Mergers & Acquisitions

FireHydrant Buys Incident Management Company Blameless

By Amit Chowdhry ● Aug 22, 2024

FireHydrant, a reliability platform across the entire incident response lifecycle, announced today that it has closed on a transaction to buy Blameless. This acquisition accelerates FireHydrant’s growth into the enterprise segment for incident management.

LPL Financial Brings Back $535 Million Harbor Lights Financial Group Team

By Amit Chowdhry ● Aug 21, 2024

LPL Financial announced that the founders, financial advisors and staff with Harbor Lights Financial Group returned to LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving approximately $535 million in advisory, brokerage, and retirement plan assets and joined LPL from Wells Fargo FiNet.

Abacus Life Acquires $600 Million FCF Advisors Team

By Amit Chowdhry ● Aug 21, 2024

Alternative asset manager Abacus Life announced a definitive agreement to acquire FCF Advisors, a New York-based asset manager and index provider specializing in free cash flow-focused investment strategies. The acquisition of FCF - which has approximately $600 million in assets under management - is aligned with Abacus’ ongoing expansion of ABL Wealth and its suite of products.

Summit Trail: $500 Million Advisor Paul Hoskin Joins As Partner

By Amit Chowdhry ● Aug 21, 2024

Summit Trail Advisors, a leading boutique wealth management firm with $18 billion in assets under management, announced that Paul D. Hoskin, CFP, has joined the firm as Partner and Advisor in Newport Beach, California.

Janus Henderson Buying Majority Stake In Victory Park Capital

By Amit Chowdhry ● Aug 21, 2024

Global active asset manager Janus Henderson Group announced that it has entered into a definitive agreement to acquire a majority stake in Victory Park Capital Advisors (VPC), a global private credit manager with a nearly two-decade-long track record of providing customized private credit solutions to both established and emerging businesses. And VPC complements Janus Henderson’s securitized credit franchise and expertise in public asset-backed securitized markets and further expands the company’s capabilities into the private markets for its clients.

Journey Strategic Wealth Brings In $200 Million Advisor

By Amit Chowdhry ● Aug 21, 2024

Journey Strategic Wealth, a national RIA for independent advisors, announced the addition of the MDL Wealth advisory team, including founder Michael LaBarbera, advisor Ted Albrecht, and service advisors Carol Liddy and Sheila Meneses, bringing Journey's total AUM to $3.7 billion.

Summit Financial Brings In $400 Million Meeder Wealth Management Team

By Amit Chowdhry ● Aug 21, 2024

Summit Financial, a leading architect of advisor success and client satisfaction for over four decades - in collaboration with Merchant Investment Management - announced that it has acquired an equity stake in the wealth management arm of Meeder Investment Management.

Raymond James Brings In $290 Million Advisor Team And $150+ Million FA

By Amit Chowdhry ● Aug 21, 2024

Raymond James announced a couple of major hires. This includes a $290 million advisor team and a $150 million financial advisor.

LPL Brings In $725 Million FA Alberto Francis

By Amit Chowdhry ● Aug 21, 2024

LPL Financial announced that financial advisor Alberto Francis has joined LPL Financial’s high-net-worth-focused employee affiliation model, LPL Private Wealth Management, to launch Rockview Private Wealth. And he reported having served approximately $725 million in advisory, brokerage and retirement plan assets and joins LPL from Bank of America Private Bank.

Enterprise To Buy Piñon Midstream In $950 Million Deal

By Amit Chowdhry ● Aug 21, 2024

Enterprise Products Partners and Piñon Midstream (a portfolio company of Black Bay Energy Capital) announced today that Enterprise’s affiliate has entered into a definitive agreement to acquire Piñon Midstream in a debt-free transaction for $950 million in cash consideration. Piñon Midstream offers natural gas gathering and treating services in the core of the prolific eastern flank of the Delaware Basin in New Mexico and Texas.

Commonwealth Financial Brings In $630 Million Krueger Team

By Amit Chowdhry ● Aug 21, 2024

Commonwealth Financial Network, a national firm dedicated to providing financial advisors with holistic, integrated business solutions, announced that Krueger Financial Services of Tempe, Arizona, has joined its network of independent financial advisors. Formerly affiliated with Osaic, the team reported serving over $630 million in client assets. The advisors include Kim Krueger, CFP, Eric Krueger, CFP, and Tim Hill, CFP, on the staff of nine.

