Sep 20,
2019
Lovell Minnick Partners Announces Intention to Launch Voluntary Public Takeover of Charles Taylor plc
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09.20.19
Lovell Minnick Partners Announces Intention to Launch Voluntary Public Takeover of Charles Taylor plc
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. Jewel BidCo Limited (“LMP Bidco”), a company formed on behalf of funds advised by Lovell Minnick Partners LLC and its affiliates (“Lovell Minnick”), is pleased to announce a recommended cash offer for Charles Taylor plc (“Charles Taylor”) (“Rule 2.7 Announcement”). This announcement should be read in conjunction with, and is subject to, the full text of the Rule 2.7 Announcement, which includes additional information about the terms and conditions of the Offer. This announcement and the Rule 2.7 Announcement will be available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on Charles Taylor’s website at http://www.ctplc.com/investors and on LMP Bidco’s website at http://www.lmpartners.com by no later than 12.00 p.m. on the Business Day following the Rule 2.7 Announcement. The content of the websites is not incorporated into, and does not form part of, this announcement. Certain terms used in this announcement are defined in the Rule 2.7 Announcement. Under the terms of the Offer, each Charles Taylor Shareholder at the Scheme Record Time will be entitled to receive: For each Charles Taylor Share held 315 pence in cash
In addition, under the terms of the Offer, Charles Taylor Shareholders will be entitled to receive the previously declared Interim 2019 Dividend of 3.65 pence per Charles Taylor Share to be paid on 8 November 2019 to Charles Taylor Shareholders on the Charles Taylor register of members on 11 October 2019 without any consequential reduction in the Offer Price, subject to the terms set out in paragraph 18 of the Rule 2.7 Announcement. The Offer Price represents:
- a premium of approximately 34.0 per cent. to the Closing Price per Charles Taylor Share of 235 pence on 18 September 2019 (being the last Business Day prior to the date of the Rule 2.7 Announcement);
- a premium of approximately 39.5 per cent. to the three-month volume weighted average price of 226 pence per Charles Taylor Share to 18 September 2019 (being the last Business Day prior to the date of the Rule 2.7 Announcement);
- a premium of approximately 40.9 per cent. to the six-month volume weighted average price of 224 pence per Charles Taylor Share to 18 September 2019 (being the last Business Day prior to the date of the Rule 2.7 Announcement); and
- a value of approximately £261 million for the entire issued and to be issued share capital of Charles Taylor on a fully diluted basis.
In order to become effective, the Scheme must be approved by a majority in number of the Charles Taylor Shareholders voting at the Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Charles Taylor Shares voted. In addition, at the General Meeting to implement the Scheme a special resolution to approve the adoption of the Amended Charles Taylor Articles must be passed by Charles Taylor Shareholders representing at least 75 per cent. of the votes cast on that resolution. Charles Taylor is a leading international provider of professional services and technology solutions to numerous clients across the global insurance market. It operates 24 hours a day across the globe to support every stage of the insurance lifecycle and every aspect of the insurance operating model. With approximately 3,100 employees spanning 30 countries, Charles Taylor brings together the skills and expertise of people across the organisation to deliver the best possible outcomes to its clients. Lovell Minnick has significant experience of investments in similar businesses to Charles Taylor, and is confident in the overall prospects of Charles Taylor's businesses and the sectors in which it operates. Lovell Minnick considers the Charles Taylor team to have built a high quality business and intends to support Charles Taylor by leveraging its expertise and experience of investing in global financial services companies, including related technology and business service companies. Additionally, LMP Bidco has affirmed the importance of the management and employees of Charles Taylor to its future strategy and confirmed that following completion of the Proposed Acquisition LMP Bidco plans to safeguard the existing contractual and statutory employment rights of all Charles Taylor’s management in accordance with applicable law. LMP Bidco has also confirmed that it intends to continue to service Charles Taylor’s existing customers to a high standard. Commenting on the Offer, Spencer Hoffman and Jason Barg, partners of Lovell Minnick, said: “We are delighted to invest in Charles Taylor and to support David and the management team in continuing the development of the business they have built over the past years. Charles Taylor is a high-quality business, operating in a sector Lovell Minnick has a strong track record of investing in and we believe that partnering with Lovell Minnick to pursue a shared vision to grow the platform will provide benefit to clients, employees and partners.” Commenting on the Offer, David Marock, Group CEO of Charles Taylor, said: “I am proud of what Charles Taylor has achieved over many years for its clients, partners, employees and shareholders. These achievements have been founded on its people, innovation and commitment to excellent client service. I am confident that this acquisition by Lovell Minnick, a highly regarded investor with experience in our markets, will provide Charles Taylor with the opportunity to continue to deliver on its existing growth strategy. They understand the foundations and strengths of our group and we welcome their commitment to working with the management team to drive the business forward.” The Offer will be put to Charles Taylor Shareholders at the Court Meeting and at the General Meeting. In order to become effective, the Scheme must be approved by a majority in number of the Charles Taylor Shareholders voting (and entitled to vote) at the Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Charles Taylor Shares voted. In addition, at the General Meeting to implement the Scheme a special resolution