Investment Banking

With a relentless focus on the middle market, BB&T Capital Markets combines industry expertise with superior transaction execution capabilities to achieve extraordinary outcomes for our clients.  

Our investment banking professionals work in cohesive teams to bring you a full spectrum of financial services.  With BB&T Capital Markets you get a relationship-driven approach to providing the right solutions for your needs.  We offer a full range of investment banking services—equity originations; public and private placements of debt; asset securitizations; mergers and acquisitions—along with direct lending capabilities, nationally recognized equity research, and access to specialty services such as insurance, supply chain finance, equipment finance, executive wealth management and treasury management.

Our broad approach brings results. In 2012 alone, our 70-plus investment bankers, arrayed in industry-focused and transaction specialty teams, were able to bring our clients:

  • More than $15 billion in equity capital raised as managing underwriter
  • More than $45 billion in debt capital via public and private bond issuance
  • 28 M&A deals closed—among the more than 200 we have done since 2006


Our bankers can handle clients from any field, but we have particular expertise in these sectors: Aerospace, Defense & Government Services; Automotive Aftermarket; Commercial & Industrial; Retail & Consumer; Education & Cultural Facilities; Energy; Financial Services; Financial Sponsors; Food & Agribusiness; Healthcare; Logistics & Transportation; and Real Estate.

 

Our industry expertise and superior transaction execution—from equity and debt origination to M&A advisory to structured lending—makes us a powerful ally

  • Western Window Systems, LLC

    On July 31, 2015, WWS Acquisition, LLC (“Western Window Systems,” “Western," or the “Company”), a portfolio company of The Omnia Group, LLC (“Omnia”) and ORIX Mezzanine & Private Equity, was acquired by Perella Weinberg Partners Growth Equity (“PWP”). BB&T Capital Markets served as the exclusive financial advisor to Western.

    Read More
  • Builders FirstSource, Inc. (NASDAQ GS: BLDR)

    BB&T Capital Markets’ Commercial & Industrial Group completed a transaction for a leading building materials distributor in the third quarter of 2015, with an equity offering worth $176,640,000.

    On April 13, 2015, the Company announced the acquisition of ProBuild Holdings LLC, from Devonshire Investors in a deal worth $1.82 billion. The combined entity will be the largest U.S. building materials distribution company serving the professional segment, with estimated combined sales of more than $6 billion. The transaction is expected to close in the third quarter of 2015.

    The Company intends to use the net proceeds from this offering to fund, in part, the acquisition of ProBuild Holdings LLC. Warburg Pincus Private Equity L.P., a partial owner of the Company, also sold shares in the offering. The Company will not receive any net proceeds from shares sold by the selling shareholder. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 1,800,000 shares.

    

    Read More
  • WPX Energy, Inc. (NYSE:WPX)

    On July 17, 2015, BB&T Capital Markets served as a  co-manager for a $1 billion offering of senior notes by WPX Energy, Inc. The offering consisted of a $500 million tranche of 7.50 senior notes due 2020 and a $500 million tranche of 8.25% senior notes due 2023.


    The Company intends to use the net proceeds from the offering to fund, in part, its acquisition of RKI Exploration & Production LLC from First Reserve Corp.

    

    Read More
  • Digital Realty Trust, Inc. (NYSE: DLR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2015, helping to raise $714,000,000 for our client.

    The Company intends to use the net proceeds from this offering to repay its global revolving credit facility, and fund the Telx Acquisition. The Company has granted the underwriters a 30-day option to purchase an additional 1,570,000 shares at the public offering price to cover over-allotments, if any.

    

    Read More
  • WPX Energy Inc. (NYSE: WPX)

    BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration & production company in the third quarter of 2015, in an mandatory convertible preferred stock offering worth $350,000,000.

    The Company intends to use the net proceeds from the offering to fund, in part, its acquisition of RKI Exploration & Production LLC from First Reserve Corp. The Company has granted the underwriters a 30-day option to purchase an additional 1,050,000 shares at the public offering price to cover over-allotments, if any.

    The offering was made separately and concurrently with a common equity offering and a high-yield notes offering, for which BB&T Capital Markets also served as a co-manager for each.

    

    Read More
  • Blue Racer Midstream LLC/Blue Racer Finance Corp.

    On July 15, 2015, BB&T Capital Markets served as a  co-manager for a $300 million offering of 6.125% senior notes due 2022 by Blue Racer Midstream LLC/Blue Racer Finance Corp. The offering is an add-on to an earlier offering conducted by Blue Racer in November 2014.


    Proceeds from this offering are being used to repay borrowings outstanding under Blue Racer’s revolving credit facility, fund expansion projects, and for general corporate purposes.

    

    Read More
  • Radiant Logistics, Inc. (NYSE: RLGT)

    BB&T Capital Markets’ Logistics & Transportation Group completed a transaction for a global logistics and transportation provider in the third quarter of 2015, helping to raise over $51 million for our client.

    The Company intends to use the net proceeds from this offering for repayment of indebtedness under its revolving credit facility, as well as general corporate purposes. Total gross proceeds include the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 1,000,000 shares.

