Acquisition adds experienced M&A team, expands footprint and deepens focus on key industries
CHICAGO, ILLINOIS and MINNEAPOLIS, MINNESOTA and TORONTO, ONTARIO--(Marketwired - June 2, 2016) - BMO Financial Group (TSX:BMO)(NYSE:BMO) announced today that it has entered into a definitive agreement to acquire the business of Greene Holcomb Fisher ("GHF"), a premier boutique M&A advisory firm based in Minneapolis, with additional offices in Seattle and Atlanta. The transaction requires regulatory approval and is expected to close in BMO's fiscal fourth quarter, which ends on October 31. The terms of the deal are not being disclosed.
Over its more than 20-year history, GHF has built a reputation for providing hands-on merger and acquisition advice to family and entrepreneur owned companies, private equity groups and public companies in the United States. With more than 30 investment banking professionals, GHF has completed in excess of 100 transactions over the last 5 years.
The transaction will complement BMO Capital Markets' existing M&A practice by significantly increasing its number of global M&A professionals and doubling the number of M&A transactions in the United States. In 2015, the two firms advised on a total of 90 completed M&A transactions with a value of $77B. GHF's industry focus areas are similar to BMO's in the U.S., including Industrials, Food, Consumer & Retail, Healthcare, Technology, Business Services, and Energy.
"We are pleased to welcome Greene Holcomb Fisher to BMO Financial Group," said Perry Hoffmeister, Global Head of Investment & Corporate Banking, BMO Capital Markets. "GHF is highly complementary to our U.S. strategy and our focus on the mid-cap space. The transaction underscores our commitment to effectively serve our U.S. clients by deepening our Midwest footprint, growing our U.S. M&A business and strengthening our client focus on the industry sectors that we cover," he said.
"GHF's strong capabilities in serving the financial sponsor community, as well as privately held and family-owned companies, will allow us to broaden coverage of our U.S. capital markets and commercial bank clients," said Lyle Wilpon, Head, U.S. M&A, BMO Capital Markets. "In making this acquisition we are adding expertise, depth and experience to enhance our capabilities and better serve our clients in these business segments."
"We are excited to join BMO Capital Markets," said Hunt Greene, Managing Director, GHF. "As a leading North American financial services provider with strong brand recognition, broad capital markets expertise and lending capabilities, BMO Financial Group will provide our team with the tools to accelerate the growth of our advisory business."
"This transaction will provide our employees with significant career opportunities and benefit our clients with deeper vertical industry expertise and broadened product capabilities," added Brian Holcomb, Managing Director, GHF.
Upon closing, GHF will be rebranded as BMO Capital Markets. The GHF team will report to Mr. Wilpon.
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American financial services provider. With more than 2,200 employees operating in 28 locations, including 15 in North America, BMO Capital Markets offers corporate, institutional and government clients access to a complete range of investment and corporate banking products and services.
About BMO Financial Group
Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $681 billion as of April 30, 2016, and over 45,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.
About Greene Holcomb Fisher
Greene Holcomb Fisher, with offices in Minneapolis, Seattle and Atlanta, is an investment banking firm that specializes in mergers and acquisitions, private placements and financial advisory services for the middle market. At Greene Holcomb Fisher, experience from nationally prominent investment banks and leading law firms is blended with senior-level attention and entrepreneurial ingenuity to deliver creative services to high quality companies. Greene Holcomb Fisher investment bankers specialize in the Consumer, Food & Agribusiness, Healthcare, Industrial Products & Services, Business & Education Services, Technology and Energy & Infrastructure sectors. For more information, please visit www.ghf.net.
Pav Jordan, Toronto
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