M&A Deal Summary |
|
|---|---|
| Date | 2015-10-14 |
| Target | H.D. Vest |
| Sector | Financial Services |
| Buyer(s) | Avantax |
| Sellers(s) |
Lovell Minnick Partners
Parthenon Capital |
| Deal Type | Add-on Acquisition |
| Deal Value | 580M USD |
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| Category | Company |
|---|---|
| Founded | 1983 |
| Sector | Financial Services |
| Employees | 727 |
| Revenue | 666M USD (2022) |
Avantax delivers tax-focused financial planning and wealth management solutions for financial professionals, tax professionals and CPA firms, supporting its goal of minimizing clients’ tax burdens through comprehensive tax-focused financial planning. Avantax has two distinct, but related, models within its business: the independent Financial Professional model and the employee-based model. Avantax was incorporated in 1983 and is based in Coppell, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 13 of 18 |
| Sector (Financial Services) | 1 of 4 |
| Type (Add-on Acquisition) | 10 of 15 |
| State (Texas) | 2 of 3 |
| Country (United States) | 10 of 15 |
| Year (2015) | 1 of 1 |
| Size (of disclosed) | 1 of 12 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-04-21 |
HowStuffWorks
Atlanta, Georgia, United States HowStuffWorks LLC is an internet destination featuring explanations on various topics. |
Buy | $45M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-07-05 |
InfoSpace
Bellevue, Washington, United States InfoSpace LLC is a developer and provider of web based search engine. |
Sell | $45M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1999 |
| PE ASSETS | 3.3B USD |
| Size | Large |
| Type | Sector Agnostic |
Lovell Minnick Partners is a private equity firm that targets investments in financial services companies located in North America and Europe. Specific areas of interest include asset management, financial planning, financial product distribution, outsource providers, specialty finance, and related administration and business services companies. The Firm looks to commit $40 to $150 million of equity capital per investment. Prospective transaction situations include divestitures, management buyouts, growth capital financings, and recapitalizations. Lovell Minnick was formed in 1999 and is headquartered in Radnor, Pennsylvania.
| DEAL STATS | # |
|---|---|
| Overall | 17 of 29 |
| Sector (Financial Services) | 17 of 24 |
| Type (Add-on Acquisition) | 3 of 9 |
| State (Texas) | 1 of 2 |
| Country (United States) | 17 of 29 |
| Year (2015) | 2 of 2 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-07-06 |
Worldwide Facilities
Los Angeles, California, United States Worldwide Facilities LLC is a national wholesale insurance broker, managing general agent, and program manager. Worldwide Facilities 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. Worldwide Facilities was founded in 1970 and is based in Los Angeles, California. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-03-28 |
The Kanaly
Houston, Texas, United States The Kanaly Company is a wealth management firm that provides comprehensive financial planning and trust/estate services to families, individuals, and estates. The Company is independent of any banking or corporate relationships and follows an open architecture investment approach, which does not promote specific financial products or services. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1998 |
| PE ASSETS | 5.5B USD |
| Size | Mega |
| Type | Sector Agnostic |
Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $75 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.
| DEAL STATS | # |
|---|---|
| Overall | 18 of 34 |
| Sector (Financial Services) | 2 of 6 |
| Type (Add-on Acquisition) | 8 of 15 |
| State (Texas) | 3 of 5 |
| Country (United States) | 18 of 34 |
| Year (2015) | 3 of 3 |
| Size (of disclosed) | 5 of 9 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-09-23 |
Inspira Financial
Oak Brook, Illinois, United States Inspira Financial is a provider of retirement and custody services, empowering clients with unmatched service, access to a wide range of custody solutions and expertise they can count on. Whether it’s the custody of alternative assets, investment accounts or retirement funds, Millennium Trust is uniquely qualified to support our clients’ success. Millennium Trust Company performs the duties of a directed custodian, and as such does not provide due diligence to third parties on prospective investments, platforms, sponsors or service providers and does not sell investments or provide investment, legal, or tax advice. Inspira Financial was founded in 2000 and is based in Oak Brook, Illinois. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-10-04 |
BillingTree
Scottsdale, Arizona, United States BillingTree is a provider of integrated payments solutions to the healthcare, ARM and financial services industry verticals. Through its technology-enabled suite of products and services, BillingTree enables organizations to increase efficiency and decrease the costs of payment processing while adhering to compliance regulations. BillingTree was founded in 2003 and is based in Scottsdale, Arizona. |
Buy | - |
