November 8, 2023
PHILADELPHIA–( BUSINESS WIRE )–Janney Montgomery Scott LLC, a leading full-service wealth management, capital markets, and asset management firm, announced today that it has agreed to acquire TM Capital, a premier middle market investment bank specializing in M&A advisory across the business services, industrials, healthcare, and consumer sectors. TM Capital has 17 managing directors and nearly 50 total employees with offices in Atlanta, Boston, and New York City. The acquisition continues the growth of Janney’s Capital Markets Group by building on the 2022 lift out of 21 professionals from Boenning & Scattergood and the addition of several senior bankers this past year. Additionally, the acquisition of TM Capital solidifies Janney as one of the largest investment banks in Atlanta, following the firm’s acquisition of FIG Partners in 2019. “We’re excited to welcome TM Capital to Janney. The tenured team brings nationally-recognized experience in complementary and additive business lines to our existing Investment Banking practice, including greatly expanding our private equity client base. Their strong reputation will be an immediate value add to our business,” said Joe Culley, Head of the Capital Markets Group at Janney. “We see a distinct opportunity to partner with boutique investment banking firms looking to scale, and we’ll continue pursuing acquisitions, lift outs, and strategic hires over the next several years.”
The transaction is subject to regulatory approval and anticipated to close by year-end. At closing, TM Capital will continue to operate under its brand with the team intact. James Grien and Jarrad Zalkin of TM Capital will co-lead the business with James holding the additional title of Vice Chairman of Investment Banking. Both will report to Matt Veneri, Head of Investment Banking. “We’re thrilled to join forces with Janney, a firm that shares our cornerstone values and vision. Janney brings us immediate scale and important resources to further enhance our client relationships. Together, we offer a more diverse set of products and services across a combined eight industry verticals in which we have proven domain expertise. We’re looking forward to exceeding expectations and achieving new levels of success as part of the Janney team,” said James Grien, President and CEO of TM Capital. “This acquisition showcases our strategic plan in action – two firms with shared values and similar cultures coming together to enhance their businesses and better serve their clients. The TM Capital team brings more than 325+ years of combined experience and a mutual standard of excellence. We couldn’t ask for a better partner,” said Matt Veneri, Head of Investment Banking at Janney. Janney’s Capital Markets Group consists of more than 200 professionals who provide investment banking, equities, and fixed income expertise to corporate, institutional, and municipal clients. Janney has consistently ranked as one of the top middle-market capital markets firms in the U.S. and has completed 283 capital markets and M&A transactions aggregating $46.5 billion in value over the last three years. TM Capital has completed nearly 60 M&A and private capital transactions from 2021-2022, aggregating $5.8 billion in value, and over 450 transactions since their founding in 1989. Blank Rome and Sidley Austin acted as legal advisors to Janney in connection with the transaction. Houlihan Lokey acted as financial advisor and King & Spalding acted as legal advisor to TM Capital. About Janney Montgomery Scott LLC
Janney is a leading full-service wealth management, capital markets, and asset management firm dedicated to putting client needs first. We are committed to providing individuals, families, businesses, and institutions with tailored financial advice to help reach their personal or business goals. We focus on building strong relationships, supported by a foundation of trust and performance. With a history of strength and stability, an ability to execute, and a culture of service and collaboration, we continue to deliver on our mission of offering the highest standard of success in financial relationships. Janney is a wholly-owned, independently operated subsidiary of The Penn Mutual Life Insurance Company, a member of the Financial Industry Regulatory Authority, the New York Stock Exchange, and Securities Investor Protection Corporation. Additional company information is available at  www.janney.com . About TM Capital
Founded in 1989, TM Capital is the client-first investment banking team advising industry-leading companies across North America and around the world. In everything we do, our professionals share a relentless commitment to engineering extraordinary outcomes with an unmatched standard of client care. Over the last three decades, we have completed over 450 transactions with a combined value of $30 billion. With offices in Atlanta, Boston and New York, our mission critical capabilities include: complex mergers and acquisitions; debt and equity financings; minority and majority recapitalizations; restructurings; and board advisory services. TM Capital is also a member of Oaklins, the world’s most experienced mid-market M&A advisor, with over 850 professionals and dedicated industry teams in more than 45 countries, having closed 1,700 transactions in the past five years. For more information, please visit  www.tmcapital.com .

