Guggenheim Partners Expands Investment Banking Reach

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Guggenheim Partners has announced the hiring of a five-member senior investment banking team from Barclays that will focus on the retail, apparel and restaurant industries.

The addition broadens the reach of Guggenheim Securities' full-service investment banking efforts dedicated to the consumer retail sector.

Senior Managing Directors Andrew Taussig and Spencer Hart, and Managing Directors Matthew Pilla and Ken Harada, will be joining Guggenheim after working together at Credit Suisse First Boston, Lehman Brothers and subsequently Barclays upon its acquisition of Lehman Brothers' North American investment bank in 2008. Additionally, Ryan Mash, previously head of Retail M&A at Bank of America and Barclays, will be joining the team.

'We were impressed by the breadth and depth of the relationships that the team has developed over their years together, as well as their client list which has included many of America's premier corporate names', said Alan D. Schwartz, Executive Chairman of Guggenheim Partners and head of Guggenheim Securities. 'The group's reputation for exceptional client service and quality execution fits extremely well into our platform'.

Taussig added, 'After considering a number of potential homes for our team, we felt that Guggenheim was the best of all worlds: a combination of a unique and rapidly growing franchise, diverse client-friendly sources of capital and a focus on long-term relationships. Guggenheim's strategy is in line with the solutions-based, client-focused model that has been instrumental to our franchise over the years'.

Taussig joined The First Boston Corporation in 1982, and shortly thereafter founded the Retail Group. Clients of Taussig have included CVS Caremark, David's Bridal, Dollar General, Home Depot, J.C. Penney , Reebok, Staples, among many others. Noteworthy transactions include the $8 billion sale of Toys "R" Us, the $4 billion sale of Reebok to Adidas, the $7 billion sale of Dollar General, CVS' approximately $25 billion combination with Caremark Rx and $3 billion acquisition of Longs Drugs, Cerberus' $3 billion acquisition of New Albertsons Inc. from Supervalu, among others.

Hart joined CS First Boston in 1991, and concentrates on the retail, apparel and restaurant sectors, in which he has advised and lead managed over 100 transactions. Hart's clients have included companies such as DineEquity, Domino's, Dunkin' Brands, G-III Apparel, PVH, Sonic Corp., Yankee Candle, among others.

Mash brings nearly 20 years of investment banking experience and has focused on the retail sector for the majority of his career, having advised on more than 40 retail-related transactions. Mash has advised many important companies in the retail sector including Ascena Retail, AutoZone, Charming Shoppes, David's Bridal, G-III Apparel, Limited Brands, Tory Burch , among others.

Peter Comisar and Guggenheim's consumer/retail team have advised recently on a number of important transactions in the sector including the $1 billion sale of 99 Cents Only Stores to Ares, PacSun's minority stake sale to Golden Gate, Costco's $3.5 billion special dividend and commensurate debt financing and the $600 million announced sale of Hot Topic to Sycamore Partners.

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