Commerce Bank To Acquire Boutique Investment Banking Firm Nolan & Associates; Terms Not Disclosed

Nolan & Associates is a St.

Louis–based boutique investment banking firm with global reach that delivers specialized advisory services to middle-market clients, expanding the bank’s ability to support clients at critical points in their business cycle.

Nolan provides sell-side, buy-side, and capital raise advisory services to business owners, private equity firms, and corporations across a range of industries, including building products, transportation, logistics, energy, healthcare, telecom, business services, manufacturing, distribution, and agriculture.

Founded by Pat C.

Nolan in 1976, Nolan is a second-generation, family-owned business with deep Midwestern roots.

Over nearly five decades, the firm has built a strong reputation for steady leadership, long-term relationships, and trusted advice during critical business transitions.

Upon closing, Nolan will operate as a wholly owned subsidiary of Commerce Bank.

The two firms have built a relationship grounded in mutual trust and a shared commitment to client service, creating strong alignment leading to this transaction.

Commerce intends to retain Nolan’s employees and office, ensuring continuity for both clients and employees.

This acquisition adds differentiated investment banking capabilities to Commerce’s existing commercial and wealth platforms, enhancing the bank’s ability to support clients at pivotal moments in their business lifecycle.

By integrating Nolan’s investment banking experience, Commerce will provide clients with a more connected relationship—from building and scaling a business to transitioning ownership and managing personal wealth.

The acquisition also strengthens Commerce’s ability to attract, retain, and deepen relationships with commercial and wealth clients by broadening the solutions it offers.

For the Nolan team, joining Commerce provides access to a broader platform, including expanded client relationships, additional capital markets capabilities, and enhanced resources to support combined growth.

It also creates new opportunities for collaboration across Commerce’s commercial and wealth businesses, while preserving Nolan’s entrepreneurial culture and client-focused approach.

Nolan will also benefit from Commerce’s broader geographic footprint and strong market presence, creating additional opportunities to originate and advise on transactions while deepening relationships with business owners approaching key transition points.