Mergers & Acquisitions

Wealth Enhancement Group Buys $123+ Million Hybrid RIA Peak Financial

By Amit Chowdhry ● Jul 17, 2024

Wealth Enhancement Group, a national independent wealth management firm with over $85.4 billion in client assets, announced it acquired Peak Financial Services, a hybrid RIA located in Northborough, Massachusetts. Peak Financial Services oversees more than $123 million in client assets and is led by Founder & President, Kevin O'Brien, CFP, AIF, CAP.

LPL Reveals New Team Additions: Danielle Qualls, First Summit, Zack Wealth, Countiss, Integrity, And Summit Planning

By Amit Chowdhry ● Jul 16, 2024

Over the last couple of weeks, LPL announced a number of team additions. These are the details.

Kingsview Partners Opens New Michigan Office With Wealth Managers | Partners Acquisition

By Amit Chowdhry ● Jul 16, 2024

Kingsview Partners announced that Wealth Managers | Partners Chris Kramer and Alan Gieleghem have officially joined Kingsview Partners in Rochester Hills, Michigan. With previous roles in the entertainment and education industries, the team has combined experience and credentials help them provide expertise for individuals, families, and businesses.

Commonwealth Financial Adds $300 Million Terramar Wealth Team

By Amit Chowdhry ● Jul 16, 2024

Commonwealth Financial Network, a national firm dedicated to providing financial advisors with holistic, integrated business solutions, announced that Terramar Wealth of Carlsbad, California, has joined its network of independent financial advisors. Previously with Osaic, the team reported serving over $300 million in client assets. The advisors include Mike Gallop, CFP, AIF, Danny McMahon, Steve Statzer, Steve Rubinstein, Greg Fox, Jeffrey Gardner, and Todd Oberlin, and are joined by Pat Posada, director of compliance.

Arkadios Capital Brings In $850 Million Advisory Group Gulf Coast Wealth Management

By Amit Chowdhry ● Jul 16, 2024

New Orleans-based Gulf Coast Wealth Management announced it has moved its $850 million in assets under advisement to Arkadios Capital, a fast-growing hybrid broker-dealer disrupting the financial services industry.

Honeywell Buying LNG Technology From Air Products For $1.81 Billion

By Amit Chowdhry ● Jul 16, 2024

Honeywell and Air Products jointly announced that Honeywell has agreed to acquire Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This represents approximately 13x the estimated 2024 EBITDA.

EP Wealth Advisors Acquiring $700 Million (AUM) Sloan Investment Management

By Amit Chowdhry ● Jul 16, 2024

EP Wealth Advisors - a leading independent registered investment adviser (RIA) with an expanding national presence and client base - announced the acquisition of Dallas-based Sloan Investment Management. This partnership adds about $700 million in assets under management (AUM), bringing EP Wealth’s total AUM in the Dallas region to over $1 billion, and $25.2 billion nationwide.

Infinite Reality Raises $350 Million At $5.1 Billion Valuation And Buys Landvault For $450 Million

By Amit Chowdhry ● Jul 16, 2024

Infinite Reality (iR), a company powering the next generation of digital media and e-commerce through AI and immersive technologies, announced a $350 million minority investment from a private multi-family office focused on global technology, media, and real estate, bringing the company’s valuation to $5.1 billion. This funding, which is in equity and not debt, is new and separate from iR’s goal of completing the previously announced SPAC deal.

Accenture Buying Silicon Engineering Services Company Cientra

By Amit Chowdhry ● Jul 12, 2024

Accenture announced it has acquired Cientra, a silicon design and engineering services company, offering custom silicon solutions for global clients. The terms of the deal were not disclosed.

NewEdge Advisors Brings In $580 Million Dallas-Based Team Fortis Wealth

By Amit Chowdhry ● Jul 12, 2024

NewEdge Advisors (a leading New Orleans-based RIA) that is supporting successful independent financial advisors nationwide announced that Dallas-based team Fortis Wealth Advisors has joined the firm from J.P. Morgan Securities, where they were overseeing approximately $580 million in client assets.

