The independent American houses are accelerating their establishment plans in Europe and encouraging their European competitors to join forces. After Stife-Mainfirst, Cowen-Quarton and the takeover of Messier Maris by the Italian Mediobanca, the specialist in tech stocks Bryan Garnier announced this Wednesday a new acquisition in Northern Europe with Beringer Finance.
Brexit awakens the interest of independent American banks for Europe… and the projects of alliances between franchises on the continent. “We are often called upon by houses like PJT, born from the Blackstone split, or Moelis, to join them”, testify investment bankers in Paris with a long experience of mergers and acquisitions behind them. Their competitor Evercore is also looking to enter Europe’s most contested market by recruiting a team from London – modeled after Perella Weinberg with David Azéma.
But others are in a more hurry and go shopping to find a place on the Old Continent. In November, the American bank Stifel bought the German Mainfirst Bank and its 200 employees to continue to offer advice, brokerage and post-Brexit investment banking services. Fifteen days later, it’s his competitor Cowen who redeemed Quarton International, itself born of the merger between the German-Swiss Blue Corporate Finance and the firm Quarton, based in Detroit in the United States.
And three acquisitions for tech consulting Bryan Garnier
These American incursions at the same time revive the reflections among their European rivals. While the Italian Mediobanca has just taken control of Messier Maris & Associés, it is the turn of the pan-European investment bank Bryan, Garnier & Co to announce this Wednesday a new acquisition, the third in four years . After the German Cartagena Capital and the American JMP Securities, the start-up M&A consultancy firm is establishing itself in a flagship tech market in Europe: the Nordic countries, with Beringer Finance.
Bryan Garnier had already attempted an incursion there in 2017, but not followed up with EOC Finance. With Beringer Finance, the bank advising Devialet for its fundraising of more than $ 100 million and the blockchain infrastructure expert Bitfury ($ 80 million), will strengthen its positions with start-ups in Stockholm, Oslo , Reykjavík, as well as in Palo Alto in the United States where the Scandinavian establishment is established.
Together, the two stores have a track record of 85 deals over the past two years, including the sale of Prima Solutions to Carlyle or that of Symestis to Boston Scientific, as well as some fifteen IPOs in Frankfurt or New York.
Berlin and Frankfurt in the crosshairs
“We are going to increase our franchise in biotechs in the Nordic region, the first in terms of number of transactions in this sector, and where we are already working with a large number of investors”, welcomes Greg Revenu, managing partner of Bryan Garnier. With this takeover, the French investment bank is also broadening its field of action in IT services and fintechs, the area also being among the most active in Europe. And Bryan Garnier’s appetite won’t necessarily stop there: “Berlin and Frankfurt are also ecosystems of growth companies where we could have a strong interest in strengthening ourselves in the future”.