to approve the adoption of the Amended Charles Taylor Articles must be passed by Charles Taylor Shareholders representing at least 75 per cent. of the votes validly cast on that resolution. The General Meeting will be held immediately after the Court Meeting. RBC Capital Markets acted as financial adviser to Lovell Minnick and Rothschild & Co acted as financial adviser to Charles Taylor. Debevoise & Plimpton LLP acted as legal adviser to Lovell Minnick and Davis Polk & Wardwell London LLP acted as lead legal advisors to Charles Taylor. The Offer is conditional on certain antitrust and regulatory clearances including the approval of the FCA and, if relevant, the PRA and Lloyd’s in the UK, and regulatory approvals in the Isle of Man, Bermuda and the State of Texas, United States of America. This announcement, the Rule 2.7 Announcement and the documents required to be published pursuant to Rule 26.1 of the Code will be available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on Charles Taylor’s website at http://www.ctplc.com/investors and on LMP Bidco’s website at http://www.lmpartners.com by no later than 12.00 p.m. on the Business Day following the Rule 2.7 Announcement. About Lovell Minnick Lovell Minnick is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Since its inception in 1999, Lovell Minnick has raised $3.3 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations, including $1.28 billion of capital committed to the Lovell Minnick Fund V. Lovell Minnick has 40 team members, of whom 21 are investment professionals, operating from offices in Philadelphia, Los Angeles and New York. Lovell Minnick provides buyout and growth capital, leveraging its deep domain expertise and network of relationships to support dynamic companies in capitalising on attractive market opportunities. Lovell Minnick focuses on developing strong working relationships with management teams and being value-added partners to help build long-term value for clients, employees and shareholders. Lovell Minnick Partners is a growth investor with significant experience in the insurance services and related technology space. To date, Lovell Minnick has completed more than 50 portfolio company investments. Relevant examples of current and former Lovell Minnick Partners investments include: J.S. Held, Worldwide Facilities, Duff & Phelps, ATTOM and Trea Asset Management. None of Lovell Minnick Partners’ current portfolio companies compete directly or indirectly with Charles Taylor. Important notice This announcement and the Rule 2.7 Announcement is for information purposes only and is not intended to and does not constitute, or form part of, an offer to sell or an invitation to purchase any securities or the solicitation of an offer to buy, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, pursuant to the Offer or otherwise, nor shall there be any purchase, sale, issuance or exchange of securities or such solicitation in any jurisdiction in which such offer, solicitation, sale, issuance or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. The Offer will be made solely by means of the Scheme Document or any document by which the Offer is made which will contain the full terms and Conditions of the Offer, including details of how to vote in respect of the Proposed Acquisition. This announcement and the Rule 2.7 Announcement have been prepared for the purpose of complying with English law and the Code and the information disclosed may not be the same as that which would have been disclosed if this announcement and the Rule 2.7 Announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom. RBC Capital Markets is the trading name for RBC Europe Limited, which is authorised by the PRA and regulated by the FCA and the PRA and is a subsidiary of Royal Bank of Canada. RBC Capital Markets is acting exclusively for Lovell Minnick and LMP Bidco and for no one else in connection with the Offer and will not be responsible to anyone other than Lovell Minnick and LMP Bidco for providing the protections afforded to its clients nor for providing advice in relation to the Offer or any other matters referred to in this Announcement. Overseas Shareholders The release, publication or distribution of this Announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to the laws of other jurisdictions should inform themselves of, and observe, any applicable requirements. Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Offer disclaim any responsibility or liability for the violation of such restrictions by any person. The Offer relates to shares of a UK company and is proposed to be effected by means of a scheme of arrangement under the laws of England and Wales. Neither the US proxy solicitation rules nor the tender offer rules under the US Exchange Act apply to the Offer. Accordingly, the Offer is subject to the disclosure requirements, rules and practices applicable in the United Kingdom to schemes of arrangement, which differ from the requirements of US proxy solicitation or tender offer rules. However, if LMP Bidco were to elect to implement the Offer by means of a Takeover Offer, such Takeover Offer would be made in compliance with all applicable laws and regulations, including Section 14(e) of the US Exchange Act and Regulation 14E thereunder. Such a takeover would be made in the United States by LMP Bidco and no one else. In addition to any such Takeover Offer, LMP Bidco, certain affiliated companies and the nominees or brokers (acting as agents) may make certain purchases of, or arrangements to purchase, shares in Charles Taylor outside such Takeover Offer during the period in which such Takeover Offer would remain open for acceptance. If such purchases or arrangements to purchase were to be made, they would be made outside the United States and would comply with applicable law, including the US Exchange Act. None of the securities referred to in this Announcement have been approved or disapproved by the US Securities and Exchange Commission, any state securities commission in the United States or any other US regulatory authority, nor have such authorities passed upon or determined the adequacy or accuracy of the information contained in this document. Any representation to the contrary is a criminal offence in the United States.
