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Canaccord Genuity Group Acquires M&A Advisory Petsky Prunier

February 14, 2019, 07:00 AM

Canaccord Genuity Group Inc. announced that in an asset-based transaction, it has acquired Petsky Prunier, a preeminent boutique M&A advisory firm based in New York. This acquisition underscores Canaccord Genuity's commitment to adding scale to its fixed cost base in the U.S. and diversifying its revenue streams, while enhancing its client offering to capture greater market share in its core areas of strength.

Founded in 1999, Petsky Prunier has built a leading U.S.-based investment banking practice with a disciplined focus on the mid-market Technology, Media, Marketing, Information & Services and Healthcare industries. In 2018 Petsky Prunier executed more than 30 strategic advisory transactions for mid-market companies and the firm has achieved number one ranking by Bloomberg for the number of Mid-Market Internet & Advertising1 transactions in the United States for seven consecutive years. This acquisition is expected to be accretive to Canaccord Genuity's adjusted2 earnings during the first year of operation. 

"Our U.S. capital markets business has become an increasingly stronger regional competitor and this acquisition advances our priority of investing in areas of higher margin potential, as we continue to position our Company for increased stability and long-term profitability," said Dan Daviau, President & CEO, Canaccord Genuity Group Inc. "The addition of Petsky Prunier creates an exceptional opportunity for our North American capital markets business, while simultaneously enhancing long-term value for our partners and shareholders."

"We are delighted to welcome Petsky Prunier's extraordinary team of professionals to our U.S. Capital Markets business and we look forward to meaningfully increasing our impact in the North American mid-market," said Jeff Barlow, President, Canaccord Genuity LLC. "This strategic combination creates a powerful offering for our clients, who will benefit from our significantly enhanced advisory capability and reach in addition to the globally integrated sales, trading, and equity research capabilities that our platform provides."

To ensure a seamless transition for Petsky Prunier clients and employees, Sanjay Chadda, Partner and Managing Director of Petsky Prunier will join the management operating committee of Canaccord Genuity LLC and co-lead the U.S. investment banking group and the U.S. technology, media, marketing and information services practice. In this capacity, he will continue to focus on existing and new client mandates.  All existing employees of Petsky Prunier will continue with the combined firms.

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