Huntington Bancshares has completed its previously announced takeover of investment banking and advisory firm Capstone Partners.
The deal, the financial terms of which have not been disclosed, was first announced by the bank in March this year.
Capstone specializes in mergers and acquisitions, capital advisory, financial advisory and special situations and restructuring.
The acquisition is expected to expand Huntington’s regional banking foundation with the addition of two main offices in Boston and Denver and additional offices in 12 US cities, including Chicago, Dallas, Detroit, Los Angeles, New York and Philadelphia.
Capstone is also expected to strengthen Huntington’s capabilities to meet the needs of middle-market business owners throughout the business lifecycle.
Following the transaction, the two companies will offer a unified set of banking solutions spanning traditional commercial banking, investment banking and capital markets, specifically tailored to private business owners.
Scott Kleinman, senior executive vice president and co-president of Huntington Commercial Banking, said, “The combined industry expertise of Huntington and Capstone, along with our ability to serve our growing middle market customer base in the United States, expand our role as a trusted advisor to a wide variety of businesses.
“Our industry knowledge and full suite of capabilities positions us to deliver a consistent and differentiated experience for our internal customers, who will benefit from an aligned culture that puts customers and communities at the center of everything we do. “
Capstone Partners Founder and Chairman John Ferrara added, “Our combination will accelerate Capstone’s continued growth plans while strengthening Huntington’s banking verticals, particularly in sponsor finance, healthcare, technology and telecommunications, and industrials.