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New Deal


Announced

Completed

FirstSun Capital completed the acquisition of wealth management business of CIT.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

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Friendly

Asset Managers and Custodians

Majority

Acquisition

Completed

Private Equity

wealth management

Single Bidder

United States

Private

Synopsis

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FirstSun Capital, a community bank, completed the acquisition of wealth management business of CIT Group, a financial holding company and bank holding company. Financial terms were not disclosed. "We are pleased to have completed this transaction with FirstSun where the business and team can be part of a broader wealth management strategy. We remain focused on our core strengths and creating an integrated banking offering for our key commercial and consumer segments of the market," Ellen R. Alemany, CIT Chairwoman and Chief Executive Officer.

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