History & Culture

Like many of our clients, we started as a small bootstrapped venture with five employees in a single office. From the beginning, our goal was to become a market leader by creating a special kind of firm specifically “built for the middle market”. We set out to serve the entrepreneurial community by attracting entrepreneurs like ourselves and building world-class capabilities. During the journey, we completed two rounds of growth financing and six strategic M&A transactions, the most notable of which were the acquisitions of Morgan Stanley’s middle market practice in 2010 and Headwaters MB in 2017.

Now celebrating 15 years of growth and success, Capstone Headwaters is among the largest, independently-owned investment banking firms in the United States. We are proudly owned and operated by our professionals - the same professionals that serve our clients. Today, Capstone Headwaters stands strong at 150+ expert professionals across 20 offices in the US, UK and Brazil with 16 dedicated industry groups. We have created a global presence and built new capabilities that include corporate restructuring, debt advisory, private equity coverage and an industry research team. We remain committed to being simply the best.

Our Culture

Along the way, our commitment to our clients has been unwavering. Our bullish approach is simple: partner with clients where we are confident our capabilities can have a significant impact. Because we are entrepreneurs ourselves, we understand what our clients are experiencing and how critical the work we do is to them. Our team takes pride in our client performance ratings and the value we create through the results we deliver. As a team, we subscribe to values that make a difference in our relationships and the quality of our representation.

Our Mission

Serve our clients and our people with unyielding passion and unmatched skills to deliver superior value.

Our Vision

Build a firm that is strong, well-managed, fast-growing, exciting and innovative with meaningful relationships, high business ethics, and an elite reputation - a firm that offers great opportunities where people are proud to work.

Our Values

Capstone is results oriented.  We take pride in our client performance ratings and the value we create. Our bullish approach is simple: partner with clients where we are certain our capabilities can have a significant impact.  As a team, we subscribe to professional values we feel make a difference in our client relationships and the quality of our representation.  

  • SELFLESSNESS – Embrace "We, then me." Serve the team first.
  • ENTHUSIASM – Enjoy what you do and celebrate who you are.
  • TRUST – Have faith in your partners. Just do the right thing.
  • RESPECT – Communicate with transparency and integrity at all times.
  • TENACITY – Have a passion for excellence. Be gritty. Win.
  • PROGRESSIVENESS – Be curious beyond the obvious. Over-deliver. 
  • ENTREPRENEURIAL - Build something meaningful for the firm. Create. 
  • EMPOWERMENT - Take control. Be accountable. Push and expect to be pushed.
  • BALANCE - Stay focused on what matters most to you. Be healthy and happy.
  • OWNERSHIP - This is your firm, run with it.