Mergers & Acquisitions

Kestra PWS Brings In $87 Million Advisor Rachel Eisenhart

By Amit Chowdhry ● Aug 18, 2024

Kestra Private Wealth Services (Kestra PWS), a registered investment adviser subsidiary of Kestra Financial has welcomed Rachel Eisenhart CFP, ChFC, AAMS to its community of independent financial professionals, in partnership with Alexandria, Virginia-based HF3 Wealth Partners (HF3), which joined the Kestra network in 2022.

Vista Equity Partners Buys Enterprise Procurement Company JAGGAER

By Amit Chowdhry ● Aug 17, 2024

Vista Equity Partners announced the acquisition of JAGGAER, a global leader in enterprise procurement and supplier collaboration software, from Cinven. The terms of the transaction were not disclosed.

H.I.G. Capital Affiliate Acquires Axis Europe Limited

By Amit Chowdhry ● Aug 17, 2024

H.I.G. Capital - a leading global alternative investment firm with $64 billion of capital under management - announced that one of its affiliates has acquired Axis Europe Limited, a leading UK provider of property maintenance services, from its founder and owner, John Hayes. Hayes will reinvest alongside H.I.G. and join the board as a non-executive director. The financial terms of the transaction have not been disclosed.

PE Firm Fort Point Capital Buys NewBold

By Amit Chowdhry ● Aug 17, 2024

Fort Point Capital (a Boston-based private equity firm) announced that it has acquired NewBold Corporation, a leading provider of managed technology services to the quick service restaurant, retail, warehousing, and healthcare industries.

EQT Buying PropertyGuru For $1.1 Billion

By Amit Chowdhry ● Aug 16, 2024

PropertyGuru Group - Southeast Asia’s leading property technology company - announced that it has entered into an agreement and plan of merger with affiliates of BPEA Private Equity Fund VIII Limited (part of EQT AB, a purpose-driven global investment organization) under which EQT Private Capital Asia will acquire the company in an all-cash transaction that values PropertyGuru at an equity value of approximately $1.1 billion.

Roper Technologies To Buy Transact Campus In $1.5 Billion Deal

By Amit Chowdhry ● Aug 15, 2024

Roper Technologies announced today that it has entered into a definitive agreement to acquire Transact Campus for a net purchase price of $1.5 billion. This includes a $100 million tax benefit resulting from the transaction.

The Retirement Planning Group Brings In $180 Million Watters Financial Team

By Amit Chowdhry ● Aug 14, 2024

Cetera Holdings announced that Cetera's employee-based RIA The Retirement Planning Group (TRPG) has acquired Watters Financial Services. With about $180 million in assets under management (as of March 31, 2024), the father-son team at Watters Financial Services is based in Paramus, New Jersey and led by Tim Watters, CFP, and Colin Watters, CFP, (father and son, respectively).

Ameriprise Financial Brings In $150 Million Advisor

By Amit Chowdhry ● Aug 14, 2024

Financial advisor Michael Walstien has recently joined the branch channel of Ameriprise Financial from UBS Financial Services with $150 million in assets in Wayzata, Minnesota.

Bluespring Wealth Partners Buys $1.35 Billion Rodgers & Associates Wealth Advisers

By Amit Chowdhry ● Aug 14, 2024

Bluespring Wealth Partners, a leading acquirer of independent RIAs and hybrid wealth management firms, announced the acquisition of Rodgers & Associates Wealth Advisers (Rodgers & Associates), a wealth management firm specializing in retirement planning based in Lancaster, Pennsylvania. This deal comes shortly after Bluespring’s fifth anniversary celebration and brings the company’s community of partner firms to 27 total.

Mars To Buy Kellanova In $35.9 Billion Deal

By Amit Chowdhry ● Aug 14, 2024

Mars, a family-owned global leader in pet care, snacking and food, and Kellanova, a leading company in global snacking, international cereal and noodles, North American plant-based foods and frozen breakfast foods, today announced that they have entered into a deal under which Mars has agreed to acquire Kellanova for $83.50 per share in cash (for a total consideration of $35.9 billion, including assumed net leverage).

