Commerce Bank, the primary subsidiary of Commerce Bancshares, has agreed to acquire St. Louis-based boutique investment banking firm Nolan & Associates. Terms of the transaction were not disclosed, and the deal remains subject to regulatory approval and customary closing conditions. As part of the deal, Commerce Bancshares will also acquire Middle-Market Transactions, Inc., a FINRA-regulated entity through which Nolan & Associates offers advisory services. Nolan & Associates provides sell-side, buy-side and capital raise advisory services to middle-market clients and will operate as a wholly owned subsidiary of Commerce Bank upon completion. The acquisition broadens Commerce Bancshares' ability to serve business owners at key transition points and supports its strategy of building a more diversified, relationship-driven revenue base with deeper advisory capabilities.
Commerce Bancshares IncCommerce Bancshares acquires Nolan & Associates, expanding advisory capabilities and diversifying revenue.
Barclays PLC
U.S. BancorpMiddle-Market Transactions, Inc. is being acquired as part of the deal.
Nolan & Associates is being acquired and will operate as a subsidiary.