On Friday 29th January 2016, ISM Capital LLP (“ISM”) entered into an agreement to be purchased by a wholly-owned subsidiary of Stifel Nicolaus Financial Corporation (“Stifel”)(NYSE: SF). It is anticipated the transaction will close in Q2 2016, subject to regulatory clearance.
ISM is a vertically integrated investment bank that provides origination, distribution, research, investment and market-making services.
Stifel is a leading wealth management and middle-market financial services provider with more than 6000 employees across 350+ global offices. Through its 3 broker-dealer subsidiaries (Stifel, Nicolaus & Company, Stifel Nicolaus Europe Limited, and Keefe, Bruyette & Woods), Stifel provides securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel has a market capitalisation of over $2.2bn as of the signing date.
Commenting on the transaction, Christopher Thurn, Head of Capital Markets at ISM, said:
“We anticipate that the Stifel platform will offer many advantages to our clients by enhancing our core product offering and expanding our reach.”
ISM Capital will continue to operate as normal until the completion of the transaction, and will thereafter operate under the Stifel Nicolaus name from their offices in London.
Smith Square Partners acted as financial advisers to ISM.