Mergers & Acquisitions

NewEdge Advisors Onboards $318 Million BFS Advisory Group

By Amit Chowdhry ● Sep 29, 2024

NewEdge Advisors - a leading New Orleans-based RIA supporting independent financial advisors nationwide - announced that Dallas-based BFS Advisory Group joined the firm from Osaic, where the team was overseeing approximately $318 million in client assets.

Salesforce To Buy Data Management Provider Zoomin

By Amit Chowdhry ● Sep 29, 2024

Salesforce announced it has signed a definitive agreement to acquire Zoomin, a leading data management provider for unstructured data. And Salesforce Data Cloud, with Zoomin’s capabilities, will accelerate the unlocking of unstructured data for powering AI agents, making them more personalized and context-aware in every customer interaction.

HP Advances Workforce Experience Platform With Vyopta Acquisition

By Amit Chowdhry ● Sep 29, 2024

HP announced it acquired Vyopta, an Austin-based provider of collaboration management solutions. Vyopta offers analytics and monitoring for large and unified communications and collaboration (UC) networks. It brings extensive expertise and infrastructure to turbocharge the development of HP’s Workforce Experience Platform and provide customers with more insights and capabilities.

L Catterton Buying Majority Stake In [solidcore]

By Amit Chowdhry ● Sep 29, 2024

Consumer-focused investment firm L Catterton has signed a definitive agreement to acquire a majority stake in [solidcore] from VMG Partners, Kohlberg & Company, and Peterson Partners. And [solidcore] is a national network of fitness studios providing targeted strength training on custom-built reformers. This investment solidifies [solidcore] as the nation’s authority in its category and will continue to position the business for growth in the future.

Apogee To Buy UW Interco For $240 Million

By Amit Chowdhry ● Sep 29, 2024

Apogee Enterprises announced that it has entered into a definitive agreement to acquire UW Interco from Heartwood Partners for $240 million in cash, subject to customary closing conditions. The deal is expected to close during the company’s fiscal 2025 third quarter.

TRG Merges Capabilities With Inversion6

By Amit Chowdhry ● Sep 29, 2024

TRG, a privately owned global managed services provider, announced that it has merged capabilities with its TruWest Holdings sister company, Inversion6, and added cybersecurity to its comprehensive endpoint management capabilities list.

Professional Services Firm TRC Buys Garanzuay Consulting

By Amit Chowdhry ● Sep 28, 2024

TRC Companies, a global professional services firm providing integrated strategy, consulting, engineering and applied technologies in support of the energy transition, announced it has acquired Garanzuay Consulting, an advisory and implementation consulting firm with a focus on the systems and service providers used by transmission system operators, utilities, energy market operators and their participants.

Visa To Buy AI-Based Payments Protection Company Featurespace

By Amit Chowdhry ● Sep 28, 2024

Visa announced it signed a definitive agreement to acquire Featurespace, a developer of real-time artificial intelligence (AI) payments protection technology that prevents and mitigates payment fraud and financial crime risks. The acquisition of Featurespace will complement and strengthen Visa’s portfolio of fraud detection and risk-scoring solutions, which are used by clients around the world to grow and protect their businesses.

Custom Portfolio Group Joining Transform Wealth

By Amit Chowdhry ● Sep 28, 2024

Focus Financial Partners - a leading partnership of fiduciary wealth management and related financial services firms - announced that it has entered into a definitive agreement under which Custom Portfolio Group (CPG) will formally join Focus partner firm Transform Wealth.

Avantax Buys SEP Financial Services From Stephen Plain

By Amit Chowdhry ● Sep 28, 2024

Avantax—a unique community within Cetera Holdings and a leader in tax-focused financial planning and wealth management—announced it acquired SEP Financial Services. The company was founded by veteran independent financial advisor Stephen E. Plain, who has been affiliated with Avantax for 25 years.

Axis Insurance Buys Baker And Expands Calgary Operations

By Amit Chowdhry ● Sep 28, 2024

Axis Insurance Managers announced the acquisition of Baker Insurance, a respected property and casualty brokerage based in Calgary. And this strategic move strengthens Axis’ presence in the region and enhances its ability to provide expert risk management solutions.

Grid Dynamics Acquiring UK-Based Software Engineering Services Company JUXT

By Amit Chowdhry ● Sep 28, 2024

Grid Dynamics Holdings, a provider of technology consulting, platform and product engineering, AI, and digital engagement services, announced the acquisition of JUXT, a UK-based provider of software engineering services specializing in data-intensive information systems for banking and other financial institutions, with a particular focus on risk platforms, structured notes, equity derivatives, and financial reporting.

Graco Signs Deal To Buy Corob Up To €260 Million

By Amit Chowdhry ● Sep 28, 2024

Graco announced that it has entered into a definitive agreement to acquire Corob for €230 million, subject to customary adjustments, with up to €30 million in additional contingent consideration. This deal is expected to close in Graco’s fiscal fourth quarter following the satisfaction of customary closing conditions. And Corob had revenue of €110 million in 2023.

Ares Management To Buy Walton Street Mexico In $2.1 Billion Deal

By Amit Chowdhry ● Sep 28, 2024

Ares Management announced that one of its subsidiaries has entered into a definitive agreement to buy 100% of Walton Street Capital Mexico S. de R.L. de C.V. and certain of its affiliates (“Walton Street Mexico”), a leading real estate asset management platform focused primarily on the industrial sector with US$2.1 billion in assets under management as of June 30, 2024, from Walton Street Capital.

Syntiant Buying Knowles’ Consumer MEMS Microphone Division In $150 Million Deal

By Amit Chowdhry ● Sep 28, 2024

Syntiant, a leader in low-power edge AI deployments, announced it signed a definitive agreement to acquire certain assets of Knowles Corporation’s Consumer MEMS Microphones (CMM) business. Syntiant will pay $150 million in cash and stock for Knowles’ CMM business, which generated revenues of $256 million in FY 2023 and $136 million in the first half of 2024. Structural Capital and Boardman Bay Capital Management are leading this financing.

True North Advisors Onboards $470 Million Clear Rock Advisors Team

By Amit Chowdhry ● Sep 27, 2024

True North Advisors, a Texas-based registered investment adviser (RIA) with $3.9 billion in Assets Under Management (AUM) has acquired Clear Rock Advisors, a wealth management and investment firm managing about $470 million in AUM, with offices in Dallas, Austin, and Kerrville, Texas.