CINCINNATI—Fifth Third Bancorp (Nasdaq: FITB) announced today that Fifth Third Acquisition Holdings, LLC., has agreed to acquire Hammond Hanlon Camp LLC (“H2C”), a premier strategic advisory and investment banking firm focused on hospitals, health systems, and related organizations.
“As Fifth Third continues to seek opportunities to build upon the strength of its healthcare team, the addition of H2C further deepens the value we provide to the industry,” said Kevin Lavender, executive vice president and head of Commercial Banking. “The healthcare industry is complex and dynamic. Given its concentrated expertise and its client-focused culture, we believe H2C is a great strategic fit for Fifth Third and its existing healthcare team.”
Founded in 2011, H2C has an emphasis on healthcare organizations with specialized expertise in the not-for-profit sector. Its core advisory services include mergers, acquisitions and divestitures, partnerships and strategic growth, capital markets and real estate investment banking.
With offices in Atlanta, Chicago, New York and San Diego, H2C leadership will report to Rob Schipper, head of Investment Banking. The addition expands Fifth Third’s Investment Banking and M&A group to more than 110 professionals, with experience advising a range of industry sectors, including consumer, diversified industrial, downstream petroleum, business and technology-enabled services, renewable energy and healthcare.
The announcement underscores Fifth Third’s commitment to develop a robust, best-in-class healthcare platform and builds upon Fifth Third’s acquisition of Coker Capital in 2018. Over the last decade, the Bank’s healthcare team has expanded its breadth and expertise to become one of the top platforms to middle-market and corporate clients. It serves one of the largest and fastest growing segments of the U.S. economy.
“The specialized capabilities brought by H2C strategically complement the healthcare team’s expertise,” added Lavender. “The combination will create an unparalleled offering to help healthcare organizations across the country achieve its goals.”
The H2C leadership team has more than 230 years of combined healthcare transaction experience and includes veteran healthcare investment bankers Michael Hammond, Bill Hanlon, PJ Camp, Thomas Barry, Rich Bayman and Victoria Poindexter.
“We are very excited to join forces with Fifth Third, and believe that together we will be ideally positioned with the breadth of capabilities and depth of expertise necessary to address the complex challenges facing our healthcare clients now and in the future,” said Bill Hanlon, principal and co-founder of H2C. “As our clients grow increasingly large and more sophisticated, combining with Fifth Third ensures that we have the resources and intellectual capital to meet our clients’ demand for forward-looking counsel and high-quality investment banking services.”
The transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2020. Alston & Bird LLP acted as legal advisor to Fifth Third. Houlihan Lokey acted as financial advisor and Winston & Strawn acted as legal advisor to H2C.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of September 30, 2020, Fifth Third had $202 billion in assets and operated 1,122 full-service banking centers and 2,414 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2020, had $422 billion in assets under care, of which it managed $53 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC. Credit and lending products are offered by Fifth Third Bank, National Association. Credit products are subject to credit review and approval and mutually acceptable documentation.