Investment banking boutique CFE Finance has announced it is to acquire 60% of the share capital of alternative investment boutique RiverRock.
The firm said that the deal will allow it to strengthen and expand its investment offering across the continent by diversifying its investment portfolio. Under the terms of the agreement, RiverRock will continue to specialise in providing alternative solutions to global investors and customised solutions to small and medium-sized companies in Europe.
Mario Cordoni, CEO of CFE Finance, said: “We are glad to have reached an agreement that is strategic for the growth of our business in Europe. Upon completion of the acquisition, we will immediately work with RiverRock’s management team to develop the best synergies and bolster our respective market positioning.”
Established in 2009, RiverRock offers a broad range of services including asset management, financial advisory, securities brokerage, and technology solutions. The company is headquartered in London, with further offices in Paris, Milan, Madrid, and Luxembourg.
The deal is still subject to approval by the UK’s Financial Conduct Authority.
Michel Péretié, CEO of RiverRock, said: “The entry of CFE Finance marks a new and inspiring chapter in successful RiverRock’s story. This transaction will further strengthen and expand our investment platform, now that traditional financing channels are not able to fully satisfy market demand.”
This is not the only acquisition, or partial acquisition, undertaken by CFE Finance this year. In July, the firm said its takeover bid on CIP Merchant Capital had successfully closed. That followed multiple investment last year in tech companies, namely NewCleo in October and Techstar SRL in November.