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.
