Sticking to its guns
When he launched ThinkEquity in 2001, Michael Moe
intended to create a bold firm devoted to finding companies with
massive growth potential. Moe stepped down as CEO in 2008,
but the firm still appears to be adhering to its founding
principles, recently launching a new health care team, for example,
even though investment banks are leaving the biotech sector in
droves on account of liquidity concerns.
Five arms for growth
ThinkEquity has its sights set on five main sectors that
it believes are the most primed for growth: health care and life
sciences; technology (specifically software and semiconductors),
media and Internet; consumer and business services; and greentech
and emerging technologies. Each sector is broken down into
subcategories that further narrow the focus of what ThinkEquity
considers "up and coming."
ThinkEquity works with clients ranging from institutional
investors, corporate clients, venture capitalists, entrepreneurs
and financial sponsors. Its services include targeted
research, investment banking, wealth management and asset
management. In March 2007, ThinkEquity became a wholly owned
subsidiary of London stockbrokerage Panmure Gordon & Co.
Extending its mission statement to focus on growth sectors,
ThinkEquity has branched out its business to include one of the
fastest growing and most profitable areas of business available
today: managing the finances of high-net-worth clients. The
wealth management portion of ThinkEquity called ThinkWealth caters
exclusively to high-net-worth families, partnerships and nonprofit
organizations. ThinkWealth was launched in 2004 and covers a
wide range of services, including asset allocation, portfolio
construction, investment advisory services, consolidated reporting,
equity and fixed income trading, cash management, and hedging and
monetization of concentrated equity positions.
One special quality that ThinkEquity offers its high-net-worth
clients is a peer-to-peer networking forum called Visible
Path. Visible Path is a relationship capital management
platform that helps ThinkEquity's partners, staff, close advisors
and VIP clients to network with each other under the veil of
ThinkEquity went from being a boutique start-up to an
international multi-service operation when it was purchased by
Panmure Gordon Company in March 2007. Panmure was
attracted to ThinkEquity's meteoric growth over the six years it
had been in business, including its revenue jump from $12.2 million
in 2002 to $64 million in 2006. The buying price for the U.S.
firm was $62.3 million, plus $27 million for the assumption and
repayment of debt and liabilities.
The merger provided a powerful partner for ThinkEquity.
Panmure Gordon was established in 1876 and is one of the oldest
stockbrokers in London. As of the time of the merger, it had
a capitalization of $116 million ($229 million) and was the
stockbroker to approximately 85 companies. In the U.S., the
company will be known as ThinkEquity, a Panmure Gordon company, and
will assume the name of Panmure Gordon in the U.K. and