Transaction supports the Company's commitment to expanding its advisory capability and increases its European domain expertise in the Technology and Healthcare sectors
Canaccord Genuity to acquire the business of Results International. (Credit: Edar from Pixabay)
Canaccord Genuity Group Inc. (TSX: CF) (the “Company”) is pleased to announce that through its UK & Europe capital markets business, Canaccord Genuity Limited, it has entered into an asset purchase agreement to acquire the business of Results International Group LLP (“Results”). Results is an independent advisory firm headquartered in London, UK, focused in the technology and healthcare sectors which provides M&A and corporate finance services to entrepreneurs, corporates, private equity firms and investors. Results has executed more than 60 strategic advisory transactions in the past three years. The transaction is expected to close in the current fiscal quarter, subject to customary closing conditions.
This transaction complements recent investments by the Company to expand its global Advisory business with the acquisitions of Petsky Prunier (2019) and Sawaya Partners (2021) in the United States and expands its European domain expertise in the Healthcare and Technology sectors.
“Since our initial investment to expand our advisory practice in 2019, we have meaningfully increased our relevance as a leading independent midmarket advisory firm in North America and Europe, and this has contributed to our stronger profitability,” said Dan Daviau, President & CEO of Canaccord Genuity Group Inc. “Our acquisition of Results supports our strategy of increasing contributions from our advisory segment and provides robust European expertise in two of our core focus sectors, healthcare and technology.”
“With deeply established strength in the Technology and Healthcare sectors, Results brings a strong complement to our European advisory business,” said Nick Russell, Chief Executive Officer of Canaccord Genuity Limited. “We are delighted to welcome the Results team and we expect this combination will meaningfully strengthen our respective businesses to create a combined practice that is substantially greater than the sum of its parts.”
To ensure a seamless transition for Results’ clients and employees, Managing Partner Julie Langley will become Head of Technology and Healthcare Advisory for Canaccord Genuity UK & Europe. All existing employees of Results are expected to continue with Canaccord Genuity’s UK & Europe capital markets business.
Julie Langley, Managing Partner of Results, added: “For more than three decades the Results team has been achieving outstanding results for our clients through a combination of deep sector expertise, a relentless focus on client service and an agile and collaborative approach. We are pleased to have found a flexible and entrepreneurial partner in Canaccord Genuity, where both the strategic and cultural fit are so strong. We look forward to providing enhanced geographic reach, domain expertise and service offering for our combined clients.”
Hines Associates is acting as financial adviser and Squire Patton Boggs is acting as legal adviser to Results in connection with the transaction. Shearman and Sterling are providing legal advice to Canaccord Genuity.
Source: Company Press Release