Stephens Inc. of Little Rock announced Monday that it has acquired Dallas-based Blackhill Partners' restructuring advisory business.
"We have experienced a strong appetite for restructuring expertise in our Stephens Europe Limited operation, and the addition of Blackhill better positions us to service the growing opportunity in the domestic market. With Blackhill’s highly-talented and proven team, this enhanced capability ensures that we are able to bring our clients an even broader set of advisory services," Brad Eichler, executive vice president and head of investment banking at Stephens, said in a news release.
Fourteen Blackhill employees, including managing directors Lance Gurley, Jeff Jones, Eric Scroggins and Joe Stone, will join Stephens' U.S. restructuring advisory practicea and operate from Stephens' Dallas office.
"One of the attractions of Stephens for Blackhill was the combination of Stephens' size and scope with its longstanding aversion to proprietary trading; this transaction will increase our global reach without limiting our agility," Stone said in a news release.