Citizens Acquires Investment Banking Firm DH Capital

December 22, 2021

Willkie advised Citizens in its acquisition of DH Capital.

On December 15, Citizens Financial Group, Inc. announced the execution of a definitive agreement to purchase substantially all of the assets of DH Capital LLC, a private investment banking firm serving companies in the Internet infrastructure, software and next generation IT services, and communications sectors.

Under the terms of the agreement, Citizens’ wholly-owned subsidiary Citizens Capital Markets, Inc. will purchase substantially all of the assets of DH Capital LLC. Upon closing, DH Capital will operate as a division of Citizens Capital Markets, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $187 billion of assets.

DH Capital, headquartered in New York City with offices in Boulder, Colorado, has completed more than 200 merger and acquisition transactions totaling approximately $35 billion in value.

The Willkie team was led by partners Jared Fertman and Russell Leaf and associate Jeffrey Daniel, and included partner P. Georgia Bullitt, counsel Brant Brown, associate Matthew Haddadin and law clerk Neda Raeker.