Capstone Partners Announces Pending Sale to Huntington Bank

The pending transaction with Huntington will allow Capstone to accelerate strategic growth plans.

Boston, MA – Capstone Partners, a leading middle market investment banking firm, today announced formalized plans to super-charge the firm’s growth efforts with the recent signing of a definitive agreement to be acquired by Huntington Bancshares Incorporated (Nasdaq: HBAN), a $174 billion asset regional bank holding company headquartered in Columbus, Ohio.

Huntington is the perfect partner for Capstone, with complementary cultures focused on people and the community. Our combined capabilities will enhance Capstone’s full suite of products and services to private business owners and financial sponsors. We believe this combination puts us in a strong position to pursue continued market acceleration and deliver a superior experience for our clients, employees, and partners.

John FerraraCEO, Capstone Partners

“Twenty years ago, we founded Capstone Partners with the goal of building a middle market leader. It has been a long-term, value-build strategy with a 30+ year horizon. At each phase of our evolution, we have made aggressive moves ahead of our peers, and we are excited about heading into the next phase of growth with Huntington,” said John Ferrara, Capstone’s founder and CEO. “Huntington is the perfect partner for Capstone, with complementary cultures focused on people and the community. Our combined capabilities will enhance Capstone’s full suite of products and services to private business owners and financial sponsors. We believe this combination puts us in a strong position to pursue continued market acceleration and deliver a superior experience for our clients, employees, and partners.”

“This is an acceleration deal; not an exit for Capstone,” said Chief Operating Officer Paul Janson. “Huntington will allow us to continue to add depth in current geographies and sectors and expand coverage into new industries and products while maintaining our independence and the brand we’ve built over the past twenty years. Like us, they are a very client-service focused company, they share our passion and commitment to putting clients at the center of our universe, and they are strategically and financially supportive of our aggressive growth plans to become the number one investment bank in the U.S. Middle Market.”

The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, capital markets, and risk management products and services.

In addition to accelerating Capstone’s growth plans, through this transaction Huntington hopes to accelerate their positioning as a full-service corporate and investment bank serving the core middle market, delivering both strategic and industry expertise to the firms’ collective clients.

“The addition of investment banking and financial advisory services aligns with our Capital Markets strategic plan and better positions Huntington to serve the full range of needs of middle market clients within our footprint, as well as those we serve on an increasingly national basis,” said Scott Kleinman, co-president of Huntington Commercial Banking. “The combination of Huntington’s brand and capabilities alongside a premier middle market investment banking franchise with unique industry insights creates a differentiating experience for our clients.”

The transaction is expected to close in the second quarter of 2022, subject to receipt of required regulatory approval and satisfaction of customary closing conditions. Terms were not disclosed.

About Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $174 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,100 branches in 12 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

About Capstone Partners
Capstone Partners is one of the largest independently owned investment banking firms in the United States. For over 20 years, the firm has been a trusted advisor to leading middle market companies, offering a fully integrated range of expert investment banking and financial advisory services uniquely tailored to help owners, investors, and creditors through each stage of the company’s lifecycle. Capstone’s services include M&A advisory, debt and equity placement, corporate restructuring, special situations, valuation and fairness opinions, and financial advisory services. Headquartered in Boston, the firm has 175+ professionals in 12 offices across the U.S. With 12 dedicated industry groups, Capstone delivers sector-specific expertise through large, cross-functional teams on a global basis. For more information, visit www.capstonepartners.com.

For Media Inquiries Contact:
Rebecca Levesque
Director of Marketing, Capstone Partners
617-618-3319
rlevesque@capstonepartners.com

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