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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Pacific Growth Equities, LLC
  • Wedbush Morgan Securities Inc.
  • Securities and Investment Banking
  • January 12, 2009
  • N/A

Seller Details

Founded in 1991, Pacific Growth Equities is an investment bank specializing in and focused on emerging growth technology-based companies. With offices in San Francisco, Boston, and New York, the firm's principal areas of focus are within the life sciences and technology sectors as well as identifying special growth situations. Employee owned, Pacific Growth Equities offers a full range of investment banking and brokerage services including public equity offerings, private equity offerings, proprietary sell-side research, and M&A and strategic advisory services.

Buyer Details

Founded in 1955, Wedbush Morgan Securities is a leading financial services and investment firm that provides private and institutional brokerage, correspondent clearing, investment banking, equities research, public finance, fixed income sales and trading, and asset management to individual, institutional and issuing clients. Headquartered in Los Angeles, with over 80 sales offices and over 100 correspondent offices nationwide, Wedbush focuses on client financial safety, continuity, and advanced technology.

Transaction Summary

In its third acquisition in six months, Wedbush will acquire the business assets of Pacific Growth. The current leadership team of Pacific Growth, Richard Osgood, Chairman and Founder, Thomas J. Dietz Ph.D., Co-CEO, and Stephen Massocca, Co-CEO and Founder, will assume senior leadership roles at Wedbush, reporting to Gary Wedbush, EVP and Head of the Capital Markets Group. The acquisition of Pacific Growth is a strategic complement to the current capital markets capabilities of Wedbush, and augments the existing Wedbush technology and consumer practices by providing complete vertical coverage in emerging growth life sciences.
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