Skip to main content

Piper Jaffray to buy Seattle-based public finance firm for $21M

  • Author:
  • Updated:
    Original:

Piper Jaffray, an investment and asset management firm based in Minneapolis, has agreed to purchase Seattle-Northwest Securities Corporation for approximately $21 million, Twin Cities Business reports.

“This is a great combination for both firms,” Piper CEO Andrew Duff said in a news release. “A key part of our firm’s strategy is investing in our public finance business, and this represents a significant step forward in developing a national franchise for our business.”

“Joining forces with Piper Jaffray will allow us to build on Seattle-Northwest's strength and reputation in the Pacific Northwest,” added Karl Leaverton, CEO and president of Seattle-Northwest. "We believe there is a strong cultural fit between our firms, and our employees and clients will benefit from Piper Jaffray’s specialized products, deep inventory and strong capital base.”

Pending approvals, the transaction is expected to close in the second half of 2013.

Seattle-Northwest specializes in underwriting municipal securities, and its sales and trading division distributes bonds nationwide.

Next Up

Screen Shot 2022-01-17 at 9.39.38 PM

Jordan Greenway runs into Darcy Kuemper, sparks fight

Kuemper got knocked out of the game, leading to the brawl.

Kirill Kaprizov

MacKinnon's controversial goal helps Avalanche top Wild

Kirill Kaprizov's two goals were spoiled by a questionable call.

powell itasca jail jan 2022 resize

Attorney accused of sex assault misses hearing, DMs judge

He was arrested the next day after a warrant was issued,

lorie shaull vulcan snow park st paul winter carnival 2018

Winter Carnival: Get vaccinated or test negative before coming

Organizers are also reminding people to be mindful of the city's emergency regulations.

hospital, emergency room

Driver, 15 years old, hurt when car collides with SUV

The road was wet at the time, the State Patrol said.

Tyler Wahl

Minnesotans have the Badgers back in the national spotlight

Three of Wisconsin's four leading scorers are from Minnesota.

Francisco Liriano

Liriano retires: Remembering his meteoric rise as a rookie

There was no one better than Liriano from mid-May to late-July in 2006.

Related

Boston broadcaster buys Mpls.-based Public Radio International

Minneapolis-based Public Radio International (PRI) has a new owner. The smaller competitor to National Public Radio announced Thursday it has been sold to WGBH Boston. Although terms of the deal were not disclosed, PRI will still produce its programming and Alisa Miller will remain CEO. PRI was founded 28 years ago and is on 900 radio stations nationwide.