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Sep 17,
2019
Lovell Minnick Exits Mercer in its Recapitalization
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09.17.19
Lovell Minnick Exits Mercer in its Recapitalization
DENVER, Sept. 17, 2019 /PRNewswire/ -- Mercer Advisors, a national Registered Investment Adviser (RIA) with Assets Under Management (AUM) exceeding $16.5 billion, announced today a recapitalization whereby Oak Hill Capital will acquire an equity stake in the company from current private equity owners Genstar Capital ("Genstar") and Lovell Minnick Partners. Mercer Advisors is one of the largest independent wealth managers in the U.S., serving clients with a focus on the mass affluent and high net-worth markets. Based in Denver, Mercer Advisors has a national footprint with 44 offices and over 370 employees. The Company has nearly 35 years of wealth management experience and differentiates itself as a total wealth manager serving investors as a fiduciary and providing a broad range of services including financial planning, investments, estate planning and tax planning and preparation services. Under Genstar's and Lovell Minnick's ownership since Genstar's original investment in 2015, Mercer Advisors' AUM has grown dramatically, driven by addition of new client assets and acquisitions of other advisory firms from less than $5.8 billion in AUM to over $16.5 billion in AUM. In that span, Mercer Advisors invested heavily in enhancing its services for clients including the expansion of its investment offerings, significantly adding talent and expertise to its estate and tax planning teams, and extending its regional office footprint to over 40 regional offices. Mercer Advisors also enhanced its referral relationships with Charles Schwab, E*TRADE, Fidelity Investments, and TD Ameritrade. Over the past three-and-a-half years Mercer Advisors has completed 23 acquisitions that expanded its footprint, talent and expertise. In addition, in 2018, Mercer Advisors opened a new, full-service "Central Hub" headquarters in Denver to house multiple teams and functions to better support the dozens of Mercer Advisors' regional offices. Dave Welling, Chief Executive Officer of Mercer Advisors, said, "Mercer Advisors' vision centers on our unconditional commitment to our clients and working collaboratively with them to create the best context possible for their Economic Freedom™. With the support of our private equity partners we have been able to make significant investments in building a comprehensive set of services for our clients and in expanding that vision to new parts of the country." Added Welling, "Genstar Capital and Lovell Minnick were instrumental in our development and we are delighted that Genstar will be staying on as an investor and partner. Our future is even brighter with Oak Hill being added as a strategic investor. Key to our process in selecting Oak Hill as our partner was the unique combination of cultural alignment and their expertise in supporting management teams leading growth and change." Steve Puccinelli, Partner of Oak Hill, said, "Mercer Advisors is a unique integrated registered investment adviser with multiple levers to compound value and is well-positioned to further accelerate its already impressive growth. We are excited to partner with CEO Dave Welling, his outstanding team, and existing investor Genstar to further help the company expand organically and through strategic acquisitions." Tony Salewski, Managing Director of Genstar, said, "We are extremely gratified by the success of Mercer Advisors, having worked with management to create a strategic wealth management platform that delivers a truly integrated and robust client experience. Through a dynamic blend of organic and inorganic growth, the business has rapidly achieved scale and established itself as a market-leading RIA with immense future potential. We are excited to continue as investors and look forward to further building Mercer Advisors in our new partnership with Oak Hill." "We have enjoyed our collaboration with the Mercer Advisors management team for over a decade. They have performed at a very high level and achieved premier status in wealth management. We wish the team continued success as the Company writes its next chapter," said Jeffrey Lovell, Co-Chairman of Lovell Minnick Partners. Goldman Sachs & Co. served as lead financial advisor, Moelis & Company LLC assisted as financial advisors, and Willkie Farr & Gallagher LLP served as legal counsel to Mercer Advisors on the transaction. UBS served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Oak Hill Capital on the transaction. About Mercer Advisors Established in 1985, Mercer Global Advisors Inc. ("Mercer Advisors") is a total wealth management firm that provides comprehensive, fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, asset protection expertise, and corporate trustee and trust administration services. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $16.5 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 370 employees, and operates nationally through 44 offices across the country. For more information, please visit: www.merceradvisors.com. About Oak Hill Capital Oak Hill Capital is a private equity firm managing funds with approximately $15 billion of initial capital commitments and co-investments since inception. Over the past 33 years, Oak Hill Capital and its predecessors have invested in over 90 private equity transactions across broad segments of the U.S. and global economies. Oak Hill Capital applies an industry-focused, theme-based approach to investing in the following sectors: Consumer, Retail & Distribution; Industrials; Media & Communications; and Services. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. For more information, please visit: www.oakhill.com. About Genstar Capital Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $17 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrial technology, and software industries. For more information on Genstar, please visit: www.gencap.com. About Lovell Minnick Partners Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. The firm partners with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since its inception in 1999, Lovell Minnick Partners has become a leader in their chosen space, raising $3.3 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, the firm has completed more than 50 portfolio company investments.
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Sep 12,
2019
Real Estate Innovator and Visionary, Steve Ozonian, Joins Board of Directors at Inside Real Estate
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09.12.19
Real Estate Innovator and Visionary, Steve Ozonian, Joins Board of Directors at Inside Real Estate
DRAPER, Utah, Sept. 12, 2019 /PRNewswire-PRWeb/ -- Inside Real Estate, one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 top brokerages, agents & teams announced this week the appointment of Steve Ozonian to its Board of Directors. Known as a visionary leader in the real-estate tech space, Ozonian brings over 3 decades of experience serving in executive roles at Coldwell Banker Real Estate, Prudential Real Estate & Relocation, and REALTOR.com. "We're thrilled to welcome Steve to our board," said Ned Stringham, CEO of Inside Real Estate. "Steve brings a wealth of knowledge and relationships having successfully led companies through many facets of the real estate industry. His experience and perspective will be invaluable as Inside Real Estate expands its reach, partnering with the most prominent brokerage and franchise brands in real estate today." Named a Top Innovator and influential leader by The National Association of Realtors and other prominent media outlets, Ozonian has a long history of driving innovation at the intersection of real estate and tech. After serving as a senior executive at Coldwell Banker Real Estate and Chairman and CEO of Prudential Real Estate & Relocation, Ozonian went on to serve as the CEO of REALTOR.com, one of the leading real estate consumer portals in the United States. After his tenure at REALTOR.com, Ozonian also served as the CEO of RealEstate.com and is currently the lead independent director of Lending Tree and CEO of Williston Financial. "I believe Inside Real Estate is uniquely positioned to dominate the real estate software space," said Steve Ozonian. "They've gained substantial traction and scale in a highly fragmented industry thanks to a winning strategy, experienced team and a powerful software platform which drives real results for the agents, teams and brokers they serve. I'm honored to join their board and participate in their continued growth." Ozonian's appointment comes on the heels of substantial revenue growth for Inside Real Estate which has brought on hundreds of top brokerages to its flagship platform, kvCORE, so far this year and has doubled down on its long-term strategy with a new primary financial backer, Lovell Minnick Partners. About Inside Real Estate Inside Real Estate is one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 agents, teams and top brokerages. The company's flagship platform, kvCORE, is a modern and comprehensive solution known for delivering profitable growth at every level of a brokerage organization. Built with a scalable and flexible infrastructure, kvCORE enables brokerages to create their own unique technology ecosystem to enhance and differentiate their brand and culture. With an accomplished leadership team and over 175 employees, Inside Real Estate brings the resources, scale and vision to deliver ongoing innovation and success for its growing customer base. Learn more at insiderealestate.com.
