BB&T to acquire Windsor Group
- By William Welsh
- Nov 16, 2004
BB&T Capital Markets of Richmond, Va., will acquire middle-market investment bank Windsor Group LLC and affiliate Windsor Advisory Services LLC, the company announced today. Terms of the deal were not disclosed.
The acquisition of Reston, Va.-based Windsor Group will better position BB&T Capital Markets to provide integrated investment banking and financial services to the defense and government services industry, company officials said. The acquisition also will bolster the company's growing presence in the Washington metropolitan region, they said.
Windsor Group's staff of 17 investment bankers, including Rick Knop, founder, chairman and co-chief executive officer, and John Allen, co-chief executive officer, will join BB&T Capital Markets.
The BB&T Capital Markets Government Technology Services Group, led by John Hagan, will combine with Windsor Group to form the BB&T Capital Markets/Windsor Government Services Investment Banking Group. It will be managed by Allen, Hagan and Knop.
Windsor Group specializes in assisting public and private companies with merger and acquisition transactions ranging in value from $10 million to $1.2 billion. Its investment bankers have closed more than $7 billion in transactions in the past five years.
BB&T Capital Markets is a division of Scott & Stringfellow Inc. of Richmond, Va., which is a subsidiary of BB&T Corp., Winston-Salem, N.C. The company has 26,300 employees and $6.2 billion in annual revenue.
William Welsh is a freelance writer covering IT and defense technology.