Coastline Wealth Management has secured up to $100 million in financing from Brightwood Capital Advisors while simultaneously completing 12 acquisitions, pushing the independent wealth management platform above $6 billion in assets under management and administration.
Brightwood provided Coastline with a senior secured credit facility designed to support the firm’s acquisition pipeline and continued investment in its advisor platform.
Brightwood served as sole lender and administrative agent for the transaction.
The 12 transactions include a combination of full and partial practice acquisitions and represent another significant step in Coastline’s consolidation strategy.
Founded in 2012, Coastline has expanded from approximately $20 million in assets to more than $6 billion in assets under management and administration.
The Long Island, New York-based firm now serves more than 10,000 clients and has completed more than 30 acquisitions.
Coastline provides wealth management services to individuals, families, business owners and institutions across the U.S.
Its acquisition strategy centers on bringing established financial advisors and wealth management practices onto the Coastline platform while attempting to preserve the entrepreneurial characteristics of those businesses.
The platform provides advisors with capabilities spanning financial planning, investment management, practice management, marketing, technology, operations and succession planning.
The new Brightwood financing gives Coastline additional capital to pursue acquisitions while continuing to expand the infrastructure available to advisors already operating on the platform.
Coastline expects the facility to provide flexibility for both its immediate acquisition pipeline and future transactions as additional wealth management practices seek succession, growth capital or larger operating platforms.
The financing comes amid continued consolidation across the independent wealth management industry, where firms are competing to acquire established advisory practices and provide infrastructure that can support succession planning and organic growth.
Brightwood specializes in senior debt and broader capital solutions for middle-market businesses.
The private credit firm manages more than $6 billion in assets and primarily targets U.S. companies with between $5 million and $75 million of EBITDA across technology and telecommunications, healthcare services, business services, transportation and logistics, and franchising.
For Coastline, the transaction adds financial capacity at a time when the firm is accelerating acquisitions and expanding its national footprint.
KEY QUOTES:
“Surpassing $6 billion in assets is an exciting milestone and, more importantly, a reflection of the quality of the advisors and teams who continue to choose to build their future with us. It was essential to us that we worked with a private credit team that reflected the same quality and belief in what we are building. It was clear early on that Brightwood understood our business, our acquisition strategy and this opportunity for growth. Their investment gives us the financial depth to execute our growth plan, expand our platform through strategic acquisitions, and continue building the resources our advisors need to best serve their clients.”
Garrett Taylor, CEO Of Coastline Wealth Management
“We are excited to partner with Coastline at such an important point in the company’s growth and at a time where so many financial advisors are looking for exactly the type of solutions Coastline provides. Their team has built a strong platform, a respected brand and an approach designed to meet the needs of wealth professionals at a range of pivotal points in their respective careers. We were pleased to provide a financing solution that supports the company’s immediate acquisition needs while giving the business the flexibility to pursue future opportunities, and we look forward to working with the Coastline team as they continue to grow.”
Chris Warren, Managing Director And Co-Head Of Capital Markets At Brightwood Capital
