Regions Financial Corp. on Friday announced that it had entered into a definitive agreement to acquire merger and acquisitions firm Clearsight Advisors, Inc.
Clearsight serves an array of clients across a diverse set of industries including technology, professional services, data and information services, and digital and technology-enabled services.
According to a release, Regions Financial plans to integrate Clearsight into Regions Bank’s growing Capital Markets division. The bank’s parent company advised that the acquisition will allow for the expansion of specialty services for existing and future technology sector clients.
Clearsight is a provider of independent mergers-and-acquisitions advisory services to entrepreneurs, companies and institutional investors that participate in the high-growth global knowledge economy.
Joel Stephens, head of Capital Markets for Regions Bank, advised that Clearsight’s values align with those of the Birmingham-based financial institution.
“Regions Bank and Clearsight Advisors are both known for taking a holistic, insightful view of our clients’ needs and delivering customized solutions based on our depth of market knowledge and our passion for delivering a superior client experience,” said Stephens. “Our cultures and approach to teamwork directly complement each other, and we look forward to welcoming the team from Clearsight and combining our strengths to deliver strategic solutions for technology industry clients.”
He added, “The combination of Clearsight’s sector-specific M&A and financial advisory services, and Regions’ extensive technology sector corporate finance, lending and capital markets solutions, represents a significant opportunity to deliver value for our collective client base. This, along with our commitment to world-class service and attention to detail, will help us deepen relationships and build new relationships in this space.”
Clearsight co-founder and CEO Joel Kallett expressed excitement over his firm joining Regions’ business operations.
“We are thrilled to be joining forces with Regions Bank to expand services and capital raising options for our clients,” proclaimed Kallett. “Over the last decade, Clearsight has grown to be an M&A advisory leader in the burgeoning knowledge economy. Strategically, we were seeking a partner that would help us expand our ability to provide a more fulsome suite of services and capital options for our growing client base, while identifying the right culture match for our team. We have found the ideal partner in Regions Bank to help us enhance our client solutions while also building on the culture and team dynamic that have been a hallmark of Clearsight since its founding.”
The acquisition comes on the heels of Regions’ acquisition of Sabal Capital Partners, LLC, a financial services firm which holds clients in the small-balance commercial real estate market. The firm is now part of Regions’ Real Estate Capital Markets division.
Regions Financial Corp. chief financial officer David Turner indicated that the recent transactions will expand the institution’s services and enhance client experience.
“Our strategic plan at Regions includes identifying areas where we can expand specialty capabilities to offer more solutions to clients while growing our customer base,” said Turner. “Regions’ agreement to acquire Clearsight Advisors, as well as our acquisitions of Sabal Capital Partners, home improvement lender EnerBank, Ascentium Capital, and others, reflect this strategy in action. As a result, Regions is even better positioned to drive positive results for a wider range of clients as we build on our long-term growth.”
According to the announcement, Regions’ acquisition of Clearsight is expected to close by the year’s end.
Dylan Smith is a staff writer for Yellowhammer News. You can follow him on Twitter @DylanSmithAL
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