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Stifel Acquires Certain Assets of George K. Baum & Company

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Stifel Financial Corp. (SF - Free Report) has closed the deal to acquire certain assets of George K. Baum & Company (“GKB”). The financial terms of the transaction, announced in August, were not disclosed.

GKB, based in Kansas City, MO, provides services such as structuring, underwriting and marketing of taxable and tax-exempt municipal securities. It is a well-known name in Colorado, Kansas, Missouri and Utah, and has strong nationwide practices likehousing, higher education and independent schools.

Ronald J. Kruszewski, Chairman and CEO of Stifel said, “The firm’s capabilities in both taxable and tax-exempt municipal securities are a natural fit with Stifel’s existing municipal finance platform and provide a strong foundation to further grow the business.”

Notably, the transaction does not include George K. Baum Capital Advisors or Baum Capital Partners, and hence these businesses will not be impacted by the deal.

Stifel has been acquiring companies to fulfil its strategic vision of becoming a premier wealth management and investment banking firm. In September, the company acquired Cleveland, OH-based B&F Capital Markets, Inc. — a provider of extensive interest rate swap capabilities to regional and community banks.

Further, in July 2019, it closed the buyout of Mooreland Partners — an independent M&A and private capital advisory firm that provides services to global technology industry. Also, in June, Stifel inked a deal to acquire the capital markets business of Canada-based GMP Capital.

Stifel’s strong capital position and earnings strength enable it to undertake strategic growth actions. Moreover, diversified sources of revenues are expected to support the company’s financials.

Investment banks across the globe are undertaking measures to improve revenue mix. In sync with this, Piper Jaffray Companies announced an agreement to acquire Sandler O’Neill + Partners, L.P. In addition, earlier this year, Raymond James (RJF - Free Report) acquired Silver Lane Advisors LLC while LPL Financial Holdings Inc. (LPLA - Free Report) closed the buyout of Lakeland, FL-based Allen & Company.

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