M&A Deal Summary

Key Bank Acquires First Niagara Financial Group

On October 30, 2015, Key Bank acquired financial services company First Niagara Financial Group for 4.1B USD

Acquisition Highlights
  • This is Key Bank’s 3rd transaction in the Financial Services sector.
  • This is Key Bank’s largest (disclosed) transaction.
  • This is Key Bank’s 3rd transaction in the United States.
  • This is Key Bank’s 1st transaction in New York.

M&A Deal Summary
Date 2015-10-30
Target First Niagara Financial Group
Sector Financial Services
Buyer(s) Key Bank
Deal Type Add-on Acquisition
Deal Value 4.1B USD
Advisor(s) J.P. Morgan Securities (Financial)
Sullivan & Cromwell (Legal)

Target

First Niagara Financial Group

Buffalo, New York, United States
First Niagara Financial Group, Inc. is a provider of financial services to individuals, families and businesses across New York, Pennsylvania, Connecticut and Massachusetts.

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Buyer(S) 1

Buyer

Key Bank

Cleveland, Ohio, United States
Category Company
Founded 1849
Sector Financial Services
Employees16,752
Revenue 6.2B USD (2023)
DESCRIPTION

Key Bank is a provider of investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. Key Bank was founded in 1849 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 3 of 9
Sector (Financial Services) 3 of 6
Type (Add-on Acquisition) 2 of 6
State (New York) 1 of 2
Country (United States) 3 of 9
Year (2015) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-17 Pacific Crest Securities

Portland, Oregon, United States

Pacific Crest Securities is a investment bank focused exclusively on technology. The firm is a full-service investment bank providing research, institutional sales and trading, and investment banking services to technology investors and companies worldwide.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-13 Rauch Industries

New York, New York, United States

Rauch Industries is a designer and distributor of high-end holiday ornaments, ceramics and other seasonal collectables, all marketed under the brand name Christopher Radko. Rauch Industries was founded in 1952 and is based in New York.

Buy $6M
Mergr

Product

Company

Legal