Primus Financial buys US broker Chapdelaine

Financial services-focused private equity firm Primus Financial buys US inter-dealer broker Chapdelaine & Company.

Private equity firm Primus Financial Holdings yesterday announced a deal to buy US inter-dealerbroker Chapdelaine Company.

Chapdelaine, also known as Chappy, bills itself as a municipal bond broker's broker. It currently has offices in New York, Chicago and Florida and employs approximately 200 professionals in the inter-dealer broker business, and in sales, research analysis and trading. No financial terms of the deal were disclosed.

Chapdelaine is closely held and still owned by the family who founded it in 1966. Primus Financial is acquiring a controlling interest in the firm and is also providing, or arranging, a substantial capital facility for the purpose of funding anticipated growth of the business the two firms said in...

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