18/06/2020 - News
Clearwater International strengthens global coverage with US collaboration
Leading mid-market advisory firm Clearwater International has today announced a strategic alliance with KeyBanc Capital Markets Inc. (KBCM), the corporate and investment banking arm of Cleveland-based KeyCorp (NYSE: KEY). This alliance solidifies a multi-year effort to enhance collaboration on cross-border M&A transactions and marks the next stage of growth for both mid-market companies.
The strategic partnership between Clearwater and KBCM will benefit Clearwater’s clients with on the ground knowledge of strategies of globally acquisitive US corporates and provide direct access to North American private equity (PE) who are actively targeting high growth European businesses. Local support from KBCM’s relationships and networks will support Clearwater’s clients’ expansion strategies into the US and will offer more diverse funding options from both debt and equity perspectives.
Clearwater’s rich and respected heritage in PE will be bolstered by KBCM’s relationships with the active PE market in the US
Both Clearwater and KBCM share a similar approach to the market highlighted by deep industry expertise, long-term client relationships and outstanding execution. Clearwater’s rich and respected heritage in PE will be bolstered by KBCM’s relationships with the active PE market in the US which completed over 5,000 deals in 2019 with an estimated deal value of €640bn in comparison to Europe which closed approximately 3,700 deals with an estimated deal value of €425bn.
Strong market dynamics between the US and Europe reinforces the alliance, with buyers from the US accounting for around 70% of inbound transactions in Europe in 2019 and reports suggesting an increase in cross-border activity between the US and Europe over the next few years.
Clearwater International’s 250 employees across 17 offices in Europe and China will provide KBCM access to a broader base of buyers and acquirers. KBCM brings more than 800 professionals across a national platform in six major industry sectors—including healthcare through the acquisition of Cain Brothers—to Clearwater’s global client base.
Today marks an important step in realising Clearwater’s ambitions to become the leading global mid-market advisory firm.
Michael Reeves, CEO, Clearwater International
“Today marks an important step in realising Clearwater’s ambitions to become the leading global mid-market advisory firm. This collaboration effort allows Clearwater enhanced access into North America and KBCM will be able to take full advantage of Clearwater’s integrated international industry groups and the many relationships we already have with strategic acquirers and investors around the world.”
Randy Paine, President of Key Institutional Bank, KeyCorp
“Partnering with Clearwater is an important next step in broadening KBCM’s M&A platform, providing enhanced access to corporate and private equity firms across Europe and Asia. This collaboration is a major step in the evolution of both businesses and will accelerate the opportunities for industry teams to support their clients’ ambitions.”