Capital One’s Commercial Bank announced Aug. 19 it’s buying investment banking firm KippsDeSanto & Co. in a deal slated to close late in the third quarter of 2019.
The Tysons Corner, Virginia-based firm serves aerospace, defense, government services and technology companies, and has national practice in merger and acquisition advisory services. The firm has advised on more than 200 transactions totaling over $15 billion in deal value since founded in 2007 by managing directors, Kevin DeSanto and Bob Kipps.
“All of KippsDeSanto’s 30 professionals are excited to support Capital One’s thrust into middle market M&A,” Kipps said. “With Capital One, a top 10 U.S. Commercial Bank, we found an innovative, technology savvy financial institution with a similar culture and business values. Moreover, we see enormous synergy and growth potential with their capital markets products, expanded private equity and corporate relationships and industry knowledge in aerospace and defense and other key verticals.”
DeSanto called the transaction “a natural next step” in KippsDeSanto’s growth plan.
“Beyond the M&A advice we currently offer, our clients will now have access to additional solutions offered by Capital One,” he said.
When the deal closes later this year, KippsDeSanto will become a wholly owned subsidiary of Capital One and maintain operations under the KippsDeSanto brand.
“Capital One and KippsDeSanto have a shared goal of providing clients with trusted advice and counsel enabled by deep industry expertise and a seamless client experience,” said Steve Tulip, head of capital markets for Capital One Commercial Banking. “By bringing our teams together, we’ll be able to add scale and expertise to our growing M&A advisory group which will benefit clients in a wide variety of industries.”