M&A Deal Summary

BGC Acquires OTC

On October 22, 2024, BGC acquired financial services company OTC

Acquisition Highlights
  • This is BGC’s 8th transaction in the Financial Services sector.
  • This is BGC’s 8th transaction in the United States.
  • This is BGC’s 2nd transaction in Texas.

M&A Deal Summary

Date 2024-10-22
Target OTC
Sector Financial Services
Buyer(s) BGC
Deal Type Add-on Acquisition
Advisor(s) Jefferies (Financial)

Target

OTC

Houston, Texas, United States
OTC is an independent institutional broker of commodities, covering financial and physical instruments from offices in Chicago, Des Moines, Geneva, Houston, London, Louisville, New Jersey, New York and Singapore.

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Buyer(S) 1

Buyer

BGC

New York, New York, United States

Category Company
Founded 1945
Sector Financial Services
Employees3,856
Revenue 2.0B USD (2023)
DESCRIPTION

BGC is a global brokerage company primarily servicing the wholesale financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions. BGC was incorporated in 1945 and is based in New York City.


DEAL STATS #
Overall 21 of 21
Sector (Financial Services) 8 of 8
Type (Add-on Acquisition) 20 of 20
State (Texas) 2 of 2
Country (United States) 8 of 8
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-10 Sage Energy Partners

Houston, Texas, United States

Sage Energy Partners specializes in refined products, biofuels, ethanol, carbon emissions, renewables, NGLs, and petrochemicals brokerage services. Sage Energy Partners is based in Houston, Texas.

Buy -