Perigon Wealth Management Acquires $150 Million Firm Creative Financial Planning

By Amit Chowdhry ● Jul 12, 2024

Perigon Wealth Management - a rapidly growing independent wealth management firm with offices across the country and about $7.75 billion as of March 31, 2024 - in client assets, today announced the acquisition of Creative Financial Planning Inc. of New York, a firm with approximately $150 million in assets under management (AUM). Terms were not disclosed.

Ligand Buying APEIRON Biologics For $100 Million

By Amit Chowdhry ● Jul 11, 2024

Ligand Pharmaceuticals announced that it has entered into a definitive agreement to buy APEIRON Biologics AG, which holds royalty rights to QARZIBA (dinutuximab beta) for the treatment of high-risk neuroblastoma, for $100 million in cash. And Ligand will pay APEIRON shareholders additional consideration based on future commercial and regulatory events, including up to $28 million if QARZIBA royalties exceed certain predetermined thresholds by either 2030 or 2034, respectively.

Accuhealth And Signallamp Merging To Create Full Suite Of Remote Care Offerings

By Amit Chowdhry ● Jul 9, 2024

Accuhealth and Signallamp Health, both of which are leading healthcare technology companies, announced a merger - which is funded by an additional investment from Sunstone Partners. The combination of the two companies creates a full suite of high-quality remote care offerings, including remote patient monitoring (RPM) and chronic care management (CCM) services to physician practices and health systems.

Stripes Beauty Acquired By L Catterton And Actress Naomi Watts

By Amit Chowdhry ● Jul 8, 2024

Naomi Watts (actress and women’s health advocate) and L Catterton (a leading consumer-focused investment firm) announced a partnership in the acquisition of Stripes Beauty. Launched in 2022, Stripes Beauty was founded by actress Naomi Watts with the goal of normalizing conversations about menopause and other symptoms associated with natural hormonal changes.

Raymond James Brings In $1.3 Billion Las Vegas-Based Advisor Team

By Amit Chowdhry ● Jul 6, 2024

Rick Sanchez, West Coast regional director for Raymond James & Associates (RJA), announced that the firm has brought in a team of seven financial advisors to the firm in Las Vegas. This team includes financial advisors Nick Takahashi, CRPC, James Zapotocky, Joshua Yocam, Luka Vasiljevic, Michael Ortega, Stephen Ellingsen and Sean Tsaconas, and senior client service associate Yalda Momeni.

Ameriprise Brings In $100+ Million Financial Advisor Team

By Amit Chowdhry ● Jul 3, 2024

Financial advisor Michael Cruz has recently joined the branch channel of Ameriprise Financial from Wells Fargo Clearing Services with $100 million in assets in Temecula, California.

LPL Brings In $160 Million Virginia-Based Advisory Team

By Amit Chowdhry ● Jul 2, 2024

LPL Financial announced that financial advisor W. Scott Hengerer, CMFC, CRPC, has joined LPL Financial’s broker-dealer, RIA and custodial platforms to launch a new independent practice called James River Private Wealth. And he reported serving approximately $160 million in advisory, brokerage and retirement plan assets and joins LPL from Ameriprise.

AssetMark Buying $12 Billion In Assets From Morningstar Wealth

By Amit Chowdhry ● Jul 2, 2024

Wealth management platform AssetMark (a wholly owned subsidiary of AssetMark Financial Holdings and a Registered Investment Adviser) announced a strategic alliance with Morningstar Wealth (a division of independent investing insights firm Morningstar).

Baldwin Brothers Buys Assets Of KLR Investment Advisors

By Amit Chowdhry ● Jul 2, 2024

Baldwin Brothers, a fifty-year legacy wealth and investment management firm based in southeastern Massachusetts with just under $2.3 billion of assets under management, announced the acquisition of the assets of KLR Investment Advisors, an elite wealth management firm based out of Providence, Rhode Island.

