Business owners often need objective and strategies advice on matters related to business development, acquisitions, or even selling the enterprise. In each instance, these considerations can represent one of the single largest financial decisions they will make. At Benjamin F. Edwards & Co., we understand that and are equipped with the tools, expertise, and perspective to help.

Investment BankingBenjamin F. Edwards & Co. offers M&A services, with an emphasis on selling middle-market companies. Without question, selling a business is complex, but our experienced team of highly accomplished bankers can manage the transaction from engagement to completion.

Our Team

Our team understands the process and the considerations involved, and are able to help our clients evaluate strategic alternatives, and plan and execute successful exit strategies. We also act as an independent, objective, and trusted business advisor to business owners, and can provide the perspective and guidance our business-owning clients need as they weigh their strategic goals and options.

  • Douglas D. “Doug” RubensteinExecutive Vice President, Chief Operating Officer and Director of Capital Markets

    At Benjamin F. Edwards & Co., Doug is chief operating officer where he oversees the alignment and prioritization of company initiatives, and leads Capital Markets initiatives for the firm which includes investment banking, new issue syndicate and trading. He is a member of the company’s management team and serves on the firm’s Executive Committee.

    Doug has sourced, led and participated in transactions totaling more than $50 billion over his 30 years of experience in investment banking. Before joining Benjamin F. Edwards & Co. in 2012, Doug served as the managing director and Real Estate Investment Banking Group head at Stifel Nicolaus Weisel. Doug led one of the real estate industry’s longest serving investment banking groups, which included more than 75 legacy REIT client relationships developed over his 18 years in the REIT industry.

    Previously, he worked in investment banking for over 25 years at A.G. Edwards managing a variety of transactions, including leveraged buyouts, mergers and acquisitions, fairness opinions, exclusive sales and entity level and joint venture private placements. Doug executed public and private senior, subordinated and convertible debt, convertible and preferred equity, and common stock transactions for investment grade and non-investment grade companies, as well as IPOs and 144A offerings. He developed custom and comprehensive marketing programs targeted to potential and existing domestic and international retail and institutional investors.

    As the managing director and Real Estate Investment Banking Group head at A.G. Edwards, Doug’s management responsibilities included the Strategy Committee, Debt Capital Markets Committee and Equity Capital Markets Committee.

    Doug currently serves as an independent director on the board of a publicly traded REIT.

    Doug received his M.B.A. at the John M. Olin School of Business at Washington University and his Bachelor of Arts degree, cum laude, in Economics from Lake Forest College. He holds FINRA Series 7, 24, 55, 63 and 79 securities licenses.

    Outside of work, he likes to spend time with his wife, Stacy, and their sons David and Michael. Doug has been quoted saying “life can be serious, but food, wine and traveling with friends is fun.”

    Learn more about Capital Markets

    Learn more about Investment Banking

    Executive Vice President, Chief Operating Officer and Director of Capital Markets
  • Shelby SchagrinManaging Director & Co-Group Head of Investment Banking

    Shelby has more than 30 years of investment banking experience with a focus on middle market companies and their owners. She has expertise in mergers and acquisitions, strategy, finance and business development.

    She has represented closely held business owners in the sale of their businesses and has created and structured many win-win transactions for middle-market business owners. She has advised companies in all aspects of corporate finance and strategic planning and has acted as a trusted business advisor to CEOs. Shelby has also assisted numerous companies across a wide spectrum of industries:  revitalizing operations, fostering growth and profitability, solving problems and identifying opportunities.

    Her career encompasses banking at Continental Bank in Chicago; investment banking, specializing in mergers and acquisitions at A.G. Edwards & Sons; vice president of Finance and Planning at Spartech Corporation and consulting as the president of Q.E.D. Consulting Group. In addition, she has experience as an entrepreneur and business owner. Shelby holds FINRA Series 79 and 63.

    Shelby has also taught finance at St. Louis University.

    Shelby is the founder, past president and current board member of the Spirit of St. Louis Women’s Fund which is devoted to improving the quality of life in the St. Louis area by providing financial support to urgent and critical needs throughout the community.

    Shelby received her MBA with high honors with a concentration in finance at the John M. Olin School of Business at Washington University. She holds a Bachelor of Arts from the University of Pennsylvania.

    Shelby is a freethinking Investment Banker that is always up for a new challenge, never gives up, is passionate to the end, goes the extra mile for clients and gets to the finish line.

    On a personal side, a few of her favorite things include family, meals from her organic vegetable garden, her Bernese Mountain trained support dog, Pilates and boxing. In addition, Shelby is passionate about community involvement, women in philanthropy and women entrepreneurs.

