Florida-based Raymond James Financial, the wealth management advisory and investment group, has acquired Lane Berry, a US middle market investment banking and advisory firm, for an undisclosed amount.

Founded in 2002 by former Donaldson, Lufkin & Jenrette managing directors Frederick Lane and Robert Berry, Lane Berry employs 21 investment banking professionals with offices in Boston and Denver, according to a statement by Raymond James.

In addition to its work in merger and advisory services, the acquisition of Lane Berry adds experience in the business services industry to the Raymond James investment banking platform, with particular expertise in financial services technology and payment and transaction processing, the statement said.

As part of the acquisition, Mr Lane, former chairman and chief executive of Lane Berry, has joined Raymond James as vice chairman of investment banking. Mr Berry, former president of Lane Berry, has joined as managing director and co-head of Raymond James’ M&A practice, and will help lead the firm’s expanded focus on middle market M&A advisory services.

Another of Lane Berry’s senior professionals, James Bunn, has been appointed co-head of the firm’s Business Services practice and, with managing director Joe Estes, will lead Raymond James’ investment banking effort in that industry.