Commerce Bank has completed its acquisition of Nolan & Associates, a St. Louis-based boutique investment banking firm that advises middle-market clients across the U.S. Financial terms of the transaction were not disclosed.
The acquisition expands Commerce Bank’s capabilities into investment banking and is intended to strengthen the bank’s ability to advise business owners on growth initiatives, acquisitions, capital raising and ownership transitions.
Nolan & Associates will retain its existing leadership team, employees and Brentwood, Missouri, office following the transaction, providing continuity for the firm’s clients and employees.
The transaction was completed through Commerce Bank’s acquisition of Middle Market Transactions, Inc. (MMTI), an affiliate of Nolan & Associates.
Nolan & Associates and MMTI were consolidated before the acquisition.
Following closing, MMTI is a wholly owned subsidiary of Commerce Bank and will continue conducting business under the Nolan & Associates name.
Commerce Bank said the combination adds investment banking expertise and allows it to provide middle-market companies and their owners with a broader mix of strategic and financial advisory capabilities.
Nolan & Associates’ existing relationships and investment banking experience are expected to complement Commerce Bank’s broader banking platform.
KEY QUOTES:
“We are pleased to welcome Nolan & Associates to Commerce. Nolan has built an outstanding reputation for trusted advice, deep industry knowledge and long-term client relationships. Their addition strengthens our ability to serve middle-market companies and business owners with a broader range of strategic and financial advisory services.”
Bob Holmes, Chairman and Chief Executive Officer of Commerce Bank – St. Louis
“Joining Commerce marks an exciting new chapter for our team. We have built our business on relationships, trust and long-term client success, and Commerce shares those values. We’re excited to collaborate with team members across the bank, strengthen relationships we’ve developed over decades, and introduce new clients to the broader capabilities Commerce brings to the market.”
Patrick Nolan, President of Nolan & Associates
