When E*Trade Financial Corp announced last month that it was acquiring Trust Company of America, it meant the online investing and trading site was making a push for growth. It also meant a small Denver law firm was continuing its streak of advising on blockbuster financial mergers.
A team from Shapiro Bieging Barber Otteson represented TCA in negotiations that enabled the company to strike a deal to be bought by E*Trade for $275 million in cash. E*Trade announced the definitive agreement Oct. 19 in its 3rd quarter report. TCA is an Englewood-based company that provides technology and custody services to registered investment advisors.
The nine-figure deal is the latest in a recent string of large finance industry mergers in which SBBO had a hand. The firm represented Aurora-based Citywide Banks in its $241 million merger with Centennial Bank & Trust, a subsidiary of Heartland Financial, a deal that closed in July. SBBO also represented Guaranty Bancorp in a $133.7 million merger with Home State Bank in September 2016, as well as ColoEast Bankshares and CIC Bankshares in their respective acquisitions.
In this year alone, SBBO will close banking sector deals approaching a billion dollars in considerations. “It’s definitely been a busy year in that space for us,” said firm attorney Bo Anderson, who with Christian Otteson led the team advising TCA through negotiations with E*Trade.