F.N.B. Corp. has agreed to acquire Pittsburgh-based Raptor Partners, an independent investment banking firm that provides financial advisory services to public and private companies.
Raptor Partners specializes in mergers and acquisitions, corporate finance, valuation advisory and private capital raising. The deal is intended to support FNB’s strategy to grow and diversify non-interest income with enhanced capital markets capabilities.
“FNB has continually invested in its Capital Markets capabilities, which positions us as a trusted advisor for our clients and has driven a 137% increase in revenue over the past decade,” FNB CEO Vincent J. Delie Jr. said in a statement. “The addition of investment banking rounds out our offerings, enabling FNB to provide clients with advisory services throughout their entire business life cycle. We believe this is an opportune time to invest in FNB’s investment banking platform to advise our middle-market and large corporate clients given the scale of our company and the changing economic outlook.”
“We are excited to join with FNB to offer financial advisory services to new and existing clients,” said Raptor Partners Founder and President Craig Wolfanger. “Raptor Partners has completed hundreds of transactions with an aggregate value of nearly $40 billion across a variety of industries, bringing a wealth of knowledge, expertise and experience to FNB.”
Upon closing, Wolfanger will become managing director and head of investment banking at FNB. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.
