Mergers & Acquisitions

EP Wealth Advisors: Acquisition Of Gather Financial Planning And Riley Private Client

By Amit Chowdhry ● Nov 6, 2024

EP Wealth Advisors, a leading fee-only RIA with an expanding national footprint and client base, announced the acquisition of Gather Financial Planning in Maine and Riley Private Client in Texas. These new firms—which join existing EP regions—will gain access to EP Wealth’s expansive offerings and growth strategies while adding over $240 million to its assets under management (AUM).

Motorola Solutions Buying Control Room Software Company 3tc Software

By Amit Chowdhry ● Nov 6, 2024

Motorola Solutions announced it has acquired 3tc Software, a provider of control room software solutions for Fire and Rescue Services and Police, based in Leicestershire, United Kingdom (U.K.). 3tc’s computer-aided dispatch (CAD) software was built to maximize 999 call-taker speed and efficiency in high-stress environments.

Stonepeak Buying Air Transport Services Group (ATSG) For $3.1 Billion

By Amit Chowdhry ● Nov 6, 2024

Air Transport Services Group, a global leader in medium-widebody freighter aircraft leasing, air transport operations, and support services, announced that it has entered into a definitive agreement to be acquired by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. The transaction will be an all-cash transaction with an enterprise valuation of about $3.1 billion.

Aspen Standard Wealth Buying $2.8 Billion AUM RIA Summitry

By Amit Chowdhry ● Nov 6, 2024

Aspen Standard Wealth, a firm that serves as a permanent home and long-term partner for successful RIAs, announced that it has acquired Summitry, a leading registered investment adviser with $2.8 billion in assets under management (AUM).

Teledyne Buying Micropac In $57.3 Million Deal

By Amit Chowdhry ● Nov 6, 2024

Teledyne Technologies and Micropac Industries jointly announced that they have entered into a definitive merger agreement that provides for the merger of Micropac with a wholly-owned subsidiary of Teledyne.

CoStar: Deal Closed To Buy Visual Lease

By Amit Chowdhry ● Nov 6, 2024

CoStar Group - a leading provider of online real estate marketplaces, information, and analytics in the property markets - announced that it has completed its acquisition of lease administration and accounting platform Visual Lease. The strategic deal will enhance CoStar Group’s Real Estate Manager business line and provide additional lease management and lease accounting value to corporations of all sizes.

EQT Partners Acquires HR Software Company PageUp

By Amit Chowdhry ● Nov 6, 2024

PageUp Group, a human-resources and talent software company that had been majority-owned by Battery Ventures, has been acquired by global investment firm EQT Group.

Wesco To Buy Data Center Facility Management Services Provider Ascent For $185 Million

By Amit Chowdhry ● Nov 6, 2024

Wesco International announced it has entered a definitive agreement to acquire Ascent, a privately held company based in St. Louis, Missouri and a premier provider of data center facility management services for a cash-free and debt-free purchase price of $185 million.

Houlihan Lokey: Acquisition Of Prytania Solutions (PSL)

By Amit Chowdhry ● Nov 6, 2024

Global investment bank Houlihan Lokey has acquired Prytania Solutions (PSL), a leading provider of technology-driven valuation and analytic services. The bank is continuing to strengthen its market-leading Financial and Valuation Advisory business and offer clients a differentiated experience with data-driven deliverables.

Peakstone Realty Trust Buys 51-Property Industrial Outdoor Storage Portfolio In $490 Million Deal

By Amit Chowdhry ● Nov 5, 2024

Peakstone Realty Trust—a real estate investment trust focused on owning and operating industrial assets—announced that it has acquired a portfolio of 51 industrial outdoor storage (IOS) properties from a joint venture between Alterra IOS and institutional investors advised by J.P. Morgan Asset Management in an off-market transaction valued at $490 million. This acquisition was funded by a combination of proceeds from the company’s credit facility and cash on hand.

Apogee Enterprises: $240 Million Acquisition Of UW Solutions Completed

By Amit Chowdhry ● Nov 5, 2024

Apogee Enterprises announced that it has completed the acquisition of UW Interco - which is a vertically integrated manufacturer of high-performance coated substrates used in graphic arts, building products, and other applications - for $242 million in cash.

