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.
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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.
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.
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