Piper Sandler Companies — Piper Jaffray Companies — Merger or Acquisition (April 2013)

5 slides from Piper Sandler Companies's merger presentation, Apr 17, 2013

Slide 1: Acquisition of Seattle-Northwest Securities
PIPER JAFFRAY COMPANIES Acquisition of Seattle-Northwest Securities April 17th 2013
Slide 2: Caution Regarding Forward-Looking Statements
CAUTION REGARDING FORWARD-LOOKING STATEMENTS This announcement contains forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. These forward-looking statements cover, among other things, th
Slide 3: Seattle-Northwest Profile
Seattle-Northwest Profile The leading middle market Public Finance firm in the Pacific Northwest region Top municipal underwriter in the Pacific Northwest Founded in 1970 with headquarters in Seattle and offices in Oregon, Idaho, Utah, California, and New York Business Lines: Public Finance and Fixe
Slide 4: Strategic Rationale
Strategic Rationale Represents a significant step in firm’s strategy to grow Public Finance into a national franchise Expands middle market distribution Good cultural fit Limited overlap Significant expansion of municipal underwriting and distribution resources in the Pacific Northwest Several oppor
Slide 5: Valuation
Valuation Transaction valued at $21 million in cash Upon closing the tangible book value of Seattle Northwest is estimated to be $13 million Transaction is expected to close in the third quarter of 2013 Accretive to EPS, Operating Margin and ROE in 2014 5