Piper Jaffray To Buy Middle-Market Advisory Firm

Piper Jaffray said that the acquisition, which is expected to close by the end of September, will complement its existing investment banking services as well as add resources to serve private equity clients.

Piper Jaffray To Buy Middle-Market Advisory Firm
Piper Jaffray Companies announced Monday that it has entered into an agreement to acquire Edgeview Partners, L.P., a Charlotte, North Carolina-based middle-market advisory firm, for an undisclosed sum.
Minneapolis-based Piper Jaffrey said that the acquisition, which is expected to close by the end of September, will enhance its acquisition resources. Edgeview Partners specializes in advising middle-market clients, particularly in mergers and acquisitions. The firm advises companies and private equity firms in a variety of industries, including business services, transportation and logistics, health care, technology, and industrial and building products.
Piper Jaffray said that Edgeview Partners’ services will enhance its growth in serving middle-market clients—particularly companies valued between $25 million and $500 million.
“Edgeview has an outstanding track record and reputation for providing best-in-class M&A advisory services,” Scott LaRue, global co-head of Piper Jaffray investment banking and capital markets, said in a statement. “We look forward to pairing our strong industry expertise, strategic relationships, financial sponsor coverage teams, and global reach to accelerate the growth of our combined M&A business.”
Piper Jaffray, an investment bank and asset management firm, reported $489 million in 2012 revenue, making it one of the 50 largest public companies in Minnesota based on revenue. It currently employs 911 people.
Edgeview Partners, founded in 2001, is a privately held firm that employs approximately 40. A Piper Jaffray spokeswoman told Twin Cities Business that Piper Jaffray expects to retain most of Edgeview Partners’ employees. After the acquisition closes, Edgeview Partners will operate under the Piper Jaffray name.
The acquisition is subject to approval by Edgeview Partners’ shareholders, as well as regulatory approvals and customary closing conditions.
Piper Jaffray operates out of 39 U.S. offices and two international locations in London and Zurich, Switzerland.
Edgeview Partners’ Charlotte, North Carolina office will remain open following the acquisition.
Piper Jaffray’s agreement to purchase Edgeview Partners follows another recent acquisition. In April, the firm announced plans to purchase Seattle-Northwest Securities Corporation, a Seattle-based public finance firm, for approximately $21 million.
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