Mergers & Acquisitions

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.

The Retirement Planning Group Brings In $180 Million Watters Financial Team

By Amit Chowdhry ● Aug 14, 2024

Cetera Holdings announced that Cetera's employee-based RIA The Retirement Planning Group (TRPG) has acquired Watters Financial Services. With about $180 million in assets under management (as of March 31, 2024), the father-son team at Watters Financial Services is based in Paramus, New Jersey and led by Tim Watters, CFP, and Colin Watters, CFP, (father and son, respectively).

Ameriprise Financial Brings In $150 Million Advisor

By Amit Chowdhry ● Aug 14, 2024

Financial advisor Michael Walstien has recently joined the branch channel of Ameriprise Financial from UBS Financial Services with $150 million in assets in Wayzata, Minnesota.

Bluespring Wealth Partners Buys $1.35 Billion Rodgers & Associates Wealth Advisers

By Amit Chowdhry ● Aug 14, 2024

Bluespring Wealth Partners, a leading acquirer of independent RIAs and hybrid wealth management firms, announced the acquisition of Rodgers & Associates Wealth Advisers (Rodgers & Associates), a wealth management firm specializing in retirement planning based in Lancaster, Pennsylvania. This deal comes shortly after Bluespring’s fifth anniversary celebration and brings the company’s community of partner firms to 27 total.

Mars To Buy Kellanova In $35.9 Billion Deal

By Amit Chowdhry ● Aug 14, 2024

Mars, a family-owned global leader in pet care, snacking and food, and Kellanova, a leading company in global snacking, international cereal and noodles, North American plant-based foods and frozen breakfast foods, today announced that they have entered into a deal under which Mars has agreed to acquire Kellanova for $83.50 per share in cash (for a total consideration of $35.9 billion, including assumed net leverage).

LPL Brings In $180 Million SoundWay Financial Team

By Amit Chowdhry ● Aug 12, 2024

LPL Financial announced that financial advisors with SoundWay Financial have joined LPL Financial’s broker-dealer, RIA and custodial platforms - which is aligned with existing firm Balmville Wealth Group (BWG). And they serve about $180 million in advisory, brokerage and retirement plan assets* and join LPL from Cetera.

KKR Buying Majority Stake In FGS ($1.7 Billion Deal)

By Amit Chowdhry ● Aug 11, 2024

KKR announced the acquisition of WPP’s full equity position in FGS Global, a major global communications and public affairs consultancy. The proposed deal is supported by FGS management, builds on KKR’s initial minority investment in July 2023, and values FGS at $1.7 billion.

Robertson Stephens Brings In $530 Million Ratio Wealth Team

By Amit Chowdhry ● Aug 11, 2024

Robertson Stephens Wealth Management announced its fourth acquisition of the year and strategically expanded its presence in Colorado with the addition of Ratio Wealth Group, an SEC-registered investment advisor managing over $530 million in advisory assets. And Derek Scarth and Graham Gerlach, co-founders of Ratio Wealth Group, join Robertson Stephens with their team, including Josh Freedman, Nancy Kimball, Becky Neils, Jen Padgett, Jack Seavall, and Shawn Wallace.

Outbrain And Teads Merging In $1 Billion Deal

By Amit Chowdhry ● Aug 8, 2024

Outbrain, a platform that drives business outcomes through engagement, announced it has entered into a definitive agreement to acquire Teads, the global omnichannel video platform.

Ziff Davis Buying CNET For Over $100 Million, Says Report

By Amit Chowdhry ● Aug 8, 2024

Ziff Davis announced it is buying CNET for over $100 million. CNET was originally founded in 1994 and the company went public two years later. Then CBS bought CNET in 2008 for $1.8 billion in a deal to take the company private. Then in 2020, Paramount Global sold CNET to Red Ventures for $500 million.

