 |
Stamford | San Diego | San Francisco | New York | Boston | London
|
 |
NewsCaris & Company and M.M. Dillon & Co. Announce Merger STAMFORD, Conn.--(BUSINESS WIRE)--Caris & Company, an equity research, sales and trading firm based in San Diego, California, and M.M. Dillon & Co., an investment banking and private equity partnership based in Stamford, Connecticut, today announced a business combination. The combined firm, to be named Caris Dillon, will create an integrated investment bank with the expertise and focus to provide bulge bracket capital market services to growth sector small and mid-cap companies. The combination will be structured with each firm owning 50 percent of the new entity, and is subject to FINRA approval. Caris Dillon also named Michiel C. McCarty, a 35 year Wall Street investment banking veteran and current Chairman and CEO of M.M. Dillon & Co., and Darren Caris, current Chairman and CEO of Caris & Company, as Co-CEO’s to run the investment bank. The combination is anticipated to occur early in the New Year after FINRA approval, and a coincident capital injection from a collection of industry veterans. The planned capital increase is designed to allow Caris Dillon the ability to underwrite on a lead and sole managed basis most of the transactions needed by the growth companies the two organizations follow, plus those new companies attracted by the growth focus of the new integrated investment bank. In preparation for the combination, both organizations have been taking advantage of the current downturn on Wall Street to add experienced talent to their organizations in selected sectors. Caris and Dillon have been operating under a strategic alliance since March, with coordination of hiring and strategic moves in addition to normal client development. This successful six month alliance led to the discussions that culminated in the agreed combination of the two firms. Darren Caris, Co-CEO said in a statement “I am very excited about the planned combination, which I view as world class research meeting world class banking with the growth sectors the beneficiaries. I have worked now with the Dillon people for over six months and firmly believe they have the same interests as the Caris firm, to provide the ethical and competent framework needed for capital market access for growth companies. I have worked hard to build Caris over the last eight years, as have the Dillon people, and with the merger we will both fill our respective needs in a way that neither of us could accomplish alone. It is truly a win win deal for our firms and ultimately a winning one for our clients“ Michiel McCarty, Co-CEO, commented, “The Caris Dillon combination is the next step in the building of the leading investment bank for growth companies and their investors. Caris has perfected the truly independent focused research platform in a manner unseen for 25 years, creating a must read analysis for institutional investors in technology, healthcare, energy and consumer. Dillon’s success in becoming a trusted advisor to CEOs and boards in the three important sectors of healthcare, technology and energy perfectly complements the Caris research-centric platform. The ultimate beneficiaries of this unique blend of two unbiased providers of critical advice and access to the markets will be the growth companies desperately in need of capital and their providers the institutional investors.” About Caris & Company. Established in 2002, Caris & Company is a full service investment bank that services Wall Street's institutional investment community by providing differentiated, collaborative, alpha generating ideas. Headquartered in San Diego, CA, Caris & Company has offices in New York, San Francisco, and Boston. The firm's research product includes coverage in the following areas: Generic and Specialty Pharm, Medical Devices, Medical Diagnostics, Healthcare IT, Semiconductors, Semi-Cap Equipment, Enterprise Software, Hardware, Internet, Alternative Energy, Utilities, E&P, Personal Care/Household Products, Toys, Media & Entertainment, Specialty Retail, and Action Sports Retailers. About M.M. Dillon & Co. M.M. Dillon & Co. is an employee-owned investment banking partnership where industry and product specialists collaborate to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms. Contacts: M.M. Dillon & Co. Michiel McCarty, 203-569-6823 Co-CEO or Caris & Company Darren Caris, 917-464-1601 Co-CEO |
|