Lazard Ltd. announced that it has signed a definitive agreement to acquire mid-market investment bank Goldsmith Agio Helms & Lynner, LLC for a combination of cash and stock.

Terms of the agreement were not disclosed, and the transaction is subject to regulatory approval by the National Association of Securities Dealers, and other customary closing conditions.

Upon regulatory approval of the deal, Goldsmith Agio Helms will serve as the foundation for a new division of Lazard’s Financial Advisory business, providing services to mid-sized private companies as well as additional access to middle market acquisition opportunities for Lazard’s traditional advisory clients.

Approximately 90 professionals work for Goldsmith Agio Helms with offices in Minneapolis, Chicago, Los Angeles, New York and Shanghai. In addition to offering financial advice, enhancing liquidity and optimizing value for middle market companies through mergers and acquisitions, IPOs and recapitalizations, Lazard also will provide current clients with improved access to mid-sized private companies.

“The acquisition of Goldsmith Agio Helms will allow Lazard to extend our reach to the vibrant middle market for our existing client base,” said Kenneth Jacobs, CEO of Lazard North America. “The combination enables us to leverage Lazard’s industry sector expertise and relationships, geographic reach and corporate finance capabilities with Goldsmith Agio Helms’ middle market knowledge, access and geographic reach. Lazard’s middle market financial advisory business will bring us a strong growth platform that will benefit our clients and our firm.”

The formation of a mid-market business, through the acquisition of Goldsmith Agio Helms, reinforces Lazard’s strategy to expand its financial advisory business by industry and geography. Lazard also recently announced plans to acquire 50% of MBA, expanding its financial advisory business in Central and South America, and signed a joint cooperation agreement with Raiffeisen Investment, for mergers and acquisition advisory in Russia and Central and Eastern Europe.

“We are pursuing this transaction to enhance the resources and capabilities we bring to our clients,” said Jack Helms, chairman of Goldsmith Agio Helms. “Our middle market bankers will now have access to unparalleled industry expertise and relationships, integrated global reach, a full spectrum of creative financial products and services, and a best practice partnership with the most focused and accomplished financial advisory firm in the world.”

“In addition, we share many characteristics that will ensure the future success of our team of professionals, including an entrepreneurial culture, client-centric perspective, long-term approach to client relationships, and dedication to offering clients independent, trusted and unbiased advice,” added Helms.