Mergers & Acquisitions

Avantax Brings In $120 Million Financial Advisor Erin Hinzmann

By Amit Chowdhry ● Jun 10, 2024

Avantax, a leader in tax-focused financial planning and wealth management, announced it welcomed Erin Hinzmann - who joined Avantax Wealth Management via Alliance Wealth Strategies. Hinzmann was previously affiliated with Ameriprise Financial and had about $120 million in client assets under administration as of May 2024.

Society Brands To Buy Vitality Now

By Amit Chowdhry ● Jun 10, 2024

Society Brands, a consumer products company built for and by founders, partnered with the founders of Vitality Now for Society’s latest acquisition in the Direct-To-Consumer Health and Personal Care space, which will represent their fifth consecutive deal in this sector.

Wealth Enhancement Group Adds $1.22+ Billion The Financial Advisory Team

By Amit Chowdhry ● Jun 9, 2024

Wealth Enhancement Group, a national independent wealth management firm with over $81.5 billion in client assets, announced that it will join forces with The Financial Advisory Group, LLC, an independent RIA in Houston, Texas. The team of seven financial advisors and 14 support team members manages over $1.22 billion in client assets and is led by founder, Richard J. Alphonso, J.D., CPA/PFS, M.S.T., AEP.

KKR Buying Majority Ownership In Agiloft

By Amit Chowdhry ● Jun 7, 2024

Leading global investment firm KKR announced that a fund managed by KKR has entered into an agreement to acquire a majority stake in Agiloft, a trusted global leader in data-first contract lifecycle management (CLM). As part of the deal, FTV Capital (a sector-focused growth equity firm and an existing investor in Agiloft) will make an additional investment in the company and JMI Equity (a growth equity firm focused on investing in leading software companies) will join as a new investor in the company.

Cloudflare Buys Zero Trust Infrastructure Access Platform BastionZero

By Amit Chowdhry ● Jun 7, 2024

Leading connectivity cloud company Cloudflare has announced the acquisition of BastionZero, a Zero Trust infrastructure access platform. This deal further strengthen remote access to core IT systems for customers of Cloudflare One, which is the company’s secure access service edge (SASE) platform.

Deloitte Acquires End Point’s Disease Surveillance Assets CasePointer

By Amit Chowdhry ● Jun 6, 2024

Deloitte announced it had acquired substantially all of the assets of End Point's industry-leading disease surveillance business, CasePointer. This acquisition brings additional experienced and skilled software engineers, cloud developers, DevOps engineers, epidemiologists, and former public health officials to Deloitte.

Intel: 49% Of Irish Venture Selling To Apollo For $11 Billion

By Amit Chowdhry ● Jun 5, 2024

Intel and Apollo announced a definitive agreement under which Apollo-managed funds and affiliates will lead an investment of $11 billion to acquire a 49% equity interest in a joint venture entity related to Intel’s Fab 34 from Intel.

Greenbriar Equity Group Completes Acquisition Of Renuity

By Amit Chowdhry ● Jun 5, 2024

Greenbriar Equity Group announced that funds managed by Greenbriar completed the acquisition of Renuity, a tech-enabled home services platform, in partnership with company management, from York Capital Management’s private equity group and other minority investors. The terms of the private transaction were not disclosed.

KPS Capital Partners Buying Tate & Lyle’s Ownership Interest In Primient For $350 Million

By Amit Chowdhry ● Jun 4, 2024

KPS Capital Partners announced that it has entered into a definitive purchase agreement with Tate & Lyle to acquire Tate & Lyle’s remaining ownership interest of 49.7% in Primary Products Investments for $350 million. The transaction is expected to be completed by the end of July 2024 and is subject to customary closing conditions and approvals.

Steward Partners: $320 Million Advisor Team Added To Firm

By Amit Chowdhry ● Jun 4, 2024

Steward Partners, a full-service, employee-owned, independent financial services firm, announced a new partnership with Coastal 360 Capital Advisors. This partnership adds two advisors and over $320 million in assets under management to Steward Partners' roster.

