California Bank of Commerce (CBC) announced the launch of its Sponsor Finance Lending Division, led by well-known dealmaker Larry LaCroix.

The division works closely with private equity firms (including Search Funds) and direct lenders to provide cash flow-based senior debt financing.

"We’re pleased to not only announce this new division but, also excited to have Larry join our team,” said Steve Shelton, President and Chief Executive Officer of California Bank of Commerce. “His leadership and background in Sponsor Finance position the bank for continued success.”

In moving into the area of Sponsor Funding on a national level, CBC selected LaCroix and named him an Executive Vice President as well as manager of the new program. LaCroix is a veteran leader in the finance industry, having served as Executive Vice President and Specialty Finance Division Manager at Avidbank, Senior Vice President and Group Manager at Bridge Bank and Senior Vice President and Receivables Capital Management Division Manager at SunTrust. He also has served as Chief Executive Officer of CeltSoft and as Chief Executive Officer and founder at CS Capital Solutions.

The Sponsor Finance Division will support buyouts/acquisitions, recapitalizations, refinancing and growth capital for companies in a variety of industries. CBC Sponsor Finance works with businesses with professional backing providing capital with flexible structures.