November 3, 2015
Oak Ridge Financial Sold to Two Private Investors
The Oak Ridge Financial Services Group, Inc., based in Golden Valley, Minn., today announced that it has been acquired by a holding company controlled by two Minneapolis-based private investors: Russell S. King and Jacob Simms. King is transitioning into the roles of chairman and CEO, replacing current chairman and CEO Marc Kozberg; the rest of the current senior management team is expected to stay in place. Terms of the acquisition were not disclosed.
Oak Ridge Financial is a well-established financial services firm offering a full complement of brokerage, financial advisory and investment banking services to individuals and corporations through two business lines. First, the Private Client Services Group is a full-service financial advisory and brokerage unit with 44 financial advisors serving more than 3,000 clients in 46 states. Its services include securities trading, investment management, estate planning, wealth management and insurance. Second, the Investment Banking Group provides advice on capital raising, mergers and acquisitions and other services to community banks and emerging growth companies throughout the Midwest.
Going forward, Oak Ridge Financial will continue to operate much as it has, but with a greater emphasis on growth in both sectors of its business. The firm will be actively recruiting additional brokers and investment bankers as it implements a comprehensive growth plan. The firm will also consider opening new offices, where appropriate.
"Oak Ridge Financial is incredibly well-positioned for tremendous growth and success, thanks to its outstanding staff and loyal clients," said King. "Jacob and I are excited to help the organization capitalize on its significant potential. We extend our sincere thanks to Marc Kozberg for all he has done to build Oak Ridge. We wish him all the best in his future endeavors."
"Russell and Jacob are the perfect team to see this through, and the company is in great hands with them at the helm," said Kozberg. "They have an exciting plan to grow the company and help our professionals continue to deliver the superior service our clients have come to expect from us."
King and Simms currently hold executive positions at King Capital Corporation, based in Minneapolis, where they serve as president and chief investment officer, respectively. King Capital is a private investment management firm that manages a proprietary portfolio of securities, funds and limited partnerships. The corporation also manages the Peter J. King Family Foundation, which awards major grants to organizations focusing on family initiatives and children's health care and education throughout the Twin Cities area.
About Oak Ridge Financial
The Oak Ridge Financial Services Group, Inc., based in Golden Valley, Minn., has been creating, managing and protecting wealth for its clients since 1977. The organization is an independent, full-service financial services firm providing private client and investment banking services to individual, institutional and corporate customers. With its Financial Institution Group, Oak Ridge is the only Twin Cities-based investment banking firm specializing in capital raising and mergers and acquisitions for community banks. Oak Ridge is a member of FINRA and SIPC. For more information, visit http://www.oakridgefinancial.com/.
March 4, 2015
Oak Ridge Financial Is Pleased To Announce The Return Of Tom Niemiec
Oak Ridge Financial is pleased to announce the return of Tom Niemiec. Tom was previously Senior Managing Director and head of the firm's Emerging Growth Investment Banking team. In his new role, Tom will be serving as a Senior Advisor to the Emerging Growth Team.
January 13, 2015
Oak Ridge Financial Is Pleased To Announce The Addition Of Randy Johnson
Oak Ridge Financial is pleased to announce the addition of Randy Johnson to its Private Client Group. Randy joins us from Stifel. He has been in the Financial Services industry since 1998. In his words "He looks forward to working with the many great people here at Oak Ridge Financial." Welcome Randy.
August 10, 2012
Oak Ridge Financial Announces The Closing Of A Bank Deal
We are pleased to announce that we have successfully closed on a $3,762,500.00 common stock private placement for Northfield Bancshares, Inc.. This is the holding company for Community Resource Bank with offices in Northfield, Cannon Falls, and Roseville.
This is a difficult economic climate to raise private equity for privately held banks but we fully subscribed including using the over allotment.
We continue to work with banks in solving their capital needs.
David Stieber, Ben Crabtree and Craig Mueller
July 19, 2012
Oak Ridge Financial Completes Financings for Miromatrix Medical Inc. and LifeSync Corporation
Oak Ridge Financial’s Emerging Growth Investment Banking Group recently completed financings for two medical technology companies, Miromatrix Medical Inc. and LifeSync Corporation.
In June 2012 Oak Ridge completed a $5.3 million of Series A Convertible Preferred Stock for Miromatrix, which has an exciting regenerative medicine technology for processing tissue and whole organs that is expected to be commercialized initially in the established biomesh market and eventually for complete organ replacement. Based in Eden Prairie, MN, Miromatrix’ technology came out of the University of Minnesota and has received international attention. Oak Ridge placed the shares primarily with individual investors.
In May 2012 The Emerging Growth Group closed on an initial $3 million in a Series A Convertible Preferred Stock offering for LifeSync Corporation. Based in Ft. Lauderdale, Florida, LifeSync produces the leading patient monitor system for hospitals and outpatient facilities with both wireless technology and disposable leads. Oak Ridge placed the shares with institutional investors.