Avantax Brings In $150 Million S&P Financial Services And $300 Million Noble Oak Teams

By Amit Chowdhry ● Jul 31, 2024

Avantax, a unique community within Cetera Holdings and a leader in tax-focused financial planning and wealth management, announced two major acquisitions: S&P Financial Services and Noble Oak.

The Exigent Group Buying Smith-Boughan And Electrical Automation Services

By Amit Chowdhry ● Jul 30, 2024

Leading lower middle-market private equity firm Huron Capital announced its portfolio company The Exigent Group acquired Smith-Boughan Mechanical along with Electrical Automation Systems (EASI) in a separate deal.

KKR Buying Fire Equipment Inspection Company Marmic Fire & Safety

By Amit Chowdhry ● Jul 30, 2024

Leading global investment firm KKR announced that its investment funds have acquired Marmic Fire & Safety, a leading provider of regulation-mandated fire equipment inspection, testing, and maintenance services from HGGC. The financial terms were not disclosed.

ServiceNow Buys Raytion For Enhancing GenAI-Based Technologies

By Amit Chowdhry ● Jul 29, 2024

ServiceNow announced it has acquired Raytion to enhance GenAI‑powered search and knowledge management capabilities on the Now Platform. And Raytion’s industry‑leading information retrieval technology will enable unified real‑time access for business‑critical data across multiple enterprise sources for a more powerful and personalized AI search experience, all on a single technology platform.

Barings To Invest In Diversified Packaging

By Amit Chowdhry ● Jul 26, 2024

Barings (one of the world’s leading investment managers) announced it has provided a second lien debt and equity co-investment to support Mill City Capital’s recapitalization of Diversified Packaging Holdings. Based in Blaine, Minnesota, Diversified Packaging provides pre-press products and services to the packaging industry, serving commercial printing companies, corrugate packaging companies, and various other customers across the upper Midwest U.S.

World Investment Advisors Brings In $3.5 Billion Boston Harbor Wealth Advisors Team

By Amit Chowdhry ● Jul 25, 2024

Leading financial advisory firm World Investment Advisors (formerly Pensionmark) announced that it has acquired Boston Harbor Wealth Advisors (BHWA), an independent financial services firm located in Westborough, Massachusetts. Specializing in comprehensive financial planning and goal-oriented investment management for individuals, families and businesses, BHWA has more than $3.5 billion in assets under management (AUM), 76 team members, and 15 offices across the Northeast and Ohio.

Prospera Brings In $115 Million Up The Graph Team

By Amit Chowdhry ● Jul 25, 2024

Prospera Financial Services - a boutique wealth management firm supporting a nationwide network of independent advisors - announced that Up the Graph Financial Group of Irvine, California, has joined its platform. The firm, which is led by Garrick Updegraph, has about $115 million in assets under management (AUM).

Avantax Adds $150 Million S&P Financial Services Team

By Amit Chowdhry ● Jul 25, 2024

Avantax - a unique community within Cetera Holdings and a leader in tax-focused financial planning and wealth management - announced it welcomed financial advisors John Surace, Kelly Powers and their S&P Financial Services team (based in Hauppauge, New York in the heart of Long Island). And transferring to Avantax from Osaic, the team has approximately $150 million in client assets under administration as of June 2024.

Cetera Brings In $325 Million AUA Team

By Amit Chowdhry ● Jul 25, 2024

Cetera Financial Group announced that a nine-person team doing business as Rally Wealth and Benefits has joined Summit Financial Networks. The firm (led by President Bruce Glenn) and his daughter Managing Partner Kristina Strickland provide comprehensive financial planning and investment advice to clients and had over $325 million in assets under administration as of March 1, 2024.

CW Advisors Acquiring New Jersey-Based RIA Mercadien Asset Management

By Amit Chowdhry ● Jul 25, 2024

CW Advisors (CWA) announced the acquisition of Mercadien Asset Management, an RIA located in Hamilton, New Jersey. The terms of the deal were not disclosed.