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ButcherJoseph & Co. has promoted Rose Thompson to Chief Operating Officer and Rick Hennessey to Vice President. In her new role, Rose will oversee the performance, alignment and overall strategy for the investment bank, which specializes in M&A advisory services to provide highly customized solutions for middle market companies.
Rick will continue to serve in a leadership role in the firm’s deal execution efforts advising middle market companies on mergers and acquisitions, recapitalizations, corporate carve outs, capital raising, and leveraged ESOP buyout transactions. He earned his Bachelor of Business Administration, magna cum laude, from the Mendoza College of Business at the University of Notre Dame.
In addition to serving on the Board of Directors for ACG St. Louis, Rose is actively involved with the National Center for Employee Ownership (NCEO) and the ESOP Association, where she participates at annual conferences, webinars, and seminars across the U.S. She earned both her Master of Arts and Bachelor of Arts degrees in communication from Saint Louis University.
Nolan & Associates, an investment banking firm specializing in the middle market, announced that it recently advised Doximity on its acquisition of THMED. Doximity is the largest professional medical network for U.S. healthcare professionals, with more than 70% of U.S. doctors and 45% of all nurse practitioners and physician assistants as members. Doximity is venture-backed with Emergence Capital, InterWest, Morganthaler, Morgan Stanley and T.Rowe Price as investors. Doximity sought to enter the physician recruiting and locum tenens markets via acquisition. Nolan’s process delivered THMED, a leading healthcare staffing firm focused on permanent physician and locum tenens placements. THMED was a portfolio company of Waveland NCP Texas Ventures (WNCP), a partnership between New Capital Partners and Waveland Ventures.
Nolan & Associates, an investment banking firm specializing in the middle market, announced that it recently advised Tacony Corporation on the successful sale of its subsidiary company, Nancy’s Notions, to Missouri Quilt Company. Nolan’s competitive sale process delivered Missouri Star Quilt Company as the ideal buyer for Nancy’s Notions, uniting the two most powerful brands in the sewing and quilting space. Interestingly, Due to COVID-19, the buyer and seller never held a face-to-face meeting during the sale process. The deal team utilized video conferencing for conversations, due diligence and inventory inspections. The U.S. craft industry is estimated at $36 billion, with sewing and fabric ranking in the top 5 crafts at 11.3% total spend.
Anders CPAs + Advisors, one of the St. Louis region’s largest accounting firms, is expanding its reach in the banking industry with the acquisition of Cummings, Ristau & Associates, a south St. Louis County-based public accounting firm, effective June 30. With the addition of all 21 of Cummings Ristau’s employees, Anders’ staff will total 230 with revenue of about $41.5 million, officials said Monday. While Anders has served the broker/dealer and financial services industries since it was formed in 1965, acquiring Cummings Ristau allows Anders to add a new niche and expand its financial institution footprint. Cummings Ristau provides audit, tax, regulatory compliance and loan review services to banks and credit unions, among other services.
Bob Alvarez has been elevated to President and COO of Shapiro Metals, a St. Louis-based nationwide provider of scrap metal recycling services and full-scale sustainability programs to manufacturers across the country. He is the first person outside the Shapiro family to hold the title of President at the privately-owned company which is currently celebrating its 50th anniversary. Bob joined the company in 2015 as Vice President of Operations with a diverse background, having held management roles in Operations and HR, in addition to his deep experience in strategic and organizational leadership. He earned his Bachelor of Arts degree from Knox College, Galesburg, Ill.