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Cowen Completes Acquisition of Global Financial Advice Firm

By Alex Padalka January 4, 2019

The broker-dealer and investment management firm Cowen Inc. has completed its acquisition of Quarton International AG, a global financial advice company serving the middle market, Cowen says.

As part of the deal, the terms of which the companies didn’t disclose, Quarton’s U.S. business will now operate under the Cowen brand name, while Quarton Europe will now run as “Quarton, a Cowen Company,” according to a press release from Cowen.

Cowen acquired Quarton International’s equity interests for an upfront $75 million, and has offered a contingent $40 million payable if Quarton achieves certain unnamed milestones, according to the press release. The two firms have also set up a retention bonus pool for Quarton’s employees, Cowen says.

For Cowen, which also has offices around the world, the acquisition of Quarton was a strategic move to expand its financial advice business and further diversify its income streams, according to the press release.

“Quarton’s substantial middle-market advisory business in Europe and the U.S., in combination with Cowen’s merger advisory and capital markets franchises, meaningfully scales our advisory business in a manner that will truly benefit our clients,” Jeffrey Solomon, Cowen’s CEO, says in the press release.

“The closing of this transaction is a significant step towards Cowen’s goal of growing our higher margin advisory business as well as diversifying our revenues by industry.”