NexBank Capital, Inc. Acquires Barrier Advisors; Forms New Broker Dealer Organization.DALLAS -- NexBank Capital Inc., the parent company of NexBank SSB SSB Statistisk Sentralbyrå (Statistics Norway) SSB Super Smash Bros (video game) SSB Space Studies Board SSB Single Side Band SSB Single Stranded DNA-Binding Protein SSB Salomon Smith Barney , has announced the acquisition of Barrier Advisors, a nationally recognized financial advisory and corporate restructuring firm. NexBank has also announced the formation of NexBank Securities, a licensed broker dealer, as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . "The addition of Barrier Advisors and NexBank Securities to NexBank Capital provides clients with access to a greater breadth of financial resources," said Davis Deadman, NexBank CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Barrier clients will see added benefits in our close relationship with NexBank SSB and NexBank Securities," said Kent Laber, Senior Managing Director of Barrier Advisors. "NexBank's access to capital expands our ability to reorganize re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. middle market companies while NexBank Securities gives our clients access to an expanded menu of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. ." Laber noted that NexBank's role and contacts as an agent bank "also enhances our ability to pursue new business opportunities." "NexBank Securities has extensive experience in institutional fund raising for alternative investments including hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" and real estate syndications," Deadman noted. "Together the three companies have the financial strength and flexibility to pursue opportunities involving real estate, leveraged loans, bridge loans, recapitalizations, refinancing, debt restructurings Debt Restructuring A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in order to achieve some advantage. Notes: , and acquisitions, as well as debtor-in-possession and exit financing." NexBank, SSB, a middle market bank that excels in structuring financing for opportunistic situations, is chartered under the laws of the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Savings & Mortgage Lending. NexBank offers next generation banking services and solutions to middle market businesses and high-net worth individuals. It was originally chartered in 1922. Founded in 2001 and based in Dallas, Barrier Advisors is a corporate reorganization firm specializing in middle market turnarounds and restructurings. Barrier's clients include hedge funds, commercial money center banking institutions, committees of secured and unsecured creditors Unsecured Creditor An individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because they have nothing to fall back on should the borrower default on the loan. A debenture holder is an unsecured creditor. , private equity firms, boards of directors and management teams. Barrier's products and services cover the entire spectrum of corporate reorganization, including: in and out of court restructurings, valuation, plan negotiation, corporate finance transactions, operational performance enhancement and business plan development. NexBank Securities is a broker dealer that offers trade execution, mutual fund distribution, and placement agency services for hedge funds and real estate partnerships. |
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