Raymond James has acquired European M&A specialist, Mummert & Co., for an undisclosed sum. The deal sees Raymond James expand its industry experience, and also provides improved access to the European market and regional private equity players.
Mummert & Co. (Mummert), was founded in 2001 and is headquartered in Munich, Germany. The partnership provides mid-market M&A consultancy for international businesses, with focus on the technology, industrial, healthcare, consumer and business services sectors. Mummert & Co., which has advised on more than 140 closed transactions since launching, has a team of 20 professionals.
Fifteen years after its inception, Mummert has decided to join the ranks of US-based financial services firm Raymond James. The deal sees Raymond James expand its investment banking capabilities in Europe, allowing the company to push deeper into the European M&A market. In addition, the deal expands the firm’s industrial knowledge and broadens its base of private equity relationships in Europe (a market which has been booming in recent years) – around a third of all Mummert’s deals involves private equity players and their portfolio companies.
The deal will see Mummert’s 20 professionals join Raymond James’s more than 300 M&A advisory professionals working from more than 20 offices across the US, Canada and Europe. Mummert will rebrand as Raymond James, and operate within the firm’s Corporate Finance division ('Raymond James Investment Banking'). The value of the deal has not been disclosed.
“Establishing an advisory platform on the ground in Europe has been a very high strategic priority,” says Jim Bunn, head of Raymond James Investment Banking. “Mummert & Co. has an exceptional team, a track record of highly successful transactions and is led by senior professionals with deep experience in several industry sectors that represent a core focus for us.” Raymond James CEO Paul Reilly adds “We are confident that together we will continue to grow in Europe and build on Mummert & Co.’s impressive track record.”
Melville Mummert, a Managing Partner of Mummert, says that the partnership is “excited to join the Raymond James team” which they see as “an ideal partner for Mummert & Co.". He further states “They share our sector-focused approach, commitment to excellence in execution and entrepreneurial mindset. We look forward to leveraging our strong respective networks among strategic decision makers and investors to help our clients realise premium outcomes.”