Burnham Park buys two research firms to build a full-service investment bank
What's the deal? Burnham Park Capital Markets has agreed to acquire Barrington Research AssociatesDealroom has a profile for this one. Try Dealroom → (BRAI) and Water Tower ResearchDealroom has a profile for this one. Try Dealroom → (WTR), the Chicago-based investment bank announced October 8, 2026. Terms were not disclosed. Burnham Park is also launching a special-purpose acquisition company (SPAC) business alongside the deals.
What's the endgame? The two acquisitions give Burnham Park a full-service platform spanning equity research, capital markets, M&A advisory, institutional sales and trading, and investor engagement. Combined, BRAI and WTR employ 17 research analysts publishing on 350 stocks, backed by more than 500 investor events a year.
The firms also lean on digital distribution. In 2026, their content drew 76,000 YouTube views and 25,000 Spotify streams across more than 100 countries, reaching institutional investors, registered investment advisers, and family offices.
Why the SPAC? Burnham Park wants to cover a company's full life cycle, from late-stage private rounds through public markets. "By leveraging the combined network and profound expertise of both firms' covering public and private companies, building out a SPAC practice was a natural fit," said founder and chief executive officer Sagar Sheth.
BRAI brings more than 40 years of independent fundamental equity research, with analysts covering consumer, business services, healthcare, industrials, media, and technology. WTR adds distribution reach and a life-cycle research offering from pre-IPO through public markets.
What's next? Sheth signalled more deals ahead: "We have more acquisitions to come, and we will be making key hires across business lines as we continue to grow." The transactions are subject to closing conditions and FINRA and other regulatory approvals.
The signal: Burnham Park is betting that bundling research, advisory, and sponsored vehicles under one AI-enabled roof can win issuers and investors at every stage. The push into SPACs suggests the firm sees room to connect private companies with public capital — and to consolidate independent research shops along the way.
Read more: AP News
Image credit: Bernt Rostad