March 7, 2012
Oak Ridge’s Financial Institutions Group to Co-sponsor Seminar with Minnesota Bankers Association on March 29, 2012
Oak Ridge is pleased to announce a co-sponsorship seminar with the Minnesota Bankers Association.
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September 19, 2011
Oak Ridge Completes $10 Million Subordinated Debt Offering for Minnwest Corporation
Oak Ridge is pleased to announce the final closing of its $10 million Subordinated Debt offering for Minnwest Corporation.
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April 22, 2010
Oak Ridge Financial Helps Sponsor The 2010 Lake Harriet Concert Series.
The 2010 Lake Harriet Concert Series is made possible in part through the generosity of Oak Ridge Financial.
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October 1, 2009
The Oak Ridge Financial Services Group, Inc. Names Ben Crabtree Senior Advisor.
Veteran bank analyst will help Financial Institutions Group provide guidance to Community Banks
The Oak Ridge Financial Services Group, Inc. (Oak Ridge) today announced the addition of Ben Crabtree to its Financial Institutions Group as its Senior Advisor. Crabtree brings the Minneapolis-based financial services firm over 30 years of in-depth experience, specializing as a bank analyst. Most recently, he worked for Stifel, Nicolaus & Company as a Principal with primary responsibilities for providing sell-side public equity research on Midwestern community banks.
Oak Ridge’s Financial Institutions Group (FIG) specializes in providing investment banking and fixed income sales and trading services to financial companies including banks, thrifts, insurance companies, money managers, public funds, finance companies and specialty lenders. The company’s team consists of seasoned professionals with many years experience and in-depth knowledge of the capital markets and financial services industry.
In his role with Oak Ridge, Crabtree will be supporting the firm’s community bank clients with a monthly newsletter that will address timely and important issues facing community banks.
“It’s not very often you find someone with Ben’s skills and experiences who is available to join your team at such an opportune time,” stated Oak Ridge Chief Executive Officer Marc Kozberg. “Our executive team is very familiar with Ben’s expertise and depth of banking knowledge, so we know we’re bringing on a veteran senior adviser who will be able to help advise our clients, especially in these unprecedented challenging times for banks” Kozberg said.
Crabtree, a Chartered Financial Analyst, is a graduate of the University of North Dakota. He joins Craig Mueller and David Stieber in the company’s Financial Institution Group.
“Ben has been through difficult banking cycles during his career, and this experience will be extremely helpful for our bank clients,” stated Mueller, the group’s senior vice president. “The community banks need capital solutions now, with the help of Ben, we can identify problems sooner and provide solutions exclusively suited for community banks.” Mueller went on to say “Many community banks have not been allowed to receive the government TARP capital and we are actively working with multiple banks on other capital raising options”.
Oak Ridge, with its Financial Institution Group, is the only Twin Cities based investment banking firm specializing in community banks. Crabtree adds a depth of knowledge and experience that uniquely compliments the rest of the Financial Institution Group.
“I am excited to use the experience I have gained over the years and focus on helping community banks at a time that they are encountering unprecedented strife in their businesses,” Crabtree said. “I look forward to developing articles which identify the obstacles bankers will experience and, with the help of the Financial Institution Group team, identify successful solutions.”
The Oak Ridge Financial Services Group, Inc. has been creating, managing and protecting wealth for its clients since 1977. Oak Ridge has grown to be a diversified, full-service firm that has built a successful reputation for keeping pace with the ever-changing needs of its clients. Oak Ridge is a member of FINRA and SIPIC.
Wound Care Technologies manufactures and sells the DermaCloseTM RC continuous external tissue expander that is used to help close acute and chronic wounds quickly and cost effectively.
August 17, 2009
Oak Ridge Financial Announces Completed Financing For Wound Care
In a challenging market environment, we are pleased to have recently completed this financing for
August 25, 2008
Dear Valued Client,
As you may know, Bear, Stearns & Co. Inc. and Bear, Stearns Securities Corp. were acquired by JPMorgan Chase & Co. earlier this year. We wanted to take a moment to update you on some upcoming name changes to our clearing firm’s broker dealer entities.
Effective October 1, 2008, the name of Bear, Stearns & Co. Inc., the broker-dealer that provides access to financial products and execution services for your account(s), will be changed to J.P. Morgan Securities Inc. In addition, also effective October 1, 2008, Bear, Stearns Securities Corp., the broker-dealer that provides custody and clearing services for your account(s), will be changed to J.P. Morgan Clearing Corp.
After October 1, there will be no material change in the current operation of your account(s) as a result of this renaming. You may notice the new names on account statements, confirmations and other correspondence related to your account(s).
If you have any questions or require further information about this matter, please contact your Investment Professional.
