Liana Baker reports that Solomon Partners has hired senior industrial bankers Geoff Blythe and Gunter Frangenberg from Guggenheim Partners. Both started as partners in New York this month. Blythe, who joined Guggenheim in 2015, will chair the industrials practice.
Frangenberg, at Guggenheim since 2016, will lead coverage of chemicals, specialty materials and life science tools and diagnostics. The pair previously worked together at Merrill Lynch. They resigned from Guggenheim in June.
Together they will further develop Solomon's coverage across diversified industrials, chemicals, specialty materials, water and filtration, life science tools and diagnostics and other industrial end markets. Solomon traditionally focuses on mid-cap deals in consumer, industrials and business services. The hires aim to bolster the firm's move into larger deals.
Both have experience advising large cap companies on M&A, including Merck KGaA's $11.3 billion acquisition of Bio-Techne Corp. announced in June. Blythe noted the profound impact of the AI revolution on industrials and healthcare. Frangenberg said he is following AI on the edge, including humanoid robots and automation.
In April, Natixis SA handed back control of Solomon Partners to its management after a decade.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing