Fifth Third Bancorp (Nasdaq: FITB) announced today that Fifth Third
Securities Inc. has agreed to acquire Coker Capital Advisors, a premier
M&A advisory services firm focused on middle-market healthcare companies.
“The addition of Coker Capital Advisors to our team builds upon the
strength of our Healthcare vertical, the largest at Fifth Third,” said
Lars Anderson, executive vice president and chief operating officer for
Fifth Third. “Additionally, it complements the capabilities of our M&A
team led by Bill Tyson, co-head of Capital Markets. With a shared
client-first culture, deep industry expertise and a strong focus on the
middle market, Coker Capital is a great strategic fit for our team.”
Joining Fifth Third offices in Atlanta, Charlotte and New York, Coker
Capital’s leadership will report to Rob Schipper, head of Investment
Banking. The addition expands the Investment Banking and M&A group to
more than 40 professionals, with experience advising a range of industry
sectors, including Consumer & Retail, Diversified Industrial, Downstream
Petroleum, Business & Technology-enabled Services and Healthcare.
Over the last decade, the Fifth Third Healthcare vertical has expanded
its presence and expertise to become one of the top healthcare banking
platforms to middle-market and corporate clients. It serves one of the
largest and fastest growing segments of the U.S. economy. Healthcare
spending is projected to reach $5.5 trillion by 2025, and it’s a sector
marked by significant change and transformation.
“Coker Capital Advisors’ concentrated expertise in the complex
healthcare industry will add significant value to our team through their
experience and results,” said Anderson.
The Coker leadership team has more than 100 years of combined healthcare
transaction experience and has executed transactions with an aggregate
value in excess of $65 billion. The company was founded in 2009 and is
led by Managing Directors Dan Davidson, James Heidbreder, Bo Hinton,
John Reiboldt and McNeill Wester.
“Joining the Fifth Third Securities team will enable us to extend our
reach and introduce enhanced capabilities to our clients,” said Coker
Capital’s partners in a joint statement. “Our exclusive healthcare
focus, combined with the strength of the Fifth Third team, will bring
added value to the market to help our clients achieve their objectives.”
The transaction is subject to regulatory approval and is expected to
close in the first quarter of 2018.
About Fifth Third Capital Markets
Fifth Third Capital Markets seeks to provide value-added advice and
financial risk solutions aimed to support the growth, profitability and
capital needs of mid-sized and large corporate clients. Fifth Third
Capital Market offerings include investment banking++, debt
capital markets+, bond capital markets++, equity
capital markets++, financial risk management+, and
fixed income sales and trading++. The group has offices in
Atlanta, Charlotte, North Carolina, Cincinnati, Chicago, Cleveland,
Dallas, and Memphis and Nashville, Tennessee, providing services across
a variety of industries such as large corporate; mid corporate; consumer
and retail; energy; gaming lodging and leisure; healthcare; real estate;
technology, media and telecom.
+ Services and activities offered through Fifth Third Bank
++
Services and activities offered through Fifth Third Securities, Inc.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. As of Dec. 31, 2017, the Company had
$142 billion in assets and operated 1,154 full-service Banking Centers
and 2,469 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North
Carolina. In total, Fifth Third provides its customers with access to
more than 54,000 fee-free ATMs across the United States. Fifth Third
operates four main businesses: Commercial Banking, Branch Banking,
Consumer Lending and Wealth & Asset Management. Fifth Third is among the
largest money managers in the Midwest and, as of Dec. 31, 2017, had $362
billion in assets under care, of which it managed $37 billion for
individuals, corporations and not-for-profit organizations through its
Trust and Registered Investment Advisory businesses. Investor
information and press
releases can be viewed at www.53.com.
Fifth Third’s common stock is traded on the Nasdaq® Global Select Market
under the symbol “FITB.” Fifth Third Bank was established in 1858.
Member FDIC.
Fifth Third Securities is the trade name used by Fifth Third Securities,
Inc., member FINRA/SIPC,
a wholly owned subsidiary of Fifth Third Bank, a registered
broker-dealer and a registered investment advisor registered with the U.S.
Securities and Exchange Commission. Registration does not imply a
certain level of skill or training. Securities and investments offered
through Fifth Third Securities, Inc. and insurance products:
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Are Not FDIC Insured
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Offer No Bank Guarantee
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May Lose Value
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Are Not Insured By Any Federal Government
Agency
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Are Not A Deposit
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About Coker Capital Advisors
Coker Capital Advisors is a healthcare-focused investment bank offering
mergers and acquisitions, capital raising, and other strategic advisory
services to middle market healthcare companies. The firm serves clients
across the United States from its offices in Atlanta, Charlotte, and New
York. For more information, visit the firm’s website at www.cokercapital.com.
Fifth Third Bancorp
Media
Shandi Huber, 513-534-NEWS
Shandi.huber@53.com
or
Investors
Sameer Gokhale
Sameer.gokhale@53.com