NEW YORK — CapitalSource Inc., a commercial lender to small and medium-sized businesses with a market value of $2.4 billion, has hired a financial adviser to explore a potential sale, people familiar with the matter said.
Investment bank JPMorgan Chase & Co. is soliciting potential buyers--mainly large banks--to gauge their interest in buying CapitalSource, these people added. They cautioned that the company, which decided to put itself on the block a few weeks ago, may decide not to sell if there is not enough interest.
A CapitalSource spokesman did not immediately respond to requests for comment.
CapitalSource, which celebrated its 10th anniversary in July, offers loans of between $5 million to $100 million through its bank subsidiary. The Chevy Chase, Maryland-based company also provides asset-based loans to companies in the health-care, real estate and finance sectors.
Shares of CapitalSource closed Wednesday at $7.33 in New York Stock Exchange trading. The stock shot up 9% in the last hour of trading on market rumors it was up for sale.
