$85 million Deal Value
has been acquired by
Financial advisor to Petsky Prunier
Canaccord Genuity has acquired Petsky Prunier, a preeminent boutique M&A advisory firm based in New York, in an asset-based transaction
Founded in 1999, Petsky Prunier has built a leading investment banking practice with a disciplined focus on the mid-market technology, media, marketing, information & services and healthcare industries.
Sanjay Chadda, Partner & Managing Director of Petsky Prunier, will join the management operating committee of Canaccord Genuity and co-lead the U.S. investment banking group and the U.S. technology, media, marketing and information services practice.
Canaccord Genuity (TSX: CF) is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets.
Acquisition underscores Canaccord Genuity's commitment to adding scale to its fixed cost base in the U.S. and diversifying its revenue streams.
Total consideration for the transaction is $85mm consisting of $45mm in upfront payments and $40mm in a performance-based earnout. Petsky Prunier generated revenue of $43mm for the year ended December 31, 2018.