Wilmington, Del.-based PNC Bank NA agreed to acquire The Trout Group LLC, a New York-based advisory firm.
The financial terms of the deal were not disclosed. The deal is expected to close in late December.
Trout Group will merge with PNC Bank unit Solebury Communications upon merger completion. Solebury Communications will retain Trout Group's existing team.
The combined entity will operate as Solebury Trout Communications and will remain affiliated with Solebury Capital LLC. It will be jointly led by Trout Group founder and CEO Jonathan Fassberg and Solebury Communications co-CEOs Jeff Grossman and Lisa Wolford. Solebury Trout will have over 60 professionals with expertise in investor relations and sector-related communications.
PNC Bank, a unit of PNC Bancorp Inc., has assets of $363.68 billion as of Sept. 30. PNC Financial Services Group Inc. is the ultimate parent of PNC Bank.
