We are excited to report that current Atlas Merchant Capital portfolio company South Street Securities announced on March 6th they are to acquire Lebenthal Businesses.
About South Street Securities Holdings Inc.
South Street Securities Holdings Inc., through its wholly owned subsidiaries, is a leading provider of U.S. Treasury and Agency repo financing to Agency REITs, asset managers, banks, broker dealers and other capital market participants. The company is a broker-dealer and FICC member running a matched book portfolio that provides low cost financing for high-grade security positions and a source of secure short-term investment for money market funds, municipalities, GSEs, insurance companies, and other alternative deposit clients. South Street also provides other servicing, collateral management, technology, and administrative services for banks, broker dealers and other capital market participants. Further information is available at www.southstreetsecurities.com.
About Lebenthal Holdings, LLC
Lebenthal Holdings, LLC, is the venerable New York-based firm that provides a broad range asset management and capital markets products and services through its subsidiaries and affiliated companies. Lebenthal & Co. (Member FINRA/SIPC) is a leading woman-owned broker-dealer that conducts underwriting and capital markets activities. Lebenthal Asset Management (an SEC-registered Investment Advisor) manages domestic and global equity portfolios and taxable and tax-free fixed income portfolios. Lebenthal Family Office provides to clients cash management, bill pay, liability management, tax filing and other professional services. Further information about Lebenthal can be found at www.lebenthal.com.
The Boards of Directors of both South Street and Lebenthal have approved the agreement. The closing of the transaction is subject to customary closing conditions, including regulatory approval, and the parties expect the closing to occur by the third quarter of 2017.
About Atlas Merchant Capital.
Launched in 2014 with a deep and complimentary leadership team including Bob Diamond, former CEO of Barclays PLC, David Schamis, MD of J.C. Flowers, and Abigail May and Matthew Hansen, co-founders of Cerberus Europe. Atlas Merchant was set-up to take advantage of the opportunities existing within financial services. To-date the firm has invested through fund and co-investments to acquire and grow compelling businesses across the globe within the financial services and insurance sectors.