T-Street Capital - Building The Future
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March 30, 2021 04:42 PM Eastern Daylight Time

PITTSBURGH–(BUSINESS WIRE)–Brand Holdings, LLC, a holding company focused on acquiring DTC e-commerce companies in the areas of health and wellness, sports nutrition, beauty and functional foods, among other categories, announced today the acquisition of Simple Botanics, a leading player in the Herbal Tea and Organic Bar market. This represents the second acquisition for the Company, which is backed by Kidd & Company, LLC (“KCO”) and T-street Capital, LLC (“T-street”) (Dale L. Cheney)

“As we noted when we announced the formation of Brand Holdings in July 2020, the DTC e-commerce space has been growing substantially, and the consumer interest in products that promote a healthy lifestyle and self-care during the pandemic has risen even faster”

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Simple Botanics, founded by Kimberly Crupi Dobbins, is a company based on the belief that delicious and good-for-you treats need not be complicated. This passion fueled the desire to create clean energy made of simple, unprocessed ingredients that harness the power of spices and herbs. Today, Simple Botanics executes that vision in the form of both herbal, botanic teas and organic bars.

The first acquisition, Dr. Emil Nutrition, a leading provider of a portfolio of health and wellness supplements as well as sports nutrition products for both the enthusiast athlete and everyday consumer backed by the scientific background of Dr. Emil Hodzovic, was completed in June, 2020.

Brand Holdings will partner with Ms. Dobbins to accelerate growth both in the current product lines as well as add incremental products to the assortment, as the team has done with Dr. Emil Nutrition.

“As we noted when we announced the formation of Brand Holdings in July 2020, the DTC e-commerce space has been growing substantially, and the consumer interest in products that promote a healthy lifestyle and self-care during the pandemic has risen even faster,” said Jeffrey R. Hennion, Chairman & CEO of Brand Holdings. “We are excited to now be partnering with Kimberly to greatly accelerate the growth of Simple Botanics, as the lineup of products she has assembled in the herbal tea and organic food bar space are second to none.”

Kimberly Crupi Dobbins, the Founder of Simple Botanics commented, “Collaborating with Brand Holdings allows us to further our mission of creating great-tasting and healthy snacks and beverages that will continue to innovate the functional food sector. We are delighted to join forces with partners who are committed to clean and healthy living and have found that in Jeff and the team.”

Gerry DeBiasi, a Partner at KCO, commented, “We believe that the products Kimberly has created and the brand she has begun to build will be a great fit for Brand Holdings and a strong complement to Dr. Emil Nutrition. We look forward to working with Kimberly and building the brand significantly going forward.”

Dale Cheney, Managing Partner at T-street, added, “The DTC e-Commerce space continues to grow, and based on our lengthy experience investing in consumer driven businesses, we believe that there is significant potential to grow Simple Botanics across all retail channels, not just the DTC e-Commerce space, as is happening with Dr. Emil Nutrition.”

About Brand Holdings

Brand Holdings, LLC, a holding company focused on acquiring DTC e-commerce companies in the areas of health and wellness, sports nutrition, beauty and functional foods, and other categories is backed by Kidd & Co and T-street Capital. Headquartered in Pittsburgh, PA, Brand Holdings operates two e-Commerce brands: Dr. Emil Nutrition and Simple Botanics.

Dr. Emil Nutrition is a leading provider of a portfolio of health and wellness supplements as well as sports nutrition products for both the enthusiast athlete and everyday consumer backed by the scientific background of Dr. Emil Hodzovic and has amassed a loyal following by leveraging the brand’s science-backed approach to nutritional supplements.

Simple Botanics, founded by Kimberly Crupi Dobbins, is a company based on the belief that delicious and good-for-you treats need not be complicated. This passion fueled the desire to create clean energy made of simple, unprocessed ingredients. Today, Simple Botanics executes that vision in the form of both herbal, botanic teas and organic bars.

About Kidd & Company

Kidd & Company, LLC (KCO), based in Old Greenwich, CT, is the private equity investment arm of the Kidd Family Office. KCO traces its roots to 1976 when the firm’s founding partner, William Kidd, made his first private equity investment. Today, KCO sponsors control equity investments in the lower middle market where the complementary skills and experience of the firm’s partners can be applied to create significant value over time. KCO implements its thesis-driven approach to power above-market growth in revenue and earnings, both organically and through accretive acquisitions. The diverse skill set of the firm’s partners allows KCO to bring management, operational, sales and marketing, corporate finance, and M&A expertise to bear to substantially increase the total value of its investments. For more information, visit www.kiddcompany.com.

About T-street Capital

T-street is an independent investment firm whose primary mission is to partner with founders and management teams to support the growth and strategic development of small to mid-size businesses focused on emerging consumer product brands. The team has a diverse background of consumer investing and operating expertise that can be supportive in providing a flexible and tailored equity solution for accelerated expansion. T-street’s consumer-focused categories include, food & beverage, health & wellness, active lifestyle, fitness & nutrition, leisure & entertainment, and beauty & personal care. T-street was founded in 2013 by the General Partner, Dale Cheney. For more information on T-street, please visit www.t-street.com.

Contacts

Mia Campbell [email protected]

NEW YORK, March 8, 2021 /PRNewswire/ — T-street Capital, LLC (“T-street”), a consumer-focused growth equity fund, announced today that it has completed an investment in the high-performance backcountry superfan brand, Hyperlite Mountain Gear, Inc. (Hyperlite). Based in Maine and founded in 2010 by brothers Mike and Dan St. Pierre, Hyperlite is a disruptor within the branded backcountry gear market and a leading innovator, designer, and manufacturer of high-tech, ultralight gear including backpacks, tents, and accessories. Mike St. Pierre created Hyperlite to provide the backcountry athlete with the most technologically advanced materials and innovative products that are lightweight, durable, and highly water-resistant, thereby providing for a transformational outdoor experience. Hyperlite’s philosophy of “Essentialism” in the outdoors and focus on authenticity have established a loyal fan base, positioning the company to achieve accelerated growth and realize its vision of becoming the leading performance brand for the backcountry consumer with a broad and integrated product offering. Dale Cheney, General Partner at T-street, commented, “We believe that we’ll continue to see strong growth trends within the health & wellness and outdoor industry, and the Hyperlite brand has successfully captured the consumer’s passion for authenticity and high-performance. Hyperlite is well positioned to benefit from the rising demand for outdoor gear for the avid backcountry adventurer.” Cheney continued, “We are very enthusiastic to partner with such amazing founders, Mike & Dan St. Pierre, as well as the exceptional team that they have assembled which includes some of the most talented and innovative professionals in the outdoor industry.”

