RBC closes Daniels deal

RBC Capital Markets, a corporate investment bank, completed its acquisition of Daniels & Associates, L.P. today. The merged companies will now operate under the name RBC Daniels.
Daniels & Associates is one of the nation’s most active mergers and acquisitions advisors to the cable, telecom, broadcast and Internet industries, the firm said. The company completed 27 mergers and acquisitions in the field in 2006, and when combined with deals in other sectors it closed a total of 71 deals with a combined value of $6.5 billion.
“I am very proud of the strong performance we had in the cable, telecom, media, and technology sectors in 2006,” said Brian Deevy, CEO of Daniels & Associates. “We are looking forward to combining that strength with access to the capital markets, a global distribution network and the balance sheet of one of the largest and most reputable banks in the world, RBC.” Deevy will serve as CEO of the acquired entity and Brad Busse will remain as president and COO.
“This deal gives us one of the strongest communications, media and entertainment investment banking teams on Wall Street,” said Peter de Vos, head of U.S. investment banking for RBC. “I’m very excited about the synergies in this transaction, and the benefits that we can deliver as one team to clients.”