LPL Brings In $180 Million SoundWay Financial Team

By Amit Chowdhry ● Aug 12, 2024

LPL Financial announced that financial advisors with SoundWay Financial have joined LPL Financial’s broker-dealer, RIA and custodial platforms - which is aligned with existing firm Balmville Wealth Group (BWG). And they serve about $180 million in advisory, brokerage and retirement plan assets* and join LPL from Cetera.

KKR Buying Majority Stake In FGS ($1.7 Billion Deal)

By Amit Chowdhry ● Aug 11, 2024

KKR announced the acquisition of WPP’s full equity position in FGS Global, a major global communications and public affairs consultancy. The proposed deal is supported by FGS management, builds on KKR’s initial minority investment in July 2023, and values FGS at $1.7 billion.

Robertson Stephens Brings In $530 Million Ratio Wealth Team

By Amit Chowdhry ● Aug 11, 2024

Robertson Stephens Wealth Management announced its fourth acquisition of the year and strategically expanded its presence in Colorado with the addition of Ratio Wealth Group, an SEC-registered investment advisor managing over $530 million in advisory assets. And Derek Scarth and Graham Gerlach, co-founders of Ratio Wealth Group, join Robertson Stephens with their team, including Josh Freedman, Nancy Kimball, Becky Neils, Jen Padgett, Jack Seavall, and Shawn Wallace.

Outbrain And Teads Merging In $1 Billion Deal

By Amit Chowdhry ● Aug 8, 2024

Outbrain, a platform that drives business outcomes through engagement, announced it has entered into a definitive agreement to acquire Teads, the global omnichannel video platform.

Ziff Davis Buying CNET For Over $100 Million, Says Report

By Amit Chowdhry ● Aug 8, 2024

Ziff Davis announced it is buying CNET for over $100 million. CNET was originally founded in 1994 and the company went public two years later. Then CBS bought CNET in 2008 for $1.8 billion in a deal to take the company private. Then in 2020, Paramount Global sold CNET to Red Ventures for $500 million.

Avantax Brings In $150 Million S&P Financial Services And $300 Million Noble Oak Teams

By Amit Chowdhry ● Jul 31, 2024

Avantax, a unique community within Cetera Holdings and a leader in tax-focused financial planning and wealth management, announced two major acquisitions: S&P Financial Services and Noble Oak.

The Exigent Group Buying Smith-Boughan And Electrical Automation Services

By Amit Chowdhry ● Jul 30, 2024

Leading lower middle-market private equity firm Huron Capital announced its portfolio company The Exigent Group acquired Smith-Boughan Mechanical along with Electrical Automation Systems (EASI) in a separate deal.

KKR Buying Fire Equipment Inspection Company Marmic Fire & Safety

By Amit Chowdhry ● Jul 30, 2024

Leading global investment firm KKR announced that its investment funds have acquired Marmic Fire & Safety, a leading provider of regulation-mandated fire equipment inspection, testing, and maintenance services from HGGC. The financial terms were not disclosed.

ServiceNow Buys Raytion For Enhancing GenAI-Based Technologies

By Amit Chowdhry ● Jul 29, 2024

ServiceNow announced it has acquired Raytion to enhance GenAI‑powered search and knowledge management capabilities on the Now Platform. And Raytion’s industry‑leading information retrieval technology will enable unified real‑time access for business‑critical data across multiple enterprise sources for a more powerful and personalized AI search experience, all on a single technology platform.

Barings To Invest In Diversified Packaging

By Amit Chowdhry ● Jul 26, 2024

Barings (one of the world’s leading investment managers) announced it has provided a second lien debt and equity co-investment to support Mill City Capital’s recapitalization of Diversified Packaging Holdings. Based in Blaine, Minnesota, Diversified Packaging provides pre-press products and services to the packaging industry, serving commercial printing companies, corrugate packaging companies, and various other customers across the upper Midwest U.S.