Palladium Equity Partners Announces Investment in PROMERICA Bank

Comprehensive, Trusted, Relevant & Useful
HispanicTips has 40,214 stories & 100,000+ visitors a month..
Posted on: October 27th, 2006
Filed Under: [ Business ] [ Hispanic News ] [ Press Releases ]

Newsletter readers - Don't forget HispanicTIPS - Gracias, Tomás

“Palladium Equity Partners, LLC today announced that it has signed a definitive agreement to invest in PROMERICA Bank (I.O.), the first Latino-owned commercial bank to form in California in more than 30 years. This is the second investment of Palladium Fund III, which closed in March 2006 with $520 million of committed capital.

Palladium’s investment focus is on companies which are well-positioned to capitalize on the fast-growing U.S. Hispanic market, making PROMERICA Bank (I.O.) an ideal investment partner. Maria Contreras-Sweet, PROMERICA Bank (I.O.) Chairwoman and former Secretary of the Business, Transportation and Housing Agency for the State of California, explained, “While we are proud of the milestone we have achieved, we expect even greater accomplishments as the bank engages small businesses, be they Latino, Asian, non-ethnic or women-owned, in a concerted effort to expand the economic landscape of the region. Our approach to banking will provide our clients access to senior leadership in the personal, high touch environment they deserve.”"

Stumble it! | | AddThis Feed Button

Other posts that may interest you

Palladium Equity Partners to Open California Office

Palladium Invests in Todobebe

Palladium Equity Partners Acquires Manufacturer of La Vaquita Products, Castro Cheese Company

Tapping Into the Hispanic Market - New York Times

Promerica Bank Approved for SBA Express Loan Program

Bank of America Announces $1 Million Program Related Investment and $100,000 Grant to ACCION USA

BMP Announces New CEO, $111 Million of New Equity

New America Alliance Honors Business Leaders with 2006 NAA Awards at Sixth Wall Street Summit in New York City

Marking a series of firsts with the transaction, Palladium Equity Partners LLC has taken control of Taco Bueno with funds from a $400-million-plus acquisitions pool targeting companies with Hispanic appeal. Taco Bueno is the private equity firm's first restaurant chain and the fund's flagship acquisition.

Nogales Investors Raises $245 Million Nogales Fund II; Will Target Investments in Middle Market Companies in U.S.





Check us out!