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Sep 11,
2019
RIA Intel: Mega-RIAs Are on the Prowl. But a Bad Deal Can Quickly Backfire on an Advisor.
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09.11.19
RIA Intel: Mega-RIAs Are on the Prowl. But a Bad Deal Can Quickly Backfire on an Advisor.
Giant RIAs are aggressively targeting fast-growing, high net worth-focused firms. Before acting, advisors should pay heed to these key considerations.
By David Sterman
September 10, 2019
Throughout an advisor’s career, major milestones justify the celebratory popping of top-notch champagne.
Be it the first multi-millionaire client, the first year that managed assets surpass $100 million, or when a multi-advisor team crosses the billion-dollar threshold, a great sense of accomplishment is well deserved.
What to do next, though, is often the hardest part.
While many advisors are content to keep adding clients in a slow and steady organic manner, some want to jumpstart growth by joining forces with a larger firm to leverage growth and derive the benefits of scale. Of course, a decision to sell a practice may simply come down to prudent succession planning.
In the past, a common next step would have been to reach out to nearby planning and wealth management peers to see if they represented a good fit for existing clients.
Yet in the past few years, the decision to merge or sell, already an emotionally fraught question, has become far more complex as a new wave of mega-RIAs with ambitious expansion plans has created a whole new class of industry buyers.
Knowing more about these mega-RIAs, their growth strategies, and most importantly, how they can help serve existing clients, are key factors to understand before acting.
To be sure, many of the new massive RIAs under construction promise to solve a basic set of challenges. They can help a firm monetize (i.e. cash out) after years of building a wealth management practice. Or they can bring in fresh tools to help grow a base of clients, and managed assets.
Focus Financial Partners typifies the new breed of acquisition-driven firms. As part of its investor presentation, the firm lays out a fairly mundane set of reasons for selling your practice to Focus, citing virtues such as “an alignment of values,” an adherence to “fiduciary standards,” ample marketing resources, and “access to strategy.”
Beyond that kind of marketing pablum, Focus and its ilk also offer to take the managerial aspects of running a business off a company’s plate, usually for a hefty slice of cash flows. This kind of basic straightforward approach may be just fine for some advisors.
“You can’t convince someone to be an entrepreneur,” says Louis Diamond, executive vice president at industry recruiter Diamond Consultants. “Not everyone is well-suited to control various aspects such as marketing, technology, social media and office supervision.”
Yet for advisors (and their advisory teams) that instead want to pursue more robust and targeted growth, other massive RIA-focused aggregators offer more specific skill sets to help catalyze growth.
Take Lovell Minnick Partners as an example. The private equity-backed firm has been cobbling together a broad range of financial services firms, not just asset managers, in a bid to create an advanced toolset for advisors at its captive RIA firms.
“We’re fascinated by the recurring themes across financial services, which you cannot identify unless you have a broader lens,” says Brad Armstrong, a partner at the firm. “For example, we see the abundance of data and potential for AI and automation, an evolutionary change that’s playing out in areas beyond just wealth management – we’re also seeing it unfold in specialty finance, asset management, and other sectors within financial services.”
From compliance to fintech to analytics, Lovell Minnick helps provide acquired RIA firms with a very broad ecosystem of tools and a network of relevant contacts for business and corporate development that they may have lacked when they operated independently, says Armstrong.
“We’re heavily invested in our companies’ success and get excited about adding value,” says Armstrong, who adds, “we have over twenty companies pursuing growth strategies; while each has its own mission, we enjoy helping them deploy best practices we see elsewhere in the portfolio. In wealth management, an important toolkit today is the ability to drive an M&A strategy – our companies have made over 80 add-on acquisitions and average more than one a month, so we have the experience base and resources in-house to draw from.”
Along with a growing base of captive RIAs now under the Lovell Minnick umbrella, the firm also owns industry vendors such as Attom Data Solutions, which provides real estate industry analytics, SRS Acquiom, a provider of M&A settlement support, LSQ Funding Group, which offers working capital management tools, and One Zero Financial, which sells foreign exchange trade management software.
Emigrant Partners takes a different approach in support of RIA firms, eschewing traditional buyouts and focusing instead on providing access to growth capital (usually in the form of loans and cash flow participation), along with strategic advice.
Structuring the deals that way brings several key advantages.
“Firms maintain their independence and operating autonomy, and we stay out of their board rooms. These features are important to their founders, next gen and clients,” says Karl Heckenberg, Emigrant Partners’ CEO. Instead, his firm is focused on providing the kind of mentorship that can lead to higher AUM and profits.
As just one example, Emigrant established a partnership with Minneapolis-based NorthRock Partners this past April, and is already helping NorthRock devise strategies to drive rapid growth in high net worth relationships.
Heckenberg says that “North Rock is already on pace to double in size compared to when we first linked up.”
As is the case with Lovell Minnick, Emigrant Partners aims to bring in resources from other divisions to aid its RIA portfolio members’ growth strategies. Heckenberg cites services that can be offered from other subsidiairies at Emigrant Bank such as trust administration, property & casualty advisory, fine art finance, and other specialty lending and advisory capabilities.
Emigrant Partners is a part of New York Private Bank & Trust, which is an atypical industry backer of RIAs. Most of the industry’s growth capital is coming these days from private equity, other RIAs, and in rare cases, investment banks.
New York Private Bank & Trust also operates a separate RIA consolidator under the leadership of Heckenberg, known as Fiduciary Network. RIAs under that umbrella have asset management bases ranging from around $1 billion to $12 billion, with the average holding controlling $3 billion in AUM.
Emigrant Partners, Lovell Minnick Partners and other more selective industry operators share a key common trait: a desire to tap into the high net worth and corporate clients.
Advisors and their teams with such relationships will always be in high demand, says Carolyn Armitage of industry consultant Echelon Partners.
“I’ve seen advisors make an entire career off of one corporate client,” she says, adding that providing planning services to corporate executives, helping with areas such as stock options exercises, can be very lucrative for advisors.
