SKB, a merchant bank and development advisory firm, is selling Capital West Associates Inc. back to the principals from whom it acquired the business, Linda Lucas and George Bean, who have been and will continue to work out of SKB's Portland offices, specializing in small corporate pension funds, endowments and foundations.
"SKB's niche has been high-net-worth individuals and families and we want to continue to grow nationally and internationally in that arena," Scanlan tells GlobeSt.com. "There will be a lot of opportunities in the next couple of years, especially in the San Francisco-San Jose area, and we want to be ready to strike while the iron is hot and not be held back by having to check with pension committees."
As a result, Scanlan says Capital West will focus on small cap funds and, when they have a stable of those and can facilitate the kinds of things we are doing at SKB, that capital will again be available for SKB and, in turn, Capital West will get the deal flow.
"It allows us to do what we do best apart and have the two parts create a bigger whole," says Scanlan, explaining that Capital West will continue to handle certain key asset assignments on an adhoc basis going forward. "Ultimately, they may be brought back into the fold--when we get to a billion dollars or so."
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