Mike St. Pierre, CEO of Hyperlite, noted, “This investment marks an important milestone for Hyperlite as we prepare to accelerate our growth and continue to execute our vision of providing the consumer with the knowledge and best-in-class ultralight products and integrated solutions for a transformational outdoor experience.” Will Manzer, Chairman of Hyperlite and former Chairman of the Outdoor Industry Association, added, “We welcome T-street’s successful experience and expertise in developing emerging consumer product brands. T-street shares a passion for our brand and truly supports our strategy and vision for the future, and we look forward to a successful partnership as we continue to expand Hyperlite both domestically and internationally.”

About T-street CapitalT-street is an independent investment firm whose primary mission is to partner with founders and management teams to support the growth and strategic development of small to mid-size businesses focused on emerging consumer product brands. The team has a diverse background of consumer investing and operating expertise that can be supportive in providing a flexible and tailored equity solution for accelerated expansion. T-street’s consumer-focused categories include, food & beverage, health & wellness, active lifestyle, fitness & nutrition, leisure & entertainment, and beauty & personal care. T-street was founded in 2013 by the General Partner, Dale Cheney. For more information on T-street, please visit www.t-street.com.

Media Contact:Dale Cheney[email protected]

SOURCE T-street Capital, LLC

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PITTSBURGH–(BUSINESS WIRE)–Dr. Emil Nutrition, a leading growth company providing health and wellness products, has announced its commitment to support Vitamin Angels, a global public health and nutrition organization, that provides essential vitamins and minerals to pregnant women and children under five in all 50 U.S. states and around the world.

“With the generous support of Dr. Emil Nutrition, we will reach even more nutritionally vulnerable children around the world with the essential vitamins they need for a healthy future.”

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Through the partnership with Dr. Emil Nutrition, Vitamin Angels has a target of reaching over 1 million children at-risk for malnutrition this year.

Effective immediately, for every bottle sold, Dr. Emil Nutrition will make a donation to Vitamin Angels to provide 6 months of life-changing nutritional support to a child in need.

“We are thrilled to be partnering with Dr. Emil Nutrition, a company that truly cares about making the world a healthier place,” said Howard Schiffer, Vitamin Angels Founder & President. “With the generous support of Dr. Emil Nutrition, we will reach even more nutritionally vulnerable children around the world with the essential vitamins they need for a healthy future.”

“Our commitment to health extends beyond our customers,” said Jeffrey R. Hennion, Chairman & CEO of Brand Holdings & Dr. Emil Nutrition. “Through our partnership with Vitamin Angels, we’re able to support the health of those in need around the world, by giving back for every Dr. Emil Nutrition product we sell. In such a critical time for the health of children, we are thrilled to be able to give back and targeting a goal of helping over 1 million kids worldwide.”

In 2020, Vitamin Angels received its 9th 4-star rating from Charity Navigator (CN), the premier charity evaluator. This puts Vitamin Angels in the top 3% most trustworthy charities in America. Charity Navigator has also named Vitamin Angels one of its “10 Best Humanitarian Relief Organizations” and “10 of the Best Charities Everyone’s Heard Of.”

About Vitamin Angels
Founded in 1994, Vitamin Angels is a global public health and nutrition organization that provides evidence-based nutrition interventions to underserved pregnant women and children under five. Annually, Vitamin Angels reaches approximately 70 million mothers and children in more than 70 countries, including every state in the U.S. Both Charity Navigator and GuideStar give Vitamin Angels their highest marks for financial transparency. To learn more, visit www.vitaminangels.org.

About Dr. Emil Nutrition:
Dr. Emil Nutrition is a leading, growth health and wellness brand selling direct to its customers through its website and through its leading presence on Amazon. Its products, from Collagen to 5-HTP to a full line of immunity products to its sports nutrition brands, Mana by Dr. Emil and Fortis by Dr. Emil, are designed to help people of all ages and lifestyles live their life to the fullest. Dr. Emil Nutrition is a subsidiary of Brand Holdings, LLC, an enterprise focused on acquiring and growing businesses in the eCommerce space. For more information, visit www.dremilnutrition.com or email [email protected].

Contacts

Media Contact: Sarah Hoffman Dr. Emil Nutrition [email protected] 844-437-3645

STAMFORD, Conn., July 7, 2020 /PRNewswire/ — Kidd & Company, LLC (“KCO”) and T-street Capital, LLC (“T-street”) announced today that they have partnered to create a Direct to Consumer (“DTC”) e-commerce strategy by forming Brand Holdings, LLC, a holding company focused on acquiring DTC e-commerce companies with a focus on health and wellness, sports nutrition, beauty and functional foods. KCO and T-Street announced the completion of the first acquisition, Dr. Emil Nutrition (“Dr. Emil” or the “Company”). Dr. Emil is a leading provider of a portfolio of health and wellness supplements as well as sports nutrition products for both the enthusiast athlete and everyday consumer backed by the scientific background of Dr. Emil Hodzovic. The Company is experiencing remarkable growth and has amassed a loyal following by leveraging the brand’s science-backed approach to nutritional supplements.

