Dechert Advises StoneCastle Partners in Its Sale of StoneCastle Cash Insured Sweep
March 03, 2022
Dechert is advising StoneCastle Partners, LLC in the sale of its subsidiary, StoneCastle Cash Insured Sweep, LLC (d/b/a interLINK), to Veritex Holdings, Inc., the parent holding company for Veritex Community Bank.
The transaction is a cash and stock transaction valued at approximately US$91 million and is expected to close in the third quarter of 2022.
StoneCastle Partners develops businesses focusing on banking and associated technologies.
StoneCastle Cash Insured Sweep provides cash management solutions to financial intermediaries, facilitating the investment of cash held in brokerage accounts into FDIC-insured banks.
The Dechert team advising StoneCastle Partners includes corporate partner Kenneth Young, counsel John Alessi and associate Lisa Perri; financial services and investment management partners David Harris and Corey Rose; tax partner Edward Lemanowicz and associate Harris Cornell; and employee benefits partner Howard Klein.
About Dechert
Dechert is a leading global law firm with 22 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.
Related Professionals
