money from the sale – to Lightyear Capital LLC – into other components of the business. In turn, the divested business arm will become a separate company, Augeo FI.
The deal is a first for the Minneapolis-based bank this year, and also the first acquisition it has made with CEO Andy Cecere in charge.
The Minneapolis-based medical cannabis company plans to wrap its Series D round in the coming weeks.
The two companies aim to create holistic financial retirement plans for clients.
Small business borrowers are upbeat but weigh labor shortages, rising interest rates, and new technology.
The deal will double Old National’s presense in Minnesota, a market it entered less than a year ago after having purchased local community bank Anchor Bank.