Apple Acquiring Image Editing Company Pixelmator

By Amit Chowdhry ● Nov 4, 2024

Apple announced it is buying Lithuania-based Pixelmator, which is a popular image editing app built for Mac and iOS. Through the acquisition, Pixelmator said it would now have the “ability to reach an even wider audience and make an even bigger impact on the lives of creative people around the world.” The deal is subject to regulatory approval.

LPL Onboards $800 Million Dougherty, Tedesco & Associates Advisors Team

By Amit Chowdhry ● Nov 4, 2024

LPL Financial announced that the financial advisors at Dougherty, Tedesco & Associates have joined LPL Financial’s broker-dealer, RIA and custodial platforms. And they reported serving about $800 million in advisory, brokerage and retirement plan assets, and join LPL from Osaic.

Raymond James Onboards $1.3+ Billion FA Melinda Johnston

By Amit Chowdhry ● Nov 3, 2024

Raymond James recently onboard financial advisor Melinda Johnston to the firm’s employee advisor channel Raymond James & Associates (RJA) in Fort Worth, Texas. Edward Sudzina, Western Gulf regional director for RJA, revealed this announcement.

Waverly Advisors Buys $1 Billion Advisory Firm 9258 Wealth Management

By Amit Chowdhry ● Nov 3, 2024

Waverly Advisors, a federally registered investment adviser (RIA) that specializes in investment management, financial planning and wealth management solutions for a diverse group of high-net-worth individuals, corporate retirement plans and institutional clients, acquired 9258 Wealth Management, an investment advisory firm and tax preparation and planning business headquartered in Cincinnati, Ohio. This partnership adds three Ohio-based office locations to Waverly’s growing footprint and $1 billion in assets under management (AUM).

Modern Wealth Buys $1.4 Billion RIA Petso Financial And Surpasses $6 Billion AUM

By Amit Chowdhry ● Nov 3, 2024

Modern Wealth Management—a registered investment advisory (RIA) firm founded to meet the evolving needs of today’s financial professionals and their clients—announced the acquisition of Boise, Idaho-based Petso Financial Consultants, a fee-only financial advisory firm with about $1.4 billion in assets under management (AUM). This deal is Modern Wealth’s eleventh acquisition to date and its sixth of the year, bringing its total AUM to over $6 billion.

Detectify: Majority Stake Acquired By Insight Partners

By Amit Chowdhry ● Nov 3, 2024

Detectify - an Attack Surface Management platform for AppSec teams powered by elite ethical hackers - announced that global software investor Insight Partners has acquired a majority stake in the company. The deal involved securing funding to accelerate product innovation and drive profitable growth.

Acuity Buying QSC In $1.215 Billion Deal

By Amit Chowdhry ● Nov 2, 2024

Market-leading industrial technology company Acuity Brands announced it has reached a definitive agreement to acquire QSC for a purchase price of $1.215 billion - or $1.1 billion net of approximately $100 million in the present value of expected tax benefits. This net purchase price represents approximately 14 times QSC’s estimated EBITDA for the last twelve months ending August 31, 2024. It is expected to be accretive to Acuity’s’ fiscal 2025 full-year adjusted diluted earnings per share.

B. Riley: $236 Million Brand Asset Deal Completed

By Amit Chowdhry ● Nov 2, 2024

B. Riley Financial announced it and its subsidiary bebe stores have completed a deal for their brand assets yielding approximately $236 million in cash proceeds to B. Riley.

Parsons Acquiring BCC Engineering For $230 Million

By Amit Chowdhry ● Nov 2, 2024

Parsons will acquire BCC Engineering (a Florida-based transportation engineering firm) for $230 million in cash. BCC (owned by Trivest Partners) offers planning, design, and management services for projects in Florida, Georgia, Texas, South Carolina, and Puerto Rico. This deal boosts Parsons’ infrastructure presence in the Southeastern U.S. and aligns with its strategy of buying high-growth companies with over 10% revenue growth and strong EBITDA margins.

