Mergers & Acquisitions

Commonwealth Onboards $550 Million Asset Team Diversified Capital Management

By Amit Chowdhry ● Nov 22, 2024

Commonwealth Financial Network, a national RIA dedicated to providing financial advisors with integrated business solutions, announced that Syracuse, New York-based Diversified Capital Management (DCM) joined its network of independent financial advisors. Advisors include William Kriesel, CPA, CFP, PFS, Kevin Visconti, CFP, and George Nardone, ChFC, AIF. Formerly with Cadaret Grant and its acquirer LPL Financial, the DCM team reported advising on more than $550 million in client assets.

AppDirect To Buy IT Lifecycle Company vCom Solutions

By Amit Chowdhry ● Nov 22, 2024

Leading B2B subscription commerce platform AppDirect announced its intent to acquire vCom Solutions, an IT lifecycle management software and managed services company. Through this acquisition, AppDirect’s advisors and their end customers will gain access to vCom’s award-winning AI-based software platform vManager, vCom’s comprehensive suite of IT spend-managed services, while also gaining access to its buyers’ club QuantumShift.

Ameriprise Onboards $100 Million Client Assets Team Q5 Wealth

By Amit Chowdhry ● Nov 22, 2024

Q5 Wealth Management - a team of five financial advisors managing $1.5 billion in client assets in Houston and Beaumont, Texas - has recently expanded with the addition of financial advisor Scott Guptill, CFA. Q5 had joined the independent channel of Ameriprise Financial in August 2024 after transitioning from UBS Financial Services to significantly grow their practice by utilizing the sophisticated resources at Ameriprise.

Fifth Third Wealth Advisors Onboards $2 Billion Asset Team

By Amit Chowdhry ● Nov 22, 2024

Fifth Third Wealth Advisors, a multi-custodial registered investment advisory firm, announced the expansion of its presence in Charlotte, North Carolina. And the following advisor team joined Fifth Third Wealth Advisors having managed $2 billion in client assets at their previous firm:

TA Associates: Strategic Investment In Vee Healthtek

By Amit Chowdhry ● Nov 22, 2024

TA Associates announced the completion of a strategic growth investment in Vee Healthtek, a prominent provider of technology-enabled solutions and services for healthcare organizations. This partnership enables Vee Healthtek to utilize TA’s global resources and extensive experience in the healthcare sector.

Allworth Financial Acquires $839 Million AUM Firm City Fiduciary Group

By Amit Chowdhry ● Nov 21, 2024

Allworth Financial announced the acquisition of City Fiduciary Group, a tax planning and wealth management firm with offices in Washington and Oregon. And this partnership enhances Allworth’s presence in the Pacific Northwest and further augments its in-house tax expertise.

Creative Planning Acquires Buys $550 Million AUM Firm Edmonds Duncan

By Amit Chowdhry ● Nov 21, 2024

Creative Planning, one of the nation's leading Registered Investment Advisors (RIA), announced the acquisition of Lawrence, Kansas-based Edmonds Duncan Registered Investment Advisors. The deal closed on October 1, and six employees at Edmonds Duncan formally joined Creative Planning.

LPL Onboards $410 Million Nexus Wealth Partners Team

By Amit Chowdhry ● Nov 20, 2024

LPL Financial announced that the financial advisors at Nexus Wealth Partners have joined its broker-dealer, RIA, and custodial platforms. They reported serving approximately $410 million in advisory, brokerage, and retirement plan assets, joining LPL from Osaic.

Wynnchurch Capital Acquires LED Components Company Principal Industries

By Amit Chowdhry ● Nov 20, 2024

Wynnchurch Capital - a leading middle-market private equity firm - announced that it has acquired Principal Industries along with Principal’s founders, Bryan and Blake Vincent, and the management team.

Mercer Advisors Acquiring Chapel & Collins, Expanding Presence In Greater Denver Area

By Amit Chowdhry ● Nov 20, 2024

Mercer Global Advisors - a national Registered Investment Adviser (RIA) - announced the acquisition of Chapel & Collins, an RIA based in Fort Collins, Colorado. Managing about $675 million for over 500 individuals and families, Chapel & Collins specializes in serving business owners, retirees and pre-retirees, in addition to advising corporate retirement plans and providing institutional consulting services.

