Piper Sandler Companies to acquire Aviditi Advisors to enhance private capital advisory services

Piper Sandler Companies (NYSE: PIPR), a prominent investment banking firm, has announced a definitive agreement to acquire Aviditi Advisors, a leading alternative investment bank. This acquisition is set to significantly bolster Piper Sandler’s capabilities in private capital advisory, aligning with its strategic expansion goals.

Details of the Acquisition

Under the terms of the agreement, Aviditi Advisors will be integrated into Piper Sandler, forming its private capital advisory group. This move will add a robust team of approximately 50 professionals, including ten managing directors, across North America and Europe to Piper Sandler’s investment banking platform. The acquisition is expected to close in the late third quarter of 2024, subject to regulatory approvals and customary closing conditions.

Piper Sandler announces the strategic acquisition of Aviditi Advisors, enhancing its private capital advisory services and expanding its global team.

Background and Expertise of Aviditi Advisors

Founded by Ryan Schlitt and John Robertshaw, who have extensive backgrounds in private capital advisory and asset management with firms like Credit Suisse Securities and Donaldson, Lufkin & Jenrette, Aviditi Advisors has quickly established itself as a premier provider of advisory services. The firm specializes in primary fundraising, innovative secondary solutions, and comprehensive capital markets solutions across various asset classes and structures. Since its inception in 2020, Aviditi has advised on over $30 billion of transactions.

Leadership and Future Directions

Post-acquisition, Ryan Schlitt will take on the role of head of private capital advisory, and John Robertshaw will serve as vice chairman of the private capital advisory group at Piper Sandler. “We are extremely excited to be joining the Piper Sandler platform. It represents the next chapter of growth for our firm and service capabilities,” said Ryan Schlitt, CEO and co-founder of Aviditi Advisors. He highlighted the firm’s focus on the full lifecycle of business engagements within the general partner and limited partner communities.

Comments from Piper Sandler Leadership

Mike Dillahunt, global co-head of investment banking at Piper Sandler, emphasized the complementary nature of the acquisition: “Ryan and John have built a tremendous team and business, one that is highly complementary to our leading, private equity-focused advisory platform. Fundraising, private capital markets, and secondary solutions, including continuation vehicles, are of central importance to financial sponsors. Aviditi provides these critical capabilities and increases the value of our combined platform to our single largest client base – private equity.”

Advisors and Legal Aspects

Piper Sandler was advised by Sullivan & Cromwell LLP, while Aviditi Advisors received counsel from Mayer Brown LLP and Keefe, Bruyette & Woods.

This strategic acquisition promises to enhance Piper Sandler’s service offerings in the private capital sector, providing comprehensive, innovative solutions that are expected to drive significant growth and client satisfaction in the coming years.