KCO and T-street will partner with Dr. Emil Hodzovic, the medical doctor and nutrition/wellness expert behind the brand, and industry veteran Jeff Hennion, who will serve as the Executive Chairman and Chief Executive Officer of Brand Holdings and Dr. Emil Nutrition. Hennion’s prior experience includes his leadership role as Executive Vice President, Chief Marketing & E-Commerce Officer of GNC, as well as Executive Vice President and Chief Marketing Officer of Dick’s Sporting Goods. Hennion also served as Chief Executive Officer of JEGS Automotive, a specialty automotive aftermarket company, where he led the transition from a catalog company to a DTC e-commerce brand. He currently serves on the Board of Directors of Briggs & Stratton, is Chairman of the Advisory Board at Listrak, is the co-Founder and Managing Partner of Woodside Ventures, Inc., a leading, high growth e-commerce digital agency, and is an advisor to a number of e-commerce and technology companies. Hennion’s decades of expertise in marketing and e-commerce will be beneficial as KCO and T-street continue to build Dr. Emil into a premier, all-natural health, wellness, and sports nutrition supplement franchise.

Jeff Hennion commented, “The DTC e-commerce space is growing substantially, especially given changing consumer behavior during this pandemic and the shift in marketing mix moving forward, and we are excited about the opportunity to create a portfolio of DTC e-commerce brands with a focus on growth. Dr. Emil Nutrition has tremendous momentum because it offers natural, clean products and has successfully developed a broad portfolio of science-backed formulations to serve the growing needs of a diverse group of customers.”

Dr. Emil Hodzovic commented, “My goal is to help people achieve their health, wellness and nutrition goals – and this is why I helped to create Dr. Emil Nutrition originally. I look forward to working with Jeff, KCO and T-street to enhance the Dr. Emil Nutrition brand, further develop the product line, and build a deeper relationship with our customer base.”

The U.S. nutritional supplement market is growing at a robust rate, with the sports nutrition segment poised for the most significant growth as the market expands to include a significantly broader array of customers. While historically e-commerce has been a surprisingly small share of supplement sales, its share of the overall market is expected to double by 2022. Specifically, sports nutrition products sold through e-commerce will continue to offer the highest growth potential for the future of the industry.

Gerry DeBiasi, a Partner at KCO, commented, “The market for nutritional supplements is undergoing a momentous shift as e-commerce continues to play an increasingly critical role in consumer purchasing behavior. Dr. Emil has demonstrated proven success with online sales and is well positioned to benefit from these industry trends. We aim to grow the brand significantly going forward, as well as explore opportunities to leverage the DTC space and grow Brand Holdings.”

Dale Cheney, Managing Partner at T-street, added, “Dr. Emil Nutrition has built a remarkable business on a foundation of improving people’s lives through innovation in health, wellness, and sports nutrition products for the everyday consumer. We look forward to a strong partnership with KCO and Jeff Hennion as we continue to build Dr. Emil Nutrition into the leading franchise for health & wellness with a focus on sports nutrition, beauty and functional foods.”

About Kidd & CompanyKidd & Company, LLC (KCO), based in Old Greenwich, CT, is the private equity investment arm of the Kidd Family Office. KCO traces its roots to 1976 when the firm’s founding partner, William Kidd, made his first private equity investment. Today, KCO sponsors control equity investments in the lower middle market where the complementary skills and experience of the firm’s partners can be applied to create significant value over time. KCO implements its thesis-driven approach to power above-market growth in revenue and earnings, both organically and through accretive acquisitions. The diverse skill set of the firm’s partners allows KCO to bring management, operational, sales and marketing, corporate finance, and M&A expertise to bear to substantially increase the total value of its investments. For more information, visit www.kiddcompany.com.

About T-street CapitalT-street is an independent investment firm whose primary mission is to partner with founders and management teams to support the growth and strategic development of small to mid-size businesses focused on emerging consumer product brands. The team has a diverse background of consumer investing and operating expertise that can be supportive in providing a flexible and tailored equity solution for accelerated expansion. T-street’s consumer-focused categories include, food & beverage, health & wellness, active lifestyle, fitness & nutrition, leisure & entertainment, and beauty & personal care. T-street was founded in 2013 by the General Partner, Dale Cheney. For more information on T-street, please visit www.t-street.com.

Media Contact: Dale Cheney, [email protected]

SOURCE T-street Capital, LLC

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STAMFORD, Conn., March 3, 2020 /PRNewswire/ — T-street Capital, LLC (“T-street”) announced today that it has completed a follow-on investment in popular healthy snack company, That’s It Nutrition, LLC (“That’s it.®”). That’s it.® is an innovative and authentic healthy snack company dedicated to using simple and easy ingredients made from real plant foods, and in some cases, organic dark chocolate. The Company provides a broad offering of on-the-go fruit and vegetable snacks using only natural, non-GMO, preservative-free, and allergen-free ingredients and nothing else. T-street’s follow-on investment will be used to support the Company’s remarkable growth and immediate expansion opportunities.

Dale Cheney, General Partner at T-street, stated, “The Company has tremendous momentum because it offers what consumers need. Better-for-you snacks provide a stress-free solution for busy lifestyles because they offer consumers a portable and convenient way to eat healthier.” Cheney continued, “Lior and his exceptional team at That’s it.® are at the forefront of consumer behavior and natural foods innovation by providing organic, gluten-free, and plant-based snacks with superior and clean nutritional profiles.”

Lior Lewensztain, CEO of That’s it.®, commented, “Our partnership with T-street has been very successful because they share a passion for our brand and truly support our strategy and vision for the future.” Lior added, “We appreciate their expertise in developing emerging consumer product brands and we look forward to the ongoing partnership as our Company continues to innovate within the natural foods category and expand our product offering both domestically and internationally.”

About T-street Capital
T-street is an independent investment firm whose primary mission is to partner with founders and management teams to support the growth and strategic development of small to mid-size businesses focused on emerging consumer product brands. The team has a diverse background of consumer investing and operating expertise that can be supportive in providing a flexible and tailored equity solution for accelerated expansion. T-street’s consumer-focused categories include, food & beverage, health & wellness, active lifestyle, fitness & nutrition, leisure & entertainment, and beauty & personal care. T-street was founded in 2013 by the General Partner, Dale Cheney. For more information on T-street, please visit www.t-street.com.

