Firm surpasses record 2012 performance as of the end of July
The Equity Capital Markets (ECM) business at Baird is on course for another record year in 2013, having already eclipsed last year’s record performance, the employee-owned international financial services firm announced today.
As of July 31, the ECM team had completed 80 equity offerings compared to 79 for all of 2012. Over the comparable 2012 period, Baird’s activity represents an increase of 108 percent in deal volume and 111 percent in dollar amount, which compares to growth of just 27 percent and 15 percent, respectively, for the industry as a whole. In addition, Baird significantly expanded its role as book-running manager, completing 22 bookrun offerings through July 31, compared to 19 for all of 2012. Revenue for the group was up 132 percent during the period compared to 25 percent for the industry, and was well ahead of the company’s previous record in 2012.
“There has been tremendous interest in raising new capital across the industries we serve,” said Peter Kies, co-head of Equity Capital Markets at Baird, who noted that the company’s equity activity to date has included 10 separate industry verticals. “Based on what we’re seeing in the market, we are hopeful that demand will stay strong through the second half of the year.”
Greg Ingram, who co-heads the Equity Capital Markets group with Kies, noted that March and June hit one-month records for new transactions for Baird, with 16 equity deals in each. “Our six-month IPO backlog is at the highest level we have seen since April of last year,” Ingram said.
Among the more notable transactions this year in which Baird has played a role are:
- Noodles $110.9 million initial public offering in June - Baird served as book-running manager
- Chuy’s $129.4 million January follow-on offering and $107.5 million April follow-on offering – Baird served as joint book-running manager on both
- Tile Shop’s $118.5 million follow-on offering in June – Baird served as joint book-running manager
- Armada Hoffler $218.5 million initial public offering in May – Baird served as lead book-running manager
- Berry Plastics’ $322.6 million April follow-on offering and its $373.1 million July follow-on offering – Baird served as co-bookrunning manager for both
- MRC Global’s $740.6 million follow-on offering in May – Baird served as co-bookrunning manager
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has approximately 2,800 associates serving the needs of individual, corporate, institutional and municipal clients. Baird had $105 billion in client assets on June 30, 2013. Committed to being a great place to work, Baird ranked No. 14 on FORTUNE’s 100 Best Companies to Work For in 2013 – its tenth consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s Web site at www.rwbaird.com.
Baird Public Relations