Dechert Represents StoneCastle Partners in Its Sale of StoneCastle Insured Sweep, LLC (d/b/a interLINK) to Webster Bank
December 05, 2022
Dechert LLP represented StoneCastle Partners, LLC, in its definitive agreement to sell StoneCastle Insured Sweep, LLC (d/b/a interLINK) to Webster Financial Corporation’s principle bank subsidiary, Webster Bank, N.A. The transaction is expected to close in the first quarter of 2023.
Dechert also represented StoneCastle in the sale of interLINK to Veritex Holdings, Inc. earlier this year, which did not ultimately close.
StoneCastle Partners develops businesses focused on banking and associated technologies.
InterLINK provides cash management solutions to financial intermediaries, facilitating the investment of cash held in thousands of brokerage accounts into FDIC-insured banks.
Webster Financial Corporation is the holding company for Webster Bank, National Association, and its HSA Bank division.
The Dechert team advising StoneCastle included corporate partner Ken Young, counsel John Alessi and associates Lisa Perri and Leila Hatem; financial services partners David Harris and Corey Rose; tax partner Edward Lemanowicz and associate Harris Cornell; employee benefits partner Howard Klein and associate Tabitha Crosier; labor partner Ian Downes and counsel Jeffrey Rubin; antitrust partner James Fishkin and counsel Beverly Ang; and banking regulation counsel Robert Rhatigan.
About Dechert
Dechert is a leading global law firm with 21 offices around the world. The firm advises on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
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