Runway Growth Capital Combining With BC Partners Credit

By Amit Chowdhry ● Nov 1, 2024

Runway Growth Capital (a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity) and BC Partners Credit (the $8 billion credit arm of BC Partners, an approximately $40 billion assets under management alternative investment firm) announced a definitive agreement whereby BC Partners Credit will acquire Runway.

Altair To Be Acquired By Siemens For $10.6 Billion

By Amit Chowdhry ● Oct 30, 2024

Altair - a leader in computational intelligence - announced that it has entered into a definitive agreement to be acquired by Siemens, a leading technology company focused on industry, infrastructure, mobility, and healthcare. Altair's stockholders will receive $113 per share in cash, representing an equity value of approximately $10.6 billion.

Keurig Dr Pepper Buying Energy Drink Company GHOST In $1+ Billion Deal

By Amit Chowdhry ● Oct 29, 2024

Keurig Dr Pepper announced that it has entered into a definitive agreement to acquire GHOST Lifestyle LLC and GHOST Beverages LLC. Launched in 2016, GHOST is a lifestyle sports nutrition business with a portfolio anchored by GHOST Energy (a leading ready-to-drink energy brand).

AbbVie To Buy Aliada Therapeutics In $1.4 Billion Deal

By Amit Chowdhry ● Oct 29, 2024

AbbVie and Aliada Therapeutics announced a definitive agreement under which AbbVie will buy Aliada, a biotechnology company advancing therapies using a novel blood-brain barrier (BBB)-crossing technology to address challenging central nervous system (CNS) diseases. And Aliada's lead investigational asset utilizing this delivery technology, ALIA-1758, is an anti-pyroglutamate amyloid beta (3pE-Aβ) antibody in development for treating Alzheimer's disease.

Cyera Buys Trail Security For $162 Million

By Amit Chowdhry ● Oct 23, 2024

Cyera announced the acquisition of Trail Security - which is a next-generation data loss prevention (DLP) company - for $162 million. This deal marks a key milestone for Cyera, the three-year-old cybersecurity company valued at over $1.4 billion as it continues to expand its AI-driven platform.

Citizens Onboards $600 Million Florida-Based Team

By Amit Chowdhry ● Oct 23, 2024

Citizens Financial Group announced that it is welcoming a new team of seasoned wealth advisors, led by Stephen LaForte and Jonathan Soto, as part of its ongoing strategy to accelerate wealth capabilities in key markets across the U.S. Based in Boca Raton, these senior advisors bring more than four decades of combined experience in wealth management and previously managed approximately $600 million in client assets. They specialize in customized wealth management solutions for high-net-worth and ultra-high-net-worth individuals, families, and businesses.

DNA Fund Buys Coral Capital To Invest An Additional $50+ Million In Web3 And AI Companies

By Amit Chowdhry ● Oct 23, 2024

DNA Fund, an investor in high-ticket emerging tech and web3 investments, has announced its acquisition of Coral Capital Holdings. This established investment management firm has previously managed millions in the DNA founders' personal funds.

Cresset Buying CH Investment Partners, Bringing Firm To $62 Billion In Assets

By Amit Chowdhry ● Oct 19, 2024

Cresset Asset Management announced an acquisition of CH Investment Partners, a $6.2 billion multi-family office and private investment firm serving ultra-high-net-worth families. Through this acquisition, the integrated firm will manage more than $62 billion in assets for high-net-worth and ultra-high-net-worth families.

Kestra: Funds Managed By Stone Point Agrees To Buy Majority Interest In Parent Partnership

By Amit Chowdhry ● Oct 19, 2024

Kestra Holdings announced that funds managed by Stone Point Capital (a leading private equity firm focused on global financial services and related industries) has agreed to buy a majority interest in the parent partnership of the company, replacing current partner Warburg Pincus. Private equity firm Oak Hill Capital will remain a minority owner. And the Kestra Holdings management team and a large number of Kestra-affiliated financial advisors and Bluespring-affiliated principals will retain equity positions in the company. Bluespring Wealth Partners is the acquisition arm of Kestra Holdings.

LPL Onboards $340 Million Morristown Wealth Management And $685 Million Air Capital Teams

By Amit Chowdhry ● Oct 18, 2024

LPL Financial announced that it onboarded a couple of teams recently. This includes Morristown Wealth Management and Air Capital.