Media Contact: Dale Cheney, [email protected]

SOURCE T-street Capital, LLC

STAMFORD, Conn., Feb. 26, 2020 /PRNewswire/ — T-street Capital, LLC (“T-street”), a consumer-focused growth equity firm, announced today that Greg Peterson has joined T-street as a Vice President. Peterson will play a key role in supporting T-street’s continued growth and strategy of providing a flexible and tailored equity solution to the most promising entrepreneur-owned companies focused on emerging consumer product brands.

Dale L. Cheney, Managing Partner of T-street, commented, “We are thrilled to have an experienced professional like Greg join our team at T-street. Greg has developed an impressive track record during his time at Goldman Sachs and his transaction experience with premier clients will be immediately accretive to T-street. He will play a vital role in driving value in new and existing portfolio companies and supporting T-street’s future fundraising initiatives.”

Prior to joining T-street, Peterson was an Investment Banking Associate at Goldman Sachs in New York, completing a variety of transactions within the Global Natural Resources Group. Peterson began his career in the Investment Management Division at Goldman Sachs in New York. Peterson received a B.A. in Economics and Accounting from the College of the Holy Cross.

About T-street Capital
T-street is an independent investment firm whose primary mission is to partner with founders and management teams to support the growth and strategic development of small to mid-size businesses focused on emerging consumer product brands. The team has a diverse background of consumer investing and operating expertise that can be supportive in providing a flexible and tailored equity solution for accelerated expansion. T-street’s consumer-focused categories include, food & beverage, health & wellness, active lifestyle, fitness & nutrition, and beauty & personal care. For more information on T-street, please visit www.t-street.com.

Contact:
Dale Cheney
[email protected]

NEW YORK, June 19, 2109 /PRNewswire/ — T-street Capital, LLC (“T-street”) announced today that it has made an additional investment into its portfolio company Simplex – Infrastructure Solutions, LLC (“Simplex”) in order to complete the acquisition of Dayton Superior ‘s Paving Division (“Dayton”). This acquisition establishes Simplex as the leading manufacturer and supplier of highway infrastructure products and solutions throughout North America, and successfully positions the company for further expansion into ancillary products and services.

Dale L. Cheney, Managing Partner of T-street, and Sarah Bazey, Founder and President of Simplex, have assembled an accomplished board of directors with the addition of Jeffrey Hanes, former CEO of Carter-Waters, Steve Morrey, former CEO of Dayton Superior, and Mark Kaler who will take the helm as CEO to spearhead the integration. Cheney will serve as Chairman of the Board.

“This is an extraordinary opportunity to bring together the two most dominant players in the industry, and with such complimentary business models. We are integrating Simplex’s best-in-class business development team and West Coast dominance, with Dayton’s industry-leading manufacturing capabilities and Midwest and East Coast dominance,” said Cheney. “Simplex is the only coast-to-coast and cradle-to-grave manufacturer and supplier of specialty reinforcing steel for concrete paving infrastructure in the United States.”

Bazey added, “The company’s product innovation and quality are unparalleled in the industry. Simplex’s robust distribution and industry-leading manufacturing operations will allow flexibility to meet the demands of contractors and to provide consistent quality assurance for federal and state DOTs.” The acquisition and combination with Dayton creates a combined footprint of 450,000 square feet under roof and 25 acres of capacity across four locations in Ontario, CA; Carlyle, IL; Kankakee, IL; and Minneapolis, MN.

“This is an extraordinary opportunity to bring together the two most dominant players in the industry, and with such complimentary business models. We are integrating Simplex’s best-in-class business development team and West Coast dominance, with Dayton’s industry-leading manufacturing capabilities and Midwest and East Coast dominance,” said Cheney. “Simplex is the only coast-to-coast and cradle-to-grave manufacturer and supplier of specialty reinforcing steel for concrete paving infrastructure in the United States.”

NEW YORK, June 18, 2019 /PRNewswire/ — T-street Capital, LLC (“T-street”) announced today that it has completed the spinout of a private equity portfolio from a well-established publicly traded commercial bank. T-street acquired the private equity holdings from the bank’s affiliated small business investment company fund and raised a new $75.0 million committed fund to continue its focus on growth equity investments. Dale L. Cheney, one of the managing partners of the bank’s small business investment company fund, will continue as the managing general partner of T-street Opportunity Fund I, L.P. (“Fund I”).

The Limited Partners in Fund I are led by sophisticated institutional investors, Committed Advisors and Timber Bay Partners. Mr. Cheney commented, “We are grateful for the strong support from our investor base and look forward to delivering strong returns as we grow the portfolio.”

T-street will continue the strategy of providing a flexible and tailored equity solution to high-growth, entrepreneur-owned companies in the consumer products and specialty manufacturing sectors. Mr. Cheney further commented, “We prefer to work with entrepreneurs because they have tremendous passion and great vision. Every successful entrepreneur has a unique story that we admire, and we can be supportive in building a platform for accelerated expansion without compromising the core values of the company.”

Mr. Cheney began his career at Goldman Sachs after completing his MBA at Harvard Business School. Following his career at Goldman, he was an investment professional at Citicorp Venture Capital where he also served as interim Chief Executive Officer of a distressed portfolio company and successfully executed a turnaround. Mr. Cheney launched the bank’s private equity fund in 2016 now preceded by T-street.

About T-street Capital
T-street is an independent growth equity firm that works in partnership with founders and management teams to grow their businesses through a combination of capital investment, acquisitions, and other opportunistic and strategic initiatives. We can do both minority and control investments in lower middle market companies based in North America. We focus on three sectors: consumer products, food & beverage, and specialty manufacturing. We generally look for platform companies with EBITDA of $3 million to $15 million. For more information, please visit our website at www.t-street.com.

