Market News

Canaccord Genuity to Buy Sawaya Partners

Canaccord Genuity (TSE: CF) announced Tuesday it has signed a deal to acquire Sawaya Partners, a New-York based independent consumer-focused M&A advisory firm. Canaccord is an independent financial services firm offering brokerage and wealth management services. 

Momentum in Investment Banking and Advisory Segments 

Since its inception, the leaders of Sawaya Partners have established extensive and lasting relationships with companies and sponsors, which has enabled them to generate significant repeat engagements and revenue growth. 

This acquisition underscores Canaccord’s commitment to expanding its advisory capacity, and builds on its existing consumer practices while offering a strong intersection with CG’s key sectors of technology, media, healthcare. and sustainable development. 

The acquisition is expected to be completed at the end of the calendar year 2021, subject to customary closing conditions. 

CEO Commentary 

“We are excited to be building upon the success of our advisory practice with the high-quality team of professionals from Sawaya Partners and adding deep domain expertise and relationships in the consumer sector,” said Jeff Barlow, president of Canaccord Genuity Capital Markets (U.S.). “This transaction creates an opportunity to meaningfully enhance our service offering to our combined clients, and advantageously positions us to capitalize on attractive industry trends.” 

Wall Street’s Take

On December 20, TD Securities analyst Graham Ryding kept a Buy rating on CF while raising its price target to C$20 (from C$19). This implies 33.9% upside potential. 

Overall, analyst consensus is that CF is a Moderate Buy based on two Buys. The average Canaccord Genuity price target of C$20.01 implies 33.9% upside potential to current levels.   

Related News: 
Canaccord Genuity Acquires Punter Southall Wealth
Canadian Premier Signs Deal with Sun Life

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