Piper Sandler Companies, a leading investment bank, announced that it has entered into a definitive agreement to acquire TRS Advisors. TRS Advisors is an independent advisory firm focused on advising and executing restructurings, reorganizations and other complex financial transactions for public, private and governmental clients.

TRS Advisors was founded by 30-year veteran restructuring banker Todd R. Snyder. Before founding TRS, Snyder was executive vice chairman of Rothschild & Co. and co-head of the North American restructuring advisory business. Previously, he was a managing director in the restructuring and reorganization group at Peter J. Solomon Company. The team is comprised of 12 bankers including five managing directors. Following the acquisition, Todd Snyder will be named global head of restructuring.

“We are thrilled to partner with TRS Advisors and combine our strong investment banking relationships across multiple industry sectors with their expertise advising in complex matters,” said James Baker, global co-head of investment banking at Piper Sandler. “Todd and the TRS organization are among the most seasoned restructuring teams on Wall Street, having advised on some of the largest and most complicated assignments over the past 20 years.”

“Aligning our businesses is an exciting opportunity to combine the strength and breadth of Piper Sandler’s industry expertise and reach with TRS Advisors’ culture of professional and restructuring excellence,” said Todd Snyder, founder and CEO of TRS Advisors.

The transaction is expected to close in the fourth quarter of 2020 and is subject to customary closing conditions.

Piper Sandler was advised by Faegre Drinker Biddle & Reath LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to TRS Advisors in connection with the transaction.