Five Point Capital Inc., a San Diego equipment leasing and private small-business lender, said April 12 that founder and half-owner David Gilbert has purchased the other half of the business from co-founder Dan Feder for an undisclosed price.
Gilbert and Feder founded the company in 1999 and served as co-chief executives until they hired Greg Wells in 2009 as president and CEO. Gilbert is assuming the role of CEO.
Five Point Capital said Wells has taken a new position as CEO of Sage Executive Group, a startup that forms and operates CEO peer advisory groups. Wells is a former executive with Vistage International, an organization that has a business model similar to Sage’s.
Feder said the time was right to sell his 50 percent interest in Five Point, a company that has helped finance many small businesses.