US investment bank Stifel has added 50 dealmakers to its ranks in Europe through the acquisition of a boutique.

The bank has bought Acxit Capital Partners, a boutique investment bank focused on the mid-market, it said in a statement, giving it extra firepower on the continent as competition has heated up on smaller deals.

Acxit has a team of around 50 bankers based at offices in Frankfurt, Zurich and Munich and has been operating since 1999. It works across M&A, capital markets, debt advisory and restructuring.

The terms of the deal were not disclosed.

“Through this acquisition, we are extending our European footprint further into strategically important European markets, most notably Germany,” said Rob Mann, head of European investment banking at Stifel, in a statement announcing the deal.

READ Lincoln International’s new CEO on how he almost tripled M&A fees: ‘This year wasn’t just an anomaly’

Stifel already has around 180 staff across Europe and the UK.

While investment banks feasted on a record $130bn in fees last year as M&A activity hit new highs, deals in the mid-market have also become an important source of revenue with Goldman Sachs, Citi, JPMorgan and Bank of America all making fresh pushes into the sector.

Meanwhile, mid-market specialists William Blair, Lincoln International and Raymond James have all been on hiring sprees as fees have hit new highs. William Blair increased headcount in Europe by 45% last year, its head of investment banking in the region, Anu Sharma, told Financial News.

To contact the author of this story with feedback or news, email Paul Clarke

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