Merger creates new firm, Mallon Capital
By Chelsie Woods
Updated Sun December 1, 2002
NEW YORK - Investment banking firm Mallon & Associates has joined up with Broadband Capital Holdings to create a new company called Mallon Capital LLC.
The deal, completed in November, combines the security expertise of Mallon & Associates with the investment banking infrastructure of Broadband Capital, a boutique investment bank that employs more than 20 people.
"We've been focusing on mergers and acquisitions and through our alliance now, we'll be able to work with them in conjunction with raising capital," said Jack Mallon, managing director of Mallon Capital.
As part of the joint venture, Mallon Capital relocated its offices to Broadband Capital's facility on Third Avenue in New York. By sharing facilities, Mallon Capital will now have resources for trading, research and marketing support.
Mallon Capital will focus on mergers and acquisitions and advisory and research services, while Broadband Capital will augment those activities and focus on raising funds.
Talks between the two companies began more than three months ago, said Mallon, as the firm looked to broaden its scope of offerings.
Mike Rapp, chairman of Broadband Capital, expects the alliance will bring more exposure and visibility to security companies, especially those under the radar screen of many institutional investors.
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