Red Bank holding company goes private in merger

Red Bank’s ZAIS Group Holdings Inc. has signed a merger agreement with Z Acquisition LLC, a Delaware-based entity.

ZAIS’ founder, Christian Zugel, will act as the sole managing member of Z Acquisition.

“On behalf of Z Acquisition, we are pleased to have reached this agreement, which we believe is in the best interests of unaffiliated stockholders of the company,” he said.

The credit management firm, which will become a subsidiary of Z Acquisition, is expected to remain headquartered in New Jersey under the current management team.

As a result of the merger, ZAIS will become a privately held company.