Fifth Third Bancorp (Nasdaq: FITB) announced today that Fifth
Third Acquisition Holdings, LLC., has agreed to acquire Hammond
Hanlon Camp LLC (“H2C”), a premier strategic advisory and
investment banking firm focused on hospitals, health systems, and
related organizations.
“As Fifth Third continues to seek opportunities to build upon
the strength of its healthcare team, the addition of H2C further
deepens the value we provide to the industry,” said Kevin Lavender,
executive vice president and head of Commercial Banking. “The
healthcare industry is complex and dynamic. Given its concentrated
expertise and its client-focused culture, we believe H2C is a great
strategic fit for Fifth Third and its existing healthcare
team.”
Founded in 2011, H2C has an emphasis on healthcare organizations
with specialized expertise in the not-for-profit sector. Its core
advisory services include mergers, acquisitions and divestitures,
partnerships and strategic growth, capital markets and real estate
investment banking.
With offices in Atlanta, Chicago, New York and San Diego, H2C
leadership will report to Rob Schipper, head of Investment Banking.
The addition expands Fifth Third’s Investment Banking and M&A
group to more than 110 professionals, with experience advising a
range of industry sectors, including consumer, diversified
industrial, downstream petroleum, business and technology-enabled
services, renewable energy and healthcare.
The announcement underscores Fifth Third’s commitment to develop
a robust, best-in-class healthcare platform and builds upon Fifth
Third’s acquisition of Coker Capital in 2018. Over the last decade,
the Bank’s healthcare team has expanded its breadth and expertise
to become one of the top platforms to middle-market and corporate
clients. It serves one of the largest and fastest growing segments
of the U.S. economy.
“The specialized capabilities brought by H2C strategically
complement the healthcare team’s expertise,” added Lavender. “The
combination will create an unparalleled offering to help healthcare
organizations across the country achieve its goals.”
The H2C leadership team has more than 230 years of combined
healthcare transaction experience and includes veteran healthcare
investment bankers Michael Hammond, Bill Hanlon, PJ Camp, Thomas
Barry, Rich Bayman and Victoria Poindexter.
“We are very excited to join forces with Fifth Third, and
believe that together we will be ideally positioned with the
breadth of capabilities and depth of expertise necessary to address
the complex challenges facing our healthcare clients now and in the
future,” said Bill Hanlon, principal and co-founder of H2C. “As our
clients grow increasingly large and more sophisticated, combining
with Fifth Third ensures that we have the resources and
intellectual capital to meet our clients’ demand for
forward-looking counsel and high-quality investment banking
services.”
The transaction is subject to regulatory approval and is
expected to close in the fourth quarter of 2020. Alston & Bird
LLP acted as legal advisor to Fifth Third. Houlihan Lokey acted as
financial advisor and Winston & Strawn acted as legal advisor
to H2C.
About Fifth Third Fifth
Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio and the indirect parent company
of Fifth Third Bank, National Association, a federally chartered
institution. As of Sept. 30, 2020, Fifth Third had $202 billion in
assets and operated 1,122 full-service banking centers and 2,414
ATMs with Fifth Third branding in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia,
North Carolina and South Carolina. In total, Fifth Third provides
its customers with access to approximately 52,000 fee-free ATMs
across the United States. Fifth Third operates four main
businesses: Commercial Banking, Branch Banking, Consumer Lending
and Wealth & Asset Management. Fifth Third is among the largest
money managers in the Midwest and, as of Sept. 30, 2020, had $422
billion in assets under care, of which it managed $53 billion for
individuals, corporations and not-for-profit organizations through
its Trust and Registered Investment Advisory businesses. Investor
information and press releases can be viewed at www.53.com. Fifth
Third’s common stock is traded on the Nasdaq® Global Select Market
under the symbol “FITB.” Fifth Third Bank was established in 1858.
Deposit and Credit products are offered by Fifth Third Bank,
National Association. Member FDIC.
About Fifth Third Capital
Markets Fifth Third Capital Markets is the marketing
name under which Fifth Third Bank, National Association, and its
subsidiary, Fifth Third Securities, Inc., provide certain
securities and investment banking products and services. Fifth
Third Capital Markets offers investment banking++, debt capital
markets+, bond capital markets++, equity capital markets++,
financial risk management+, and fixed income sales and trading++.
Fifth Third Bank, National Association, provides access to
investments and investment services through various subsidiaries,
including Fifth Third Securities. Coker Capital is a division of
Fifth Third Securities. Fifth Third Securities is the trade name
used by Fifth Third Securities, Inc., member FINRA / SIPC, a
registered broker-dealer and registered investment advisor
registered with the U.S. Securities and Exchange Commission (SEC).
Registration does not imply a certain level of skill or
training.
Securities and investments offered through Fifth Third
Securities, Inc.:
Are Not FDIC Insured
Offer No Bank Guarantee
May Lose Value
Are Not Insured By Any Federal Government
Agency
Are Not A Deposit
+ Services and activities offered through Fifth Third Bank,
National Association.
About Hammond Hanlon Camp LLC
("H2C") Founded in 2011, H2C is an independent strategic
advisory and investment banking firm committed to providing
superior advice as a trusted advisor to healthcare organizations
and related companies throughout the United States. H2C’s
professionals have a long track record of success in healthcare
mergers and acquisitions, capital markets, and real estate
transactions, acting as lead advisors on hundreds of transactions
representing billions of dollars in value. H2C offers securities
through its wholly owned subsidiary H2C Securities Inc., member
FINRA/SIPC. For more information, visit h2c.com.
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