Canaccord Genuity’s Acquisition of Petsky Prunier


Debevoise & Plimpton LLP has advised Canaccord Genuity Group Inc. on the deal

Canaccord Genuity Group Inc. has acquired Petsky Prunier, a preeminent boutique M&A advisory firm based in New York. This acquisition underscores Canaccord Genuity’s commitment to adding scale to its fixed cost base in the U.S. and diversifying its revenue streams, while enhancing its client offering to capture greater market share in its core areas of strength.

Founded in 1999, Petsky Prunier has built a leading U.S.-based investment banking practice with a disciplined focus on the mid-market Technology, Media, Marketing, Information & Services and Healthcare industries. In 2018 Petsky Prunier executed more than 30 strategic advisory transactions for mid-market companies and the firm has achieved number one ranking by Bloomberg for the number of Mid-Market Internet & Advertising1 transactions in the United States for seven consecutive years. This acquisition is expected to be accretive to Canaccord Genuity’s adjusted2 earnings during the first year of operation.

To ensure a seamless transition for Petsky Prunier clients and employees, Sanjay Chadda, Partner and Managing Director of Petsky Prunier will join the management operating committee of Canaccord Genuity LLC and co-lead the U.S. investment banking group and the U.S. technology, media, marketing and information services practice. In this capacity, he will continue to focus on existing and new client mandates. All existing employees of Petsky Prunier will continue with the combined firms.

The Debevoise team was led by partner Gregory V. Gooding (Picture) and included partners Gregory J. Lyons and Michael Bolotin; counsel Charles E. Wachsstock; and associates Samantha L. Berkovits, Peter J. Dalmasy, Michelle Guo and Meredith Wren.

Involved fees earner: Samantha Berkovits – Debevoise & Plimpton; Michael Bolotin – Debevoise & Plimpton; Peter Dalmasy – Debevoise & Plimpton; Gregory Gooding – Debevoise & Plimpton; Michelle Guo – Debevoise & Plimpton; Gregory Lyons – Debevoise & Plimpton; Charles Wachsstock – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: Canaccord Genuity;

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Author: Ambrogio Visconti