Private Equity Firms Invest $27.5 Million in Bridgewater Bank

Private Equity Firms Invest $27.5 Million in Bridgewater Bank

  • Posted: 06/28/2016
  • Castle Creek

Bloomington, MN–(Bridgewater Bank)–Bridgewater Bancshares Inc, (the “Company”) the holding company for Bridgewater Bank announced today that it has completed a private placement of $27.5 Million for the Company’s common stock. The Company plans to use the capital for strategic growth purposes which may include both organic and acquisition opportunities. Funds managed by EJF Capital LLC, Endeavour Capital Advisors Inc. and GCP Capital Partners participated in the offering.

“Partnering with EJF, Endeavour and GCP gives Bridgewater the leverage to continue funding the board’s strategic growth initiatives.” explained Chairman and Chief Executive Officer, Jerry Baack. “The capital from Castle Creek’s investment in 2015 was integral to securing the Bank’s first acquisition. We don’t anticipate any shift in our momentum. This new influx will allow us to consider emerging opportunities to build the brand and serve the needs of a growing client base.”

Bridgewater Bancshares has completed several capital raises since inception in 2005. The original capital raise in 2005 funded the bank’s launch with $10 million. Subsequent capital raises, dating back to 2008, have generated a total of $15 million. In 2015, Castle Creek Capital LLC became the bank’s first institutional investor with an investment of $15 million. That influx of capital funded the bank’s first acquisition and provided the leverage for the Bank to surpass $1 billion in assets.

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