Commerce Bancshares in Kansas City, Mo., has agreed to buy boutique investment bank Nolan & Associates in St. Louis, Mo.
Nolan provides sell-side, buy-side and capital raise advisory services to business owners, private equity firms and corporations in industries that including building products, transportation, logistics, energy, healthcare, telecom, business services, manufacturing, distribution and agriculture.
Nolan will operate as a wholly owned subsidiary of Commerce Bank. The price wasn’t disclosed.
“We are expanding our ability to serve business owners through some of the most important decisions they will make — whether that’s growing, acquiring or transitioning their business,” Bob Holmes, chairman and CEO of Commerce Bank – St. Louis, said in the press release. “This strengthens our ability to deliver a more seamless, end-to-end experience for our clients.”
Commerce will also buy Middle-Market Transactions, a FINRA-regulated entity through which Nolan delivers advisory services.