A unit of SunTrust Banks (STI) in Atlanta has acquired an advisory firm that targets the oil and gas industry.
SunTrust Robinson Humphrey said in a press release Tuesday that it had bought Lantana Oil & Gas Partners in Houston. The deal closed Monday; the price was not disclosed.
Lantana provides advisory services that include initial consulting and valuation review to marketing and deal execution. The firm, founded in 2003, has advised on the sale of more than $2.5 billion of oil and gas properties in 14 states including Texas, Oklahoma, Louisiana and North Dakota.
"Energy is a major area of focus and an important source of growth for" SunTrust Robinson Humphrey, John Gregg, the investment bank's chairman, president and chief executive, said in the release. The Lantana acquisition "complements our universal investment banking platform in this vital industry. ... It also demonstrates our commitment to Texas and our intention to grow wholesale banking nationally."
Lantana will be rebranded as Lantana Energy Advisors, with its employees reporting to Gerry O'Meara, SunTrust Robinson Humphrey's head of M&A.
SunTrust Banks has assets of $179.3 billion.