Greenhill & Co. agreed to acquire Cogent Partners, said Stephen Sloan, a managing director at Cogent.
Under the terms of the acquisition agreement, Greenhill will acquire 100% ownership of Cogent for total consideration of up to $97.6 million, with about 30% of the amount payable upon achievement of revenue targets.
The transaction is expected to close sometime in the first half of the year. Following completion, the combined firm’s advisory activities will operate under the name Greenhill Cogent.
Cogent has its principal office in Dallas, with additional locations in London, New York, San Francisco and Singapore. All eight of Cogent’s managing directors will become Greenhill managing directors, and all 38 employees, including the managing directors, will join Greenhill when the deal closes.
Cogent’s Dallas office will continue to operate while offices in London, New York, San Francisco and Singapore will be consolidated with Greenhill’s offices in those cities.