Evercore Partners Inc. (NYSE:EVR) has entered into an agreement to acquire Kuna & Co, a move that seeks to increase the company’s deal-making capacity for commercial properties in Germany.
The company that was founded by Roger Altman also acts as a merger advisory firm. Evercore’s acquisition of Kuna will allow it to take up Kuna’s clientele, thus increasing the company’s scope of operation. Some of Kuna’s most admirable clients include Blackstone Group LP and Cerbus Capital Management.
The parent company that is based in New York announced that that it had plans for the acquisition, but it did not disclose the terms of the takeover. Kuna, $ Co, has a small team but regardless of that fact, the firm has handled over $27 billion in transactions. The organization was established by Walter Kuna, who is now the Senior Managing director at Evercore.
Evercore has been on a mission this year, to widen its reach in the European region by contracting major deal makers such as Anil Rachwani from JPMorgan Chase & Co. (NYSE:JPM). He is particularly reputable for his skills in the Technology market. The other deal maker is Thomas Massey, who used to work for Citigroup Inc (NYSE:C). In 2011, Evercore acquired Lexicon Partners, an organization based in the UK with an impressive portfolio of over 300 bankers.
The contract to acquire Kuna will supplement Evercore’s collection of major bankers in the technology, chemicals and debt advisory fields within Europe. Kuna was initiated in 2004 and has handled deals within the retail and industrial sectors. The company’s founder is a Doctorate holder from the Wolfgang Goethe University. He once worked at Lazard Germany.
Evercore Partners Inc. (NYSE:EVR)’s Chief Executive Officer, Ralph Schlosstein announced that his company was happy to have Walter and his team on board. He cited Kuna’s impressive performance and profitability as good indicators and good tools for E.vercore’s mission. The most attractive of the lot is Kuna’s ability to take up hefty and intricate transactions.