    

    Read More
  • WPX Energy Inc. (NYSE: WPX)

    BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration & production company in the third quarter of 2015, in an equity offering worth $303,000,000.

    The Company intends to use the net proceeds from the offering to fund, in part, its acquisition of RKI Exploration & Production LLC from First Reserve Corp.  The Company has granted the underwriters a 30-day option to purchase an additional 4,500,000 shares at the public offering price to cover over-allotments, if any.

    The offering was made separately and concurrently with a mandatory convertible preferred stock offering and a high-yield notes offering, for which BB&T Capital Markets also served as a co-manager for each.

    

    Read More
  • CVS Health Corporation (NYSE: CVS)

    On July 13, 2015, BB&T Capital Markets served as a  co-manager for a $15 billion six-tranche offering of senior notes by CVS Health Corporation. The offering consisted of $2.25 billion of 1.9% Notes due 2018; $2.75 billion of 2.8% Notes due 2020; $1.5 billion of 3.5% Notes due 2022; $3 billion of 3.875% Notes due 2025; $2 billion of 4.875% Notes due 2035; and $3.5 billion of 5.125% Notes due 2045. Proceeds from this offering are being used to finance CVS’ acquisition of Omnicare and Target’s pharmacy operations.

    

    Read More
  • Ventas Realty, L.P.

    On July 9, 2015, BB&T Capital Markets served as a  co-manager for a $500 million offering of senior notes by Ventas Realty, L.P. Proceeds from this offering are being used to for working capital and other general corporate purposes, including funding pending or future acquisitions and investments.

    

    Read More
  • Ashland Inc.

    On June 30, 2015, Niteo Products, LLC, a newly-formed affiliate of Highlander Partners, L.P., acquired Valvoline’s car care products assets from Ashland Inc. BB&T Capital Markets served as the exclusive financial advisor to Ashland Inc.

    

    Read More
  • Eck Supply Company

    On June 30, 2015, Eck Supply Company (“Eck Supply” or the “Company”), was acquired by Sonepar USA (“Sonepar”). Also, on June 26, 2015, the Lynchburg, Virginia, branch of Eck Supply was acquired by Electrical Equipment Company (“EECO”). BB&T Capital Markets served as the exclusive financial advisor to Eck Supply for both transactions.

    

    Read More
  • National Fuel Gas Company (NYSE: NFG)

    On June 22, 2015, BB&T Capital Markets served as a  co-manager for a $450 million offering of 5.20% senior notes due in 2025 by National Fuel Gas Company. Proceeds from the offering were used for general corporate purposes, including the reduction of short-term debt.

    This offering represents the first bond transaction by National Fuel Gas to which BB&T Capital Markets has been invited.

    

    Read More
  • Cisco Systems, Inc. (Nasdaq: CSCO)

    On June 10, 2015, BB&T Capital Markets served as a  co-manager for a $5 billion offering of floating and fixed-rate senior notes by Cisco Systems, Inc. The offering consisted of five tranches, with maturities varying from 2018 to 2025. Proceeds from the offering were used for general corporate purposes, including to return capital to shareholders pursuant to Cisco’s previously-announced capital allocation strategy through the repurchase of shares of its common stock and the payment of cash dividends.

    This offering represents the second bond transaction by Cisco Systems to which BB&T Capital Markets has been invited.

    

    Read More
  • Southern Company (NYSE: SO)

    On June 9, 2015, BB&T Capital Markets served as a  co-manager for a $600 million offering of 2.75% senior notes due 2020 by The Southern Company. The net proceeds from the sale of the Series 2015A Senior Notes will be used by the company to pay a portion of its outstanding short-term indebtedness, which aggregated approximately $765,000,000 as of June 8, 2015, and for other general corporate purposes, including investment by the company in its subsidiaries.

    

    Read More
  • 1-800 Radiator & A/C

    BB&T Capital Markets served as the exclusive financial advisor to 1-800 Radiator and A/C, the largest franchised automotive parts distributor in North America, in its sale to Driven Brands, a leader in automotive service franchising and the parent company of such leading franchise brands as MAACO® and Meineke Car Care Centers®. Driven Brands is a portfolio company of Roark Capital Group.


    “1-800 Radiator and A/C is a truly innovative platform in the automotive aftermarket,” said Rex Green, managing director in BB&T Capital Markets Automotive Aftermarket Group and head of Retail & Consumer investment banking. “The Company has transformed the aftermarket temperature control supply chain and as part of the Driven Brands family, we would expect it to continue to apply its advanced technology and business processes to other aftermarket products and services.”


    “Having known the Company and its management team for a number of years and witnessed its growth into a national distribution platform first-hand, we are looking forward to watching its next phase of growth as part of Driven Brands,” added Jonathan Carey, managing director and head of BB&T Capital Markets’ Automotive Aftermarket Group.


    The terms of the transaction are undisclosed.

    Read More
William E. HardySenior Managing DirectorHead of Debt Capital Markets804-649-3952 email Download My vCard View Bio
Jake SavageSenior Managing DirectorCo-Head Equity Investment Banking804-780-3230 email Download My vCard View Bio
William L. TysonSenior Managing DirectorCo-Head of Equity Investment Banking804-782-8774 email Download My vCard View Bio