Capstone Partners LLC and Headwaters MB, LLC are pleased to announce that they have completed a strategic transaction whereby Capstone has acquired Headwaters to form Capstone Headwaters LLC. This combination unites two leading middle market investment banking firms into a single platform with 150 professionals, covering 16 dedicated industry groups, spanning 20 offices across the US, UK and Brazil. The transaction creates one of the largest independent investment banks in the United States with comprehensive vertical and product coverage for entrepreneurs, family-owned businesses, private equity sponsors and creditors