Minneapolis-based investment bank Greene Holcomb Fisher (GHF) has entered into an agreement to be acquired by publicly-traded BMO Financial Group. BMO’s offer was unsolicited and GHF struck the deal based on an attractive cash offer. The transaction is expected to close in BMO’s fiscal fourth quarter which ends in October.
Greene Holcomb Fisher is active in middle market mergers and acquisitions, private placements and financial advisory services. Areas of specialization include consumer; food and agribusiness; healthcare; industrial products and services; business and education services; technology; and energy and infrastructure. GHF has 21 senior investment banking professionals – 14 of which are managing directors – and has completed more than 100 transactions over the past 5 years. The firm was founded in 1995 by managing directors Hunt Greene and Brian Holcomb and has offices in Minneapolis (headquarters), Phoenix, Seattle and Atlanta (www.ghf.net).
At closing of the transaction, GHF will be rebranded as BMO Capital Markets and the existing team will report to Lyle Wilpon, who leads BMO’s capital markets efforts in the US. “GHF’s strong capabilities in serving the financial sponsor community, as well as privately held and family-owned companies, will allow us to broaden coverage of our US capital markets and commercial bank clients,” said Mr. Wilpon.
BMO Capital Markets is the investment banking subsidiary of the Bank of Montreal. The group provides corporate, institutional and government customers with a range of investment and corporate banking products and services including include equity and debt underwriting; corporate lending and project financing; merger and acquisitions advisory services; securitization; treasury and market risk management; debt and equity research; and institutional sales and trading. The group has more than 2,200 employees operating in 28 locations, including 15 in North America (www.bmocm.com).
The investment banking activities of Bank of Montreal began in 1987 when it acquired Montreal-based Nesbitt Thomson. Additional investment bank acquisitions included Burns Fry (1994) and Gerard Klauer Mattison (2003). Bank of Montreal rebranded the group’s activities in 2006 as BMO Capital Markets when it merged its Canadian, US and international wholesale banking capabilities.
“We are excited to join BMO Capital Markets,” said Mr. Greene. “As a leading North American financial services provider with strong brand recognition, broad capital markets expertise and lending capabilities, BMO Financial Group will provide our team with the tools to accelerate the growth of our advisory business.”
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 6-3-16