About Committed Advisors
Committed Advisors is an independent private equity firm with over USD 3.0 billion of discretionary committed capital under management focused on secondaries, co-investments and primaries. Founded in 2010, the firm is headquartered in Paris with affiliate offices in New York and Singapore. The team has completed in excess of 100 transactions over the last 9 years, providing a broad range of solutions to investors and general partners seeking liquidity or new options for their private equity assets. To learn more, please visit www.committedadvisors.com.

About Timber Bay Partners
Timber Bay Partners is an independent private equity firm focused on GP-led secondary transactions. Founded in 2016 and headquartered in Cincinnati, OH, the firm’s investment professionals have worked with general partners for more than a decade to structure unique and creative solutions to liquidity issues faced by mature private equity funds. Timber Bay Partners manages $135 million of committed capital as of March 31, 2019. For more information about Timber Bay Partners, visit www.timberbaypartners.com.

IRVINE, Calif.–(BUSINESS WIRE)–Opus Bank (“Opus”) (NASDAQ: OPB) announced today that its Merchant Banking division, through its broker-dealer subsidiary, Opus Financial Partners, served as financial advisor to Destination Pet, LLC (“Destination Pet”), a leading provider of a broad array of pet care services, on its placement of $30 million of debt and equity growth capital. The financing was led by McLarty Capital Partners (“McLarty”), an SBIC debt and equity provider to lower middle market companies. Opus Bank’s bank-sponsored SBIC Fund, Opus Equity Partners, which made a growth equity investment in Destination Pet earlier this year to support the company’s initial nine-location platform, also provided additional growth capital alongside McLarty’s financing. This transaction further highlights the capabilities of Opus Bank’s Merchant Banking platform as a one-stop principal investment and advisory solution.

Dale Cheney, President of the Merchant Banking division, stated, “We are excited to further our relationship with Shane Kelly and the rest of the Destination Pet team, and look forward to working alongside the company as it continues on its growth trajectory. The long-term capital solution provided by McLarty and Opus Equity Partners will enable Destination Pet to execute on its national expansion strategy through the continued acquisition and buildout of top-quality pet care facilities.”

Shane Kelly, CEO of Destination Pet, commented, “We are enthusiastic to partner with McLarty as we continue to grow the Destination Pet platform. The new financing from McLarty and the additional growth capital from Opus Equity Partners will allow us to bring the Destination Pet experience to an even greater number of pet owners and their pets.”

Parris Boyd, Principal of McLarty, added, “Destination Pet has built an incredible business supported by a clear growth strategy and a significant pipeline of acquisitions in the pet care space. We look forward to a successful partnership with Shane and his experienced team of executives as they expand Destination Pet to become a leading provider of pet care services.”

About Opus Bank’s Merchant Banking Division
Opus Bank’s Merchant Banking division is an integrated principal investing and financial advisory platform that provides a broad range of direct investment and advisory solutions to lower middle-market companies. The Merchant Banking division includes Opus Equity Partners, LLC, the advisor to the Opus Bank-sponsored private equity SBIC Fund that provides growth capital to successful and dynamic companies in need of a capital solution beyond what is customarily available from traditional bank sources. The Merchant Banking division also includes Opus Financial Partners, LLC, Opus Bank’s wholly-owned registered broker-dealer, an investment banking group that provide advisory solutions to lower middle-market companies for mergers & acquisitions, leveraged buy-outs, growth equity capital, junior and senior debt, recapitalizations, and other broad transactional support to assist companies in their business development efforts.

About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $7.7 billion of total assets, $5.2 billion of total loans, and $6.3 billion in total deposits as of June 30, 2017. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, Merchant Bank and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, public finance, media and entertainment, corporate finance, multifamily residential, commercial real estate and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy and performance improvement through its Merchant Banking Division and its broker-dealer subsidiary, Opus Financial Partners, LLC, Member FINRA/SIPC. Opus Bank’s alternative asset IRA custodian subsidiary has $16 billion of custodial assets and more than 52,000 client accounts as of September 15, 2017, which client accounts are comprised of self-directed investors, financial institutions, capital raisers and financial advisors. Opus Bank operates 51 banking offices, including 31 in California, 17 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com.

Forward-Looking Statements
This release may include forward-looking statements related to Opus Bank’s plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in, or suggested by, the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “intend” or “expect” or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

IRVINE, Calif.–(BUSINESS WIRE) – Opus Bank (“Opus”) (NASDAQ: OPB) announced today that its bank-sponsored SBIC Fund, Opus Equity Partners, has made a growth equity investment in That’s It Nutrition, LLC (“That’s it.®”). That’s it.® provides a variety of delicious and healthy snacks with a focus on fruits and vegetables, and delivers unprecedented taste, texture, and cleanliness of ingredients listed on the product label. That’s it.® products use only natural, non-GMO ingredients and nothing else. The company was founded by Dr. Lior Lewensztain with the focus on improving the quality of life of children and adults worldwide by making fruits and vegetables and their benefits accessible to people everywhere.

Dale Cheney, Managing Partner at Opus Equity Partners, stated, “Lior and his team at That’s it.® have worked very hard to build an innovative brand that has clearly redefined the healthy snacks category, by creating delicious, non-GMO fruit products for the on-the-go consumer focused on a healthy lifestyle.” Cheney continued, “From our first meeting, we have been extremely impressed by the clear brand vision and growth strategy, and we are thrilled to partner with Lior and his very talented team to support the next stage of the growth story.”

Lior Lewensztain, CEO of That’s it.®, commented, “Opus’ SBIC fund is a unique, forward-thinking partner that is not typical in the investment community.” Lior added, “They share a passion for our brand and truly support our vision, while providing a tailored capital solution that makes sense for our company and growth objectives. We are very excited to have their expertise in developing consumer brands, and look forward to this partnership and to a successful future.”