A focus on high net worth clients isn’t the only key criterion for these selective RIA investors. Heckenberg says that his firm looks at 40 to 50 deals per year, and most of them aren’t growing organically.” His firm only looks to invest in firms that are already on the growth fast-track.
For firms like Emigrant, the talent bench at a potential acquisition is also a key consideration. Heckenberg says his firm is “heavily focused on internal succession. We spend as much time with the next gen leadership at the firm as we do with the founders.
Not all firms aim towards the premium client and rapid growth end of the market. Captrust Financial Advisors, for example, has a large defined contribution plan business, which helps advisors open the door for 401(k) relationships to sprout into full planning engagements.
Edelman Financial Engines is now the nation’s largest RIA, thanks to a similar approach that builds out from a core set of retirement plan management offerings.
These firms and other large RIAs are making heavy investments in digital planning technologies to help advisors streamline their processes and carve out more time to spend with clients (or look for new clients).
“Advisors tend to be laggards when it comes to technology,” says Tim Welsh, CEO of industry consultant Nexus Strategy. He adds that “many smaller practices simply lack the resources to spend a lot on technology.”
The good news: Welsh says that “there has been a renaissance in terms of advisor technology, in areas such as Customer Relationship Management (CRM), rebalancing software, tax planning efficiency software and others,” which is helping advisors to become much more efficient.
While Edelman Financial Engines has historically been focused on retirement plan management for the bulk of its asset growth, the firm now sees a growing set of tech tools as a key differentiator for clients as well.
“We want to scale our business on the retail side, using technology to help our advisors handle more clients,” says CEO Larry Raffone.
Indeed, the growing use of technology—by both advisors and clients alike—can be seen as an opportunity to stay on the industry’s vanguard. Millennial clients are especially well-adapted to a tech-driven financial planning approach.
The flip side of that trend is that any advisors with long-standing (and perhaps aging) clients may be ill-equipped to compete for next generation clients if they fail to evolve.
Raffone says his firm will continue to invest in firms that can bring more tech arrows into the quiver.
“We’re always on the lookout for vendors that can expand our digital offerings,” he says.
Even as Edelman Financial Engines has been at the forefront of the robo-advisory trend, he doesn’t consider it a major threat to the industry.
“Robo isn’t a business, it’s a capability,” he says. “For more complicated financial pictures, you still need to have a strong human connection. As far as he’s concerned, “digital services offer a path to create a better client experience, even for older advisors.”
The growing use of digital tools in planning and wealth management is also a defensive measure, as they can lower costs. Raffone cites the growing use of virtual planning as just one example.
“Planning fees are coming down and you can’t spend too much time on face-to-face meetings if you want to efficiently manage your time and your clients’ time,” he notes.
At the risk of oversimplifying the current landscape of large RIAs, we’re entering a bifurcated world in which high net worth-focused firms with ambitious growth plans sit squarely in the crosshairs of the industry’s most selective deal makers.
At the other end are firms that have a mass affluent client base and are looking to simply better mange their platforms and perhaps enable succession plans.
Picking the right investor is critical to a firm’s success. It also will ensure that the bubbly keeps flowing.
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Sep 10,
2019
Lovell Minnick Partners Raises $1.28 Billion for Fifth Fund, Achieves Hard Cap for Fund to Invest in Financial and Business Services
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09.10.19
Lovell Minnick Partners Raises $1.28 Billion for Fifth Fund, Achieves Hard Cap for Fund to Invest in Financial and Business Services
PHILADELPHIA, LOS ANGELES and NEW YORK – SEPTEMBER 10, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced that it has completed fundraising for Lovell Minnick Equity Partners V LP (“Fund V”) at $1.28 billion. Fund V, which was oversubscribed, exceeded its $1 billion target and achieved its hard cap. Lovell Minnick secured commitments to Fund V from a diverse group of investors including U.S. and international public and private pension funds, insurance companies, endowments and foundations, asset managers and family offices. “We are grateful for the strong support we received from existing investors, as well as confidence in our strategy from many new investors in the U.S. and abroad,” said Steve Pierson, Managing Partner at Lovell Minnick Partners. “Fund V will enable us to continue pursuing our proven thematic approach to investing and partnering with outstanding management teams to support them in growing their companies.” “Our successful fundraise and the appeal of our strategy reflects our proven demonstrated ability to consistently drive positive investment outcomes, and we continue to see strong demand for our capital and business-building expertise in some of the most compelling subsectors within financial and business services today,” said Robert Belke, Managing Partner at Lovell Minnick Partners. Lovell Minnick’s Fund V will continue the same focused strategy as its predecessor funds, investing in middle market businesses in the Americas and Europe where the firm can apply its industry experience, vast network and business-building acumen to help them grow. Lovell Minnick will generally target equity investments of between $40 million and $150 million, although it has in the past and expects in the future to complete much larger investments with co-investors. “We’re excited to begin the next chapter of our growth as we celebrate the closing of Lovell Minnick’s oversubscribed fifth fund and the firm’s 20th anniversary. We look forward to continue serving as trusted stewards of our investors’ capital amid the rapidly changing and growing opportunity set in the financial services industry,” said Jeffrey Lovell and James Minnick, Co-Chairmen at Lovell Minnick Partners. With the closing of Fund V, Lovell Minnick has raised $3.3 billion since its inception in 1999. Lovell Minnick has had a busy 2019, investing in three new platforms: real estate data provider ATTOM Data Solutions, FX trading technology solutions provider oneZero and real estate software company Inside Real Estate; successfully exiting three portfolio companies: Commercial Credit, J.S. Held and Worldwide Facilities; and completing nine add-on acquisitions across its portfolio. Evercore Private Funds Group acted as exclusive global placement agent, and Kirkland & Ellis LLP as fund formation counsel, to Lovell Minnick. About Lovell Minnick Partners Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. We partner with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since our inception in 1999, we have become a leader in our chosen space, raising $3.3 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, we have completed more than 50 portfolio company investments. We seek companies in the Americas and Europe where we can apply our industry expertise and business-building acumen to drive attractive outcomes. Targeted investment areas include asset management, wealth management, specialty finance, insurance brokerage and services, financial and insurance technology, payments, and related business services. For more information, please visit www.LMpartners.com.
