The Alta Group, a global consultancy specializing in the equipment leasing and financing industry, announced that its client, Baytree National Bank & Trust Co. of Lake Forest, Illinois, had sold its equipment leasing and financing assets and business to North Community Bank, a subsidiary of Chicago-based Metropolitan Bank Group, Inc. Alta initiated the transaction and served as exclusive financial advisor to Baytree National Bank & Trust Co.
 
North Community Bank has approximately $2.4 billion in assets and 91 branch locations in the Chicago metropolitan area.  It is a full service commercial bank offering an array of banking products and services to retail and business customers.
 
A spokesman for the acquired leasing business, which operates under the name Baytree Financial Group, stated that the leasing team will continue its business as a part of North Community Bank and offer specialized finance and leasing programs in areas such as healthcare and medical equipment, information technology solutions, industrial equipment, veterinary equipment and office automation products.
 
Alta’s Merger & Acquisition Advisory Practice provides both buy and sell side advisory services, funding management and capital raising services, due diligence services and valuation services. Bruce Kropschot is senior managing director and Merger & Acquisition Advisory Practice leader.  He and his colleagues have arranged the acquisition of over 200 equipment leasing and financing companies, including three transactions in recent months. Regarding this latest transaction, Kropschot stated, “It was gratifying to satisfy our client’s sale objectives and find an excellent home for the top-quality Baytree leasing team.”