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Huntington Bancshares to Acquire Capstone Partners

March 02, 2022, 08:00 AM
Filed Under: Banking News

Huntington Bancshares entered into a definitive agreement to acquire Capstone Partners, one of the largest and most successful investment banking and advisory firms dedicated to serving middle market companies throughout their full business lifecycle.

Capstone has four primary areas of expertise: Mergers & Acquisitions, Capital Advisory, Financial Advisory and Special Situations & Restructuring. Capstone consistently ranks among the top U.S. advisors for middle market M&A.

"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."

Capstone maintains primary offices in Boston and Denver, along with a presence in 12 U.S. cities – including Chicago, Dallas, Detroit, Los Angeles, New York and Philadelphia – and reflects Huntington's growing national reach.

"Twenty years ago, we founded Capstone Partners 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. "Huntington is the perfect partner for Capstone, with complementary cultures focused on people and the community. 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."

The transaction is expected to close in the second quarter of 2022, subject to receipt of required regulatory approval and satisfaction of customary closing conditions. Terms were not disclosed.

Keefe, Bruyette & Woods, A Stifel Company, served as financial advisor to Capstone Partners.

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