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Vecta Partners Llc Announces The Completion Of Its Acquisition Of Sunnyside Bancorp, Inc.

Jun 02, 2022•over 3 years ago

Acquiring Company

Vecta Partners

Acquired Company

Sunnyside Bancorp

Real EstateFinancial ServicesFood And BeverageFinancial ServicesHealth Care

Description

Vecta Partners LLC, a New York-based private equity group, announced today the completion of its acquisition of Sunnyside Bancorp, Inc. (OTCBB: SNNY) ("Sunnyside Bancorp") and its wholly-owned subsidiary, Sunnyside Federal Savings and Loan Association of Irvington ("Sunnyside Federal"), effective as of June 1, 2022.

Company Information

Company

Vecta Partners

About

Vecta Partners LLC, which prior to June 1, 2022 was known as Rhodium BA Holdings LLC, was formed by Mark Silber to purchase Sunnyside Bancorp. Mark Silber is a Managing Partner of Rhodium Asset Management and of Rhodium Capital Advisors, a New York-based fully integrated real estate investment firm with a primary focus on the preservation, acquisition, and management of affordable housing across the United States. Neither Rhodium Asset Management nor Rhodium Capital Advisors participated in the acquisition of Sunnyside Bancorp.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed