Clack To Open Office For Olympic Capital

Long-time Spokane banker and businessman Dave Clack will open a regional office next month for Olympic Capital Partners, a Seattle-based investment banking firm.

He said his territory will cover all of Eastern Washington, North Idaho, and Montana.

Olympic has worked with a couple of Spokane clients in the past, Clack said, but has none now.

“That’s why they wanted me to come on board,” he said, adding, “It’s very consistent with what I’ve been doing.”

Olympic specializes in providing investment banking services to companies with annual sales between $5 million and $100 million, Clack said.

The bulk of Spokane’s businesses fall into that category, he said, but there was a shortage of services catering to their banking needs.

Olympic Capital assists with mergers, acquisitions and new financing.

Clack, former chairman of Old National Bancorporation, said there’s only so much a bank can do for a company through a traditional lending relationship.

Formation of Spokane Capital Management Corp. in 1988 helped fill the need for venture capital, he said, but other gaps remained.

Clack is Spokane Capital’s board chairman. He said that post will not disturb his position with Olympic Capital.

Nor will he be closing his own firm, Clack & Co., through which he manages his investments and real estate.

He said he will operate Olympic Capital from the same office at 325 E. Sprague, but use separate phone lines to avoid confusion.

Clack also serves on the boards of Washington Water Power Co., Idaho Forest Industries and Lifespan BioSciences Inc.

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