SAN JOSE, CA--(Marketwire - March 1, 2011) - Bridge Capital Holdings (
Established in 1956 to support the electrical demands of the expanding Bay Area, Consolidated Parts has continued to provide access to the best brands in motor control and distribution. In late 2009, Alex Vaysberg and Thomas Powers formed a partnership to acquire Consolidated Parts, Inc. in Santa Clara, CA. As part of their planned expansion, they wanted to purchase a building to meet their space needs. "Bridge Bank financed the purchase of their property in Santa Clara last summer," said Ken Mannina, Senior Vice President and Regional Sales Manager of Bridge Bank's SBA Group. "The transaction went so well that the client gave us the opportunity to refinance their headquarters in Burlingame, CA and to solicit their entire banking relationship. Bridge Bank was able to offer a suite of products that meets the current and future needs for this fast growing group of companies."
"The Bridge Bank team was certainly persistent in giving us an offer we could not refuse. We deliberated a long time on this issue and have decided to switch our banking relationship to Bridge. It was definitely a hard decision as our current bank has treated us well, but we must do what is best in the long term for our businesses," said Alex Vaysberg, President, All Industrial Electric Supply and Managing Partner for Consolidated Parts.
All Industrial Electric Supply is headquartered in San Mateo County and is a leading provider of electrical components to various end users. "The combination of credit facilities will provide the companies greater financial flexibility for existing business needs, as well as support for their future growth in Santa Clara County," states Cathy Galusha, Relationship Manager, Corporate Banking Division at Bridge Bank. "Bridge Bank is proud to be part of this expansion process and we look forward to sharing in the firms' continued success."
About All Industrial Electric Supply
With over 100 years of employee experience in the electrical distribution and automation industry, the firm carries a full line of electrical products including all fittings, wire, circuit breakers of all brands, safety switches, fuses, contactors and starters, lamps, and much more. All Industrial Electric Supply is headquartered in Burlingame. Visit them on the web at www.allindustrialsupply.com.
About Consolidated Parts, Inc.
Consolidated Parts, Inc., (CPI) specializes in sales of industrial electric motor controls systems to end users such as large building facility operators, users that require temperature/refrigeration control, water/waste plants, bio-tech lab space and hospitals. In addition to various end-users, CPI sells directly to HVAC contractors. CPI has been in existence since 1956 and has a long-standing client base. Visit them on the web at www.consolidatedparts.com.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National Association. Bridge Capital Holdings was formed on October 1, 2004 and holds a Global Select listing on The NASDAQ Stock Market under the trading symbol BBNK. For additional information, visit the Bridge Capital Holdings website at www.bridgecapitalholdings.com.
About Bridge Bank, N.A.
Bridge Bank, N.A. is Silicon Valley's full-service professional business bank. The Bank is dedicated to meeting the financial needs of small and middle market companies, and emerging technology businesses, in Silicon Valley, Northern California, and the Nation. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers. For additional information, visit the Bridge Bank website at www.bridgebank.com