Focus Strategies Investment Banking Advises American Bank on its Acquisition of ACG Equipment Finance
has successfully acquired
Austin, Texas – (February 10, 2022) – American Bank, a Corpus Christi-based community bank, has acquired ACG Equipment Finance (“ACG”), a fully integrated direct equipment financing company headquartered in Austin. Focus Strategies, LLC (“Focus Strategies”) served as the exclusive financial advisor to American Bank, which closed in December 2021.
Founded in 1970 and headquartered in Corpus Christi, Texas, American Bank has established itself as a leading regional Texas bank with over $2 billion in assets and 13 locations across Central and South Texas. American Bank’s unique, relationship-oriented, personal approach has been the foundation of the bank’s success for the last 50+ years. This acquisition marks an exciting milestone in its strategic plan.
“We are fortunate to have found a partner in ACG that shares our culture and values. Both organizations are committed to providing high-level customer service and forward-thinking products and services. This acquisition sets the stage for exciting next steps for us as we continue our growth strategy and enhance the bank’s service offerings,” said Stephen Raffaele, Chief Executive Officer and President of American Bank. “The support of the Focus Strategies team throughout this process played a significant role in our successful outcome. We were especially grateful for their substantial industry experience and strategic guidance from our initial conversations until the deal was closed.”
“This is an exciting transaction for both American Bank and ACG. When two companies that have tremendous history and reputation join forces, it creates meaningful synergies and significant, long-term value. We appreciated the opportunity to advise American Bank and its management team throughout this process and wish both organizations continued success,” said Gary Valdez, President of Focus Strategies.