Janney to Acquire TM Capital

November 8, 2023
Janney Montgomery Scott, a leading full-service wealth management, capital markets, and asset management firm, announced today that it has agreed to acquire TM Capital, a premier middle market investment bank specializing in M&A advisory across the business services, industrials, healthcare, and consumer sectors. TM Capital has 17 managing directors and nearly 50 total employees with offices in Atlanta, Boston, and New York City. The acquisition continues the growth of Janney’s Capital Markets Group by building on the 2022 lift out of 21 professionals from Boenning & Scattergood and the addition of several senior bankers this past year. Additionally, the acquisition of TM Capital solidifies Janney as one of the largest investment banks in Atlanta, following the firm’s acquisition of FIG Partners in 2019. “We’re excited to welcome TM Capital to Janney. The tenured team brings nationally-recognized experience in complementary and additive business lines to our existing Investment Banking practice, including greatly expanding our private equity client base. Their strong reputation will be an immediate value add to our business,” said Joe Culley, Head of the Capital Markets Group at Janney. “We see a distinct opportunity to partner with boutique investment banking firms looking to scale, and we’ll continue pursuing acquisitions, lift outs, and strategic hires over the next several years.”
The transaction is subject to regulatory approval and anticipated to close by year-end. At closing, TM Capital will continue to operate under its brand with the team intact. James Grien and Jarrad Zalkin of TM Capital will co-lead the business with James holding the additional title of Vice Chairman of Investment Banking. Both will report to Matt Veneri, Head of Investment Banking. “We’re thrilled to join forces with Janney, a firm that shares our cornerstone values and vision. Janney brings us immediate scale and important resources to further enhance our client relationships. Together, we offer a more diverse set of products and services across a combined eight industry verticals in which we have proven domain expertise. We’re looking forward to exceeding expectations and achieving new levels of success as part of the Janney team,” said James Grien, President and CEO of TM Capital. “This acquisition showcases our strategic plan in action – two firms with shared values and similar cultures coming together to enhance their businesses and better serve their clients. The TM Capital team brings more than 325+ years of combined experience and a mutual standard of excellence. We couldn’t ask for a better partner,” said Matt Veneri, Head of Investment Banking at Janney. Janney’s Capital Markets Group consists of more than 200 professionals who provide investment banking, equities, and fixed income expertise to corporate, institutional, and municipal clients. Janney has consistently ranked as one of the top middle-market capital markets firms in the U.S. and has completed 283 capital markets and M&A transactions aggregating $46.5 billion in value over the last three years. TM Capital has completed nearly 60 M&A and private capital transactions from 2021-2022, aggregating $5.8 billion in value, and over 450 transactions since their founding in 1989. Blank Rome and Sidley Austin acted as legal advisors to Janney in connection with the transaction. Houlihan Lokey acted as financial advisor and King & Spalding acted as legal advisor to TM Capital. About Janney Montgomery Scott LLC
Janney is a leading full-service wealth management, capital markets, and asset management firm dedicated to putting client needs first. We are committed to providing individuals, families, businesses, and institutions with tailored financial advice to help reach their personal or business goals. We focus on building strong relationships, supported by a foundation of trust and performance. With a history of strength and stability, an ability to execute, and a culture of service and collaboration, we continue to deliver on our mission of offering the highest standard of success in financial relationships. Janney is a wholly-owned, independently operated subsidiary of The Penn Mutual Life Insurance Company, a member of the Financial Industry Regulatory Authority, the New York Stock Exchange, and Securities Investor Protection Corporation. Additional company information is available at  www. www.janney.com . About TM Capital
Founded in 1989, TM Capital is the client-first investment banking team advising industry-leading companies across North America and around the world. In everything we do, our professionals share a relentless commitment to engineering extraordinary outcomes with an unmatched standard of client care. Over the last three decades, we have completed over 450 transactions with a combined value of $30 billion. With offices in Atlanta, Boston and New York, our mission critical capabilities include: complex mergers and acquisitions; debt and equity financings; minority and majority recapitalizations; restructurings; and board advisory services. TM Capital is also a member of Oaklins, the world’s most experienced mid-market M&A advisor, with over 850 professionals and dedicated industry teams in more than 45 countries, having closed 1,700 transactions in the past five years. For more information, please visit  www.tmcapital.com .

