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June 2, 2022

Raymond James finalises $1.1bn takeover of TriState Capital

Raymond James Financial has concluded its previously announced takeover of diversified financial services firm TriState Capital.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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by GlobalData
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The $1.1bn cash and stock transaction was first announced by the company in October last year.

TriState Capital specialises in banking and asset management services to individuals, corporations and municipalities.

As part of the transaction, each share of TriState Capital common stock was converted into the right to receive $6.00 in cash and 0.25 shares of Raymond James common stock.

This represents per share consideration of $30.62 based on the closing price of Raymond James common stock on 31 May 2022.

Raymond James chair and CEO Paul Reilly said: “The strategic and cultural fit between Raymond James and TriState has been continually reinforced as our teams have worked toward this point over the last few months.

“Our collective focus on client-first values and a long-term horison are unique and a true differentiator for our firms. I’m thrilled to officially welcome TriState Capital to the Raymond James family and look forward to continue growing together.”

TriState Capital executive chairman and founder Jim Getz said that Tristate Capital Bank will remain as separately-chartered bank and will continue offering its premier private banking, commercial lending and treasury management solutions to clients.

Getz also added that Chartwell Investment Partners, TriState’s asset management franchise, will complement and benefit from the resources offered by Raymond James’ Carillon Tower Advisers.

Commenting on the deal, he said: “We at TriState Capital are as excited about our future as we have ever been, and we are excited about our opportunity to partner with Raymond James who truly values what we have built and what we have left to achieve.”

Last year, Raymond James’ subsidiary Raymond James UK Wealth Management struck a deal to buy British wealth manager Charles Stanley in a deal that is worth £278.9m.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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