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Fifth Third Bolsters Healthcare M&A, Investment Banking with Acquisition of Coker Capital

February 06, 2018, 07:45 AM
Filed Under: Mergers & Acquisitions

Fifth Third Bancorp announced that Fifth Third Securities Inc. has agreed to acquire Coker Capital Advisors, a premier M&A advisory services firm focused on middle-market healthcare companies.

“The addition of Coker Capital Advisors to our team builds upon the strength of our Healthcare vertical, the largest at Fifth Third,” said Lars Anderson, executive vice president and chief operating officer for Fifth Third. “Additionally, it complements the capabilities of our M&A team led by Bill Tyson, co-head of Capital Markets. With a shared client-first culture, deep industry expertise and a strong focus on the middle market, Coker Capital is a great strategic fit for our team.”

Joining Fifth Third offices in Atlanta, Charlotte and New York, Coker Capital’s leadership will report to Rob Schipper, head of Investment Banking. The addition expands the Investment Banking and M&A group to more than 40 professionals, with experience advising a range of industry sectors, including Consumer & Retail, Diversified Industrial, Downstream Petroleum, Business & Technology-enabled Services and Healthcare.

Over the last decade, the Fifth Third Healthcare vertical has expanded its presence and expertise to become one of the top healthcare banking platforms to middle-market and corporate clients. It serves one of the largest and fastest growing segments of the U.S. economy. Healthcare spending is projected to reach $5.5 trillion by 2025, and it’s a sector marked by significant change and transformation.

“Coker Capital Advisors’ concentrated expertise in the complex healthcare industry will add significant value to our team through their experience and results,” said Anderson.

The Coker leadership team has more than 100 years of combined healthcare transaction experience and has executed transactions with an aggregate value in excess of $65 billion. The company was founded in 2009 and is led by Managing Directors Dan Davidson, James Heidbreder, Bo Hinton, John Reiboldt and McNeill Wester.

“Joining the Fifth Third Securities team will enable us to extend our reach and introduce enhanced capabilities to our clients,” said Coker Capital’s partners in a joint statement. “Our exclusive healthcare focus, combined with the strength of the Fifth Third team, will bring added value to the market to help our clients achieve their objectives.”

The transaction is subject to regulatory approval and is expected to close in the first quarter of 2018.

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