Some of Wall Street's top boutique firms just landed a big payday

Two big-name deals announced on Monday will line the pockets of a number of boutique investment banks.

The luxury retailer Coach said in a statement that it agreed to buy Kate Spade for $US18.50 a share, for a total transaction value of $US2.4 billion. And Sinclair Broadcast Group confirmed that it has agreed to buy Tribune Media for about $US3.9 billion, or for $US43.50 per share.

The deals represent a big payday for a handful of boutique investment banks.

Two New York-based investment banks, Moelis & Company and Guggenheim Securities, worked with Tribune, while JPMorgan was Sinclair’s financial advisor in the acquisition deal.

It’s another win for Moelis & Company and Guggenheim. Moelis, a boutique investment bank, just announced its second record quarter in a row. The company said last month that it is now looking for top-tier talent to add to its roster.

Guggenheim recently advised Zeltiq on its $US2.5 billion sale to Allergan, a deal where Moelis was advising the buyer. It also advised Allergan on its $US2.9 billion deal for LifeCell in December and Verizon on the $US3.6 billion sale of 24 data centres to Equinix.

Coach’s financial advisor in its acquisition of Kate Spade was Evercore Group, a New York-based bank. Meanwhile, Kate Spade & Company’s financial advisor was Perella Weinberg Partners, another New York-based financial services firm.

Evercore earlier this year advised Takeda on a
$US5.2 billion deal for Ariad Pharmaceuticals. And Perella Weinberg has a strong run in recent weeks, working on Beckton Dickinson’s $US24 billion deal to acquire the medical technology company Bard, and advising Cardinal Health in a $US6.1 billion deal with Medtronic.

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