Atlas Merchant Capital, an investor in the financial services sector, has made a strategic growth equity investment in Cascadia Capital, an independent middle-market investment bank.
The investment is intended to continue Cascadia’s geographic, product, team, multi-industry and sponsor coverage growth across the country. Cascadia offers its business and investor clients sub-sector guidance across a range of industries. The firm will look to hire more experienced bankers and create cohesive teams to enhance its existing sector expertise.
“Across the broader investment banking landscape, large Wall Street banks have become less entrepreneurial, less versatile, and more like utilities,” says Atlas Merchant Capital founding partner and CEO Bob Diamond. “This shift — coupled with the recent wave of consolidation — underscores the critical need for what Cascadia brings to the market as an innovative and flexible independent firm. We are proud to align our firm with this talented team.”
“This investment will enable us to further enhance our team to more broadly deliver our leading industry and product resources to the financial sponsor community,” says Cascadia managing director Scott Ames, head of the firm’s financial sponsor coverage practice. “We look forward to expanding these relationships while continuing to provide middle-market companies with the sector-focused guidance that has made Cascadia one of the most active independent advisors in the market.”
Perkins Coie provided legal counsel, and Houlihan Lokey served as Cascadia’s financial advisor in connection with the transaction.