Raymond James Brings In $225 Million Texas And $435 Million Massachusetts Teams

By Amit Chowdhry ● Jun 4, 2024

Raymond James has welcomed new teams from Texas and Massachusetts.

AuditBoard To Be Acquired By Hg For $3+ Billion

By Amit Chowdhry ● Jun 3, 2024

AuditBoard, a leading connected risk platform transforming audit, risk, compliance, and ESG management, has reached an agreement to be acquired in a deal valued at over $3 billion by Hg, an experienced and leading global investor in compliance, risk, and accounting software over the last 20 years.

Waste Management To Buy Stericycle For $7.2 Billion

By Amit Chowdhry ● Jun 3, 2024

Waste Management and Stericycle announced that they have entered into a definitive agreement under which WM will acquire all outstanding shares of Stericycle for $62 per share in cash, representing a total enterprise value of approximately $7.2 billion when including approximately $1.4 billion of Stericycle’s net debt.

Waverly Brings In $310 Million Derbend Asset Management Team

By Amit Chowdhry ● Jun 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 Derbend Asset Management (an investment advisory business based out of Peachtree City, Georgia).

LPL Financial Brings In $705 Million Advisory Team

By Amit Chowdhry ● Jun 3, 2024

LPL Financial announced that financial advisors Alain Verhille, CFP, CPFA, and James S. Wood have joined LPL Financial’s high-net-worth-focused employee affiliation model, LPL Private Wealth Management, for launching Auctus Legacy Private Wealth Management. These advisors reported serving approximately $705 million in advisory, brokerage, and retirement plan assets and joined LPL from Merrill Lynch.

Chameleon Buying Interactive Demo Company Driveway

By Amit Chowdhry ● Jun 1, 2024

Chameleon, a product adoption platform for modern software companies, announced that it has acquired interactive demo company Driveway. This acquisition enables Chameleon to expand into the interactive demo category and drive user onboarding via (existing) in-product and (new) ungated walkthroughs. The terms of the deal were not disclosed.

Evergrowth And Apolo Mktng Merge And Pre-Seed Increases To €2.5 Million

By Amit Chowdhry ● Jun 1, 2024

Evergrowth, an AI-powered B2B account-based sales platform, announced a merger with Apolo Mktng, which utilizes AI to deliver personalized marketing solutions. This merger brings together two innovative forces in AI technology to drive forward a more customer-centric approach to sales strategies.

ConocoPhillips Buying Marathon Oil In $22.5 Billion All-Stock Deal

By Amit Chowdhry ● May 29, 2024

ConocoPhillips and Marathon Oil announced today that they have entered into a definitive agreement. Pursuant to this agreement, ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 billion, including $5.4 billion of net debt.

LPL Financial: $225 Million Cornerstone Financial Advisers Team Joins

By Amit Chowdhry ● May 29, 2024

LPL Financial announced that financial advisors Lance Dumas, AIF, ChFC, and Darryl Carter, CPA, have joined LPL Financial’s broker-dealer, RIA, and custodial platforms. They reported serving approximately $225 million in advisory, brokerage, and retirement plan assets and joined LPL from Cetera.

T-Mobile Acquiring Substantially All Of UScellular’s Wireless Operations In $4.4 Billion Deal

By Amit Chowdhry ● May 29, 2024

T-Mobile and UScellular announced that T-Mobile has agreed to acquire substantially all of UScellular’s wireless operations, including UScellular’s wireless customers and stores, and certain specified spectrum assets. Upon the closing of the deal, T-Mobile’s leading 5G network will expand to provide millions of UScellular customers, particularly those in underserved rural areas, a better connectivity experience moving from a roaming experience outside of the UScellular coverage area to full nationwide access on the country’s largest and fastest 5G network.

Harness: Modern Software Delivery Company Buying Split

By Amit Chowdhry ● May 29, 2024

Harness, a Modern Software Delivery Platform company, today announced it entered into an agreement to buy Split Software, a leading Feature Management and Experimentation provider. This strategic deal will define a new standard in software delivery, empowering companies to innovate faster and more efficiently than ever before.

