Yahoo Finance Stifel Financial (SF) Signs Deal to Acquire ACXIT Capital
Stifel Financial Corp. SF agrees to acquire leading independent corporate finance and financial advisory firm, ACXIT Capital Partners. ACXIT Capital serves European middle-market clients and entrepreneurs. The terms of the deal were not disclosed.
With a team of 50 people, ACXIT Capital operates primarily out of offices in Frankfurt, Zurich, and Munich. The company completed almost 500 transactions. It focuses on providing advisory and capital solutions to emerging companies and is aligned with high-growth sectors of the global economy, including healthcare and technology.
Rob Mann, the head of European Investment Banking at Stifel, stated, “Through this acquisition, we are extending our European footprint further into strategically important European markets, most notably Germany. This highly complementary combination with ACXIT Capital Partners allows us to accelerate the growth of our investment banking business by adding more geographical breadth and regional market expertise to our platform. It also forms a natural next step following the combination with Mainfirst in 2019.”
The founder and senior managing partner of ACXIT Capital, Johannes H. Lucas, said, “Partnering with Stifel instantly gives us greater access to international markets, the ability to call on a deeper pool of industry expertise, and also enables us to deliver a broader set of products and solutions to our clients. Together, we have the necessary building blocks to create an even more formidable investment banking business throughout continental Europe.”
Thomas Klack, another senior managing partner of ACXIT Capital, commented, “The Stifel network will substantially add critical resources to our business, giving us a powerful international platform to leverage. In particular, it will improve our reach into the vast U.S. investor base for growth capital, and provide enhanced capabilities to clients with cross-border aspirations.”
Over the past year, shares of Stifel Financial have gained 0.2% against a decline of 16.9% recorded by the industry.
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Franklin Resources, Inc. BEN, which operates as Franklin Templeton, entered an agreement with The Bank of New York Mellon Corporation BK to acquire BNY Alcentra Group Holdings, Inc. from the latter. The closing of the deal, subject to customary conditions, including certain regulatory approvals, is expected early in the first quarter of 2023.
Through the acquisition, Franklin Templeton’s U.S. alternative credit specialist investment manager, Benefit Street Partners, will be able to expand its alternative credit capabilities and presence in Europe, doubling its AUM to $77 billion globally.
Upon the deal closure, BNY Mellon Investment Management is expected to continue to offer Alcentra’s capabilities in BNY Mellon’s sub-advised funds and select regions via its global distribution platform, and will provide Alcentra with ongoing asset servicing support.
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