Founded in 1991, Covington Associates is highly focused on its middle market client base, dedicated to offering the highest caliber of senior-level attention and committed to the delivery of straightforward, unbiased advice to each client.
Covington Associates was founded by Chris Covington. Having prior experience in running investment banking groups for Shearson American Express, Robertson Stephens, and Volpe & Covington, Chris decided to pursue a specialty investment banking model to provide advice intensive services to middle market clients. His founding principle is that his advice be honest and direct, even when that means advising a client not to do a transaction. He began by working on his own and a short time later added a few trusted partners, Tom Cibotti and Ben Dunn, to join him in sharing his vision for building a leading middle market boutique investment banking firm.
Traditionally, the firm had focused on healthcare and technology. In 2004, Covington broadened its horizons to include the consumer and industrial sectors. Steadily adding capacity, the firm expanded its industry expertise in 2005 to include business services as well. Together, the five managing directors share a passion for the deal process, collaborate frequently, and team up often to best offer expertise to Covington's clients.
The firm has grown into a leading specialty investment banking firm, averaging more than twenty transactions per year over the last few years. Transactions originate from former clients as well as new clients, and referrals from within the business community, both in New England and from around the country. Covington is active in area organizations such as the Association for Corporate Growth, Angel Healthcare, Financial Executives International, MassMEDIC, the National Association for Corporate Directors, and the Small Business Association of New England.
Covington Associates is pleased to have been recognized by several media outlets for our investment banking and advisory services.
The Boston Business Journal has ranked Covington Associates, based on the number of completed transactions, on its list of Most Active Local Investment Banks since 2001. In 2005, 2006, 2007, and 2008, Covington Associates was ranked the Top Local Investment Bank.
Covington Associates was named a finalist for Buyouts Magazine 2007 Middle Market Investment Bank of the Year.
In 2005, Covington Associates advised The Vermont Teddy Bear Company in its going private transaction by Mustang Capital which was recognized by Buyouts Magazine as the Public-to-Private Deal of the Year.
Covington Associates received the 2004 Frost & Sullivan Life Sciences and Healthcare Services Buyside Middle Market M & A Advisor of the Year Award in recognition of our longstanding relationship with Inverness Medical Innovations, and in conjunction with the company's acquisitions of Applied Biotech, Inc. and the certain rapid diagnostics assets of Abbott Laboratories. Covington has completed upwards of 30 transactions with Inverness Medical, a major global developer, manufacturer, and marketer of advanced pioneering consumer and professional medical diagnostic products.