The Firm is representing People’s United Bank in connection with the acquisition of LEAF Commercial Capital, Inc. The transaction is expected to close during the third quarter of 2017, subject to customary closing conditions, including the receipt of regulatory approvals.
LEAF Commercial Capital is one of the largest, independent commercial equipment finance companies in the United States with approximately $500 million of annual originations.
People’s United Bank is a subsidiary of People’s United Financial, Inc. (NASDAQ: PBCT), a diversified financial services company with over $40 billion in assets. People’s United Bank, founded in 1842, is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of approximately 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.
The Simpson Thacher team includes Lee Meyerson, Elizabeth Cooper, Yui Hirohashi and Michael Milano (M&A); David Rubinsky, Jeannine McSweeney, Christopher Scavone and Jake Phillips (Executive Compensation and Employee Benefits); Mark Chorazak and Spencer Sloan (Bank Regulatory); Jonathan Goldstein, Sophie Staples and Brian Mendick (Tax); Steve DeLott (Insurance); Lori Lesser (Intellectual Property); Timothy Gallagher (Real Estate); and Timothy Mulvihill (Environmental).