Piper Sandler Enters Definitive Agreement to Acquire Aviditi Advisors
Summary
MINNEAPOLIS--(BUSINESS WIRE)--Piper Sandler Companies (NYSE: PIPR), a leading investment bank, today announced that it has entered into a definitive agreement to acquire Aviditi Advisors. Ryan Schlitt and John Robertshaw co-founded Aviditi Advisors after previously leading or serving in senior capacities in private capital advisory groups and asset management at Credit Suisse Securities and Donaldson, Lufkin & Jenrette. Aviditi provides these critical capabilities and increases the value of our combined platform to our single largest client base – private equity,” said Mike Dillahunt, global co-head of investment banking at Piper Sandler. As a leading investment bank, we enable growth and success for our clients through deep sector expertise, candid advice and a differentiated, highly productive culture. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated, including the following: (1) the transaction described in this announcement is subject to customary closing conditions, including obtaining required regulatory approvals, and may not close on the expected timing or at all; (2) the costs or difficulties relating to the combination of the businesses may be greater than expected and may adversely affect our results of operations and financial condition and our ability to realize anticipated synergies from the transaction; (3) the expected benefits of the transaction may take longer than anticipated to achieve and may not be achieved in their entirety or at all, and will in part depend on the ability of Piper Sandler to retain and hire key personnel and maintain relationships with its clients; (4) developments in market and economic conditions have in the past adversely affected, and may in the future adversely affect, the business and profitability of Piper Sandler generally and its investment banking business specifically; and (5) other factors identified under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, and updated in our subsequent reports filed with the SEC.