Publicly traded Huntington Bancshares has agreed to acquire middle-market investment bank Capstone Partners.
Capstone’s investment banking services include mergers and acquisitions, capital advisory, financial advisory, special situations and restructuring. Capstone has more than 175 employees and is headquartered in Boston with additional offices in twelve cities including Denver, Chicago, Dallas, Detroit, Los Angeles, New York and Philadelphia.
“Twenty years ago, we founded Capstone with the goal of building a middle-market leader. Since then, we have been an innovative, growth-oriented firm, and we are excited about our future with Huntington,” said John Ferrara, Capstone’s founder and CEO. “Our combined capabilities will enhance Capstone’s full suite of products and services to private business owners and financial sponsors. We believe this combination puts us in a strong position to pursue continued market acceleration and deliver a superior experience for our clients, employees, and partners.”
Huntington Bancshares (NASDAQ: HBAN), with $174 billion in assets, provides banking services to consumers, small and middle-market businesses, corporations, and municipalities. The Columbus, Ohio-headquartered bank was founded in 1866 and has more than 1,000 branches in 12 states.
“The addition of investment banking and financial advisory services aligns with our capital markets strategic plan and better positions Huntington to serve the full range of needs of middle-market clients within our footprint, as well as those we serve on an increasingly national basis,” said Scott Kleinman, co-president of Huntington Commercial Banking. “The combination of Huntington’s brand and capabilities alongside a premier middle-market investment banking franchise with unique industry insights creates a differentiating experience for our clients.”
Huntington’s acquisition of Capstone is expected to close in the second quarter of 2022.
Keefe, Bruyette & Woods, a subsidiary of Stifel Financial, is the financial advisor to Capstone on this transaction.
© 2022 Private Equity Professional | March 8, 2022
