Mergers & Acquisitions

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.

Raymond James: $115 Million New Mexico-Based Advisor Joins

By Amit Chowdhry ● Jun 17, 2024

Kirk Bell, Central division director for Raymond James Financial Services (RJFS), announced financial advisor Devona Benavidez, CFP, CDFA to RJFS - which is an independent advisor channel. Benavidez joins the team at ZeroThreeSixty Wealth Partners in Albuquerque, New Mexico, along with branch associates Mackenzie Merony and Jacqueline Martinez.

LPL Adds $275 Million Lifetime Legacy Wealth Solutions Team

By Amit Chowdhry ● Jun 17, 2024

LPL Financial announced that financial advisor David Hilbig, CFP, has joined LPL Financial’s broker-dealer, RIA and custodial platforms. He reported serving approximately $275 million in advisory, brokerage, and retirement plan assets and joined LPL from Corebridge Financial, formerly Valic (a subsidiary of AIG). Hilbig lives in The Woodlands, Texas, area and maintains a registered office in Mundelein, Illinois, he has over 20 years of experience crafting personalized financial strategies tailored to each client's unique needs and aspirations. And he takes a holistic approach to financial planning, encompassing areas such as wealth management, retirement planning, investment advisory, and risk management.

Proactive Security Company NetSPI Acquires Hubble

By Amit Chowdhry ● Jun 17, 2024

Proactive security solution company NetSPI announced the acquisition of Hubble Technology, a Northern Virginia-based cyber asset attack surface management (CAASM) and cybersecurity posture management solution. The integration of Hubble's Asset Intelligence and CAASM product, Aurora, into The NetSPI Platform will empower security teams to achieve complete visibility of their rapidly evolving attack surfaces and tackle asset and exposure management challenges.

Rental Economy Loyalty Company Stake Buys Circa For $9.5 Million

By Amit Chowdhry ● Jun 17, 2024

Stake, a loyalty company for the rental economy, announced the acquisition of rent payments company Circa for $9.5 million in cash and stock. The acquisition creates a first for the rental economy: delivering no-fee rent payments with instant Cash Back for renters. Free payment processing and success-based collections management are now available alongside Stake's loyalty, renter banking services, and incentive optimization services.

Kestra Financial Brings In $400 Million Lodi Wealth Team

By Amit Chowdhry ● Jun 17, 2024

Kestra Financial, a leading wealth management platform, announced the onboarding of wealth management firm Lodi Wealth Advisors. Since its founding in Westchester County, New York, Lodi Wealth Advisors has prioritized serving clients and helping them achieve their financial, business, and life goals. The firm features a dedicated advisor duo that works diligently to provide a white-glove experience for its high-net-worth clientele, including the development of bespoke portfolios.

LPL: $300 Million Advisor Duo Team Launches 1818 Wealth Management

By Amit Chowdhry ● Jun 17, 2024

LPL Financial announced that financial advisors Stephen Shevlin and Jonathan Joelner, MBA, have joined LPL Financial’s broker-dealer, RIA and custodial platforms to launch a new independent practice 1818 Wealth Management. And the team reported having served about $300 million in advisory, brokerage and retirement plan assets* and joins LPL from Stifel, Nicolaus and Co.

Clearhaven Partners Buys Software-Defined Video Platform Zixi

By Amit Chowdhry ● Jun 16, 2024

Zixi, a provider of Software-Defined Video Platforms (SDVP) and the industry leader for enabling reliable, scalable, and cost-efficient live video transport over Internet protocol networks, announced that private equity firm Clearhaven Partners, along with Zixi's executive team, has completed a significant investment in the company to drive it to the next stages of growth.

Greater Sum Ventures Acquires Law Enforcement Platform Company Kologik

By Amit Chowdhry ● Jun 16, 2024

Entrepreneurial family office and growth equity firm Greater Sum Ventures (GSV) announced the acquisition of Kologik, a leader in responsive, scalable, and user-friendly software for law enforcement agencies.

Intuit To Buy Technology From Zendrive

By Amit Chowdhry ● Jun 15, 2024

Intuit, a global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced it signed an agreement to acquire technology from leading mobility risk intelligence provider Zendrive.

Addus HomeCare Buying Gentiva’s Personal Care Operations For $350 Million

By Amit Chowdhry ● Jun 15, 2024

Addus HomeCare, a provider of home care services, announced a definitive agreement to acquire Gentiva's personal care operations for an anticipated purchase price of approximately $350 million after customary purchase price adjustments.

Hudson Acquiring USA Refrigerants In $20.7 Million Deal

By Amit Chowdhry ● Jun 14, 2024

Hudson Technologies announced the acquisition of substantially all of the assets of USA United Suppliers of America (d/b/a USA Refrigerants) for $20.7 million, subject to customary post-closing adjustments, and up to an additional $2 million in potential earnout payments. USA is a national refrigerant distributor and it has been a leading purchaser of recovered refrigerants for over 25 years.

Beacon Pointe Expanding Into PNW By Acquiring $775 Million Joslin Capital Team

By Amit Chowdhry ● Jun 14, 2024

Beacon Pointe Advisors announced a recent partnership with Joslin Capital Advisors. Based in Redmond, Washington, Joslin Capital is Beacon Pointe’s second RIA acquisition this year and brings about $775 million in client assets under advisement to Beacon Pointe.

Wealth Enhancement Group Adds $658 Million Gavin Financial Team

By Amit Chowdhry ● Jun 14, 2024

Wealth Enhancement Group, a national independent wealth management firm with $82.1+ billion in client assets, announced that it joined forces with Gavin Financial Group in Midland, Michigan. This team of five manages over $658 million in client assets and is led by Owner and Financial Advisor, Michael Gavin, CFP.

Raymond James Adds $500+ Million Alaska-Based Advisor Team

By Amit Chowdhry ● Jun 14, 2024

Michael O'Meara, Midwest regional director for the firm's employee advisor channel Raymond James & Associates (RJA) welcomed financial advisors Keith Green, CFP, CIMA, and Jon Coon, CPFATM, MBA, in Anchorage, Alaska.

LPL Financial Brings In $265 Million Generational Asset Planning And Cousino Teams

By Amit Chowdhry ● Jun 14, 2024

LPL Financial announced it added a couple of teams that both reported serving $265 million in advisory, brokerage and retirement plan assets each.

Cresset Acquires Connable Office To Enhance Services

By Amit Chowdhry ● Jun 13, 2024

Cresset Asset Management announced its acquisition of The Connable Office, one of the nation's oldest multi-family offices. Based out of Kalamazoo, Michigan and organized as a private trust company, Connable has been carried forward for over 130 years. With this acquisition, the combined firm will manage more than $52 billion in assets on behalf of high-net-worth and ultra-high-net-worth clients.

Voodoo Buying BeReal For €500 Million

By Amit Chowdhry ● Jun 13, 2024

France-based mobile and game publisher company Voodoo announced it has acquired BeReal for €500 million. In connection with the acquisition, BeReal co-founder and CEO Alexis Barreyat will leave the company following a transition period. And Wizz CEO Aymeric Roffé (a Voodoo social media app) will become BeReal’s CEO.