D.A. Davidson Acquires McGladrey Capital Markets
D.A. Davidson & Co., a national full-service investment firm based in the Northwest, announced it has acquired McGladrey Capital Markets LLC (MCM), an investment banking firm headquartered in Costa Mesa, CA. The acquisition will double the size of Davidson’s investment banking group and expand its sector expertise in aerospace & defense, basic materials and packaging, food and beverage, infrastructure, industrials, energy services, and healthcare. No financial information was disclosed.
“We’re extremely pleased to have McGladrey Capital Markets join the Davidson team as we continue to grow our national presence and broaden our industry focus,” said Brad Gevurtz, head of Investment Banking for D.A. Davidson. “The combined company will rank in the top ten of middle market investment banks in the country by number of transactions.”
MCM is a global provider of investment banking services dedicated to serving the needs of owners, shareholders and managers of privately owned mid-sized businesses and mid-cap public companies. MCM brings together companies, capital and creativity on a national and international scale to help clients achieve their strategic objectives. On a combined basis, the two companies’ middle market transactions will place Davidson in the top 10 of all domestic investment banks focused on transactions under $500 million.
“McGladrey Capital Markets is a highly respected middle market investment bank with accomplished investment bankers and established client relationships,” said Doug Woodcock, president of Equity Capital Markets for D.A. Davidson. “The sector expertise brought to us will complement and expand Davidson’s industry coverage while offering McGladrey Capital Markets the full service capabilities to raise equity capital for public and private clients.”
D.A. Davidson’s investment banking group provides a full range of advisory and execution services in the areas of mergers and acquisitions, public and private equity offerings, senior and subordinate debt financing, financial restructuring, and fairness opinions. Davidson’s Investment Banking Group is headquartered in Portland, Ore. with offices in Los Angeles, Salt Lake City, Seattle and Great Falls, Mont. Davidson’s Investment Banking group closed 30 transactions in 2011 and remains the No. 1 ranked middle market M&A advisor for the number of transactions completed in the Northwest and Rocky Mountain regions.
“We are excited to join D.A. Davidson and have the opportunity to leverage the support and capabilities of a full-service equity capital markets firm,” said Paul Weisbrich, senior managing director for McGladrey Capital Markets. “Davidson is a well-regarded investment firm, and we look forward to combining our expertise to offer a wide array of products and services to companies on a national and international basis.”
MCM will now operate as D.A. Davidson from its Costa Mesa and Chicago offices. Prior to the acquisition, the company was affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting.