Signs of a Sale: Why GreatAmerica Might Be the Next Wells Fargo Acquisition

"Liquidity in Blue"

With regulatory shackles lifted and signs of internal restructuring underway, GreatAmerica looks primed for acquisition. Ray says Wells Fargo is circling, and the evidence supports him.

By Celeste Dame 🚀🧠

Ray Stasieczko didn’t start with speculation. He opened with a simple thesis: something’s going on with GreatAmerica, and it isn’t just routine repositioning whisper through regulatory filings, leadership exits, and carefully trimmed portfolios. For those watching closely, the whispers around GreatAmerica Financial Services have become deafening. A recent video commentary by industry voice Ray Stasieczko, host of The End of the Day with Ray, makes a bold claim: Wells Fargo is poised to acquire GreatAmerica.

At first glance, this might sound like barroom speculation or vendor gossip. But when you connect the dots-economic conditions, regulatory green lights, executive turnover, and strategic cleanup-the picture that emerges isn’t rumor.

Let’s walk through the key signals, the logic behind the move, and why Wells Fargo may soon hang its banner over one of the most respected independent finance firms in the country.

The Catalyst: Regulatory Handcuffs Come Off

In 2018, Wells Fargo was slapped with a rare and public sanction by the Federal Reserve: a consent order that capped its growth due to repeated scandals and compliance failures. That restriction essentially froze its total asset expansion and barred major acquisitions.

In 2024, the Fed finally lifted that order.

With billions in dry powder and a mandate to grow once again, Wells Fargo has a history of acquisition-driven expansion. In Ray’s words, “Wells Fargo likes to buy things.” That’s not sarcasm. It’s how they operate. Wells Fargo isn’t just a bank, it’s built to acquire and scale.

What kind of asset fits perfectly into a post-consent-order strategy?

• Highly regarded in the B2B space

• Strong recurring revenue via leases

• Disciplined underwriting

• No toxic assets

• A brand customers and dealers trust

Enter: GreatAmerica.

The Collabrance Clue: Quiet Moves, Loud Messages

One of Ray’s most telling observations was the sale of Collabrance, GreatAmerica’s IT services arm. For years, leadership insisted it would remain part of the core business. Then suddenly, it was gone.

In the M&A world, this is classic positioning: divesting non-core assets that don’t align with a buyer’s core appetite. It makes the balance sheet leaner, the operating story cleaner, and the valuation model simpler.

Importantly, it shows that public messaging (“We’re not selling”) doesn’t always reflect internal plans. It didn’t with Collabrance, and there’s little reason to think it’s different now.

The Lawsuit Nobody Talks About

One of the strangest gaps in coverage especially for a local business press so eager to award GreatAmerica “Best Leasing Company” trophies is the complete silence around a major wrongful termination lawsuit filed by former president David Pohlman.

Three senior leaders named in the suit are now gone:

• David Pohlman (plaintiff)

• Matt Mueller

• Scott, the former CFO

The optics aren’t good. The implications are worse.

When companies are prepping for sale, lawsuits like these can be radioactive. Settling, silencing, or outlasting these liabilities is part of “cleaning the room before showing the house.”

And yet, despite the noise, the Corridor Business Journal said nothing. Ray suggests that the absence of coverage may itself be a signal and possibly a conscious choice to avoid disruption as an acquisition narrative plays out behind the scenes.

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The Securitization Signal

In March 2025, GreatAmerica closed a $692.5 million securitization. For those outside the finance world, this means they bundled leases and sold them as investment instruments—much like mortgage-backed securities.

Why does this matter?

1. It flushes the books with cash.

2. It signals stability to potential buyers.

3. It’s a common pre-sale move in finance deals.

They clean up the balance sheet, reinforce financial strength, and show that liquidity is in place. Everything looks tighter and easier to evaluate. You remind the market (and buyers like Wells) that your machine is humming.

Wells Fargo understands the securitization business intimately. GreatAmerica is essentially handing them a portfolio-ready leasing engine with a proven capital model.

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Industrial Bank Fantasy?

Ray revisits an old ambition: GreatAmerica’s pursuit of an industrial bank charter. They tried once in Utah, then pulled the application. Rumors suggest they might try again.

But in today’s volatile bond market, that move looks increasingly untenable.

Securitization performance is tied to interest rate conditions. With the bond market flashing red and macro indicators uncertain, now is not the time to gamble on charter expansions.

Which raises the more logical alternative: exit strategy.

The founder is aging. The son is stepping in. The company has peaked in brand perception. Private owners with limited succession options often look to cash out. That’s success.

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Strategic Fit for Wells Fargo

The deal would be modest by Wells Fargo standards, but strategically rich:

• Wells gets turnkey access to SMB and dealer channels, which it lacks in nuanced form.

• GreatAmerica’s brand helps rehabilitate Wells’ reputation in the midmarket.

• The lease portfolio offers high-performing, low-risk recurring revenue.

• The customer relationships are sticky and service-driven.

• The company’s Iowa-based footprint gives Wells geographic diversification away from its coastal strongholds.

There’s also cultural upside. Wells Fargo is rebuilding trust. GreatAmerica built its house on it. That halo transfers—if the deal is positioned right.

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Estimated Deal Value

Without public financials, exact numbers are speculative. But based on the size of their lease book, securitization scale, and EBITDA multiples for similar specialty finance firms, here’s a grounded estimate:

• Likely Annual Net Income: $50–100M

• Book Value Estimate: $600–800M

• Valuation Multiple: 1.5–2.5x book, or 8–12x EBITDA

Expected Acquisition Range: $1.2–1.4 billion

This would be a “bolt-on” for Wells Fargo, not a transformative play.

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The Human Element: What's Next for the Team?

This kind of sale typically leads to one of two outcomes:

1. Wells integrates and absorbs: brand disappears, ops migrate to corporate.

2. Wells keeps the name alive: uses GreatAmerica as a standalone brand to preserve goodwill and retain talent.

If we use history as a guide, a hybrid model is likely. Sales and service teams stay, leadership turns over, and the Wells playbook is slowly layered in.

This is often where things fracture but also where new opportunity emerges. For those inside GreatAmerica, the next 6–12 months could define whether their future is corporate, entrepreneurial, or transitional.

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Conclusion: If You’re in the Channel, Pay Attention

If you're a dealer, OEM, or partner with GreatAmerica, now is the time to tune in.

The signals are there:

• Regulatory freedom at Wells

• Asset sales and leadership exits at GreatAmerica

• Financial restructuring via securitization

• Silence around litigation

• Rumblings of unrealistic bank charter ambitions

• A cultural and operational fit that makes strategic sense

Ray may be raising questions, but the patterns he points to deserve attention.

The full episode of The End of the Day with Ray covers these insights in detail and should be on your radar if you're in the business of leasing, finance, or channel strategy.

For Wells Fargo, this would be a low-risk, high-upside move. For GreatAmerica, it might be the most elegant exit they’ll get.

the quietest deals are often the most meaningful.

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Source: Ray Stasieczko, “The End of the Day with Ray,” June 2025 episode discussing a potential Wells Fargo acquisition of GreatAmerica.

"Liquidity in Blue" - 

Inspired by the calm surface and volatile depths of M&A activity, the fluid lines and layered textures evoke securitization flows, regulatory thaw, and the quiet power of strategic repositioning. Much like the article it complements, the artwork suggests that beneath composure lies momentum.