Evercore acquires MJC Associates
The deal at a glance
Evercore acquired MJC Associates for $2.0 million cash at closing, $1.0 million cash on each of three closing anniversaries, plus $3.0 million of contingently issuable restricted stock, a transaction completed in July 2010, structured as cash plus contingent restricted stock.
MJC Associates operates in Investment Banking - Commercial real estate advisory, is based in United States. Commercial real estate advisory boutique. The terms included $2.0 million cash payable at closing, $1.0 million cash on each of the three anniversary dates of closing, and $3.0 million of restricted stock contingently issuable based on minimum future revenues.
In April 2010, the Company entered into an agreement to acquire MJC Associates, a commercial real estate advisory boutique. The transaction was consummated on July 8, 2010.
Added commercial real estate advisory capability and client relationships to the Investment Banking segment. Goodwill of $6,183 thousand and intangible assets (client relationships and non-compete) recognized in the Investment Banking segment. Integrated into Evercore's Investment Banking segment
No advisory firms have been disclosed for this transaction.