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Piper Sandler (PIPR) Acquires Restructuring Firm TRS Advisors

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Piper Sandler Companies (PIPR - Free Report) recently completed the acquisition of independent advisory firm, TRS Advisors. The terms of the deal, announced on Dec 9, 2020, have not been disclosed yet.

TRS Advisors specializes in complex financial transactions for public, private and government clients. Notably, Piper Sandler's robust investment banking services, and TRS Advisors' long and proven track record in carrying out restructuring activities is likely to aid product offerings to Piper Sandler's clients.

With this acquisition, TRS Advisors will handle Piper Sandler’s restructuring operations. The team will be led by Todd R. Snyder, the founder of TRS Advisors, who will now be the global head of restructuring for Piper Sandler. The team consists of 12 bankers and five managing directors.

With the acquisition of TRS Advisors, Piper Sandler will gain a solid foothold in the restructuring domain, which is currently highly lucrative amid the coronavirus crisis. This will enable the company to enhance its revenue mix and boost profitability.

Over the past six months, shares of Piper Sandler have jumped 72.1%, outperforming 38.8% growth recorded by the industry it belongs to.

Currently, the company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Amid the pandemic-induced economic slowdown, several finance companies are taking steps to focus on core businesses and restructure operations with the aim to enhance profitability. In December 2020, Farmers & Merchants Bancorp, Inc. (FMAO - Free Report) announced the acquisition of the assets and clients of Adams County Financial Resources.

Earlier in November 2020, People’s United Financial’s (PBCT - Free Report) banking subsidiary, People's United Bank, completed the divesture of People's United Insurance Agency to AssuredPartners. Further, in September, Umpqua Holdings Corporation (UMPQ - Free Report) signed an agreement to divest its wealth management business to Steward Partners Global Advisory, LLC.

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