Canada’s Canaccord Genuity Group (CG) has reached a definitive agreement to buy Sawaya Partners, a New York-based independent M&A advisory firm focused on the consumer sector.
The deal, whose financial details are undisclosed, expands CG’s advisory capability and builds upon its existing consumer practice.
It is also said to offer the firm a ‘strong intersection with core CG focus sectors’ including media, healthcare, technology, and sustainability.
Canaccord Genuity Capital Markets (US) president Jeff Barlow said: “We are excited to be building upon the success of our advisory practice with the high-quality team of professionals from Sawaya Partners and adding deep domain expertise and relationships in the consumer sector.
“This transaction creates an opportunity to meaningfully enhance our service offering to our combined clients, and advantageously positions us to capitalise on attractive industry trends.”
As part of the deal, Sawaya Partners founder and managing partner Fuad Sawaya will join CG’s US operating committee. He will assume the role of CG’s Consumer vice chairman and global head of its consumer investment banking practice.
Sawaya Partners partners Jeff Kuhr and Slava Leykind will also join CG and become co-heads of its US Consumer Investment Banking group.
All existing employees of Sawaya Partners will be part of CG’s US capital markets business.
Commenting on the deal: “This transaction presents a tremendous opportunity to expand our reach, while leveraging CG’s extensive global footprint and capital markets capabilities to provide enhanced opportunities for our corporate and sponsor clients.”
Recently, CG reached an agreement to buy Punter Southall Wealth from Punter Southall Group in a bid to expand its UK footprint and to further bolster its financial planning capability.