MB Financial Bank, N.A. (MB) recently entered into an agreement to acquire MSA Holdings, LLC (MSA Holdings), parent company of MainStreet Investment Advisors, LLC (MainStreet) and Cambium Asset Management, LLC (Cambium). MSA Holdings will be a wholly-owned subsidiary of MB. The management team of MSA Holdings, MainStreet and Cambium will remain in place. The transaction is expected to close before year end. While details of the transaction were not announced, MB expects the transaction to be slightly accretive to 2016 earnings per share.
MainStreet, founded in 2003, provides investment advisory services for bank and independent trust companies, as well as insurance companies located throughout the United States. In its capacity as a sub-advisor, MainStreet provides investment recommendations, research, marketing, and investment manager support to its clients.
Cambium was founded in 2014 and is a wealth management firm dedicated to meeting the investment needs of individuals, families, foundations, endowments, and institutions. Cambium’s services include separate account management, retirement planning solutions, as well as a small account platform.
According to Mitchell Feiger, President and CEO of MB Financial, Inc., parent of MB, linking MSA Holdings’ impressive team of wealth management professionals with MB should accelerate growth for both companies. There is significant opportunity to expand the current MainStreet and Cambium market share, in addition to introducing MB services such as capital markets, treasury management, international services and correspondent banking.
“We believe that partnering with MB presents a tremendous opportunity for our clients and for the next generation of MSA Holdings,” said John Crosson, Founder and Managing Member of MSA Holdings. “Our decision to partner with MB is a strategic one and positions us to accelerate our growth and strengthen our business while offering more to our clients.” Duff & Phelps served as the investment banking advisor to MSA Holdings.
MB Financial Bank N.A. is a Chicago-based commercial bank with approximately $15 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals.