Cleveland-based KeyBanc Capital Markets has entered into a definitive agreement to acquire New York City-based Cain Brothers & Co., a healthcare focused investment banking and public finance firm.
The transaction, which requires regulatory approvals, will expand KeyBanc’s healthcare investment banking group.
“Key’s established, integrated corporate and investment banking platform will allow us to bring enhanced capabilities to our clients, further improving our value proposition,” Robert J. Fraiman Jr., president and CEO of Cain Brothers, said. “At the same time, we look forward to bringing our knowledge and capabilities to Key’s extensive healthcare services and provider client base.”
The transaction is expected to close in late 2017.
HENRY KOTULA 