Leominster-based Fidelity Bank has acquired Exchange Authority of Pepperell.
Financial terms of the acquisition were not disclosed. The Exchange Authority acts as an intermediary and consultant for tax deferred exchanges and related transactions. The company creates all required documents, coordinates exchanges and provides full reports upon the completion of the transactions. The company has been in business since 1983.
Exchange Authority’s 6-person staff will be moved to Fidelity offices within the next six months.
