Huntington Bancshares Inc., the Columbus, Ohio-based regional banking holding company, today announced that it has entered into a definitive agreement to acquire Capstone Partners, a Boston-based investment bank with an office in Detroit. Terms of the transaction were not disclosed.
Huntington Bank, which has operated in Michigan for years, expanded its presence in the state when it completed a merger with TCF Bank in June 2021.
“The addition of investment banking and financial advisory services aligns with our capital markets strategic plan and better positions Huntington to serve the full spectrum of middle market client needs within our footprint, as well only to those we serve on an increasingly national basis,” said Scott Kleinman, co-chairman of Huntington Commercial Banking.
“Combining Huntington’s brand and capabilities with a leading middle-market investment banking franchise with unique industry insights creates a differentiating experience for our clients.”
Capstone has four main areas of expertise: mergers and acquisitions (M&A), capital advisory, financial advisory, special situations and restructuring. Capstone is consistently ranked among the top US advisors for mid-market M&As. Besides its Boston headquarters and Detroit office, Capstone has operations in Denver, Chicago, Dallas, New York, Philadelphia, and more.
“Twenty years ago, we founded Capstone Partners with the goal of becoming a leader in the middle market. Since then, we have been an innovative and growth-oriented company, and we are excited about our future with Huntington,” said John Ferrara, Founder and CEO of Capstone.
“Huntington is the perfect partner for Capstone, with complementary cultures focused on people and community. Our combined capabilities will enhance Capstone’s full suite of products and services for private business owners and financial sponsors. We believe this combination puts us in a strong position to continue the continued acceleration of the market and deliver a superior experience to our customers, employees and partners.
The transaction is expected to close in the second quarter of 2022, subject to receipt of required regulatory approval and satisfaction of customary closing conditions.
Keefe, Bruyette and Woods, A Stifel Company, served as financial advisors to Capstone Partners.
Founded in 1866, National Bank Huntington and its affiliates provide consumers, small and medium-sized businesses, corporations, municipalities and other organizations with a full range of banking, payment, wealth management and risk management.