Capital One successfully completed its acquisition of TripleTree, LLC (TripleTree), a leading investment banking advisory platform serving market-leading healthcare technology and services companies.

TripleTree has joined the Capital Markets group of Capital One Commercial Bank as a wholly owned subsidiary, operating under the current TripleTree brand and maintaining its offices in Minneapolis and New York. Capital One has extended offers to the entire TripleTree team (approximately 70 associates), who will continue to be based in Minneapolis and New York. In bringing these two teams together, Capital One and TripleTree will create a differentiated healthcare platform that extends Capital One’s full-service capital markets and corporate banking capabilities to include TripleTree’s M&A advisory and investment banking capabilities.

“By incorporating TripleTree’s M&A advisory and investment banking capabilities, we are very well-positioned to provide our healthcare clients with a broad array of financial and advisory solutions”, said Darren Alcus, Head of Capital One’s Corporate Bank.

“We are thrilled about the opportunity this combination creates for TripleTree and Capital One to serve our clients in even more meaningful ways, supporting the unique and important impact they make on this evolving healthcare industry,” said Justin Roth, Head of Investment Banking at TripleTree. He will continue to lead TripleTree as part of Capital One.
 
TripleTree has completed hundreds of transactions and has a long track record of successfully executing on some of the most transformational deals in healthcare, ranging from upper middle market to multi-billion-dollar transactions. Since 2019, TripleTree has advised on more than 80 healthcare transactions representing over $55 billion of total enterprise value and completed transactions with an average enterprise value of more than $700 million.

With this transaction’s close, the two businesses comprising TripleTree Holdings, LLC have become separate organizations. TTCP Management Services, LLC (TT Capital Partners) will continue as an independent, Minneapolis-based principal investor focused on healthcare technology and services, while TripleTree is joining the Capital Markets group of Capital One.

Arnold & Porter Kaye Scholer LLP acted as legal advisor to Capital One in connection with the transaction. Broadhaven Capital Partners acted as financial advisor to TripleTree, and Kirkland & Ellis LLP acted as its legal advisor.

Previously on ABL Advisor: Capital One to Acquire TripleTree, Growing Capital Markets Capabilities