CPC's relationship with Wells Fargo dates back to 2005, when the former became a client of Wells Fargo's lender finance unit. In 2007, the two firms signed a strategic alliance, which included a minority equity investment by the bank. Terms of the new deal were not disclosed.

"We were the company’s first source of institutional senior debt, and as the company grew, we became convinced that the products and services that CPC provides to its customers were exceptional, and decided to invest in the business," said Andrea Petro, the executive vice president of Wells Fargo Capital Finance and manager of the lender finance division.

Upon completion of the transaction, which is expected by the end of summer 2011, John Schmidt, the managing director and co-founder of CPC, as well as co-founder Michael Gallagher, and the rest of the CPC management team will continue to lead the business. All will report to Petro as part of Wells Fargo Capital Finance.