D.A. Davidson & Co. announced today that Sokol Cano has joined as a Managing Director to lead its Paper & Packaging practice. Sokol represents the firm’s most recent hire in its Investment Banking Group, and is a testament to its continued investment to broaden its Diversified Industrials capabilities. Sokol will serve clients in rigid, flexible, and corrugated packaging, labels, packaging distribution, contract packaging and manufacturing, pulp and paper, and commercial printing sub-verticals. He will be based in New York.

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Sokol Cano joins D.A. Davidson as a Managing Director to lead its Paper & Packaging practice within the Diversified Industrials Investment Banking Group. He will serve clients in rigid, flexible and corrugated packaging, labels, packaging distribution, contract packaging and manufacturing, pulp and paper, and commercial printing sub-verticals. He will be based in New York. (Photo: Business Wire)

“Our commitment to building the Diversified Industrials Investment Banking Group remains strong. We know that the packaging industry is an essential part of the economy and has had transformational changes during the COVID pandemic as well as across its regulatory environment,” said Tim Sznewajs, Head of the Diversified Industrials Investment Banking Group and Managing Director at D.A. Davidson. “We enthusiastically welcome Sokol to the team and look forward to his success.”

“We are deeply committed to our clients and their advisory needs in the Diversified Industrials sector. This new senior hire aligns with our stated plan of continued investment and growth within the Diversified Industrials Group, which is approaching 40 professionals across the D.A. Davidson platform,” said Rory McKinney, Head of Investment Banking and Managing Director at D.A. Davidson.

How are Packaging companies weathering supply chain disruptions, raw material price inflation, continued labor shortages, and capital markets volatility?

“Packaging is a necessary part of the economy, and it represents one of the least volatile manufacturing sectors given relatively light capital expenditure requirements as compared to other manufacturing industries,” remarked Sokol Cano, Managing Director in the Diversified Industrial Group at D.A. Davidson. “As such, Packaging companies have performed remarkably well despite the macro challenges prevalent in the current environment. Revenue growth continues unabated as companies successfully pass along price increases, whereas average EBITDA margins have stabilized around the 15% mark, in line with long-term historical averages. The recent focus on sustainability has also spurred change across the industry and is driving new product innovation and material substitution. I expect Packaging companies to perform well in any economic environment through both pricing power and product innovation. I also expect the historically high interest in this sector from private equity firms to remain solid.”

How is D.A. Davidson uniquely positioned to serve the needs of companies in the Paper & Packaging space?

“As an independent, employee-owned company, D.A. Davidson represents an entrepreneurial environment free from conflicts faced by competing investment banks. D.A. Davidson is extremely well-positioned to help middle-market clients in the Paper & Packaging space not only with their mergers and acquisitions needs, but also with their debt financings through their Debt Advisory Group,” said Cano. “It is no secret that direct lenders have gained tremendous market share in acquisition financing in Packaging, and D.A. Davidson is extremely well positioned to advise private equity acquirers with both their M&A and acquisition financings needs. In addition, the Diversified Industrials investment banking team comprises talented bankers with deep domain expertise who work collaboratively to get the best possible results for our clients.”

Sokol joins D.A. Davidson after 11 years at KeyBanc Capital Markets, where he most recently led the Paper & Packaging industry practice. Prior to joining KeyBanc Capital Markets, Sokol spent four years at Barclays Capital and Lehman Brothers, where he was most recently a Vice President in its Industrials Mergers & Acquisitions Group. In these roles, he sourced and/or executed transactions with a combined value exceeding $50 billion.

Sokol holds an MBA from Columbia Business School, a B.A. from Wabash College, and he is a Chartered Financial Analyst.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

For more information, visit www.dadavidson.com.

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