With an eye on expanding its healthcare business, St. Louis-based investment bank Stifel Financial has agreed to acquire Torreya Partners, an M&A and private capital advisory firm specializing in life sciences.
The acquisition of Torreya adds 40 professionals in the healthcare sector and expands Stifel’s advising in royalty monetization and licensing agreements, a spokesperson for Stifel told Endpoints News. It will also grow Stifel’s presence in Europe.
“Without question, this partnership helps solidify Stifel’s leadership position across healthcare,” said Brad Raymond, Stifel’s global head of investment banking.
In 2022, Torreya advised on M&A for companies like Marksans Pharma, American Regent and Acerus Pharma, according to the company’s website. Marksans Pharma in October acquired Tevapharm India’s bulk pharmaceutical formulations business.
Torreya and its co-founder, Tim Opler, also publish regular reports on various aspects of the biopharma and life sciences market. Opler himself has been a part of major deals in the past two decades, according to the company website, including the largest Pfizer share buyback in history and Chiron’s $5.1 billion sale to Novartis.
Stifel is acquiring Torreya ahead of a hoped-for rebound of the M&A market in 2023 after a slow 2022. In its deals outlook report, PwC predicted that M&A in 2023 would “more closely resemble prior years with a total deal value in the $225 billion to $275 billion range across all subsectors.”
https://endpts.com/stifel-financial-swallows-life-sciences-investment-bank-torreya-partners/
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