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Stifel Financial To Acquire North Atlantic Capital's Future Venture Investment Business

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  • Stifel Financial Corp (NYSE: SFinked an agreement to acquire the future business of North Atlantic Capital Corporation, based in Portland, Maine.
  • The acquisition further consolidates Stifel’s position as an active manager of small business investment corporations (SBIC) and venture capital (VC) funds.
  • Additionally, Stifel has pledged to invest in the following North Atlantic SBIC.
  • The North Atlantic investment strategy focused on high-growth technology companies will be a valuable addition to Stifel’s expertise in institutional research and investment banking services.
  • “Our plan is to leverage North Atlantic’s deep understanding of the venture capital markets to help us build out a robust service offering for privately held, high-growth technology businesses,” said Stifel Financial Co-President Victor Nesi.
  • The financial terms of the transaction were not disclosed.
  • The company’s closing cash balance stood at $2.3 billion as of December 31, 2020. Operating cash flow stood at $1.7 billion.
  • Price Action: SF shares are trading marginally higher by 0.65% at $57.87 on the last check Friday.
 

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