Bitfarms Buying Stronghold Digital Mining In $125 Million Deal

By Amit Chowdhry ● Aug 21, 2024

Bitfarms (a global vertically integrated Bitcoin data center company) and Stronghold Digital Mining entered into a definitive merger agreement under which Bitfarms will acquire Stronghold in a stock-for-stock merger transaction. This deal is valued at approximately $125 million equity value along with the assumption of debt valued at roughly $50 million.

JT Group Buying Vector In $2.4 Billion Deal

By Amit Chowdhry ● Aug 21, 2024

Vector Group announced today that it has entered into a definitive agreement to be acquired by JT Group, a global company headquartered in Tokyo, Japan, operating in tobacco, pharmaceuticals and processed food. And JT Group’s global tobacco business (based in Geneva, Switzerland) manufactures and sells some of the world’s best-known brands in over 130 markets worldwide – including Winston and Camel (outside the U.S.), MEVIUS and LD.

LPL Brings In $615 Million Wealthstead Financial Advisors Team

By Amit Chowdhry ● Aug 21, 2024

LPL Financial announced that financial advisors Jason Walker, Vladimir Nikitenko, CFP, H. Scott Braswell, Rosty Tkachenko, and John Hydrick, CFP, have joined LPL Financial’s broker-dealer, RIA, and custodial platforms, which are aligned with existing firm Integrated Financial Group (IFG). They reported serving approximately $615 million in advisory, brokerage, and retirement plan assets and joined LPL from Lincoln (now part of Osaic).

Hewlett Packard Enterprise Buying Hybrid Cloud Management Company Morpheus Data

By Amit Chowdhry ● Aug 20, 2024

Hewlett Packard Enterprise announced that it is buying Morpheus Data, a pioneer in software for hybrid cloud management and platform operations. The acquisition of Morpheus validates HPE’s commitment to simplifying IT complexity by expanding the hybrid operations capabilities available through the HPE GreenLake cloud.

Johnson & Johnson To Buy V-Wave For Up To $1.7 Billion

By Amit Chowdhry ● Aug 20, 2024

Johnson & Johnson announced today that it has entered into a definitive agreement to acquire V-Wave, a privately-held company developing innovative treatment options for patients with heart failure. As part of the deal, Johnson & Johnson will acquire V-Wave for an upfront payment of $600 million, subject to customary adjustments, with the potential for additional regulatory and commercial milestone payments up to approximately $1.1 billion. V-Wave will be joining Johnson & Johnson as part of Johnson & Johnson MedTech.

KKR Buys Six Class A Industrial Warehouses In $377 Million Deal

By Amit Chowdhry ● Aug 20, 2024

Global investment firm KKR announced that it has acquired a portfolio of six well-located, Class A industrial logistics properties in major U.S. Gateway and Sunbelt markets for approximately $377 million.

AMD Buying Compute Infrastructure Company ZT Systems In $4.9 Billion Deal

By Amit Chowdhry ● Aug 19, 2024

Today, AMD announced the signing of a definitive agreement to acquire ZT Systems, a leading provider of AI infrastructure for the world’s largest hyperscale computing companies. This strategic transaction is a major step in AMD’s AI strategy to deliver leadership AI training and inferencing solutions based on innovation across silicon, software, and systems. AMD agreed to buy ZT Systems in a cash and stock transaction valued at $4.9 billion, including a contingent payment of up to $400 million based on certain post-closing milestones.

Amazon Buying Perceive From Xperi For $80 Million

By Amit Chowdhry ● Aug 19, 2024

In an SEC filing, it was revealed that Amazon was buying Perceive for $80 million in cash, which is a company that develops breakthrough neural network inference solutions that push the performance-accuracy-power envelope, while also protecting the security and privacy of consumers. Launched in 2018, Perceive is a majority-owned subsidiary of Xperi Corporation.

