Steve McLaughlin, a former senior investment banker at Goldman Sachs has launched Financial Technology Partners LLC, billed as the only investment banking firm focused exclusively on providing strategic and financial advisory services for the financial technology sector.
FT Partners is led by McLaughlin, as the firm's managing partner, and is comprised of a team of experienced investment bankers formerly with the financial technology, M&A and investment banking groups of Goldman Sachs, Credit Suisse First Boston, and Friedman Billings Ramsey.
The group was established in December, but celebrated its first M&A advisory transaction with the recent restructuring of Tradescape Corp, and the sale of three divisions to E*Trade for a potential maximum consideration of $280 million in stock. FT Partners initiated the transaction and has been retained to serve as lead strategic and financial advisor to Tradescape Corp. and its ECN, MarketXT.
"Our firm brings together a wealth of financial services and technology expertise to serve the unique investment banking needs of a very specific and highly underserved niche - the financial technology sector," says McLaughlin. "There are investment banking groups that focus on technology, and groups that focus on financial services, but no other firms combine the two disciplines to adequately serve financial technology companies."
He says that many private and midsize companies are seeking strategic merger and acquisition advice, private capital and financial restructuring, while more diversified companies are looking for acquisitions or divestitures to maintain their respective leadership positions.
"Currently, we are working on numerous strategic sale assignments," he adds.