    Read Shelby’s recent blog posts

    Managing Director & Co-Group Head of Investment Banking
  • Kevin SullivanManaging Director & Co-Group Head of Investment Banking

    Kevin has more than 25 years of corporate finance experience, including extensive experience in mergers and acquisitions, equity and debt financing transactions for companies across a wide range of industries.

    Previously he was a managing director in the Middle Market Group of Wells Fargo Securities. In 2007, he established and led the St. Louis office of the firm, and was responsible for investment banking coverage in the Midwest and Southern regions as well for the Food & Agribusiness and Beverage specialty lending groups. In addition, he served as a managing director in the Mergers & Acquisitions Group at A. G. Edwards & Sons and a principal at Thomson Street Capital Partners. He also spent 13 years in leveraged lending at various St. Louis and Chicago banks.

    Kevin currently serves on the board of Loyola Academy of St. Louis.

    He holds a Bachelor of Science in Business Administration degree and Master of Business Administration degree from the John M. Olin School of Business at Washington University in St. Louis. He holds the FINRA Series 7 and 63 licenses.

    Kevin lives in St. Louis with his wife and two children.

    Managing Director & Co-Group Head of Investment Banking
  • Philip MetzgerVice President - Investment Banking

    Philip has more than 11 years of investment banking experience, including experience in mergers and acquisitions, equity raises and debt financing transactions for companies across a wide range of industries.

    He was previously a vice president in the Middle Market Group of Wells Fargo Securities where he worked on M&A transactions and capital raises. Previous to Wells Fargo Securities, Philip was an Assistant Vice President in the Public Finance Group at Piper Jaffray where he originated tax-exempt bond issuances for government clients.

    Philip earned a Bachelor of Science from University of Missouri and a Master of Business Administration from the John M. Olin School of Business at Washington University in St. Louis. He earned his CHARTERED FINANCIAL ANALYST® designation from the CFA Institute in 2007, and holds FINRA Series 7, 63 and 79 licenses.

    He lives in St. Louis with his wife and two children.

    Vice President - Investment Banking
  • Jackson SmithAnalyst

    Jackson performs financial analysis and modeling for the M&A group at BFE and also prepares marketing materials for M&A sell-sides. Jackson earned a Bachelor of Science with a major in Finance from Washington University in St. Louis.

    Analyst

Our Approach

Our investment banking team has faced many of the decisions our clients will be called upon to address, and we recognize their desired outcomes. Our approach is rooted in our understanding of entrepreneurship and the sense of obligation and responsibility that comes with it. As such, we believe it is essential to understand the unique circumstances and objectives of each client, and then structure each engagement to meet those needs. When we are retained to represent a company in the sale of a business, our banking professionals have one goal in mind – maximizing value for our client.

Our Services

Mergers and Acquisitions

Selling middle market companies – We manage transactions from the initial engagement to completion.

We are well-versed and have extensive experience in each key element of the selling process including:

  • In-depth understanding of clients and their objectives
  • Presenting the client profile
  • Targeting and approaching potential buyers
  • Communicating with potential buyers
  • Managing due diligence
  • Negotiating optimal terms and agreements
  • Closing the deal to maximize value

We’ve Been There, and We Can Help: As a seller of our own businesses, we are uniquely positioned to serve other business owners as an objective resource and sounding board. Our years of combined experience in investment banking, has shown us the importance of managing the ups and downs of each transaction. We maintain a calm, informed perspective throughout the process, while upholding strict confidentiality. We believe that selling a business requires solid technical skills, along with a creative and tenacious approach that delivers results.

Advisory

Our mission is to be an indispensable strategic and financial resource for business owners, and serve as a trusted partner as they address the organization’s most critical challenges, opportunities and decisions.

  • Strategic and financial alternative reviews
  • Independent, trusted advisor to business owners and CEOs: Planning is key to maximizing value for any business. So we advise business owners to prepare for the potential sale of their company — even if selling has never crossed their mind. After all, successful business owners understand that they could be approached to sell at any time. Or, suddenly and unexpectedly a key driver of the business changes. Regardless of the circumstance – a pleasant surprise, or an unexpected one – business owners need to be ready to ensure an optimal outcome is realized.
  • Advising on buying companies – We also serve as an advisor to companies seeking to make acquisitions. We understand that a company’s acquisition strategy can be an important aspect of the firm’s overall growth plan. We assist in developing a framework and approach for acquisitions, identifying potential targets, contacting prospects and negotiating transactions for buyers.