Rheinmetall Acquiring Loc Performance In $950 Million Deal

By Amit Chowdhry ● Aug 18, 2024

Rheinmetall announced it had signed an agreement to acquire all equity interests in Loc Performance Products, a renowned vehicle specialist based in Plymouth, Michigan.

Allstate Selling Employer Voluntary Benefits Unit To The Standard In $2 Billion Deal

By Amit Chowdhry ● Aug 18, 2024

StanCorp Financial Group and The Allstate Corporation announced a definitive agreement under which The Standard will acquire Allstate’s Employer Voluntary Benefits business for approximately $2 billion and enter into a product distribution partnership. The deal is expected to close in the first half of next year, subject to regulatory approvals and other customary closing conditions.

Flywire Buys B2B Finance Team SaaS Platform Company Invoiced

By Amit Chowdhry ● Aug 18, 2024

Flywire, a global payments enablement and software company, announced that it has acquired Invoiced. Invoiced is a SaaS platform that enables B2B finance teams and the Office of the CFO to automate the critical order-to-cash process.

Performance Food Group Buying Cheney Bros In $2.1 Billion Deal

By Amit Chowdhry ● Aug 18, 2024

Performance Food Group Company announced that it has entered into a definitive agreement with Cheney Bros - a leading independent broadline foodservice distributor based in Riviera Beach, Florida and owned by the Cheney family and Clayton Dubilier & Rice (CD&R) - under which PFG will acquire Cheney Brothers for $2.1 billion in cash.

Almaviva Buying Iteris In $335 Million Deal

By Amit Chowdhry ● Aug 18, 2024

Iteris, a trusted technology ecosystem for smart mobility infrastructure management, announced that it has entered into a definitive merger agreement to be acquired by Almaviva S.p.A. (a private Italian digital innovation group) in an all-cash transaction valuing Iteris at approximately $335 million equity value. Under the terms of the deal, Iteris shareholders will receive $7.20 in cash for each share of Iteris common stock.

Kestra PWS Brings In $87 Million Advisor Rachel Eisenhart

By Amit Chowdhry ● Aug 18, 2024

Kestra Private Wealth Services (Kestra PWS), a registered investment adviser subsidiary of Kestra Financial has welcomed Rachel Eisenhart CFP, ChFC, AAMS to its community of independent financial professionals, in partnership with Alexandria, Virginia-based HF3 Wealth Partners (HF3), which joined the Kestra network in 2022.

Vista Equity Partners Buys Enterprise Procurement Company JAGGAER

By Amit Chowdhry ● Aug 17, 2024

Vista Equity Partners announced the acquisition of JAGGAER, a global leader in enterprise procurement and supplier collaboration software, from Cinven. The terms of the transaction were not disclosed.

H.I.G. Capital Affiliate Acquires Axis Europe Limited

By Amit Chowdhry ● Aug 17, 2024

H.I.G. Capital - a leading global alternative investment firm with $64 billion of capital under management - announced that one of its affiliates has acquired Axis Europe Limited, a leading UK provider of property maintenance services, from its founder and owner, John Hayes. Hayes will reinvest alongside H.I.G. and join the board as a non-executive director. The financial terms of the transaction have not been disclosed.

PE Firm Fort Point Capital Buys NewBold

By Amit Chowdhry ● Aug 17, 2024

Fort Point Capital (a Boston-based private equity firm) announced that it has acquired NewBold Corporation, a leading provider of managed technology services to the quick service restaurant, retail, warehousing, and healthcare industries.

EQT Buying PropertyGuru For $1.1 Billion

By Amit Chowdhry ● Aug 16, 2024

PropertyGuru Group - Southeast Asia’s leading property technology company - announced that it has entered into an agreement and plan of merger with affiliates of BPEA Private Equity Fund VIII Limited (part of EQT AB, a purpose-driven global investment organization) under which EQT Private Capital Asia will acquire the company in an all-cash transaction that values PropertyGuru at an equity value of approximately $1.1 billion.

Roper Technologies To Buy Transact Campus In $1.5 Billion Deal

By Amit Chowdhry ● Aug 15, 2024

Roper Technologies announced today that it has entered into a definitive agreement to acquire Transact Campus for a net purchase price of $1.5 billion. This includes a $100 million tax benefit resulting from the transaction.