Gardner, Underwood & Bacon Acquired

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Loop Capital Markets, considered the nation’s largest minority-owned investment bank and brokerage firm, on Tuesday said that it acquired Los Angeles financial advisory firm Gardner, Underwood & Bacon LLC.

Gardner, Underwood & Bacon specializes in advising municipalities and large utilities nationwide. Since 2002, it has served as a financial advisor on more than 250 transactions, totaling more than $30 billion, according to Chicago-based Loop Capital, which has nearly 20 offices around the country.

“Loop Capital Markets’ acquisition of Gardner, Underwood & Bacon will help increase our firm’s presence in Los Angeles and the state of California,” said Loop Capital Chief Executive Jim Reynolds Jr. in a statement. Financial terms of the deal were not disclosed.

Gardner, Underwood & Bacon’s principals and staff will honor existing contracts and eventually transition from financial advisory assignments to become part of Loop Capital’s public finance investment banking team, Loop Capital said.

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