Cowen to Acquire Investment Banking Business of MHT Partners, Further Deepening Coverage of Middle-Market and Private Equity ...
September 15 2020 - 7:30AM
Cowen Inc. (NASDAQ: COWN) (“Cowen” or the “Company”) today
announced that it has signed a definitive agreement to acquire
substantially all of the assets of MHT Partners, LP (“MHT
Partners”), an investment bank focused on representing innovative
companies in growing markets. Based primarily in Dallas and San
Francisco, MHT Partners’ investment banking team is expected to
join Cowen under the agreement. Terms of the acquisition, which is
not material to Cowen from a financial perspective, were not
disclosed.
“Cowen’s momentum in investment banking reflects our commitment
to serving the dynamic companies that fuel the global economy.
Accelerating that strategy, we welcome MHT Partners’ impressive
banking team to the Cowen platform,” said Larry Wieseneck,
Co-President of Cowen and Company. “The MHT team provides deep
industry knowledge and relationships, especially across the
Services and Consumer sectors. Their expertise as advisor to
innovative, niche market leaders, as well as to private equity
firms and family offices, complements and extends Cowen’s already
significant offering to these key clients.”
Parker Weil, Cowen’s Vice Chair of Investment Banking and Head
of Strategic Capital, noted, “The client-focus, collegial approach,
honesty and integrity for which the MHT team has built a strong
reputation, seamlessly align with Cowen’s culture and values. Many
of us at Cowen already know the MHT team well and we are excited to
join forces with our new colleagues, as we work together to provide
unique and thoughtful ideas to our financial sponsor and family
office clients.”
MHT Partners is a premier middle-market investment bank, serving
leading companies in Consumer Growth, Business & Information
Services, Education and Healthcare Services, among other key
sectors. The firm’s clients span a diverse variety of businesses
and investors, including companies owned by families and serial
entrepreneurs, divisions of large corporations and private equity-
and venture-backed enterprises.
Mike McGill, Managing Director and one of MHT’s four co-founders
along with Shawn Terry, Pat Crocker and Craig Lawson, added, “We’re
thrilled to join Cowen’s full-service platform and leverage its
global reach, world-class research and comprehensive product set to
continue growing our advisory work and deliver significantly more
value and resources for our clients and team members. We are
especially proud of the client relationships, trust and expertise
that the MHT team has built over nearly 20 years. With its
entrepreneurial spirit, Cowen will be a great new home to build on
this success and deliver exceptional value to our clients and
opportunity to our team.”
The transaction is subject to receipt of FINRA approval and
customary closing conditions and is expected to close during the
fourth quarter of 2020. The MHT Partners team, including its four
lead partners, will report into Cowen’s Strategic Capital Group,
led by Mr. Weil.
About Cowen Inc.Cowen Inc. (“Cowen”
or the “Company”) is a diversified financial services firm offering
investment banking services, equity and credit research, sales and
trading, prime brokerage, global clearing, commission management
services and actively managed alternative investment products.
Cowen focuses on delivering value-added capabilities to our clients
in order to help them outperform. Founded in 1918, the Company is
headquartered in New York and has offices worldwide.
Learn more at Cowen.com.
© 2020 Cowen and Company, LLC. All rights reserved. Member NYSE,
FINRA and SIPC.
Media Contacts: Gagnier Communications Dan
Gagnier / Jeffrey Mathews646-569-5879cowen@gagnierfc.com
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