Cowen (NASDAQ:COWN), an American investment bank and financial services company, announced that it has entered into an agreement to acquire the privately held company Portico Capital Advisors. Portico is a leading investment bank that focuses exclusively on business services and software industry companies. The purpose of the acquisition is two-fold: the acquisition positions Portico to fully utilize Cowen’s capital markets, advisory, and research capabilities to clients. For Cowen, the acquisition helps to further increase its investment banking business. Cowen has been able to grow its M&A services from about 20% to 55% of its total banking revenues over the past four years.
Rick Northrop, Portico’s Founder and Executive Chairman, added, “For two decades, the Portico team has focused on leveraging our deep sector expertise and relationships to deliver value for our clients through focus, experience, and guidance at every step of a transaction. We are delighted to enhance our ability to deliver high quality value to clients on the Cowen platform.”
Terms of the deal were not disclosed. Quazar was not involved in this transaction.
Read more here: https://www.globenewswire.com/news-release/2021/11/23/2339884/0/en/Cowen-to-Acquire-Portico-Capital-Advisors-Accelerating-M-A-Advisory-Momentum-in-Strategic-Long-Term-Growth-Sectors.html
