FORM 8-K
CURRENT REPORT
Pursuant To Section 13 Or 15(d) of the Securities Act Of 1934
Date of Report (Date of earliest event reported): January 25, 2001
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Fechtor, Detwiler, Mitchell & Co.
(Exact name of registrant as specified in its charter)
Delaware 0-12926 95-2627415
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(State of other jurisdiction (Commission (IRS Employer or
incorporation) File Number) Identification No.)
225 Franklin Street, 20th Floor, Boston, Massachusetts 02110
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 617-451-0100
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ITEM 5. OTHER EVENTS
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On January 25, 2001, the Company announced its acquisition
of K. & S., Inc., a specialist firm with operations at the Boston
Stock Exchange. K. & S., Inc. is one of the largest
independently owned specialist operations on the Boston Stock
Exchange and was formed 28 years ago. Kenneth M. King,
President of K. & S., Inc., will continue to serve as President
of the firm.
Additionally, the Company announced the formation of
Detwiler, Mitchell & Co. (UK) Limited headquartered in London,
England. Detwiler, Mitchell & Co. (UK) Limited will conduct
institutional sales and investment banking throughout the UK,
Europe and Canada. George Simpkins will serve as Managing
Director of the firm assisted by Phil Routledge. Both Mr.
Simpkins and Mr. Routledge have significant international
investment experience and specialize in providing research on
fuel cell technology companies.
A copy of the press release concerning this announcement is
attached to this Report as Exhibit 28.1 and is hereby
incorporated by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits.
The following exhibit is filed herewith:
28.1 Press Release dated January 24, 2001 announcing
acquisition of of K. & S., Inc. and establishment
London operations.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
FECHTOR, DETWILER, MITCHELL & CO.
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(Registrant)
Dated: January 31, 2001 By: /s/ Robert E. Jeffords
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(Signature)
Robert E. Jeffords
Assistant Secretary
Page 2 of 2
EXHIBIT 28.1
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NEWS RELEASE FEDM
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Contacts: James K. Mitchell Stephen D. Martino
Chairman and Chief Executive Officer Chief Financial Officer
(617)747-0180 (617) 747-0154
FECHTOR, DETWILER, MITCHELL & CO. ANNOUNCES
ACQUISITION OF K. & S., INC.
BOSTON, MA - (January 25, 2001) - Fechtor, Detwiler, Mitchell & Co.
(NASDAQ: FEDM; PCX: FDE) today announced its acquisition of K. & S.,
Inc., a specialist firm with operations at the Boston Stock Exchange.
K. & S., Inc. is one of the largest independently owned specialist
operations on the Boston Stock Exchange and was formed 28 years ago.
Kenneth M. King, President of K. & S., Inc., will continue to serve as
President of the firm.
Additionally, the Company announced the formation of Detwiler,
Mitchell & Co. (UK) Limited headquartered in London, England.
Detwiler, Mitchell & Co. (UK) Limited will conduct institutional sales
and investment banking throughout the UK, Europe and Canada. George
Simpkins will serve as Managing Director of the firm assisted by Phil
Routledge. Both Mr. Simpkins and Mr. Routledge have significant
international investment experience and specialize in providing
research on fuel cell technology companies.
Mr. James K. Mitchell, Chairman and CEO of Fechtor, Detwiler,
Mitchell & Co. said, "We are delighted that Ken King chose to become
part of our new and growing firm. K. & S. has a stellar reputation on
the Boston Stock Exchange in terms of quality of execution and client
service. This acquisition will allow Fechtor, Detwiler & Co., our
Boston based broker-dealer, to expand its activities on the Boston
Stock Exchange and provide cost savings opportunities for the clearing
operations of the firm. Both the acquisition of K. & S. and the
formation of Detwiler, Mitchell (UK) provide the leverage needed to
expand our distribution systems for investment banking products,
identify additional relationships that would benefit from our research
efforts, and provide potential sources of order flow for our trading
activities."
Andrew F. Detwiler, President of Fechtor, Detwiler, Mitchell &
Co. said, "We believe these two transactions solidly position the firm
to expand its activities, leverage our platforms and talents and
increase revenues in line with the strategic direction of the firm."
Fechtor, Detwiler, Mitchell & Co. is the holding company for
Fechtor, Detwiler & Co., Inc., an investment banking, merchant banking
and brokerage company headquartered in Boston, Massachusetts; K. & S.,
Inc., a specialist firm with operations at the Boston Stock Exchange;
James Mitchell & Co., a financial services company located in San
Diego, California; and Detwiler, Mitchell & Co. (UK) Limited, an
investment banking and brokerage company headquartered in London,
England.
Cautionary Statement regarding forward-looking statements:
Certain statements in this news release may contain forward-looking
statements within the meaning of the Federal securities laws. Such
statements should be considered in light of the risks and
uncertainties associated with Fechtor, Detwiler, Mitchell & Co. and
its operating subsidiaries, including those economic and market risks
contained in the Fechtor, Detwiler, Mitchell & Co. Annual Report on
Form 10-K, and other risks prevailing from time to time; all of which
are subject to material changes and may cause actual results to vary
materially from what had been anticipated.
[FEDM LOGO]
225 Franklin Street, 20th Floor
Boston, MA 02110
(617)451-0100