Jefferies Buys Stake in Quarterdeck Investment Partners

The institutional brokerage firm and investment bank Jefferies & Company Inc. of Los Angeles has bought a 16 2/3 percent interest in Quarterdeck Investment Partners LLC, the companies announced March 21. The value of the investment was not disclosed.

Quarterdeck of Los Angeles is an investment bank that specializes in the defense, aerospace and information technology markets. Its clients have included Affiliated Computer Services Inc., Averstar Inc. and Lockheed Martin Corp.

With the investment, Jefferies, which is a large, publicly traded company, gains a seat on Quarterdeck's board. The investment is part of a strategic partnership between the two companies. Each will be able to offer a broader range of services to clients, the companies said.

"We are very impressed with the experience and quality of Quarterdeck personnel, as well as with the accomplishments in building a major presence in their focus industries," said Richard Handler, chief executive officer of Jefferies.

Jefferies will bring its expertise in raising capital and financial restructuring to Quarterdeck clients, he said.

"Quarterdeck's focused approach has led it to become a leading merger and acquisition adviser to the defense, aerospace and information technology industries," said Jon Kutler, chairman and CEO of Quarterdeck. "Through teaming with Jefferies, we look forward to expanding the capabilities we offer our growing global client base."