Macquarie cements natural resources coverage with acquisition

Australia's Macquarie Group said on Friday that it has entered an agreement to buy Calgary-headquartered global energy advisory firm Tristone Capital Global for up to C$131 million $120 million in cash and shares.

The acquisition is intended to enhance Macquarie's energy offering by combining Tristone's energy advisory and capital markets businesses and Macquarie's global resources activities.

Tristone has offices in Canada, the United States, the United Kingdom and Argentina. It provides corporate finance, mergers and acquisitions, equity capital markets, sales, trading and research services exclusively to the global energy sector. Tristone's clients include exploration and production companies, oilfield services and mid-stream companies, government entities, royalty trusts, limited partnerships and institutional investors worldwide.

Tristone's 170 employees...