Europe: Stifel expands European advisory footprint in healthcare and technology with acquisition of Bryan Garnier

US-based full-service investment firm Stifel Financial has signed a definitive agreement to acquire Bryan, Garnier & Co, an independent full-service investment bank focused on European technology and healthcare companies.

Terms of the transaction were not disclosed.

Founded in 1996, Bryan Garnier’s product suite includes mergers & acquisitions advisory, private and public growth financing solutions and institutional sales & execution. With a team of approximately 200 employees, including 33 managing directors, Bryan Garnier is headquartered in Europe with offices in Paris, London, Amsterdam, Munich, Oslo, Stockholm, and New York.

Over the past 27 years, Bryan Garnier has solidified its position as a leading independent, growth-focused, full-service investment bank in Europe. In 2024, the firm completed more than 60 transactions in the European technology and healthcare sectors and recorded a 20% increase in deal volume.

“As a leading European middle market investment bank in the healthcare and technology verticals, Bryan Garnier represents an ideal partner,” said Ronald J Kruszewski, Stifel chairman and CEO. “Its culture and long-term history of providing clients with high quality advice in two of our largest investment banking growth verticals is highly complementary with Stifel’s business. This combination is a logical next step in the evolution of Stifel’s global advisory business.”

With nearly 10,000 professionals located across approximately 400 offices across the US, Europe, the Middle East, and Asia, Stifel is a leading M&A advisor and a premier capital markets firm. It has grown both organically and through acquisition, and is on pace to generate more than US$4.8bn in net revenue in 2024.

The merger with Stifel marks the start of a new phase of development for Bryan Garnier and Stifel in Europe.

“By integrating Stifel’s capabilities across advisory, private and public markets, and equity and debt solutions, Stifel and Bryan Garnier are offering unparalleled opportunities for clients, employees, and the European market as a whole,” said Olivier Garnier, co-founder and managing partner of Bryan Garnier.

Keefe, Bruyette & Woods acted as exclusive financial advisor and Bryan Cave Leighton Paisner acted as legal advisor to Stifel in the transaction. Houlihan Lokey acted as exclusive financial advisor and White & Case acted as legal advisor to Bryan Garnier.