Citizens Financial Group Inc (CFG) said on Wednesday that it had signed a definitive agreement to acquire substantially all of the assets of DH Capital LLC, a private investment banking firm that provides services to companies in the Internet infrastructure, software and next generation IT service fields.
Financial terms of the acquisition, which is expected to be finalized in the first quarter of 2022 subject to regulatory approvals, remained undisclosed.
Based in New York City, DH Capital has completed more than 200 merger and acquisition transactions at a total value of nearly $35 billion.
“Clients view Citizens as a trusted strategic and financial partner committed to delivering complete solutions, quality execution and excellent service throughout their business life cycle,” Donald McCree, vice chairman and head of Commercial Banking at Citizens, said in a statement.
“The DH Capital team brings us deep expertise in the digital infrastructure sector, a key and ongoing area of opportunity in today’s highly dynamic commercial market,” McCree added.
Willkie Farr & Gallagher LLP served as legal counsel to Citizens on the transaction, while Keefe, Bruyette & Woods acted as financial advisor of DH Capital and Mayer Brown LLP acted as its legal advisor.
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