M&A · Financials · State Commercial Banks
Raymond James to acquire TriState Capital Holdings, Inc.
Announced Oct 21, 2021 · Closed Jun 1, 2022
Deal value$1.10B
Premium42.7%To unaffected price
EV / Adj. EBITDA—
ConsiderationCash and stock
Transaction
- Acquirer
- Raymond James
- Target
- TriState Capital Holdings, Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Jun 1, 2022
Deal protections
- Break fee (target pays)
- $41.9M · 3.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Raymond James
- To the target
- Stephens
Sector context · Financials
- Comparable deals
- 56 in the prior 24 months
- Premium
- 42.7% vs. 35.9% sector median
- EV / Adj. EBITDA
- Sector median 21.6x
- Break fee
- 3.8% vs. 3.7% sector median
Timeline
- AnnouncedOct 21, 2021
- Proxy filedJan 25, 2022
- Definitive proxyJan 25, 2022
- Shareholder voteFeb 28, 2022
- ClosedJun 1, 2022