Palm Tree LLC (“Palm Tree”), a modern M&A advisor providing integrated investment banking, strategic finance, and transaction support services to middle market businesses, today announced that it has acquired Backbone Capital Advisors (“Backbone”), a middle market capital advisory firm. The Backbone team is joining Palm Tree’s capital markets group with Britt Terrell as a Managing Director, Head of Capital Markets. Terrell formerly led the debt capital markets effort at The Gores Group and will head up Palm Tree’s Capital Markets practice. He and his team bring more than 40 years of combined experience in middle market corporate finance to Palm Tree.
“Opportunistic platform and add-on deal activity have continued at a swift pace for our middle market clients. As we head into 2023 amidst continued challenges in the financing markets, we see a growing need to deliver a broader set of capital markets solutions to help business owners and private equity sponsors seize strategic opportunities,” said Pardis Nasseri, Founder, President and Managing Director of Palm Tree LLC. “Britt will be an invaluable asset to our capital markets team as we expand our capabilities to advise clients through every step of their transitions and transformations.”
After closing $2 billion in debt financings for middle market transactions at The Gores Group, Terrell founded Backbone Capital Advisors as a boutique investment bank specializing in private debt and equity capital raising. Backbone has helped clients secure more than $1 billion in debt and equity financings across North America and served as a trusted advisor to private equity firms, independent sponsors, business owners, operating executives, and other advisory professionals.
“Britt and his team bring a deep track record of success in creating sophisticated capital solutions for middle market businesses, including raising debt and equity for acquisitions, to finance growth, and securing capital to refinance companies facing headwinds,” said Stephen Rossi, Managing Director and co-founder of investment banking services at Palm Tree. “His experienced leadership will help us build out our capital markets expertise and pursue new opportunities as Palm Tree continues to expand the strategic services we provide to our clients.”
“Palm Tree’s growth trajectory is a testament to the team of talented professionals they have assembled to help clients execute on strategic buy- and sell-side events,” said Terrell. “I believe we will see significant need in 2023 for capital solutions to help drive enterprise growth in the middle market, and we are well positioned to support management teams and sponsors to secure the capital needed to execute their plans.”
Terrell is a member of the Association for Corporate Growth and is registered through FINRA as an investment banking representative (series 79 and 63). He holds a B.A. in Business Economics from University of California, Santa Barbara.
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Palm Tree is the modern M&A advisor. A hybrid of consulting, accounting advisory, and investment banking, the firm provides clients with comprehensive financial, transactional, and operational solutions. Born out of private equity, Palm Tree navigates the time-sensitive, demanding, and uncompromising rigors of M&A from the perspective of owners and investors, giving clients the advantage of experience and expertise across the full continuum of transactions, transitions, and transformations. Since its inception in 2010, Palm Tree collectively has advised on more than 300 transactions totaling more than $45 billion in value. Securities products and services are offered through Palm Tree Securities LLC, member of FINRA, SIPC.
More information in our corporate video, on PalmTreeLLC.com, and on LinkedIn.