About Opus Bank’s Merchant Banking Division
Opus Bank’s Merchant Banking division is an integrated principal investing and financial advisory platform that provides a broad range of direct investment and advisory solutions to lower middle-market companies. The Merchant Banking division includes Opus Equity Partners, LLC, the advisor to the Opus Bank-sponsored private equity SBIC Fund that provides growth capital to successful and dynamic companies in need of a capital solution beyond what is customarily available from traditional bank sources. The Merchant Banking division also includes Opus Financial Partners, LLC, Opus Bank’s wholly-owned registered broker-dealer, an investment banking group that provide advisory solutions to lower middle-market companies for mergers & acquisitions, leveraged buy-outs, growth equity capital, junior and senior debt, recapitalizations, and other broad transactional support to assist companies in their business development efforts.

About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $8.0 billion of total assets, $5.4 billion of total loans, and $6.7 billion in total deposits as of March 31, 2017. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, Merchant Bank and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions.

Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy and performance improvement through its Merchant Banking Division and its broker-dealer subsidiary, Opus Financial Partners, LLC, Member FINRA/SIPC.Opus Bank’s alternative asset IRA custodian subsidiary has over $13 billion of custodial assets and approximately 47,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers and financial advisors. Opus Bank operates 56 banking offices, including 32 in California, 21 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website at: www.opusbank.com.

IRVINE, Calif. – (BUSINESS WIRE) – Opus Bank (“Opus”) (NASDAQ: OPB) announced today that its bank-sponsored SBIC Fund, Opus Equity Partners, has made a growth equity investment in Destination Pet, LLC (“Destination Pet”), a leading provider of a broad array of pet care services. Destination Pet is focused on the acquisition and buildout of top-quality pet facilities to provide pet owners with superior care by utilizing a one-stop location that includes boarding, daycare, grooming, training, and veterinary services. Opus Equity Partners will partner with an experienced team led by Shane Kelly, an executive with several decades of pet care and veterinary experience, to carry out a national expansion strategy.

Dale Cheney, Managing Partner of Opus Equity Partners stated, “We are excited to partner with Shane Kelly, who brings considerable industry experience and a proven ability to execute the Destination Pet growth strategy.” Cheney continued, “Shane really understands the consumer in this business – they’re busy but they also want the best for their pets. Destination Pet’s unique model is intended to redefine pet care services by providing pet owners with an efficient experience through a single location for quality services that traditionally require multiple providers and trips.”

Shane Kelly, CEO of Destination Pet, commented, “We are excited to work with Opus Equity Partners as we continue to expand our strategy of providing a quality experience for both pet owners and pets alike. The role and influence of the common household pet is evolving – more and more a pet is viewed and treated as a member of the family. Destination Pet provides the level of personal care and attention that one would expect for any family member by providing a centralized location that offers comprehensive, top-quality care across the pet services spectrum.”

About Opus Bank’s Merchant Banking Division
Opus Bank’s Merchant Banking division is an integrated principal investing and financial advisory platform that provides a broad range of direct investment and advisory solutions to lower middle-market companies. The Merchant Banking division includes Opus Equity Partners, LLC, the advisor to the Opus Bank-sponsored private equity SBIC Fund that provides growth capital to successful and dynamic companies in need of a capital solution beyond what is customarily available from traditional bank sources. The Merchant Banking division also includes Opus Financial Partners, LLC, Opus Bank’s wholly-owned registered broker-dealer, and an investment banking group that provide advisory solutions to lower middle-market companies for mergers & acquisitions, leveraged buy-outs, growth equity capital, junior and senior debt, recapitalizations, and other broad transactional support to assist companies in their business development efforts.

About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $8.0 billion of total assets, $5.4 billion of total loans, and $6.7 billion in total deposits as of March 31, 2017. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, Merchant Bank and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions.

Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy and performance improvement through its Merchant Banking Division and its broker-dealer subsidiary, Opus Financial Partners, LLC, Member FINRA/SIPC. Opus Bank’s alternative asset IRA custodian subsidiary has over $13 billion of custodial assets and approximately 48,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers and financial advisors. Opus Bank operates 56 banking offices, including 32 in California, 21 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website at: www.opusbank.com.

IRVINE, Calif. – (BUSINESS WIRE) – Opus Bank (“Opus”) (NASDAQ: OPB) announced today that its bank-sponsored SBIC Fund, Opus Equity Partners, has made a growth equity investment in both Simplex Supplies, Inc. (“Simplex”), and Lightcap Industries, Inc., doing business as JC Supply & Manufacturing (“JC”). The combination of Simplex and JC establishes a leading vertically integrated manufacturer and supplier of infrastructure products and solutions to bridge and paving contractors throughout America. Opus Financial Partners, LLC, Opus’ registered broker-dealer subsidiary, raised senior and subordinated debt financing to support the transaction, demonstrating the capabilities of Opus’ merchant banking platform and one-stop principal investing and advisory solution.

Opus Equity Partners will partner with Sarah Bazey, the founder, owner and CEO of Simplex, to integrate Simplex’s robust distribution business with JC’s industry leading manufacturing operations, benefiting from a combined footprint of 260,000 square feet under roof, and 20 acres of capacity across three locations in Ontario, CA, Carlyle, IL, and Minneapolis, MN.

Dale Cheney, Managing Partner of Opus Equity Partners stated, “JC has built an incredible business on a foundation of strong organic growth and excellent manufacturing execution under the leadership of Jerry and Connie Lightcap. The company’s product innovation and quality is unparalleled in the industry.” Cheney continued, “We are enthusiastic to partner with such a highly accomplished CEO in Sarah Bazey, who brings over 30 years of infrastructure experience with a focus on bridges and highways. Sarah brings a wealth of industry knowledge and professional relationships that should enable the successful expansion into additional geographic areas and product offerings.”

Sarah Bazey, CEO of Simplex, commented, “We are excited about the partnership with Opus’ SBIC Fund and the future of our industry. From the top down, the organization is committed to working with our customers to reinforce America.” Bazey added, “The FAST Act authorized $305 billion in highway spending through 2020. The combination of JC and Simplex, and the competitive advantage of a vertically integrated organization with superior product quality and customer service, positions us well to play a leadership role in shaping the new infrastructure investment across the country.”

Jerry and Connie Lightcap, Co-Founders of JC, commented, “Our employees have helped us build an outstanding company, and we look forward to a successful partnership with Simplex who shares our values and commitment to becoming one of the leading infrastructure companies in the country.”

About Opus Bank’s Merchant Banking Division
Opus Bank’s Merchant Banking Division is an integrated principal investing and financial advisory platform that provides a broad range of direct investment and advisory solutions to lower middle-market companies. The Merchant Banking Division includes Opus Equity Partners, LLC, the advisor to the Opus Bank-sponsored private equity SBIC Fund that provides growth capital to successful and dynamic companies in need of a capital solution beyond what is customarily available from traditional bank sources. The Merchant Banking Division also includes both Opus Financial Partners, LLC, Opus Bank’s wholly-owned registered broker-dealer, and an investment banking group that provide advisory solutions to lower middle-market companies for mergers & acquisitions, leveraged buy-outs, growth equity capital, junior and senior debt, recapitalizations, and other broad transactional support to assist companies in their business development efforts.

About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $7.9 billion of total assets, $5.7 billion of total loans, and $6.7 billion in total deposits as of December 31, 2016. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, Merchant Bank and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions.

Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy and performance improvement through its Merchant Banking Division and its broker-dealer subsidiary, Opus Financial Partners, LLC, Member FINRA/SIPC. Opus Bank’s alternative asset IRA custodian subsidiary has over $12 billion of custodial assets and approximately 48,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers and financial advisors. Opus Bank operates 56 banking offices, including 32 in California, 21 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website at: www.opusbank.com.

IRVINE, Calif.–(BUSINESS WIRE)–Opus Bank (“Opus Bank”) (Nasdaq: OPB) announced today that Opus Equity Partners Opportunity Fund I, L.P. (“SBIC Fund”) has received final committee approval for a license from the United States Small Business Administration (the “SBA”) to operate as a Small Business Investment Company (“SBIC”). Opus Bank expects that the SBIC license will be issued following final action by the SBA Administrator. The SBIC Fund will be advised by Opus Bank’s wholly-owned subsidiary, Opus Equity Partners, LLC. Opus Bank will sponsor the SBIC Fund with an anchor investment of $25 million, and it is anticipated that other investors in the SBIC Fund will primarily include banks seeking CRA investment credit and an alternative investment opportunity. The SBIC Fund managers will include Stephen H. Gordon, Founding Chairman, CEO and President of Opus Bank, Michael Allison, Co-President of Opus Bank, and Dale Cheney, President of Opus Bank’s Merchant Banking Division. Dale Cheney, President of the Merchant Banking Division continued, “The investment strategy of the SBIC Fund is focused on non-control, growth equity investments in highly profitable lower middle-market companies. While the lower middle-market is the largest segment, it is also the most inefficient when it comes to accessing institutional equity investment and sophisticated solutions. As a principal investor, our SBIC Fund will target this void in the market by partnering with talented management teams to provide the growth equity capital and strategic guidance necessary to unlock value and realize their vision, while not over-leveraging the SBIC Fund’s portfolio companies.” (Dale Cheney)

Stephen H. Gordon, Founding Chairman, Chief Executive Officer and President of Opus Bank stated, “The establishment of this unique bank-sponsored, unleveraged SBIC fund is a meaningful differentiator that will enable Opus Bank to not only commit its balance sheet by providing senior debt solutions but also further address a company’s capital needs by committing equity.” Gordon added, “The growth equity investments that will be made by our principal investment platform will complement Opus Bank’s Merchant Banking, Commercial Banking and Wealth Services Divisions by providing a one-stop capital and advisory solution to both existing and prospective clients of the bank.”

Dale Cheney, President of the Merchant Banking Division continued, “The investment strategy of the SBIC Fund is focused on non-control, growth equity investments in highly profitable lower middle-market companies. While the lower middle-market is the largest segment, it is also the most inefficient when it comes to accessing institutional equity investment and sophisticated solutions. As a principal investor, our SBIC Fund will target this void in the market by partnering with talented management teams to provide the growth equity capital and strategic guidance necessary to unlock value and realize their vision, while not over-leveraging the SBIC Fund’s portfolio companies.”

About Opus Bank’s Merchant Banking Division

Opus Bank’s Merchant Banking Division is an integrated principal investing and financial advisory platform that provides a broad range of direct investment and advisory solutions to lower middle-market companies. The Merchant Banking Division includes Opus Equity Partners, LLC, the advisor to the Opus Bank-sponsored private equity SBIC Fund that provides growth capital to successful and dynamic companies in need of a capital solution beyond what is customarily available from traditional bank sources. The Merchant Banking Division also includes both Opus Financial Partners, LLC, Opus Bank’s wholly-owned registered broker-dealer and an investment banking group that provide advisory solutions to lower middle-market companies for mergers & acquisitions, leveraged buy-outs, growth equity capital, junior and senior debt, recapitalizations and other broad transactional support to assist companies in their business development efforts.

Connect with Opus Bank

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About Opus Bank

Opus Bank is an FDIC-insured California-chartered commercial bank with $7.5 billion of total assets, $6.1 billion of total loans and $6.2 billion in total deposits, as of June 30, 2016. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy, and performance improvement through its Merchant Banking Division and its broker-dealer subsidiary, Opus Financial Partners, LLC. Opus Bank’s subsidiary, PENSCO Trust Company, is a leading tech-enabled alternative asset IRA custodian with over $12 billion of custodial assets and over 48,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers, and financial advisors. Opus Bank operates 56 banking offices, including 32 in California, 21 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona, and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com.

Forward-Looking Statements

This release may include forward-looking statements related to Opus Bank’s plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in, or suggested by, the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “intend” or “expect” or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

AMERICAN FORK, Utah, Aug. 25, 2016 /PRNewswire/ — Four Foods Group (FFG), a restaurant concept incubator and accelerator company based in American Fork, Utah, announced it has completed the placement of over $35 million of growth capital to fund their expanding operations. The company has raised funds from various commercial and alternative sources including $18 million from Opus Bank, $12 million from Red Bridge Capital and over $7 million from other private capital providers. The funds will be used to expand FFG’s business operations and relationships across multiple brands by utilizing its established operating processes, expertise, systems and relationships to accelerate the growth of emerging restaurant brands and concepts.

