Piper Jaffray Companies Enters Definitive Agreement to Acquire Edgeview Partners
17 June 2013 - 11:25PM
Business Wire
Piper Jaffray Companies (NYSE: PJC), a leading investment bank
and asset management firm, today announced that it has entered
a definitive agreement to acquire Edgeview Partners, L.P., a
leading middle-market advisory firm specializing in mergers and
acquisitions. Piper Jaffray and Edgeview Partners have very
complementary investment banking businesses with a shared focus on
exceptional client service. The combination further strengthens
Piper Jaffray’s M&A leadership in the middle market and adds
significant resources dedicated to the private equity
community.
“We are pleased to welcome this highly experienced team of
M&A professionals to our firm. Edgeview’s client-centric
culture, middle-market advisory capabilities and financial sponsors
focus is well-aligned with our business,” Andrew Duff, chairman and
CEO of Piper Jaffray said, “Expanding our M&A practice
represents a key step forward in executing the firm’s growth
strategy.”
Founded in 2001 and based in Charlotte, N.C., Edgeview Partners
provides merger and acquisition advisory services to middle-market
clients and private equity firms across a broad range of industries
including business services, transportation and logistics,
industrials, healthcare, applied technology, building products and
consumer sectors.
Commenting on the transaction, Scott LaRue, global co-head of
Piper Jaffray investment banking and capital markets said,
“Edgeview has an outstanding track record and reputation for
providing best-in-class M&A advisory services. We look forward
to pairing our strong industry expertise, strategic relationships,
financial sponsor coverage teams and global reach to accelerate the
growth of our combined M&A business.”
“We are excited about what this combination achieves for our
firm, our employees, and our clients,” said Ted Garner, partner at
Edgeview Partners. “Piper Jaffray is a firm that shares our
client-driven culture and execution-focused model. In addition,
their commitment to the middle market and the private equity
community fits perfectly with Edgeview. Our clients will benefit
from expanded product capabilities, deeper sector expertise and
broadened international reach while our employees will realize
outstanding career opportunities.”
The transaction is subject to regulatory approval and customary
closing conditions and expected to close in the third quarter of
2013. Terms of the transaction are undisclosed.
About Piper JaffrayPiper Jaffray is a leading investment
bank and asset management firm serving clients in the U.S. and
internationally. Our proven advisory teams combine deep industry,
product and sector expertise with ready access to capital. Founded
in 1895, the firm is headquartered in Minneapolis and has offices
across the United States and in London, Zurich and Hong Kong*.
www.piperjaffray.com
* License pending
Cautionary Note Regarding Forward-Looking InformationThis
announcement contains forward-looking statements. Statements that
are not historical or current facts, including statements about
beliefs and expectations, are forward-looking statements. These
forward-looking statements cover, among other things, the future
prospects of the Company and the growth of our M&A advisory
services business. Forward-looking statements involve inherent
risks and uncertainties, and important factors could cause actual
results to differ materially from those anticipated, including the
following: (1) the transaction announced in this release may not be
completed, or completed within the expected timeframe; (2) the
costs or difficulties relating to the combination of the businesses
may be greater than expected and may adversely affect our results
of operations and financial condition; (3) the expected benefits of
the transaction, including increased scale and improved operating
performance for our M&A advisory services business, may take
longer than anticipated to achieve and may not be achieved in their
entirety or at all, and will in part depend on the ability of the
Company to retain and hire key personnel and maintain relationships
with clients pending the consummation of the transaction; (4)
developments in market and economic conditions have in the past
adversely affected, and may in the future adversely affect, the
business and profitability of the Company; and (5) other factors
identified under “Risk Factors” in Part I, Item 1A of our Annual
Report on Form 10-K for the year ended December 31, 2012, and
updated in our subsequent reports filed with the SEC. These reports
are available at www.piperjaffray.com or www.sec.gov.
Forward-looking statements speak only as of the date they are made,
and we undertake no obligation to update them in light of new
information or future events.
© 2013 Piper Jaffray Companies, 800 Nicollet Mall, Suite 800,
Minneapolis, Minnesota 55402-7020
Piper Jaffray CompaniesPamela Steensland, 612
303-8184pamela.k.steensland@pjc.com
Piper Jaffray Companies (NYSE:PJC)
Historical Stock Chart
From Jul 2024 to Aug 2024
Piper Jaffray Companies (NYSE:PJC)
Historical Stock Chart
From Aug 2023 to Aug 2024