Fifth Third Bancorp (FITB) announced today that Fifth Third Securities Inc. has agreed to acquire Coker Capital Advisors, a premier M&A advisory services firm focused on middle-market healthcare companies.
“The addition of Coker Capital Advisors to our team builds upon the strength of our Healthcare vertical, the largest at Fifth Third,” said Lars Anderson, executive vice president and chief operating officer for Fifth Third. “Additionally, it complements the capabilities of our M&A team led by Bill Tyson, co-head of Capital Markets. With a shared client-first culture, deep industry expertise and a strong focus on the middle market, Coker Capital is a great strategic fit for our team.”
Joining Fifth Third offices in Atlanta, Charlotte and New York, Coker Capital’s leadership will report to Rob Schipper, head of Investment Banking. The addition expands the Investment Banking and M&A group to more than 40 professionals, with experience advising a range of industry sectors, including Consumer & Retail, Diversified Industrial, Downstream Petroleum, Business & Technology-enabled Services and Healthcare.
Over the last decade, the Fifth Third Healthcare vertical has expanded its presence and expertise to become one of the top healthcare banking platforms to middle-market and corporate clients. It serves one of the largest and fastest growing segments of the U.S. economy. Healthcare spending is projected to reach $5.5 trillion by 2025, and it’s a sector marked by significant change and transformation.
“Coker Capital Advisors’ concentrated expertise in the complex healthcare industry will add significant value to our team through their experience and results,” said Anderson.
The Coker leadership team has more than 100 years of combined healthcare transaction experience and has executed transactions with an aggregate value in excess of $65 billion. The company was founded in 2009 and is led by Managing Directors Dan Davidson, James Heidbreder, Bo Hinton, John Reiboldt and McNeill Wester.
“Joining the Fifth Third Securities team will enable us to extend our reach and introduce enhanced capabilities to our clients,” said Coker Capital’s partners in a joint statement. “Our exclusive healthcare focus, combined with the strength of the Fifth Third team, will bring added value to the market to help our clients achieve their objectives.”
The transaction is subject to regulatory approval and is expected to close in the first quarter of 2018.
About Fifth Third Capital Markets
Fifth Third Capital Markets seeks to provide value-added advice and financial risk solutions aimed to support the growth, profitability and capital needs of mid-sized and large corporate clients. Fifth Third Capital Market offerings include investment banking++, debt capital markets+, bond capital markets++, equity capital markets++, financial risk management+, and fixed income sales and trading++. The group has offices in Atlanta, Charlotte, North Carolina, Cincinnati, Chicago, Cleveland, Dallas, and Memphis and Nashville, Tennessee, providing services across a variety of industries such as large corporate; mid corporate; consumer and retail; energy; gaming lodging and leisure; healthcare; real estate; technology, media and telecom.
+ Services and activities offered through Fifth Third Bank
++ Services and activities offered through Fifth Third Securities, Inc.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of Dec. 31, 2017, the Company had $142 billion in assets and operated 1,154 full-service Banking Centers and 2,469 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to more than 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of Dec. 31, 2017, had $362 billion in assets under care, of which it managed $37 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC.
Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA/SIPC, a wholly owned subsidiary of Fifth Third Bank, a registered broker-dealer and a registered investment advisor registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Securities and investments offered through Fifth Third Securities, Inc. and insurance products:
|Are Not FDIC Insured||Offer No Bank Guarantee||May Lose Value|
Are Not Insured By Any Federal Government Agency
Are Not A Deposit
About Coker Capital Advisors
Coker Capital Advisors is a healthcare-focused investment bank offering mergers and acquisitions, capital raising, and other strategic advisory services to middle market healthcare companies. The firm serves clients across the United States from its offices in Atlanta, Charlotte, and New York. For more information, visit the firm’s website at www.cokercapital.com.