Siena Lending Group
In 2012, Solaia acquired the core U.S. team of Burdale Capital Finance, Inc. (BCF), a highly regarded asset-based lender and wholly-owned subsidiary of the Bank of Ireland. BCF had underwritten over $2.5 billion of credit facilities with exceptional performance over its five year life. In connection with the mandated de-leveraging of the Bank of Ireland, BCF’s assets were sold to Wells Fargo. Solaia led the spin-out of the BCF team, which was relaunched as Siena Lending Group. Siena serves the needs of small businesses in the U.S. by providing collateralized senior credit facilities in the $1-$20 million range. Siena originates asset-based loans for its own balance sheet and provides a turn-key syndication and servicing platform for community banking partners and credit investors seeking asset class diversification.
Patriot National Bancorp
In 2010, Solaia acquired a controlling interest in Patriot National Bancorp, Inc. (NASDAQ: PNBK) through its bank holding company affiliate. Patriot is a nationally chartered commercial bank with approximately $700 million in assets and 15 branches located in New York and Connecticut. Patriot was rescued from imminent failure through a $50 million control recapitailization and a carefully engineered recovery plan that management has been effectively implementing.
Click here for SEC Filings.
AmQuip Crane Rental
Acquired in 2007, AmQuip is a Northeastern, regional leader of crane rental and related services. AmQuip owns and operates more than 500 cranes, ranging from 6-ton truck cranes to 500-ton all-terrain and crawler cranes, serving a diverse customer base across many industry sectors. An affiliate of Solaia led the acquisition of AmQuip and provided a succession planning and liquidity solution to its retiring founder.