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M&A Deal Summary

Cowen Acquires CRT Capital - Businesses

On March 22, 2016, Cowen acquired financial services company CRT Capital - Businesses from CRT Capital Group

Acquisition Highlights
  • This is Cowen’s 3rd transaction in the Financial Services sector.
  • This is Cowen’s 5th transaction in the United States.

M&A Deal Summary
Date 2016-03-22
Target CRT Capital - Businesses
Sector Financial Services
Buyer(s) Cowen
Sellers(s) CRT Capital Group
Deal Type Divestiture

Target

CRT Capital - Businesses

United States
CRT Capital - Businesses includes cedit products, credit research, special situations and emerging markets units.

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Buyer(S) 1

Buyer

Cowen

New York, New York, United States
Category Company
Founded 1918
Sector Financial Services
Employees1,534
Revenue 2.1B USD (2021)
DESCRIPTION

Cowen is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, and sales and trading services. Cowen was founded in 1918 and is based in New York City.

DEAL STATS #
Overall 5 of 8
Sector: Financial Services M&A 3 of 4
Type: Divestiture M&A Deals 2 of 2
Country: United States M&A 5 of 7
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-01 Concept Capital Markets

Garden City, New York, United States

Concept Capital Markets LLC is an independent provider of prime brokerage services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-03 ConvergEx Group

New York City, New York, United States

ConvergEx Group LLC is an agency-focused global brokerage and trading related services provider that takes on the industry's toughest challenges, from complicated trades to complex businesses. With clients' interests as the top priority, Convergex delivers comprehensive solutions that span global high-touch and electronic trading, prime brokerage, clearing, commission management and beyond. Headquartered in New York with a presence in several other locations including Atlanta, Boston, Orlando, San Francisco and London, the company serves nearly 3,000 clients accessing over 100 global market centers.

Buy $116M

Seller(S) 1

SELLER

CRT Capital Group

Stamford, Connecticut, United States
Category Company
Founded 1990
Sector Financial Services
DESCRIPTION

CRT Capital Group LLC ("CRT") provides security brokerage and research services to nearly 1,000 institutional accounts with established counterparty relationships around the world.

DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-20 Sterne Agee Group - Institutional Equity business

United States

Sterne Agee Group - Institutional Equity business is a equity sales, trading and research Distribution platform.

Buy -
Mergr

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