Chicago, IL – September 26, 2007; City Capital Advisors, LLC, a Chicago middle market investment bank formed in 2006, announced today that Scott H. Lang has joined the firm as a partner and the firm’s fourth Managing Director. Lang is the former CEO and co-founder of Brown Gibbons Lang & Company, a Cleveland-Chicago investment bank that still bears his name.
“We are especially delighted to have an investment banker with Scott Lang’s impressive reputation, skills and track record in middle market deal-making join our team,” said Dick King, co-founder of City Capital. “Scott truly understands the value of partnering with our clients and giving them the time and attention needed to bring them the most favorable outcomes,” King added.
In 2006, Dick King and Mark Timmerman, the firm’s other co-founder, formed City Capital after nearly 20 year careers in investment banking at William Blair & Company. They were joined last fall by another senior M&A professional, Barry Craig, who spent most of his prior career with Bank of America Securities. “Our firm provides a particularly strong commitment to the middle market business community by devoting highly experienced senior investment bankers to manage each transaction from top to bottom” Timmerman added. “Scott Lang’s breadth of experience and hands-on approach make him the perfect addition to City Capital.”
In addition to originating and managing traditional merger and acquisition transactions, typically in the $50 million to $500 million value range, Lang will develop the firm’s new merchant banking affiliate, City Capital Investors, LLC, the vehicle through which City Capital’s principals co-invest their own capital alongside high net worth investors and private equity funds in M&A and private capital raising transactions. “City Capital’s unique advantage in this investment model,” noted Lang, “is its strong cadre of ‘Operating Directors’ – successful entrepreneurs who originate, advise on, and co-invest in the firm’s merchant banking transactions.” Each Operating Director helps the firm cover one or more industry sectors. Thus far, the firm has seven Operating Directors and has completed three merchant banking deals. City Capital plans to add several more Operating Directors in the future.
“The world of middle market investment banking is changing and moving ever faster,” observed Lang, “which makes it even more crucial to give each client the senior attention and expertise needed to get the best possible result out of the market. The four partners of City Capital have collectively completed more than 350 middle market transactions over their careers – including many high profile domestic and international M&A deals, leveraged recapitalizations, private and public capital raises, and financial restructurings. To have ‘All Star’ players like this working day to day and on your transaction, rather than staffing it primarily with younger bankers, is a distinct advantage for middle market clients. The value proposition here is truly unusual.”
Lang began his investment banking career in 1985, after leaving the Washington, D.C., law firm of Arnold & Porter, where he was a partner, to start up the investment banking arm of Rodman & Renshaw Capital Group, Inc., a regional Chicago-based securities brokerage firm. In 1995, he joined forces with a small Cleveland investment bank, and formed Brown Gibbons Lang & Company, expanding the firm’s operations to Chicago. Late last year, Lang sold back his interest in the firm after helping grow it into one of the leading independent middle market investment banks in the country. In 2002, Lang was named “Entrepreneur of the Year” by Ernst & Young accounting firm. In 2003, he was named “Middle Market Dealmaker of the Year” by The M&A Advisor, a leading industry publication. He is a graduate of Harvard College and Harvard Law School.
About City Capital Advisors, LLC
City Capital is a results oriented investment and merchant banking firm dedicated to delivering business owners optimal performance in capitalizing on the value of their companies. Client engagements are managed by experienced senior bankers who have built successful practices at renowned investment banks, but sought a more focused environment from which to advise their clients in a highly responsive manner. The firm’s advisory capabilities include mergers and acquisitions, leveraged recapitalization, private capital formation for growth/acquisitions/ownership transitions, financial restructurings, and originating and managing direct investments. The firm’s broad experience and longstanding relationships with strategic buyers and financial investors span a wide variety of industries and transaction structures, which enables City Capital to offer its clients unique and proprietary execution.