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Aug 20,
2019
Lovell Minnick Partners Announces Investment in Inside Real Estate
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08.20.19
Lovell Minnick Partners Announces Investment in Inside Real Estate
New Investment Positions Leading Real Estate Technology Business for Accelerated Growth PHILADELPHIA, LOS ANGELES, NEW YORK – AUGUST 20, 2019 — Lovell Minnick Partners, LLC, (“LMP”) a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, today announced it has entered into an agreement to acquire a majority stake in Inside Real Estate, (“the Company”) a leading end-to-end SaaS platform serving the residential real estate market. Financial terms of the transaction were not disclosed. Headquartered in Salt Lake City, Inside Real Estate provides an end-to-end software solution to residential real estate brokers, teams and agents that empowers their ability to manage the full cycle of home property buying and selling. Founded in 2008, the Company’s platform serves over 200,000 top agents, teams and brokerages, enabling them to manage the complete front-end marketing and sales processes for home purchases and sales, and back office functions, such as accounting and commission payments. “Inside Real Estate is a highly trusted partner for its differentiated and end-to-end SaaS platform that enables residential realtors, teams and agents across North America to compete more effectively and deliver positive results for their clients,” said John Cochran, a Partner at Lovell Minnick Partners. “We are excited to support CEO Ned Stringham and his team, who have built a robust platform delivering an incredibly innovative and complete technology solution to serve today’s top performing real estate professionals.” “LMP has an exceptional investment track-record of backing strong, growth-oriented financial technology businesses, including those in real estate, and it’s an honor to have their confidence and support,” said Stringham. “We’re excited to partner with a firm that will enable Inside Real Estate to remain an independent, reliable and innovative tech partner that supports the growth of our customers’ real estate businesses for years to come.” Inside Real Estate has experienced strong recent momentum in partnering with some of the top brokerages in the country. The Company has continued to invest in building out its product suite and has recently expanded its marketplace to include new products. “Inside Real Estate’s advanced kvCORE platform meets the needs of our nation’s most innovative brokers, teams and agents who have come to recognize the value that its next generation platform offers as compared to other siloed vendor solutions,” said Jason Barg, a Partner at Lovell Minnick Partners. “This transaction builds on our firm’s history of partnering with management teams and founders of technology-enabled financial and related business service companies. We are excited about the opportunity to support the Company’s growth through strategic acquisitions and organic initiatives, in addition to building out Inside Real Estate’s technology solutions. GCA acted as an exclusive financial advisor to Inside Real Estate in the transaction. Morgan, Lewis & Bockius served as legal counsel to LMP, while Parr Brown Gee & Loveless served as counsel to Inside Real Estate. About Inside Real Estate Inside Real Estate is one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 agents, teams and top brokerages. The company’s flagship platform, kvCORE, is a modern and comprehensive solution known for delivering profitable growth at every level of a brokerage organization. Built with a scalable and flexible infrastructure, kvCORE enables brokerages to create their own unique technology ecosystem to enhance and differentiate their brand and culture. With an accomplished leadership team and over 175 employees, Inside Real Estate brings the resources, scale and vision to deliver ongoing innovation and success for its growing customer base. Learn more at insiderealestate.com
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Aug 20,
2019
Lovell Minnick Partners' 2019 Executive Summit
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08.20.19
Lovell Minnick Partners' 2019 Executive Summit
We hosted our annual Executive Summit in May, bringing together senior management from our portfolio companies to share insights, experiences and best practices. Discussions included:
- Using Marketing to Deliver Business Results and Create Real Value
- Promoting Excellence: The Mind Science Behind Creating Workplace Diversity
- Sales Organization Strategy
- Leadership and Organization Development
Our 4th annual Executive Summit will be held in May 2020.    
