RICHMOND, VA – March 28, 2012 – Cary Street Partners served as a financial advisor to the management team of Northpoint Commercial Finance, LLC (“Northpoint”). Prior to the formation of Northpoint, Cary Street provided investment banking services to the management team during its discussions with potential partners. On March 8, 2012, the management team and affiliates of Perella Weinberg Partners’ Asset Based Value strategy announced the formation of Northpoint, a new company providing inventory financing to manufacturers and their distribution and dealer networks throughout the United States.
“Cary Street was a very steady and professional partner to the Northpoint management team throughout the process,” said Dan Radley, CEO of Northpoint Commercial Finance. “We are thrilled to be partnering with Perella Weinberg Partners’ Asset Based Value strategy as we seek to become a leading North American provider of diversified floorplan finance products and services. We see a tremendous opportunity to fill a void in the floorplan lending market.”
About Cary Street Partners
Cary Street Partners provides investment banking and wealth management solutions to individuals, institutions and companies from its Southeastern base. The investment banking team provides a broad range of services including merger and acquisition advisory services, private placements of debt and equity capital, and strategic and financial advice to management teams and boards of directors of emerging growth and middle market public and private companies across a variety of industries. It has offices in Richmond, Virginia; Atlanta, Georgia; Fredericksburg, Virginia; Abingdon, Virginia, Wytheville, Virginia, Greensboro, North Carolina; Charlotte, North Carolina and Johnson City, Tennessee. Cary Street Partners is the trade name used by two separate limited liability companies, Cary Street Partners Investment Advisory LLC, a registered investment advisor; and Cary Street Partners LLC, a registered broker-dealer and a member of FINRA and SIPC.
For more information about this transaction or Cary Street Partners’ investment banking group, please contact Joe Brower at 336-275-8080 or Tom Tullidge at 804-521-3340. Additional information about Cary Street Partners can be found at www.carystreetpartners.com.