Transaction supports the Company's commitment to expanding
its advisory capability and increases its European domain expertise
in the Technology and Healthcare sectors
TORONTO, Aug. 3, 2022 /PRNewswire/ -- Canaccord Genuity
Group Inc. (TSX: CF) (the "Company") is pleased to announce that
through its UK & Europe
capital markets business, Canaccord Genuity Limited, it has entered
into an asset purchase agreement to acquire the business of Results
International Group LLP ("Results"). Results is an independent
advisory firm headquartered in London,
UK, focused in the technology and healthcare sectors which
provides M&A and corporate finance services to entrepreneurs,
corporates, private equity firms and investors. Results has
executed more than 60 strategic advisory transactions in the past
three years. The transaction is expected to close in the current
fiscal quarter, subject to customary closing conditions.
This transaction complements recent investments by the Company
to expand its global Advisory business with the acquisitions of
Petsky Prunier (2019) and Sawaya Partners (2021) in the United States and expands its European
domain expertise in the Healthcare and Technology sectors.
"Since our initial investment to expand our advisory practice in
2019, we have meaningfully increased our relevance as a leading
independent midmarket advisory firm in North America and Europe, and this has contributed to our
stronger profitability," said Dan
Daviau, President & CEO of Canaccord Genuity Group Inc.
"Our acquisition of Results supports our strategy of increasing
contributions from our advisory segment and provides robust
European expertise in two of our core focus sectors, healthcare and
technology."
"With deeply established strength in the Technology and
Healthcare sectors, Results brings a strong complement to our
European advisory business," said Nick
Russell, Chief Executive Officer of Canaccord Genuity
Limited. "We are delighted to welcome the Results team and we
expect this combination will meaningfully strengthen our respective
businesses to create a combined practice that is substantially
greater than the sum of its parts."
To ensure a seamless transition for Results' clients and
employees, Managing Partner Julie Langley will become Head of
Technology and Healthcare Advisory for Canaccord Genuity UK &
Europe. All existing employees of
Results are expected to continue with Canaccord Genuity's UK &
Europe capital markets
business.
Julie Langley, Managing Partner
of Results, added: "For more than three decades the Results team
has been achieving outstanding results for our clients through a
combination of deep sector expertise, a relentless focus on client
service and an agile and collaborative approach. We are pleased to
have found a flexible and entrepreneurial partner in Canaccord
Genuity, where both the strategic and cultural fit are so strong.
We look forward to providing enhanced geographic reach, domain
expertise and service offering for our combined clients."
Hines Associates is acting as financial adviser and Squire
Patton Boggs is acting as legal adviser to Results in connection
with the transaction. Shearman and Sterling are providing legal
advice to Canaccord Genuity.
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STATEMENTS:
This press release may contain "forward-looking information" as
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could cause actual events or results to differ materially from the
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the financial services industry and the risks and uncertainties
discussed from time to time in the Company's interim condensed and
annual consolidated financial statements, its annual report and its
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the factors discussed in the sections entitled "Risk Management"
and "Risk Factors" in the AIF, which include market, liquidity,
credit, operational, legal and regulatory risks. Material factors
or assumptions that were used by the Company to develop the
forward-looking statements contained in this press release include,
but are not limited to, those set out in the most recent Outlook
section in its annual and quarterly MD&As and those discussed
from time to time in the Company's interim condensed and annual
consolidated financial statements, its annual report and its AIF
filed on www.sedar.com. The preceding list of material factors and
assumptions is not exhaustive of all possible risk factors that may
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Although the forward-looking statements contained in this press
release are based upon assumptions that management believes are
reasonable, there can be no assurance that actual results will be
consistent with these forward-looking statements. The
forward-looking statements contained in this press release are made
as of the date of this press release and should not be relied upon
as representing the Company's views as of any date subsequent to
the date of this press release. Except as may be required by
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disclaims, any obligation to update or revise any forward-looking
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ABOUT CANACCORD GENUITY GROUP
INC.
Through its principal subsidiaries, Canaccord Genuity Group Inc.
(the "Company") is a leading independent, full-service financial
services firm, with operations in two principal segments of the
securities industry: wealth management and capital markets. Since
its establishment in 1950, the Company has been driven by an
unwavering commitment to building lasting client relationships. We
achieve this by generating value for our individual, institutional
and corporate clients through comprehensive investment solutions,
brokerage services and investment banking services. The Company has
wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. The Company's international capital
markets division operates in North
America, UK & Europe,
Asia, Australia and the Middle East.
Canaccord Genuity Group Inc. is publicly traded under the symbol
CF on the TSX.
ABOUT CANACCORD GENUITY GLOBAL
CAPITAL MARKETS
Canaccord Genuity's global capital markets division offers
institutional and corporate clients idea-driven investment banking,
merger and acquisition, research, sales and trading services from
offices in North America, UK &
Europe, Asia, Australia and the Middle East. Our diverse team of capital
markets and advisory professionals has deep industry and
transactional expertise in key growth sectors of the global
economy. We are committed to providing valued services to our
clients throughout the entire lifecycle of their business and
operating as a gold standard independent investment bank –
expansive in resources and reach, but targeted in industry
expertise, market focus and individual client attention. We are
driven by your success. For more information, visit
www.cgf.com.
ABOUT RESULTS INTERNATIONAL GROUP
LLP
Results is a trusted M&A advisory firm which delivers great
outcomes for founders, business owners, investors and corporates in
the technology and healthcare sectors. Since its establishment in
1988, Results has built a diverse team of M&A advisory
specialists spanning 10 nationalities with expert financial
capabilities and deep domain expertise in midmarket technology and
healthcare. Based in London, UK
the team has cultivated strong international relationships with
corporates and investors across the healthcare and technology
sectors and provides a full-service advisory offering including
M&A, private equity and venture capital fundraising,
divestments, and licensing.
Investor and media relations inquiries: Christina
Marinoff, Vice President, Investor Relations &
Communications, Phone: 416-687-5507, Email:
cmarinoff@cgf.com, www.cgf.com/investor-relations