Beneficient to acquire Mercantile Bank International Corp. to expand alternative asset custody services
Acquiring Company
Beneficient
Acquired Company
Mercantile Bank
DallasGrand RapidsFinancial ServicesFinanceLendingBankingFinancial ServicesFinanceFintechLendingBankingDescription
Beneficient, a technology-enabled platform providing exit opportunities and primary capital solutions, has entered into an agreement to acquire Mercantile Bank International Corp. in exchange for a purchase price of $1.5 million. This acquisition is aimed at expanding Beneficient's alternative asset custody services, offering an expanded range of companion custody and other fee-based services that complement its existing businesses on a broader scale, with the potential to generate additional cash flow.
Quick answer
Beneficient is acquiring Mercantile Bank, announced December 5, 2024. Beneficient is based in Dallas, Texas, United States.
- How much did Beneficient pay for Mercantile Bank?
- The deal value was not disclosed.
- What does Beneficient do?
- Beneficient Company is a provider of liquidity solutions and services for alternative assets.
- Where are Beneficient and Mercantile Bank based?
- Beneficient is based in Dallas, Texas, United States. Mercantile Bank is based in Grand Rapids, Michigan, United States.
- Who are the decision-makers at Beneficient?
- Fundz holds 3 contacts at Beneficient. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Other recent acquisitions in Financial Services and Finance
Deals where the buyer or target shares a sector with this one, within 45 days, from Fundz verified event records.
- Beneficient to acquire Mercantile Bank International Corp. for $1.5 million to expand the range of services, $1.5M (December 5, 2024)
- German American Bancorp, Inc. to merge with Heartland BancCorp to drive long-term shareholder value (October 28, 2024)
- Northwest Bancshares, Inc. to Acquire Penns Woods Bancorp, Inc. Strengthening Regional Presence (December 17, 2024)
- MidFirst Bank completes acquisition of Amerant Bank Houston locations (November 8, 2024)
- CBC BANCORP completes acquisition of BAY COMMUNITY BANCORP (November 1, 2024)
- Atlantic Union Bankshares to merge with Sandy Spring Bancorp aiming to create the largest regional bank in the Mid-Atlantic region (October 21, 2024)
Who to call at Beneficient, and when
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Frequently asked
Who acquired Mercantile Bank?
Mercantile Bank was acquired by Beneficient, based in Dallas. The deal was reported on December 5, 2024. Beneficient Company is a provider of liquidity solutions and services for alternative assets. Beneficient is publicly traded (BENF) and operates in Financial Services.
When did Beneficient acquire Mercantile Bank?
Beneficient's acquisition of Mercantile Bank was reported on December 5, 2024. Beneficient, a technology-enabled platform providing exit opportunities and primary capital solutions, has entered into an agreement to acquire Mercantile Bank International Corp. in exchange for a purchase price of $1.5 million. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Mercantile Bank do?
Mercantile Bank is the company acquired in this transaction. It is publicly traded (MBWM), operating in Financial Services, and is based in Grand Rapids.
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