DA Davidson bolsters its diversified industrial investment banking group with the hiring of a senior banker, Sokol Cano, to lead its paper and packaging practice


NEW YORK–(BUSINESS WIRE)–DA Davidson & Co. today announced the arrival of Sokol Cano as Managing Director to lead its Paper and Packaging practice. Sokol represents the company’s latest hire in its investment banking group and demonstrates its continued investment in expanding its diversified industrial capabilities. Sokol will serve customers in the rigid, flexible and corrugated packaging, labels, packaging distribution, packaging and contract manufacturing, pulp and paper, and commercial printing subsectors. He will be based in New York.

“Our commitment to building the Diversified Industrials Investment Banking group remains strong. We know that the packaging industry is a critical part of the economy and has seen transformational changes during the COVID pandemic as well as in its regulatory environment,” said Tim Sznewajs, Head of Investment Banking Group for Diversified Industries and Managing Director of DA Davidson. “We enthusiastically welcome Sokol to the team and look forward to his success.”

“We are deeply committed to our clients and their consulting needs in the Diversified Industries sector. This new senior hire aligns with our stated plan for continued investment and growth within the Diversified Industrials group, which is approaching 40 professionals on the DA Davidson platform,” said Rory McKinney, Head of Investment Banking and CEO of DA Davidson.

How are packaging companies weathering supply chain disruptions, commodity price inflation, persistent labor shortages and capital market volatility?

“Packaging is a necessary part of the economy, and it represents one of the least volatile manufacturing sectors given relatively low capital expenditure requirements compared to other manufacturing industries,” noted Sokol Cano, Managing Director of the Diversified Industrial Group at DA Davidson. “As such, packaging companies have performed remarkably well despite the macroeconomic challenges prevailing in the current environment. Revenue growth continues unabated as companies successfully pass on price increases, while average EBITDA margins have stabilized around the 15% mark, in line with long-term historical averages. The recent focus on sustainability has also spurred change in the industry and led to new product innovation and material substitution. I expect packaging companies to perform well in any economic environment through both pricing power and product innovation. I also expect the historically high interest in this sector from private equity firms to remain strong. »

How is DA Davidson uniquely positioned to meet the needs of businesses in the paper and packaging industry?

“As an independent, employee-owned company, DA Davidson represents an entrepreneurial environment free from the conflicts faced by competing investment banks. DA Davidson is uniquely positioned to assist mid-market paper and packaging clients not only with their M&A needs, but also with their debt financings through their advisory group on debt,” Cano said. “It’s no secret that direct lenders have won a huge market share in acquisition financing in packaging, and DA Davidson is extremely well placed to advise private equity acquirers on their financing needs. financing of mergers and acquisitions and acquisitions. Additionally, the Diversified Industrials investment banking team includes talented bankers with deep domain expertise who work collaboratively to achieve the best possible results for our clients.

Sokol joins DA Davidson after 11 years at KeyBanc Capital Markets, where he most recently led the paper and packaging industry practice. Prior to joining KeyBanc Capital Markets, Sokol spent four years at Barclays Capital and Lehman Brothers, where he was most recently vice president of its Industrial Mergers & Acquisitions group. In these roles, he researched and/or executed transactions with a combined value of over $50 billion.

Sokol holds an MBA from Columbia Business School, a BA from Wabash College and is a Chartered Financial Analyst.

About DA Davidson Companies

DA Davidson Companies is an employee-owned financial services company providing a range of financial and advisory services to individuals, businesses, institutions and municipalities nationwide. Founded in 1935 with headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.

Subsidiaries include: DA Davidson & Co., a full-service investment firm providing wealth management, investment banking, capital markets and fixed income services, and advice; Davidson Investment Advisors, a professional asset management firm; DA Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser that provides fixed income portfolios and advisory services.

For more information, visit www.dadavidson.com.


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