Capital One is set to acquire KippsDeSanto & Co.

Capital One has entered into an agreement to acquire Tysons-based KippsDeSanto & Co., an investment banking firm focused on serving growth-oriented aerospace, defense, government services and tech companies.

https://twitter.com/KippsDeSanto/status/1163796128984379393

KippsDeSanto published a press release stating it will be acquired by the large commercial bank for an undisclosed amount and following the acquisition, KippsDeSanto will become a subsidiary of Capital One. The 30-person firm will still operate under the KippsDeSanto name and its clients will have access to Capital One resources.

“Capital One and KippsDeSanto have a shared goal of providing clients with trusted advice and counsel enabled by deep industry expertise and a seamless client experience,” Steve Tulip, head of capital markets for Capital One Commercial Banking, said in a statement. “By bringing our teams together, we’ll be able to add scale and expertise to our growing M&A advisory group which will benefit clients in a wide variety of industries.”

KippsDeSanto supports its clients with middle-market mergers and acquisitions. According to the release, Capital One is a good fit because the large bank is a tech-savvy financial institution with a similar culture and business values.

The acquisition deal is expected to officially closed by the end of this quarter.