First Financial Services sold to the 1st financial bank in SD

Premier Financial Services, a specialty finance company in Woodbury, Connecticut, has been sold to 1st Financial Bank USA in Dakota Dunes, SD

Premier, which provides leases for used Ferraris, Porsches, McLarens, Lamborghinis and other luxury cars, did not disclose the price paid by 1st Financial, an asset of $ 634 million.

“Over the past 24 years, my goal has been to build a company recognized in the industry for its integrity, world-class customer service and ability to help serious enthusiasts drive the cars of their dreams,” said the CEO by Prime Minister Mitch Katz in the press release.

“With retirement in mind, I have spent the last year searching for an established institution that shares my passion for the business and that also has the financial resources that will allow Premier to achieve an even greater level of success. high, in terms of market penetration. Katz added.

“Our financial resources and capabilities as a bank, along with Premier’s in-depth automotive knowledge and relationships in the exotic and vintage car market, will be a winning combination that will benefit dealers and retailers alike. car enthusiasts, ”James Hegyi, senior vice president at the bank, said in the statement.

Solic Capital Advisors advised Premier.

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