Stonepeak Acquiring $700 Million Private Credit Investment Firm Boundary Street Capital

By Amit Chowdhry ● Nov 20, 2024

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, announced that it has agreed to acquire Boundary Street Capital, LP - which is a leading specialist private credit investment manager focused on the digital infrastructure, enterprise infrastructure software, and technology services sectors in the lower middle market. And Boundary Street currently has $700+ million of capital commitments.

Growth Catalyst Partners Buys Technology And Science Strategy Group InspiredMinds!

By Amit Chowdhry ● Nov 20, 2024

Growth Catalyst Partners - a US-based private equity firm focused on investing in information, marketing, and tech-enabled services - announced the acquisition of U.K.-based InspiredMinds! InspiredMinds! is a rapidly growing and award-winning global technology and science strategy group at the center of the AI healthcare markets.

JobGet Buys Snagajob, Bringing Reach To Over 100 Million Hourly Workers

By Amit Chowdhry ● Nov 19, 2024

JobGet, a leading app-first job platform for hourly workers, announced the acquisition of Snagajob. This deal expands JobGet’s reach to over 100 million hourly workers, covering nearly the entire hourly workforce in the US.

Robinhood To Buy RIA Management Platform Company TradePMR In $300 Million Deal

By Amit Chowdhry ● Nov 19, 2024

Robinhood Markets agreed to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors (RIAs). With 25+ years in the industry and over $40 billion in assets under administration, TradePMR will enhance Robinhood’s customer offerings by delivering a top-ranked RIA custody and portfolio management platform that connects financial advisors to a new generation of investors.

Jersey Mike’s: Deal Signed With Blackstone For A Reported $8 Billion

By Amit Chowdhry ● Nov 19, 2024

Jersey Mike’s Subs, a leading franchisor of fast-casual submarine sandwich stores known for fresh grilled subs, announced it has reached an agreement under which private equity funds managed by Blackstone – led by Blackstone’s most recent flagship private equity vehicle – will buy a majority ownership position in Jersey Mike’s. While the official figure was undisclosed, sources with The Wall Street Journal reported the deal was valued at $8 billion.

OneCompass Strategically Invests In Evolve Global Logistics

By Amit Chowdhry ● Nov 18, 2024

OneCompass Holdings announced a strategic investment in Evolve Global Logistics (EGL), a minority-owned logistics company based in Columbus, Ohio. This funding strengthens Evolve's position in the logistics sector, as it works with leading corporations across various industries.

Wonder Buying Grubhub In $650 Million Deal And Raises $250 Million In Funding

By Amit Chowdhry ● Nov 14, 2024

Wonder - a food hall company that is creating a super app for meal time - announced that it is buying Grubhub. Grubhub is a leading food ordering and delivery company with over 375,000 merchants and 200,000 delivery partners across the United States. Integrating Grubhub into Wonder is the next step in Wonder’s goal of making great food more accessible, bringing together the convenience, speed, and selection of first-party and third-party restaurants, groceries, and meal kits in a single app order. Plus, all Wonder locations will be available on Grubhub for third-party delivery.

Velocity One Merging With EMCORE

By Amit Chowdhry ● Nov 11, 2024

Velocity One - a newly formed aerospace manufacturing holding company - announced it has signed a merger agreement with EMCORE Corporation, a provider of inertial navigation solutions to the aerospace and defense industry. Under this deal, EMCORE will become a wholly-owned subsidiary of Velocity One.

HMC Capital To Buy iseek In $A400 Million Deal

By Amit Chowdhry ● Nov 11, 2024

HMC Capital announced it has entered into agreements to acquire iseek, a leading Australian co-location data center operating platform, as part of an A$400 million deal.

ARCHIMED Buys DNA And RNA Gene Sequencing Company SeqCenter

By Amit Chowdhry ● Nov 11, 2024

Global private equity healthcare specialist ARCHIMED announced the acquisition of Pittsburgh, Pennsylvania-based genetic sequencing provider SeqCenter. And SeqCenter’s founding scientists initially worked at the University of Pittsburgh. Unhappy with the pace, cost, and difficulty of obtaining sequencing data from existing vendors and academic core laboratories, they developed their approach to gene sequencing, leaving academia and founding SeqCenter in 2019.

Amplify Platform Onboards $2 Billion Kingswood Wealth Advisors Team

By Amit Chowdhry ● Nov 11, 2024

Amplify Platform - a unified all-in-one wealth management platform for financial services – announced it welcomed its newest client, Kingswood Wealth Advisors, a network of independent wealth management firms overseeing over $2 billion in client assets.