Kirton McConkie-Aided Acquisition Kicks Off Path for Fintech Entrepreneurs
In 2021, Chad Grange, a shareholder in Kirton McConkie’s Corporate and International sections, represented client Northern California National Bank (NorCal) in an agreement with investors to acquire 100% of the bank's shares through a tender offer to all its stockholders. William Hockey, a tech entrepreneur, who co-founded Plaid, a $13-billion company focused on democratizing financial services through technology, purchased NorCal in this tender offer transaction. The NorCal acquisition became an integral piece in Hockey’s newly formed, technology-focused, (and now) federally chartered bank named Column, specifically for companies to offer financial services quicker and easier, and which aims to disrupt the status quo in the banking industry.
According to Chad, these kinds of acquisitions "allow our clients to become major players in the fast-emerging fintech industry." Kirton McConkie attorneys represent many clients in acquisitions like these and lend their expertise to ensure successful outcomes.
Read more about the Hockeys' path and ventures through the articles below:
The Wall Street Journal - Plaid Co-Founder Takes Aim at Rickety Banking Tech
Forbes - Plaid's Billionaire Cofounder is Back with a New Startup—A Fintech-Friendly Bank he's Running with his Wife
TechCrunch - Plaid Co-Founder's Next Venture is a Bank to Power Fintech Apps