Janney Closes Acquisition of Middle Market Investment Bank TM Capital

PHILADELPHIA - Janney Montgomery Scott LLC, a leading full-service wealth management, capital markets, and asset management firm, has completed its acquisition of TM Capital, a premier middle market investment bank specializing in M&A advisory across the business services, industrials, healthcare, and consumer sectors. 

The acquisition adds 17 Managing Directors and nearly 50 employees to Janney across TM Capital’s Atlanta, Boston, and New York City offices. 

TM Capital will continue to operate under its brand with the team intact. Jim Grien and Jarrad Zalkin of TM Capital will co-lead the business, with Jim holding the additional title of Vice Chairman of Investment Banking. 

"We’re excited to officially welcome our new TM Capital team members to Janney. After having the opportunity to engage with the team further over the last several weeks, we’re even more confident that TM Capital’s strong reputation and experience will provide an immediate and complementary boost to our existing Investment Banking practice. We're also thrilled to have received regulatory approval and successfully closed the acquisition in less than 45 days,” said Joe Culley, Head of the Capital Markets Group.    

“Our partnership with Janney has been enthusiastically received by our clients, who recognize that we share similar core values, cultures, and a passion for serving our clients. As part of Janney, we dramatically enhance our ability to deliver clients an extraordinary suite of advisory and capital markets services. We’re very excited about our future together,” said Jim Grien, Vice Chairman of Investment Banking.

Watch a video conversation between Joe Culley and Jim Grien to hear more about what the partnership means for both firms.

Janney’s Capital Markets Group consists of more than 250 professionals who provide investment banking, equities, and fixed income expertise to corporate, institutional, and municipal clients. Janney has consistently ranked as one of the top middle-market capital markets firms in the U.S. and has completed 283 capital markets and M&A transactions aggregating $46.5 billion in value over the last three years.

TM Capital has completed over 80 M&A and private capital transactions from 2021-2023, aggregating more than $7 billion in value, and over 450 transactions since their founding in 1989.

Blank Rome and Sidley Austin acted as legal advisors to Janney in connection with the transaction. Houlihan Lokey acted as financial advisor and King & Spalding acted as legal advisor to TM Capital.

About Janney Montgomery Scott LLC

Janney is a leading full-service wealth management, capital markets, and asset management firm dedicated to putting client needs first. We are committed to providing individuals, families, businesses, and institutions with tailored financial advice to help reach their personal or business goals.  

We focus on building strong relationships, supported by a foundation of trust and performance. With a history of strength and stability, an ability to execute, and a culture of service and collaboration, we continue to deliver on our mission of offering the highest standard of success in financial relationships. 

Janney is a wholly-owned, independently operated subsidiary of The Penn Mutual Life Insurance Company, a member of the Financial Industry Regulatory Authority, the New York Stock Exchange, and Securities Investor Protection Corporation. Additional company information is available at www.janney.com.