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Aug 19,
2019
CenterSquare Investment Management Expands Real Assets Platform with Acquisition of Real Estate Debt Manager RCG Longview
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08.19.19
CenterSquare Investment Management Expands Real Assets Platform with Acquisition of Real Estate Debt Manager RCG Longview
New York, August 19, 2019 – CenterSquare Investment Management, a leading global real assets investment manager, today announced that it has entered into a definitive agreement to purchase private real estate debt manager RCG Longview. The transaction brings together two highly experienced real estate managers with strong track records and complementary investment philosophies. Founded in 1999 and headquartered in New York City, RCG Longview provides debt capital solutions for owners and operators of real estate. To date, the Firm has completed over 550 transactions with a total capitalization of over $4 billion. Founded in 1987, CenterSquare Investment Management has approximately $11 billion in assets under management in U.S. and global listed real estate and infrastructure, and private equity real estate investments. “We are excited to welcome the RCG Longview team to our organization,” said Todd Briddell, CEO and CIO of CenterSquare. “In addition to adding deep capabilities in real estate debt, the RCG Longview track record, reputation and culture are a terrific fit for CenterSquare. Under the leadership of Michael Boxer and Richard Gorsky, this transaction brings an exceedingly talented group of professionals to manage and grow the combined firm’s debt strategies. As a complement to our existing real assets platform, this transaction allows CenterSquare to selectively expand our best-in-class investment offerings to meet the evolving needs of our clients.” “Joining CenterSquare will position our firm to continue growing our investment strategies, providing new opportunities for us to work with existing and new clients,” said Michael Boxer, Founding Partner at RCG Longview. “We were attracted to CenterSquare’s premier reputation, long and successful track record, and like-minded focus on the importance of people and relationships. We are excited to become part of the CenterSquare team and gain additional resources that will better serve our clients.” The acquisition of RCG Longview follows CenterSquare’s management buyout from the Bank of New York Mellon in January 2018, in conjunction with Lovell Minnick Partners, a private equity firm focused on financial services companies. As an independent firm, CenterSquare has sought to expand its real assets footprint through organic growth and select inorganic acquisitions into new strategies. Following the acquisition, CenterSquare will manage in excess of $12 billion across four key business lines – private equity real estate, private real estate debt, listed real estate and listed infrastructure. Financial terms of the private transaction were not disclosed. The transaction is expected to be completed by year end 2019. In connection with this transaction, Berkshire Global Advisors LP acted as financial advisor and Stroock & Stroock & Lavan LLP acted as legal advisor to RCG Longview. Stradley Ronon Stevens & Young, LLP acted as legal advisor to CenterSquare. About CenterSquare CenterSquare is a global investment manager focused on actively managed real estate and infrastructure strategies. Founded in 1987, CenterSquare manages approximately $9.5 billion of real estate and infrastructure securities through CenterSquare Investment Management, Inc. and approximately $1.1 billion (gross) of private equity real estate investments as of June 30, 2019. It manages investments for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors. https://www.centersquare.com/About RCG RCG Longview is a private real estate investment manager focused primarily on private real estate debt strategies. Founded in 1999, RCG Longview managed approximately $1.8 billion of private real estate debt and equity investments as of December 31, 2018. It manages investments for institutional investors and high net worth individuals throughout the US. https://www.rcglongview.com/
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Aug 14,
2019
ATTOM Data Solutions Appoints Martha Notaras to its Board of Directors
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08.14.19
ATTOM Data Solutions Appoints Martha Notaras to its Board of Directors
With this appointment, ATTOM’s Board of Directors expands to five governing members. IRVINE, Calif. – August 14, 2019 - ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), is pleased to announce the appointment of Martha Notaras, to its Board of Directors, effective immediately. “We’re delighted to have Martha Notaras join our Board and we look forward to her valuable contributions,” said Rob Barber, CEO, ATTOM Data Solutions. “Martha’s deep professional background and corporate development experience in technology, information and financial service companies, will continue to strengthen our position as the premier one-stop shop for high-quality real estate data and fuel future growth and innovation.” This announcement comes on the heels of ATTOM most recently being acquired by Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies. Notaras is a partner at venture capital fund, XL Innovate, investing in insurtech and fintech, including startups focused on data and analytics, as well as new business models. She serves on the boards of four of XL Innovate’s portfolio companies: Cape Analytics, Pillar Technologies, GeoQuant and Notion. “I am delighted to serve on the ATTOM Data Solutions Board of Directors,” said Martha Notaras. “ATTOM is transforming the future of property data through innovative technology and I look forward to helping power this innovation by guiding strategic initiatives to expand ATTOM's reach into various industries, with a strong focus on insurance-specific solutions.” Previously, Notaras ran corporate development for the business data and analytics division of the Daily Mail and General Trust plc. Of the 20 investments Notaras made, two achieved and maintained valuations over $1 billion. Notaras has served as board director for companies that are in early and growth stages, with a focus on fintech, insurtech, proptech, edtech and digital media. Notaras’s prior experience includes investment banking at Merrill Lynch and commercial banking at Credit Suisse. Notaras earned her A.B. cum laude from Princeton University and her MBA from Harvard Business School, where she was a Baker Scholar, awarded for graduating in the top five percent of the class. The 2019 ATTOM Data Solutions Board of Directors also consists of Rob Barber, CEO, ATTOM Data Solutions; Steve Ozonian, CEO of Williston Financial Group and Lead Director of LendingTree; John D. Cochran, Partner of Lovell Minnick and a member of its Investment Committee and its Management Committee; and Jason S. Barg, Partner of Lovell Minnick. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk property data licensing, Property Data APIs, market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS). https://www.attomdata.com/
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Aug 08,
2019
Lovell Minnick Partners Promotes Scott Shebelsky to CFO
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08.08.19
Lovell Minnick Partners Promotes Scott Shebelsky to CFO
Firm Continues to Strengthen Senior Leadership Team
PHILADELPHIA, LOS ANGELES, NEW YORK – August 8, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, today announced that Scott Shebelsky has been promoted to Chief Financial Officer. Shebelsky joined the firm in 2016 as Vice President of Finance and Chief Compliance Officer.
“We are pleased to recognize Scott’s significant contributions and proven leadership of our financial, accounting and compliance functions,” said Steve Pierson, Managing Partner at Lovell Minnick Partners. “Scott has also led important technology-driven initiatives that have helped improve the firm’s operational efficiency. His promotion reflects our continued emphasis on further building our senior leadership talent as we continue to grow, ”added Robert Belke, Managing Partner at Lovell Minnick Partners.
Shebelsky joined Lovell Minnick after leading Corporate Development, at Preferred Sands, Inc. His responsibilities included driving the company’s overall M&A and corporate strategy, and managing the tax, treasury, and risk management functions. Shebelsky is a CPA and formerly Senior Consultant with Deloitte Tax.
Shebelsky earned an LL.M in Taxation from the Villanova University School of Law, his J.D. from the Widener University School of Law, and holds a B.S. in Accounting from Pennsylvania State University.
