Huntington Acquires Capstone Partners
COLUMBUS, Ohio — Huntington Bancshares Inc., holding company of Huntington National Bank, has acquired Capstone Partners, an investment banking and advisory firm based in Boston.
Capstone’s four primary focus areas include mergers and acquisitions, capital advisory, financial advisory, and special situations and restructuring, according to a release. The acquisition brings investment banking and advisory expertise to Huntington while accelerating capital markets offerings to middle market commercial banking customers.
“The addition of investment banking and financial advisory services aligns with our capital markets strategic plan and better positions Huntington to serve the full range of needs of middle market clients within our footprint, as well as those we serve on an increasingly national basis,” Scott Kleinman, co-president of Huntington Commercial Banking, said in the release. “The combination of Huntington’s brand and capabilities alongside a premier middle market investment banking franchise with unique industry insights creates a differentiating experience for our clients.”
Capstone has primary offices in Boston and Denver, as well as other offices in Chicago, Dallas, Detroit, Los Angeles, New York and Philadelphia.
“Twenty years ago, we founded Capstone Partners with the goal of building a middle market leader. Since then, we have been an innovative, growth-oriented firm, and we are excited about our future with Huntington,” said John Ferrara, Capstone’s founder and CEO. “Huntington is the perfect partner for Capstone, with complementary cultures focused on people and the community. Our combined capabilities will enhance Capstone’s full suite of products and services to private business owners and financial sponsors. We believe this combination puts us in a strong position to pursue continued market acceleration and deliver a superior experience for our clients, employees, and partners.”
The transaction is expected to close in the second quarter of this year. It is subject to receipt of required regulatory approval and satisfaction of customary closing conditions, according to the release.
Published by The Business Journal, Youngstown, Ohio.