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Move strengthens firm’s investment banking presence in the outdoor, active lifestyle industry
LAKE OSWEGO, Ore. – Dec. 8, 2010 – D.A. Davidson & Co. today announced that it has acquired Silver Steep Partners LLC, an investment banking firm specializing in the outdoor and active lifestyle industry. Silver Steep Partners, based in Seattle, is led by Nathan Pund and Robert Farinholt, two senior investment bankers with a strong track record of advising clients, having closed 16 deals in the outdoor and active lifestyle sector over the last few years. Pund and Farinholt will join D.A. Davidson’s existing office in Seattle.
Pund joins D.A. Davidson’s Investment Banking Group as a Managing Director. Prior to co-founding Silver Steep, he worked for RBC Capital Markets, Prudential Securities and Interstate/Johnson Lane. Pund has spent the majority of his career advising branded consumer products companies in an array of public equity, private placement, and mergers and acquisitions assignments generating more than $4 billion in transaction value.
“We are excited to join forces with D.A. Davidson,” Pund said. “The Davidson platform will provide us with the tools and infrastructure necessary to offer a more comprehensive set of products and services to our clients while still maintaining our unique industry focus.”
Farinholt joins D.A. Davidson’s Investment Banking Group as a Principal. Prior to co-founding Silver Steep, Farinholt held investment banking positions at RBC Capital Markets and J.P. Morgan. Over his career, Farinholt has advised companies on transactions totaling in excess of $2 billion in transaction value.
The acquisition of Silver Steep Partners enhances D.A. Davidson’s commitment to working with companies in the outdoor and active lifestyle industry. “Expanding our presence in this area is a top priority for us,” said Brad Gevurtz, Head of Investment Banking for D.A. Davidson & Co. “Silver Steep has built a strong reputation as an industry leader through its advisory assignments and its access to senior executives globally. We believe Nathan and Robert will greatly complement and enhance our active lifestyle effort.”
Terms of the transaction were not disclosed. Davis Wright Tremaine served as legal advisor to Silver Steep Partners.
About D.A. Davidson & Co.
Founded in 1935, D.A. Davidson & Co. has nearly $23 billion in client assets under management and serves clients nationwide from offices in 17 states. D.A. Davidson’s Investment Banking Group provides full-service underwriting and advisory services for mid-size and growing companies, including public offerings, mergers and acquisitions, and private placements. For more information, visit www.davidsoncompanies.com/ecm. D.A. Davidson is part of Davidson Companies, a financial services holding company that has nearly $29 billion in client assets under management.
About Silver Steep Partners LLC
Silver Steep Partners was founded in January 2005 to provide strategic and financial advice to specialty outdoor and active lifestyle companies. By maintaining a distinct industry focus, the firm has become a leader in advising outdoor and active lifestyle companies in major transactions including equity financings and mergers and acquisitions. The firm has completed 16 deals in the industry involving domestic and international companies such as Black Diamond Equipment, Helly Hansen, and Massif Mountain Gear.
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