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Aug 07,
2019
Lovell Minnick to Exit Investment in Worldwide Facilities, Genstar Capital to Become New Investor in Leading National Wholesale Insurance Broker
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08.07.19
Lovell Minnick to Exit Investment in Worldwide Facilities, Genstar Capital to Become New Investor in Leading National Wholesale Insurance Broker
Worldwide to Benefit from Expanded Access to Capital to Fuel Next Chapter of Growth RADNOR, PA, LOS ANGELES and SAN FRANCISCO, CA – AUGUST 7, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, and Genstar Capital, a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrial technology, and software industries, today announced the signing of a definitive agreement in which Lovell Minnick will exit its investment in Worldwide Facilities, LLC (“Worldwide” or “the Company”), a national wholesale insurance brokerage, managing general agency and program manager, and Genstar will become a new investor in Worldwide. Financial terms of the private transaction were not disclosed. “It has been a privilege to partner with the Worldwide management team over the past four years. We’re proud to have supported the Company in executing its strategic goal of becoming a larger, more diversified, top-five insurance wholesaler in the US market,” said Spencer Hoffman, a Partner at Lovell Minnick Partners. “We believe Worldwide is well-positioned for continued growth and success as it begins its next chapter of partnership with Genstar.” Headquartered in Los Angeles, Worldwide is one of the largest national wholesale insurance brokerage, managing general agent and program underwriters in the U.S. Founded in 1970, the Company has dedicated teams of product line specialists across its brokerage, managing general agent and program underwriter business units. With over 700 employees in 37 offices, Worldwide serves as the managing general agent for several leading carriers and provides a wide range of underwriting, rating, binding and policy issuance services. “Given our focus investing in the insurance sector, we have tracked Worldwide for many years, and have been impressed with the company’s significant growth,” said Ryan Clark, President and Managing Director at Genstar. “The management team is outstanding and has established Worldwide as an employer and platform of choice, and we believe there are multiple opportunities to continue organic growth and strengthen its position as a leading independent wholesale broker, MGA and program manager. Importantly, we expect to support strategic add-on acquisitions that will further scale the business and enhance its technology and product offerings to create innovative solutions for its clients.” “We would like to thank Lovell Minnick Partners and our Board of Directors for their support of the strategic initiatives we sought to achieve together. Together, we completed eight acquisitions, added high quality producers and management talent, and achieved above average organic growth while building a specialized and diversified platform designed to continue to increase our relevance in the market for years to come,” said Davis Moore, Chairman & CEO of Worldwide. “We’ve successfully executed on our strategy to create a market-leading national wholesale insurance broker, managing general agent and program underwriter, with immense domestic and international reach,” added President Ronald Austin. “Looking forward, Worldwide Facilities has a very bright future and we’re excited about the opportunities to continue delivering significant value and service to our customers as we enter the next chapter of our growth in partnership with Genstar Capital.” “The growth at Worldwide has been terrific, significantly outpacing the market’s average organic rate, while complementing that growth through strategic acquisitions and other investments. This is consistent with our desire to work with companies in which we can bring our deep industry knowledge, help identify strategic opportunities for growth, and continually invest in the further institutionalization of great, growing businesses,” added Trevor Rich, a Partner at Lovell Minnick Partners. The transaction is expected to close in the third quarter of 2019 and is subject to customary closing conditions. Morgan Stanley & Co. LLC and Waller Helms Advisors acted as financial advisors to Lovell Minnick and Worldwide Facilities in connection with the transaction, while McGuireWoods LLP served as legal counsel to Lovell Minnick. Marsh, Berry & Co. acted as financial advisor, and Ropes and Gray LLP as legal counsel to Genstar. About Worldwide Facilities Worldwide Facilities, LLC, is a national wholesale insurance broker, managing general agent and program manager that has been in business since 1970. Its brokers and underwriters are industry leaders providing expertise in a wide range of specialty lines, as well as extensive contacts with carriers domestically and overseas. For more information, please visit www.wwfi.com. About Lovell Minnick Partners Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $3.2 billion in committed capital and has completed investments in over 50 platform companies. Targeted investment areas include asset management, wealth management, investment product distribution, specialty finance, insurance and brokerage services, financial and insurance technology, and related business services. Over its twenty-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, without relying upon excessive financial leverage. About Genstar Capital Genstar Capital ( www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $17 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrial technology and software industries.
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Jul 24,
2019
SRS Acquiom Adds to Board
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07.24.19
SRS Acquiom Adds to Board
SRS Acquiom is pleased to announce Scott C. Ganeles, an accomplished financial services executive, has joined the company’s Board of Directors. Scott previously served as Chief Executive Officer of Ipreo Holdings LLC (“Ipreo”), a leading financial services solutions and data provider for capital market participants. Under Scott’s leadership, Ipreo’s business and market share grew significantly and attracted notable equity investors including Kohlberg Kravis Roberts & Co L.P. (KKR), Blackstone (NYSE: BX) and the Goldman Sachs Merchant Banking Division. Ipreo was acquired in 2018 by IHS Markit (Nasdaq: INFO), a leading critical information, analytics and solutions company. Scott began his career as President of the Carson Group (“Carson”), a financial information services firm focused on corporate strategic intelligence and investor relations. As a co-founding Partner of Carson, Scott was one of the prime architects and leaders in Carson’s development from a start-up to a multimillion dollar enterprise. Scott is currently a Partner at WestCap, a private investment platform with a focus on driving operational excellence and sustainable long term value creation. He holds a BA in Political Science from Brown University. “Scott is an experienced leader with an impressive track record of growing and leading tech-enabled services companies across the capital markets space,” said SRS Acquiom Co-Founder and CEO Paul Koenig. “We are thrilled to have him join our board and provide his expertise during a period of continued growth for SRS Acquiom, as we continue to enhance our ability to offer market-leading M&A and Loan Agency services to clients across the world.” About SRS Acquiom SRS Acquiom offers the most comprehensive platform to help deal parties manage complex financial transactions within mergers & acquisitions, and bilateral or syndicated loan deals. Our solutions include escrow agent and payment services, online pre-closing solicitation, representations and warranties insurance brokerage, professional shareholder representation, and for loan and credit transactions, administrative, collateral and sub-agent services. Since 2007, we have helped businesses, investors, lenders, and advisors complete transactions as efficiently and effectively as possible, so they can focus on building strong businesses, and maximizing value. www.srsacquiom.com
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