Cohen & Company, an investment firm specializing in credit-related fixed income investments, has signed a definitive agreement pursuant to which Cohen Brothers, a majority-owned subsidiary of Cohen & Company, will acquire JVB Financial Holdings for $16.6m in cash and equity.
JVB is an investment firm, which specializes in the wholesale distribution of fixed income securities.
Cohen & Company will finance the transaction with $12.7m in cash and $3.9m in equity.
64% of JVB owner-employees have signed three-year employment contracts to continue as employees of the combined company.
Cohen & Company chairman and CEO Daniel Cohen said that the acquisition of JVB will significantly broaden its reach and presence in the fixed income securities market.