Janney Montgomery to Acquire TM Capital

News
AnaCap enters exclusivity for acquiring a majority stake in Market Pay, the payments provider to Carrefour Group
AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor, today announces that it has entered into exclusive negotiations for the purchase of a majority stake in Market Pay, an innovative end-to-end omnichannel payments platform operating in multiple countries, from the Carrefour Group (“Carrefour”) in a deal valued close to €300 million. The transaction is subject to the consultation of works council and to the usual closing conditions (including regulatory and antitrust approvals). The deal, expected to complete in H1 2021, would see Carrefour retaining a minority stake in what will be a working partnership to commercialise the offering outside Carrefour, diversify product lines and internationalise Market Pay. AnaCap’s proposed ownership would also see Market Pay remain the exclusive payments provider for the Carrefour Group going forward, whilst further diversifying its client base. Market Pay is a leading omnichannel provider of payment services, offering comprehensive one-stop-shop solutions for merchants and fintech companies. With a strong retail heritage, focus on end-customer experience, unified data platform and some of the best-in-class payment features, it is ideally positioned to help unlock real value for clients across all payment methods. Market Pay was created as the payment arm of the Carrefour Group in 2016, by an innovative group of intrapreneurs led by Frédéric Mazurier and Isabelle Clairac. Frédéric, Isabelle and their team will retain key leadership roles under AnaCap’s control, becoming shareholders alongside AnaCap and Carrefour. Market Pay increases in-store efficiency by reducing checkout time and improving customer experience. It helps boost merchant sales by providing customers with a wide range of payment methods. It supports e-commerce transition for Point of Sale (“PoS”) focused retailers and offers secured payment transactions by optimising payment tunnels and reducing fraud risk for merchants. Leveraging Market Pay’s robust platform and innovative offering, tried and tested with Carrefour Group as one of the largest and most complex retailers globally, AnaCap will therefore seek to institutionalize commercial efforts and support further investment in sales and marketing to maximize client reach, while also focusing on the partner distribution strategy. Market Pay has had strong, consistent growth for nearly 4 years. In 2019, Market Pay processed 1.3 billion acceptance transactions, managed a portfolio of 5 million cards and operated 45,000 terminals. In 2020, the pandemic reinforced and accelerated continuation of secular tailwinds in the payments sector of Market Pay’s target geographies, including the growth of non-cash transactions and further penetration of e-commerce more broadly. The transaction represents AnaCap’s first investment in the French payments ecosystem, following 8 acquisitions in the DACH region as part of a highly successful buy and build strategy centred around heidelpay, a German payments business that was sold to KKR last year. Nassim Cherchali, Partner for M&A at AnaCap, commented: “Market Pay is uniquely positioned at the heart of the deep, fragmented and rapidly developing European payments ecosystem, benefiting from the consumer shift from cash to card and offline to online. AnaCap is uniquely positioned to support the management team and internationalise into new markets across Europe, investing in and securing franchise growth while also implementing our best-in-class technology practices. AnaCap has great experience in the payments space and we are very excited to begin the next phase of growth with Market Pay.”
Frédéric Mazurier, Chairman at Market Pay, commented: “The Carrefour Group were keen to partner with a company that had a strong track record both in the payments sector and in growing fintech businesses internationally with innovative operational strategies. We believe that AnaCap represent the perfect choice to help us develop and explore new markets outside of the Carrefour Group and we look forward to, pending completion, an exciting new chapter for the company in 2021 and beyond.” 
For this transaction, AnaCap received financial advice from FIG Partners SAS and legal advice from Proskauer Rose LLP. Oct 30 2020

AnaCap enters exclusivity for acquiring a majority stake in Market Pay, the payments provider to Carrefour Group

Submitted by  on 30 October 2020
Mid-market buyout firm AnaCap Financial Partners has entered into exclusive negotiations with Carrefour Group for the purchase of a majority stake in Market Pay, an end-to-end omnichannel payments platform. The deal is valued at close to €300mn. The deal, expected to complete in H1 2021, would see Carrefour retaining a minority stake in what will be a working partnership to commercialise the offering outside Carrefour, diversify product lines and internationalise Market Pay. AnaCap’s proposed ownership would also see Market Pay remain the exclusive payments provider for the Carrefour Group going forward, whilst further diversifying its client base. The transaction is AnaCap’s first investment in the French payments ecosystem, following 8 acquisitions in the DACH region as part of a buy and build strategy centred around heidelpay, a German payments business that was sold to KKR last year. Nassim Cherchali, Partner for M&A at AnaCap, commented: “Market Pay is uniquely positioned at the heart of the deep, fragmented and rapidly developing European payments ecosystem, benefiting from the consumer shift from cash to card and offline to online. AnaCap is uniquely positioned to support the management team and internationalise into new markets across Europe, investing in and securing franchise growth while also implementing our best-in-class technology practices. AnaCap has great experience in the payments space and we are very excited to begin the next phase of growth with Market Pay.”
AnaCap received financial advice from FIG Partners SAS and legal advice from Proskauer Rose LLP. The transaction is subject to the consultation of works council and to the usual closing conditions (including regulatory and antitrust approvals).

