Stifel to Acquire Torreya Partners

Rhea-AI Summary

Stifel Financial Corp. (NYSE: SF) has signed a definitive agreement to acquire Torreya Partners LLC, a prominent independent M&A and advisory firm for the life sciences sector. Founded in 2007, Torreya specializes in biotechnology and pharmaceuticals, bolstering Stifel's position in healthcare. With over 40 professionals across key global markets, the acquisition aims to enhance Stifel's capabilities in complex deals. The transaction's terms are undisclosed, yet it is expected to solidify Stifel's leadership in the healthcare advisory landscape.

Positive

• Acquisition of Torreya enhances Stifel's capabilities in life sciences M&A.
• Strategic partnership expected to solidify Stifel’s leadership in healthcare.
• Torreya's established relationships with growth-focused corporations and VCs could lead to new business opportunities.

Negative

• None.

Addition of Global M&A Advisory Firm Solidifies Stifel’s Leadership in Healthcare

ST. LOUIS, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced it has signed a definitive agreement to acquire Torreya Partners LLC (“Torreya”), a leading independent M&A and private capital advisory firm serving the global life sciences industry. Terms of the transaction were not disclosed.

Founded in 2007, Torreya has deep specialization within life sciences, including biotechnology and pharmaceuticals. In addition to its core M&A business, Torreya also offers advisory expertise across divestitures and joint ventures, royalty monetization, licensing agreements, and private capital raising. With a team of more than 40 professionals located in New York, London, and Mumbai, Torreya maintains an international presence in a sector that demands cross-border capabilities and global reach.

“One in five dollars spent in the United States, and a growing percentage globally, is healthcare-related,” said Ronald J. Kruszewski, Stifel Chairman and CEO. “This combination brings together two like-minded firms that drive innovation with forward thinking and creative solutions for clients. I look forward to welcoming the Torreya team to Stifel.”

“Over the past 15 years, Torreya has built a strong reputation as a trusted advisor to global life sciences companies, especially in complex and transformational deals that often require unique approaches and structures,” noted Brad Raymond, Stifel Global Head of Investment Banking. “We have been very impressed with the breadth and quality of Torreya’s relationships, which include entrepreneurs and growth-focused corporations, along with venture capitalists and specialty healthcare investors. Without question, this partnership helps solidify Stifel’s leadership position across healthcare.”

Led by Co-Heads Mark Dempster and Declan Quirke, the Stifel Global Healthcare Investment Banking Team has advised on approximately 700 total M&A and capital raising transactions since 2010. Stifel’s presence in the healthcare sector goes well beyond investment banking, and includes a dedicated equity research offering (15 publishing analysts covering 245 companies worldwide), a dedicated specialist sales force, and a flagship annual Healthcare Conference, which attracts nearly 1,000 industry participants.

“We view Stifel as the right partner to help us accelerate growth across industry, product, and geographic coverage,” noted Tim Opler, Torreya Managing Director and Co-Founder. “In addition to sharing common values and a client-first approach, we have been impressed by the Stifel team’s proven results and continued momentum across the healthcare sector. Together, we are well positioned to serve clients and execute transactions that lead to medical advances and ultimately improve people’s lives.”

Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Stifel Independent Advisors, LLC. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.

Torreya Company Information
Torreya is a global investment banking boutique serving companies in the life sciences industry. Our partners are senior industry bankers and executives, with deep experience, knowledge, and networks. We are a partner of choice for companies seeking discreet, conflict-free, and knowledgeable advice on M&A, pharmaceutical asset sale, capital markets, and licensing transactions. Torreya is differentiated from most other life sciences advisory practices by the breadth of its global presence. Over half the transactions on which we advise are cross-border.

Cautionary Note Regarding Forward-Looking Statements
The information contained in this press release contains certain statements that may be deemed to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this report not dealing with historical results are forward-looking and are based on various assumptions. The forward-looking statements in this report are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Material factors and assumptions could cause actual results to differ materially from current expectations. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. The Company disclaims any intent or obligation to update these forward-looking statements.

Media Contact
Neil Shapiro, (212) 271-3447
shapiron@stifel.com

Investor Relations Contact
Joel Jeffrey, (212) 271-3610
investorrelations@stifel.com 

FAQ

What is the purpose of Stifel's acquisition of Torreya Partners?

The acquisition aims to enhance Stifel's capabilities in life sciences mergers and acquisitions, solidifying its leadership in the healthcare sector.

When was the acquisition of Torreya Partners announced?

The acquisition was announced on December 22, 2022.

What impact will Torreya's acquisition have on Stifel's business?

The acquisition is expected to drive innovation and provide comprehensive advisory services in healthcare, improving client service and transaction execution.

Is the financial value of the Torreya Partners acquisition disclosed?

The terms of the transaction have not been disclosed.

What specialties does Torreya bring to Stifel after the acquisition?

Torreya specializes in biotechnology and pharmaceuticals, offering expertise in M&A, divestitures, joint ventures, and capital raising.