Pine Tree Equity Acquires Celtic Capital

In the most challenging of financing markets, Pine Tree Equity I, LP (“Pine Tree Equity”) acquired Celtic Capital Corporation (“Celtic Capital” or the “Company”) in December 2008. The Company, founded in 1982 and headquartered in Santa Monica, CA, is a leading regional provider of asset based financing from $500,000 to $5,000,000 to small businesses in the western United States.

Pine Tree Equity partnered with the founding entrepreneur of Celtic Capital to reacquire the platform from Discovery Bancorp. Subsequently, Pine Tree Equity acquired add-on portfolios of asset based loans to small businesses from Sovereign Bank and Textron Financial Corporation. For additional information, please visit www.celticcapital.com.