Mergers & Acquisitions

OpenAI Acquires Database Analytics Company Rockset

By Amit Chowdhry ● Jun 25, 2024

OpenAI announced it has acquired search and database analytics company Rockset to enhance retrieval infrastructure for making AI more helpful. The terms of the deal were undisclosed.

CBRE Acquiring Data Center Infrastructure Company Direct Line Global

By Amit Chowdhry ● Jun 25, 2024

CBRE Group announced the acquisition of Direct Line Global, a provider of data center infrastructure for the world’s leading technology companies, from private equity firm Guardian Capital. And the acquisition is expected to be immediately accretive to CBRE’s core earnings-per-share.

Allworth Financial Acquires $220 Million Del Monte Group

By Amit Chowdhry ● Jun 24, 2024

Allworth Financial announced it has acquired Northern California-based Del Monte Group - which brings the firm to 18 California locations and 42 offices nationwide. The financial terms of the agreement were not disclosed.

Wealth Enhancement Group Acquires $219 Million RIA Atlas Fiduciary Financial

By Amit Chowdhry ● Jun 24, 2024

Wealth Enhancement Group, a national independent wealth management firm with $85 billion in client assets, announced it acquired Atlas Fiduciary Financial, an independent RIA with two offices in Sarasota, Florida and Oakland, New Jersey.

NewEdge Advisors Brings In $540 Million RIA Team Stonebridge Financial Partners Of Michigan

By Amit Chowdhry ● Jun 24, 2024

NewEdge Advisors, a leading New Orleans-based RIA supporting successful independent financial advisors nationwide, announced that Stonebridge Financial Partners, a Michigan-based team, has joined the firm from Carson Wealth where they were overseeing approximately $540 million in client assets.

LPL Financial Adds $250 Million Russell Wealth Partners Team

By Amit Chowdhry ● Jun 24, 2024

LPL Financial announced that financial advisor Tom Russell, CFP, and his sons Brian Russell and Charles Russell have joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Russell Wealth Partners. And the family team reported serving approximately $250 million in advisory, brokerage and retirement plan assets and joins LPL from Merrill Lynch. They will operate out of the Linsco suite at LPL’s San Diego campus.

Riskonnect Buying GRC Enterprise Software Company Camms

By Amit Chowdhry ● Jun 24, 2024

Riskonnect, a leader in integrated risk management (IRM) solutions, announced the acquisition of Camms, a leading provider of enterprise cloud-based software for governance, risk, and compliance (GRC). And this acquisition fuels innovation for Riskonnect and drives new value for customers of the combined organization by equipping them to bring all aspects of risk under one roof with an enhanced suite of solutions.

Transtar Holding Acquiring Aftermarket Parts Company PPi Automotive

By Amit Chowdhry ● Jun 24, 2024

Blue Point Capital Partners and its portfolio company Transtar Holding Company announced the acquisition of PPi Automotive, a family-owned and -operated automotive parts wholesale distributor. The deal marks Transtar Holding Company’s third general repair acquisition and fourth acquisition overall since February 2023.

RXO To Buy Coyote Logistics From UPS For $1.025 Billion

By Amit Chowdhry ● Jun 23, 2024

RXO entered into a definitive agreement to buy Chicago-based asset-light freight brokerage business Coyote Logistics for $1.025 billion from UPS. The deal is expected to close by the end of the year, subject to regulatory review and approval.

Equitable Advisors Brings In $326 Million Team

By Amit Chowdhry ● Jun 23, 2024

Equitable, a leading financial services organization and principal franchise of Equitable Holdings announced that Lori Brown and Jim Carroll have joined its wealth management business, Equitable Advisors.

Atwell Buys Biscayne Engineering To Expand In South Florida

By Amit Chowdhry ● Jun 23, 2024

Atwell announced it has acquired Biscayne Engineering, an engineering and surveying company with offices in Miami and Boca Raton, Florida. And this acquisition expands Atwell’s already robust presence in Florida, adding over 50 employees, and will be the company’s first office in Miami. Terms of the transaction were not disclosed.

Summit Trail Expands Nationally With Addition Of $3 Billion Key Client Group

By Amit Chowdhry ● Jun 23, 2024

Summit Trail Advisors, a leading boutique wealth management firm with $18 billion in client assets, announced the addition of the former Key Client Group of BNP Paribas/Bank of the West to its roster of professionals, serving ultra-high net worth (UHNW) individuals, families, and institutions nationwide.

Arax Investment Partners Buys $1.7 Billion RIA SRS Capital Advisors

By Amit Chowdhry ● Jun 23, 2024

Arax Investment Partners, a premier wealth management platform company backed by RedBird Capital Partners, announced the addition of SRS Capital Advisors, an established Registered Investment Advisor (RIA) to the company’s multi-partner wealth management platform.

Honeywell Buying CAES Systems From Advent In A $1.9 Billion All-Cash Deal

By Amit Chowdhry ● Jun 21, 2024

Honeywell has agreed to acquire CAES Systems Holdings from private equity firm Advent International for about $1.9 billion in an all-cash transaction. This deal represents about 14 times the estimated 2024 EBITDA on a tax-adjusted basis.

Market Intelligence Company AlphaSense Buying Tegus And Raises $650 Million At $4 Billion Valuation

By Amit Chowdhry ● Jun 20, 2024

AlphaSense, a leading market intelligence and search platform, announced an agreement to buy Tegus, a leading provider of expert research, unique private company content, and financial data and workflow tools. As part of this deal, AlphaSense also raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners, and joined by new investors, J.P. Morgan Growth Equity Partners, SoftBank Vision Fund 2, Blue Owl, Alkeon Capital, and existing investors Alphabet's CapitalG and Goldman Sachs Alternatives. This raise brought AlphaSense's valuation to $4 billion.

Simulations Plus Acquiring Pro-ficiency For $100 Million In Cash

By Amit Chowdhry ● Jun 20, 2024

Simulations Plus (a leading provider of modeling and simulation software and services for pharmaceutical safety and efficacy) announced the acquisition of Pro-ficiency Holdings and its subsidiaries, a leader in providing simulation-enabled performance and intelligence solutions for clinical and commercial drug development. Simulations Plus had acquired Pro-ficiency from QHP Capital, L.P. (management company for NovaQuest Private Equity) and Pro-ficiency’s minority shareholders for about $100 million in cash.

Merlin To Acquire AI And Autonomy Company EpiSci

By Amit Chowdhry ● Jun 20, 2024

Merlin, a leading developer of safe, autonomous flight technology for fixed-wing aircraft, and EpiSys Science (a software AI and autonomy company delivering groundbreaking solutions for dual-use applications) announced that they have agreed to terms for the future acquisition of EpiSci by Merlin.

LPL Brings In $500 Million Highway One Capital Team

By Amit Chowdhry ● Jun 20, 2024

LPL Financial announced that financial advisors Tim Woodall and Dustin Raring launched a new independent practice called Highway One Capital, through affiliation with LPL Financial’s supported independence model LPL Strategic Wealth Services. The team reported having served approximately $500 million in advisory, brokerage, and retirement plan assets and joins LPL from First Republic, now part of JPMorgan Chase.

Satisfi Labs Buys Omnichannel Marketing Automation Company Factoreal

By Amit Chowdhry ● Jun 18, 2024

Satisfi Labs, an AI-based Conversational Experience Platform for destinations and experiences, announced it has acquired Factoreal, an omnichannel marketing automation platform that focused on simplifying the marketing technology experience across sports and entertainment.