Cowen Group said it signed a definitive agreement to acquire Dahlman Rose & Co., an investment bank focused on global supply chain industries.
Dahlman Rose is a research-driven bank, whose “expertise in energy, transportation, metals and mining, chemicals and agriculture is a strong complement to Cowen core sectors of health care, technology, media, telecommunications, consumer, aerospace and defense/industrials and REITs,’’ said Peter Cohen, chairman and CEO of Cowen Group.
“Through this combination, Cowen will gain sector focus in new verticals which we believe will be active areas for capital raising over the foreseeable future,” Cohen said.
The all-stock transaction, whose terms were not disclosed, is slated to close at the end of 2013’s first quarter.
The agreement was approved by both Cowen Group and Dahlman Rose’s board of directors on Friday.
Cowen and Company markets sales and trading platforms to institutional investors. The New York-based Cowen Group, a diversified financial services firm, was first founded in 1918.
