Amerisource Business Capital, an independent asset-based provider for businesses based in Houston, acquired two specialty finance units carved out from MidSouth Bank.
There were more than 1,200 businesses in the loan portfolio bought by Amerisource Business Capital. The company typically underwrites loans between $1 million but no more than $20 million for manufacturers, wholesalers and oilfield services companies, according to its website.
Neither the value of the loan portfolio nor the financial details of the deal were disclosed.
Three employees from MidSouth also joined Amerisource Business Capital, which opened an office in Lafayette.
“This acquisition immediately expands our product offerings and capabilities, as well as our footprint in the Louisiana market," Michael Monk, managing partner of Amerisource said in a news release.
Hancock Whitney acquired MidSouth Bank in a $214 million deal that closed in September. The merger resulted in 90 layoffs at MidSouth Bank, but Hancock Whitney hired on 85 of them, bringing its total number of employees in Acadiana to 178.