FBR & Co. to acquire MLV & Co. LLC
Arlington-based FBR & Co. announced Thursday that it has entered into an agreement to acquire New York-based MLV & Co. LLC. Financial terms of the deal were not disclosed.
MLV is an investment banking and brokerage firm focused on equity capital markets and a provider of At-the-Market (ATM) offerings. FBR provides investment banking, merger and
acquisition advisory, institutional brokerage, and research services through its subsidiary FBR Capital Markets & Co.
“MLV's leading market share in ATM execution and its client focused approach to providing corporate finance solutions are both strong complements to FBR's leading presence in initial equity placement and
institutional brokerage,” Richard J. Hendrix, FBR’S chairman and CEO, said in a statement.
FBR expects the acquisition to be immediately accretive to earnings.
The board of directors of both companies have approved the transaction. It is expected to close in the third quarter of 2015, subject to customary closing conditions and regulatory approval.