French investment bank Rothschild & Co. SCA, through its global advisory team, agreed to acquire the U.K. business of U.S.-based Livingstone Partners LLC for an undisclosed sum, subject to regulatory approval.
The business provides M&A, debt and special situations advice to privately owned companies in the lower midmarket in the U.K. Rothschild will also get the 34 bankers working for the U.K. business. In July, Rothschild also agreed to buy a minority stake in U.K.-based brokerage company Redburn (Europe) Ltd.
The deal would allow Rothschild to enter the lower midmarket in the U.K., in addition to its existing activities in France. Meanwhile, Livingstone noted that it would continue to operate globally from other bases, including Beijing, Chicago and Madrid.