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March 09, 2015
Cadwalader, Wickersham & Taft LLP, a leading counselor to global financial institutions and corporations, is representing BankUnited, Inc. (NYSE: BKU) in its definitive agreement to acquire the Small Business Finance Unit of CertusHoldings, Inc. in an asset purchase transaction.
The Small Business Finance Unit, consistently one of the top 20 Small Business Administration (“SBA”) lenders in the United States, originates, sells and services small business loans pursuant to the SBA’s 7(a) loan program and CDC/504 loan program and the U.S. Department of Agriculture’s Business & Industry and Community Facilities loan programs.
In connection with the transaction, BankUnited will acquire the Small Business Finance Unit’s loan portfolio, which totaled approximately $203 million as of January 31, 2015, as well as substantially all of its operating assets, and will assume certain of its operating liabilities.
The Cadwalader team is led by partner Scott Cammarn (Financial Regulation); partner Linda Swartz (Tax); and partner Dorothy Auth (Intellectual Property).
BankUnited, Inc., with total assets of $19.2 billion at December 31, 2014, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with 100 branches in 15 Florida counties and 6 banking centers in the New York metropolitan area at December 31, 2014.
