ST. LOUIS, MO--(Marketwired - Jan 30, 2014) - Stifel Financial Corp. (NYSE: SF) today announced that it has entered into an agreement to acquire De La Rosa & Co., a California-based public finance investment banking boutique. The addition of the De La Rosa team is expected to further strengthen Stifel's position in a number of key underwriting markets in California. Based upon volume and number of issues in the State of California for 2013, the combined firms would rank as the #1 underwriter in the following categories: K-12, COP & Lease Revenue Bonds, Tax Increment, and Economic Development.
Substantially all of the senior leadership from De La Rosa has executed continuation agreements in support of the combination. Immediately following the close, the De La Rosa professionals will be integrated into the Stifel team. Terms of the transaction were not disclosed. Closing is expected to be in the first quarter of 2014.
"The addition of the De La Rosa team will further enhance our capabilities in California, which began with the acquisition of Stone & Youngberg in 2011. It is an impressive group, with an excellent reputation, in a market we are committed to serving," said Ronald J. Kruszewski, Chairman, President, and CEO of Stifel Financial Corp.
Ed De La Rosa, President and founder of De La Rosa Securities, commented, "We have known, competed with, and respected the individuals who make up the Stifel team for years. My partners and I each carefully evaluated this opportunity and believe that combining forces will allow us to better serve our clients throughout the Golden State. We are looking forward to joining the Stifel family."
Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel's broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Century Securities Associates, Inc. and through Stifel Nicolaus Europe Limited and Keefe, Bruyette & Woods Limited in the United Kingdom and Europe. The Company's broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank & Trust offers a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. offers trust and related services. To learn more about Stifel, please visit the Company's web site at www.stifel.com.
De La Rosa & Co. Information
De La Rosa & Co. a California-based public finance investment bank was founded in 1989 by Ed De La Rosa. The Company focuses on providing innovative financing solutions to California issuers that support the quality of life for all Californians. De La Rosa & Co. has investment banking and sales and trading offices in San Francisco and Los Angeles.
Cautionary Note Regarding Forward-Looking Statements
The information contained in this press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this release not dealing with historical results are forward-looking and are based on various assumptions. The forward-looking statements in this release are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Material factors and assumptions could cause actual results to differ materially from current expectations. The Company does not undertake to update forward- looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. The Company disclaims any intent or obligation to update these forward-looking statements.