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Print Edition StoriesMonday, December 8, 2008
Revolution Partners acquired by Morgan Keegan
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Morgan Keegan & Co. Inc. has acquired Revolution Partners LLC, Tennessee-based Morgan Keegan announced today.
Revolution co-founders Peter Falvey and David Lavallee will continue to oversee business operations, which include seven managing directors and more than 30 investment banking professionals, the release stated. The Boston-based boutique investment bank also has offices in San Francisco and Los Angeles.
Not much will change in Revolution’s business, said Falvey, except that it plans to quickly pursue new senior-level hires in the areas of digital media, software and semiconductors. The Revolution brand will remain for “a few years,” he said. Revolution Partners specializes in mergers and acquisitions, and private capital fundraising services. It was founded in 2001. “We’ve been privately financed out of our own pockets,” Falvey said. “That has limited to a certain extent how much we’ve been able to grow.”
For Morgan Keegan, the acquisition provides an entry into the tech banking sector, said spokeswoman Kathy Ridley. “We did not have the depth and scope in the tech industry,” she said. Tennessee-based Morgan Keegan is the securities brokerage, trust and asset management arm of Regions Financial Corp. (NYSE: RF), an S&P 100 company that serves the South and Midwest regions, with $144 billion in assets under management.
In December 2007, Revolution Partners helped in the merger deal between Reef Point Systems Inc. of Billerica and Nextone Communications Inc. of Gaithersburg, Md., that resulted in the new firm NextPoint Networks Inc.
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