“We have proven, with the Kneaders Bakery and Café brand, that we can accelerate restaurant concepts profitability through our platform,” said Andrew K. Smith, Four Foods Group Chief Executive Officer. “We provide the requisite receipe for success, including providing resources for growth, management and all back office functions.”

FFG has built and opened 43 Kneaders Bakery & Café restaurants throughout the Western United States with five additional units currently in development. The company is projected to surpass over $100 million in revenue in 2016, a number that recently placed them on the Inc. 5000 list for the fifth consecutive year.

FFG has established teams for in-house real estate, development and construction, facility management and set-up, operations, human resources, recruiting, hiring and training, payroll and benefits administration, IT support, marketing, financial oversight, accounting and investment financing. FFG provides capital in addition to the support services for the business to grow while allowing the operating partner to maintain significant equity in the business as revenue increases.

“We do something unique in the restaurant business by bringing a platform of tools and years of business operations and financial experience that enable our restauranteur partners to grow rapidly, while mitigating the usual pitfalls associated with meaningful expansion,” said Smith.

Dale Cheney, Senior Managing Director, Head of Opus’ Merchant Banking Division added, “We are enthusiastic to partner with a very talented executive in Andrew K. Smith, and we look forward to supporting Andrew and all of the dedicated FFG executives and employees in realizing their aspiring vision for the company.”

Shane Peery, Managing Director of Red Bridge Capital added, “The expertise and process that the FFG real estate and development team have in place makes them a good partner for this credit facility. We look forward to working with FFG as they continue developing new restaurant brands and are excited to expand our long-standing relationship with them.”

“Our success with the Kneaders brand is a combination of our systems and a wonderful brand concept,” continued Smith. “We are now ready to partner with additional restaurant concepts that can benefit from our proven process. Having access to this additional capital will fuel new growth.”

An important element of FFG’s strategy is to attract brands and restauranteurs who don’t have the full suite of operating systems or financial backing necessary to truly accelerate a restaurant business. FFG intends to marry these needs with the entrepreneurial spirit and desire for ownership that undercapitalized would-be restauranteurs often possess.

“When a restaurant operating company like FFG and an entrepreneur both wake up in the morning thinking about the business the same way — like owners — great things happen for everyone,” said Smith. “It’s a winning formula.”

To learn more about FFG’s approach to restaurant operation and acceleration, visit www.fourfoodsgroup.com.

About Four Foods Group

Four Foods Group (FFG) is a restaurant development, investment and management company with 43 restaurant locations and additional sites in development or under construction. FFG has ranked among Inc. magazine’s 500/5000 Fastest Growing Companies in America for five consecutive years, and as a Fast 50 company for 5 years running. The company currently employs over 1,800 employees in multiple states, with more than 100 at their corporate offices in American Fork, Utah. Their restaurants rank among the Technomic Top 150 Fast Casual Restaurants.

SOURCE Four Foods Group

IRVINE, Calif.–(BUSINESS WIRE)–Opus Bank (“Opus”) (Nasdaq: OPB) announced today that the Small Business Administration (“SBA”) has issued a “Green Light” letter inviting Opus to continue its application process to obtain a license to form and operate a Small Business Investment Company (“SBIC”).

The SBA issued a “Green Light” letter to Opus after reviewing preliminary application materials and interviewing the proposed SBIC investment team. Receipt of a “Green Light” letter from the SBA does not assure an applicant that the SBA will ultimately issue an SBIC license, and Opus Bank has received no assurance or indication from the SBA that it will receive an SBIC license, or of the timeframe in which it would receive an SBIC license, should one be ultimately granted.

Stephen H. Gordon, Founding Chairman, Chief Executive Officer and President of Opus Bank, stated, “Since Opus’ inception, we have adhered to an entrepreneurial approach to partnering with our clients by providing the capital funding and strategic advice necessary to enable their vision to expand and grow. The establishment of a bank-sponsored SBIC is a meaningful differentiator that will enable Opus to not only commit its balance sheet by providing senior debt solutions, but also to further address a company’s capital needs by committing equity.” Gordon added, “The SBIC will have an investment strategy of focusing on making non-controlling, growth equity investments in lower middle-market companies located in the Western region. Opus Bank is sponsoring the fund, and it is expected that Stephen H. Gordon, Michael Allison, and Dale Cheney will act as the fund managers.”

Dale Cheney, Senior Managing Director, Head of the Merchant Banking division, stated, “The growth equity investments contemplated to be made by our principal investment platform will complement Opus’ Merchant Banking and Commercial and Specialty Banking divisions by providing a one-stop capital and advisory solution to lower middle-market companies. While the lower middle-market is the largest segment, it is also the most inefficient when it comes to accessing institutional growth equity investment and sophisticated solutions. As principal investors, we will partner with management teams, owners, and entrepreneurs to provide the growth equity investment and strategic guidance necessary to unlock value and realize the company’s growth objectives.”

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with over $5.8 billion of total assets, $4.6 billion of total loans, and $4.6 billion in total deposits as of June 30, 2015. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial business, healthcare, technology, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy, and performance improvement through its Merchant Banking division and its broker-dealer subsidiary, Opus Financial Partners. Opus Bank operates 57 client experience centers, including two in the Phoenix metropolitan area of Arizona, 33 in California, and 22 in the Seattle/Puget Sound region in Washington. For additional information about Opus Bank, please visit our website: www.opusbank.com. Opus Bank is an Equal Housing Lender.

Forward-Looking Statements

This press release contains “forward-looking statements.” These forward-looking statements include information, which is subject to change and subject to risks, uncertainties, and assumptions. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “intend” or “expect” or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus Bank undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.