As always, we are committed to providing you with an outstanding client experience. We value your business and appreciate your continued support.
June 30, 2008 Oak
Ridge Closes on oversubscribed $7.5 million
Private Placement for Spineology Inc.
Oak Ridge Financial closed on a $7.5 million Private Equity Placement for Spineology Inc. The Emerging Growth Team set out to raise $5.5 million for Spineology and closed on an additional $2.0 million. Spineology is a pioneer in minimally invasive surgery in the spinal implant industry. The Company’s OptiMesh System enables spine surgery to be completed in a dramatically less invasive manner.
May 17, 2008 Oak Ridge’s Scott Rickford sets new Powerlifting Mark
Scott Rickford beat his own Minnesota State Powerlifting Record for the disabled with a Bench Press of 352 pounds in the 198 pound weight class at the WABDL Nationals held in the Wisconsin Dells. The old record of 325 pounds was set last year. Congratulations Scott!
January 25, 2008 Oak Ridge Annual Holiday Outing
Oak Ridge Financial once again let the rush beat it and held its annual holiday outing on January 25, 2008 at Tuttle’s in Hopkins. Fifty-five employees and their significant others turned out for a fun night of good food, libation and bowling…….yes bowling. Appropriately, Marc Kozberg, our CEO led the way on the lanes by bowling a 192 (Marc says he will give lessons for $50/hour). While we obviously won’t have anyone joining the pro tour anytime soon, we sure had fun. Special thanks to John Clifford, Mike Leonard and Terri Keohokalole for arranging such a fine outing!
November 1, 2007 Tom Herstad joins Emerging Growth Group
September 23, 2007 Oak Ridge’s Scott Rickford and Teammates Defend National Title
Scott Rickford and his teammates from the Courage Rolling Twins defended their National Title at the Seventh Annual Wheelchair World Series of Softball held at Shea Stadium in New York. About a month prior, the Courage Rolling Twins were third in the 31st National Wheelchair Softball Tournament held at Midway Stadium in St. Paul, MN.
August 30, 2007 Oak Ridge Derby At Canterbury Park
Oak Ridge Financial held its Annual Summer Outing on August 30, 2007 at Canterbury Park Race Track. Approximately sixty employees and significant other’s enjoyed an entertaining evening of dining and horse racing. The racing schedule included the Oak Ridge Derby where we all gathered to be seen with the winning horse.
July 7, 2007 Oak Ridge Investment Banking Group adds Financial Institutions Team
Oak Ridge Financial announced that Greg Larson, Craig Mueller and Mike Wier joined the firm to form the Financial Institutions Investment Banking Group. The team will specialize in providing Investment Banking services for financial companies such as banks and bank holding companies. The trio brings an average of 20 years of relevant industry experience to Oak Ridge including securities trading, sales, financial advisory services, commercial lending, loan syndication, deal structuring, and capital formation from major broker-dealers. This new, but experienced Team will provide a nice complement to the firm’s existing Emerging Growth Investment Banking practice.
May 26, 2007 Oak Ridge’s Scott Rickford sets Powerlifting Mark
Scott Rickford set a Minnesota State Powerlifting Record for the disabled with a Bench Press of 325 pounds, which is more than 1.6 times his own weight. He set the record over the Memorial Day weekend at a Midwest Regional Competition in Minneapolis.
May 25, 2007 Oak Ridge is Patron Sponsor of PACER
Oak Ridge Financial was a Patron Sponsor of the 25th Annual PACER Benefit. The mission of PACER Center is to expand opportunities and enhance the quality of life of children and young adults with disabilities and their families, based on the concept of parents helping parents. Founded in 1977, PACER Center was created by parents of children and youth with disabilities to help other parents and families facing similar challenges.
May 23, 2007 Oak Ridge Closes on oversubscribed $8.7 million Private Placement for Cool Clean Technologies, Inc.
Oak Ridge Financial closed on an $8.7 million Private Equity Placement for Cool Clean Technologies, Inc. The Emerging Growth Team set out to raise $6 million for Cool Clean, found strong interest in the offering and closed on an additional $2.7 million. Cool Clean is a leader in advanced cleaning and cooling technologies utilizing CO2. This was the first financing completed by the new Emerging Growth Team and was completed in approximately 60 days.
February 28, 2007 Oak Ridge Adds Key Professionals to Investment Banking Group
Oak Ridge Financial announced that Randy L. Hines, CFA joined Thomas P. Niemiec, CFA to form the Emerging Growth Investment Banking Group at Oak Ridge Financial. The Team will focus primarily on raising capital and providing financial advisory services to emerging growth companies in the Upper Midwest. Combined, Tom and Randy have over 50 years of experience in working with emerging technology and manufacturing companies in the region. With numerous consolidations in the Investment Banking business, Oak Ridge believes it can capitalize on an underserved segment of the market and focus by sponsoring quality emerging companies.