Robertson Stephens Strengthening Presence In Colorado With Addition Of Three Points Financial

By Amit Chowdhry ● May 28, 2024

Robertson Stephens Wealth Management further strengthened its presence in Colorado by welcoming Three Points Financial (an SEC-registered investment advisor managing about $118 million in advisory assets). Mary Alpers (founder of Three Points Financial) joins Robertson Stephens as Managing Director & Principal, and her office will become the new Robertson Stephens’ Colorado Springs office. And Mary’s team will also include her colleague of 17 years, Michelle Williamson.

SugarCRM Buys Sales Automation Platform Company sales-i

By Amit Chowdhry ● May 27, 2024

SugarCRM, a provider of the intelligence-driven sales automation platform, announced it has acquired sales-i, a leading provider of a revenue intelligence solution that helps businesses maximize their revenue and profitability. The terms of the deal were undisclosed.

Raymond James Brings In $435 Million Advisor Team

By Amit Chowdhry ● May 24, 2024

Kelly Anderson, the Northeast regional director for the firm's employee advisor channel Raymond James & Associates (RJA), announced that they have recently welcomed financial advisors Vincent "Vinny" Zaccardi, CRPCTM, CPWA, Nicholas "Nick" Zaccardi, CPWA, CPFA and Gerard Mattaliano, CFP to RJA.

Summit Financial: $370 Million Team Joins And Launches Kyros Private Wealth

By Amit Chowdhry ● May 24, 2024

Summit Financial Holdings, a leading architect of advisor success and client satisfaction for over four decades, announced the launch of Kyros Private Wealth. Based in Naples, Florida, this newly formed independent practice is led by founding partner and private wealth advisor William E. Clegg IV, CFP, CIMA. Formerly affiliated with UBS as The Clegg Group, Kyros represents the sixth firm this year to join Summit Growth Partners (SGP), a partnership that combines cash monetization with equity participation and exclusive partnership privileges.

LPL Brings In $4.6 Billion Pilot Financial Team

By Amit Chowdhry ● May 24, 2024

LPL Financial announced that Pilot Financial, a network of 105 advisors nationwide, has joined LPL Financial’s broker-dealer, RIA and custodial platforms. And the advisors reported serving approximately $4.6 billion in advisory and brokerage assets and join LPL from Lincoln Financial.

Baker Tilly Expanding In Bay Area Through Seiler Acquisition

By Amit Chowdhry ● May 22, 2024

Advisory CPA firm Baker Tilly US, LLP announced the acquisition of accounting and advisory firm Seiler LLP., effective July 1.

Cybersecurity Leader Lumifi Cyber Acquires Netsurion

By Amit Chowdhry ● May 22, 2024

Lumifi Cyber, a next-generation leader in the cybersecurity space, announced the acquisition of Netsurion, which is a 15-year-old Managed Extended Detection and Response (XDR) provider. This deal delivers enhanced security to Netsurion’s customer base through Lumifi’s US-based Security Operations Center (SOC) alongside Lumifi’s proprietary SHIELDVision platform and is a milestone in Lumifi’s larger goal to disrupt the managed detection and response (MDR) space.

Bluespring Wealth Partners Acquiring $750 Million KDI Team

By Amit Chowdhry ● May 21, 2024

Bluespring Wealth Partners (a leading acquirer of independent RIAs and hybrid wealth management firms) announced their acquisition of leading Scottsdale, AZ-based wealth management firm KDI Wealth Management.

Blackstone Buying Majority Stake In Priority Software

By Amit Chowdhry ● May 21, 2024

Blackstone announced that Blackstone Growth and affiliated funds have entered into a definitive agreement to buy a majority stake in Priority Software, a leading provider of mission-critical business software. And Blackstone’s investment will help build on the company’s position in the ERP software market and support its further growth across industries and markets.