BankUnited has acquired a small-business lending platform from Butler Capital Corporation and a municipal leasing business from Koch Financial Corporation. These businesses will serve as the foundation for the bank to provide lease financing services to small businesses, municipalities and governmental entities on a national basis. The commercial financing business acquired from Butler Capital will operate as United Capital Business Lending and will be headquartered in Hunt Valley, Md. United Capital will be led by Bernard Lajeunesse, a seasoned executive of the middle-market lending industry, who most notably served as the president and chief executive officer of Healthcare Business Credit Corporation.
The municipal leasing business acquired from Koch Financial will operate as Pinnacle Public Finance and will be headquartered in Scottsdale, Ariz. Pinnacle Public Finance will be led by Paul Haerle, a 25-year industry veteran of the public finance and tax-exempt leasing industry and former president of Koch Financial.
"These transactions provide an attractive way to diversify our loan portfolio," said BankUnited's Chairman, President and Chief Executive Officer John Kanas. "Both teams have outstanding track records and the national nature of the businesses will allow us to expand our reach. The professionals who will be joining us are among the very best in their fields. Their records of success give us great confidence in their future contributions. These acquisitions will be excellent complements to our company."
"The credit crisis continues to be a hurdle for companies of all sizes," said Lajeunesse. "As a BankUnited company, we can provide businesses with the capital they need and enable the bank to extend its asset-gathering capabilities across the country."
For more information, visit www.BankUnited.com.