Boeing Buying Fuselage Company Spirit AeroSystems In $8.3 Billion Deal

By Amit Chowdhry ● Jul 1, 2024

Today Boeing announced it has entered into a definitive agreement to acquire Spirit AeroSystems. This merger is an all-stock deal valued at an equity value of approximately $4.7 billion (or $37.25 per share). The total deal value is approximately $8.3 billion, including Spirit's last reported net debt.Today Boeing announced it has entered into a definitive agreement to acquire Spirit AeroSystems. This merger is an all-stock deal valued at an equity value of approximately $4.7 billion (or $37.25 per share). The total deal value is approximately $8.3 billion, including Spirit's last reported net debt.

India-Based Venture Highway Merging With General Catalyst

By Amit Chowdhry ● Jul 1, 2024

India-based venture capital firm Venture Highway (VH) announced it is merging with General Catalyst (GC).

Nokia Buying Infinera In $2.3 Billion Deal

By Amit Chowdhry ● Jun 27, 2024

Nokia and Infinera, a global supplier of innovative open optical networking solutions and advanced optical semiconductors, today announced a definitive agreement under which Nokia will buy Infinera in a deal valuing the company at $6.65 per share or an enterprise value of $2.3 billion.

Chime Buys Enterprise Employee Rewards Company Salt Labs

By Amit Chowdhry ● Jun 27, 2024

Banking app company Chime announced that it acquired Salt Labs, an enterprise technology company focused on helping hourly workers on the long-term value of their work. The terms of the deal were undisclosed.

Atwell Buys Professional Surveying Company Hydro Consultants

By Amit Chowdhry ● Jun 26, 2024

Atwell announced it has acquired Hydro Consultants, a professional surveying, engineering, and mapping company located in Baton Rouge, Louisiana. This deal expands Atwell’s presence in Louisiana and the Gulf Coast region. The terms of the transaction were not disclosed.

KKR Buys $2.1 Billion Multifamily Portfolio From Quarterra

By Amit Chowdhry ● Jun 26, 2024

Leading global investment firm KKR announced that it acquired a portfolio of 18 multifamily assets from a closed-ended fund sponsored by Quarterra Multifamily, a premier multifamily real estate development and operating company, for about $2.1 billion.

Mozilla Acquiring Privacy-Preserving Digital Ad Company Anonym

By Amit Chowdhry ● Jun 26, 2024

Mozilla announced it has acquired Anonym, which is an innovator in privacy-preserving digital advertising. This strategic deal enables Mozilla to help raise the bar for the advertising industry by ensuring user privacy while also delivering effective advertising solutions.

TravelPerk Secures $135 Million And Buys AmTrav

By Amit Chowdhry ● Jun 25, 2024

TravelPerk - a hyper-growth global business travel management platform - announced its acquisition of AmTrav, doubling down on its expansion in the US.

Corpay Acquiring Cross-Border Payments Company GPS Capital Markets

By Amit Chowdhry ● Jun 25, 2024

Global corporate payments company Corpay announced that it has signed a definitive agreement to buy GPS Capital Markets. GPS offers business-to-business cross-border and treasury management solutions to upper-middle market companies, primarily in the US.

American Express Buying Tock ($400 Million) And Rooam (Undisclosed)

By Amit Chowdhry ● Jun 25, 2024

American Express and Squarespace announced an agreement to sell Tock, the reservation, table, and event management technology provider to American Express for $400 million. And American Express also revealed it is buying Rooam.

KKR Buying Superstruct From Providence Equity Partners

By Amit Chowdhry ● Jun 25, 2024

Global investment firm KKR announced the acquisition of Superstruct Entertainment from Providence Equity Partners, a premier private equity firm specializing in growth-oriented investments in media, communications, education, and technology. The financial terms of the transaction were not disclosed.