Washington-headquartered Financial Pacific is parent company of Financial Pacific Leasing, which provides commercial equipment leases and loans to various sectors in the US.
Flexpoint acquired the business for an undisclosed sum in October 2010.
CEO of Umpqua Holdings’ subsidiary Umpqua Bank Ray Davis said, “At eight times 2012 earnings, this represents a disciplined acquisition which leverages excess capital, deploys excess liquidity into significantly higher yielding assets, provides growth and further diversification, and increases profitability.”
The deal has already been approved by all parties and will close within the next 30 days.
Flexpoint, which is focused on the healthcare and financial services sectors, makes equity investments of $10m to $100m per company.
Back in 2008 the firm raised the $800m Flexpoint Ford Fund II and a $480m sidecar fund to invest alone or alongside the main fund in larger deals.
In October last year, KRG Capital Partners recapitalised Flexpoint’s portfolio company Home Solutions Holdings.
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