AnaCap In Exclusive Talks With Carrefour Group For Majority Stake In Market Pay

Submitted
30/10/2020 - 10:45am
AnaCap Financial Partners (AnaCap), a specialist mid-market private equity investor, has entered into exclusive negotiations for the purchase of a majority stake in Market Pay, an innovative end-to-end omnichannel payments platform operating in multiple countries, from the Carrefour Group (Carrefour) in a deal valued close to EUR300 million. The transaction is subject to the consultation of works council and to the usual closing conditions (including regulatory and antitrust approvals). The deal, expected to complete in H1 2021, would see Carrefour retaining a minority stake in what will be a working partnership to commercialise the offering outside Carrefour, diversify product lines and internationalise Market Pay. AnaCap’s proposed ownership would also see Market Pay remain the exclusive payments provider for the Carrefour Group going forward, whilst further diversifying its client base. Market Pay is a leading omnichannel provider of payment services, offering comprehensive one-stop-shop solutions for merchants and fintech companies. With a strong retail heritage, focus on end-customer experience, unified data platform and some of the best-in-class payment features, it is ideally positioned to help unlock real value for clients across all payment methods. Market Pay was created as the payment arm of the Carrefour Group in 2016, by an innovative group of intrapreneurs led by Frédéric Mazurier and Isabelle Clairac. Frédéric, Isabelle and their team will retain key leadership roles under AnaCap’s control, becoming shareholders alongside AnaCap and Carrefour. Market Pay increases in-store efficiency by reducing checkout time and improving customer experience. It helps boost merchant sales by providing customers with a wide range of payment methods. It supports e-commerce transition for Point of Sale (PoS) focused retailers and offers secured payment transactions by optimising payment tunnels and reducing fraud risk for merchants. Leveraging Market Pay’s robust platform and innovative offering, tried and tested with Carrefour Group as one of the largest and most complex retailers globally, AnaCap will therefore seek to institutionalise commercial efforts and support further investment in sales and marketing to maximise client reach, while also focusing on the partner distribution strategy. Market Pay has had strong, consistent growth for nearly four years. In 2019, Market Pay processed 1.3 billion acceptance transactions, managed a portfolio of five million cards and operated 45,000 terminals. In 2020, the pandemic reinforced and accelerated continuation of secular tailwinds in the payments sector of Market Pay’s target geographies, including the growth of non-cash transactions and further penetration of e-commerce more broadly. The transaction represents AnaCap’s first investment in the French payments ecosystem, following 8 acquisitions in the DACH region as part of a highly successful buy and build strategy centred around heidelpay, a German payments business that was sold to KKR last year. Nassim Cherchali, Partner for M&A at AnaCap, says: “Market Pay is uniquely positioned at the heart of the deep, fragmented and rapidly developing European payments ecosystem, benefiting from the consumer shift from cash to card and offline to online. AnaCap is uniquely positioned to support the management team and internationalise into new markets across Europe, investing in and securing franchise growth while also implementing our best-in-class technology practices. AnaCap has great experience in the payments space and we are very excited to begin the next phase of growth with Market Pay.”
Frédéric Mazurier, Chairman at Market Pay, says: “The Carrefour Group were keen to partner with a company that had a strong track record both in the payments sector and in growing fintech businesses internationally with innovative operational strategies. We believe that AnaCap represent the perfect choice to help us develop and explore new markets outside of the Carrefour Group and we look forward to, pending completion, an exciting new chapter for the company in 2021 and beyond.” 
For this transaction, AnaCap received financial advice from FIG Partners SAS and legal advice from Proskauer Rose LLP. Tags

AnaCap to acquire majority stake in Market Pay in EUR300m deal

Deutsche Bank

Acquired

FIG Partners is an Atlanta-based investment banking and research firm focused on the community bank sector.

Name	Alexandre Morin
Work History	Deutsche Bank, and FPK
Title	Founder
Status	Current

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