GREENHILL & CO INC
greenhill.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 9, 2023. Its latest SEC filing is a SCHEDULE 13G from Feb 7, 2024.
10-Q for Q3 FY2023, filed Nov 9, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Advises companies and private equity firms, institutional investors and family offices, and governments on mergers and acquisitions, restructurings, and financing and capital-raising transactions.
10-K for FY2022, filed Feb 28, 2023Greenhill is a leading independent investment bank that provides financial and strategic advice on significant domestic and cross-border…View ↗
We provide comprehensive financial advisory services primarily in connection with mergers and acquisitions, divestitures, restructurings…View ↗
Mergers and Acquisitions. On merger and acquisition engagements, we provide a broad range of advice to global clients in relation to…View ↗
Financing Advisory and Restructuring. Our financing advisory and restructuring practice encompasses a wide range of advisory services. In…View ↗
Private Capital Advisory. We are one of the leading global financial advisors to pension funds, endowments, institutional investors and…View ↗
How Did They Make Money?
M&A clients pay transaction fees when a deal is announced or completed; financing and restructuring clients also pay as advice is provided. Private-capital fees come when fundraising commitments are secured or interests in alternative-asset funds are sold.
10-K for FY2022, filed Feb 28, 2023Our revenues are derived from both corporate advisory services related to mergers and acquisitions ("M&A"), financings and restructurings…View ↗
The Company generally recognizes revenues for mergers and acquisitions engagements at the earlier of the announcement date or transaction…View ↗
The Company recognizes revenues for financing advisory and restructuring engagements as the services are provided to the client, based on…View ↗
The Company recognizes revenues for private capital advisory fees when (1) the commitment of capital is secured (primary capital raising…View ↗
F-11 are earned from the client in accordance with terms of the engagement letter. Upfront fees and certain retainer fees are deferred…View ↗
$258.5M
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10-K for FY2022, filed Mar 1, 2023
$258.5M ↗
Who Were Their Customers?
Clients engage Greenhill through separately awarded and negotiated advisory mandates; its active engagement roster changes continually.
10-K for FY2022, filed Feb 28, 2023We operate in a highly competitive environment where there are no long-term contracted sources of revenue. Each revenue-generating…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2022 and turned 8 cents into free cash flow.
10-K for FY2022, filed Mar 1, 2023
$20.6MView ↗
10-K for FY2022, filed Mar 1, 2023
$3.3MView ↗
10-K for FY2022, filed Mar 1, 2023
$20.7MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q3 FY2023, filed Nov 10, 2023
−$28.1MView ↗
- ▼ Now a loss
- vs $14.2M in Q3 FY2022
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Dec 1, 2023
Mizuho completed its acquisition of Greenhill
Greenhill became a wholly owned Mizuho subsidiary, and its shares were converted into cash; NYSE trading was suspended.
Sources
8-K, filed Dec 1, 2023
Pursuant to the Merger Agreement, at the effective time of the Merger (the “Effective Time”), (i) each issued and outstanding share of…View ↗
Shrank. Revenue fell 27% in 4 years, from $352M in FY2018 to $258.5M in FY2022, about 7% a year.
M&A client base
The latest description adds financial sponsors to the named M&A clients, alongside company, government and institutional decision-makers.
10-K for FY2019, filed Mar 2, 2020 10-K for FY2022, filed Feb 28, 2023Mergers and Acquisitions. On merger and acquisition engagements, we provide a broad range of advice to global clients in relation to…View ↗
Mergers and Acquisitions. On merger and acquisition engagements, we provide a broad range of advice to global clients in relation to…View ↗
Who Did They Compete With?
Competes with Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs Group, JPMorgan Chase, Morgan Stanley, UBS, Evercore Partners, Jefferies Group, Lazard, Moelis, Perella Weinberg Partners, and PJT Partners
10-K for FY2022, filed Feb 28, 2023We believe our primary competitors consist of both large, diversified financial institutions such as Bank of America Corporation, Barclays…View ↗
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