Huntington Bancshares entered into a definitive agreement to acquire Capstone Partners, an investment banking and advisory firm. The transaction is expected to close in Q2/22, subject to receipt of required regulatory approvals and satisfaction of customary closing conditions. Terms were not disclosed.
Capstone Partners has four primary areas of expertise: mergers and acquisitions, capital advisory, financial advisory and special situations and restructuring.
“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,” Scott Kleinman, co-president of Huntington Commercial Banking, said. “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.
“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,” John Ferrara, founder and CEO of Capstone Partners, said. “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.”
Keefe, Bruyette & Woods served as financial advisor to Capstone Partners on the transaction.