Avantax - M&A Summary, Ownership, and Business Overview

Financial ServicesCompany

Avantax M&A Summary

Avantax has acquired 19 companies of its own, including 5 in the last 5 years. A total of 3 acquisitions came from private equity firms. It has also divested 3 assets.

Avantax’s largest acquisition to date was in 2015, when it acquired H.D. Vest for $580M. It’s largest disclosed sale occurred in 2022, when it sold TaxACT to Taxwell for $720M. Avantax has acquired in 9 different US states, and 4 countries. The Company’s most targeted sectors include internet software and services (34%) and financial services (23%).

Avantax Ownership

Who owns Avantax?

Avantax is owned by Cetera Financial Group. It was acquired on September 11, 2023.

Avantax Business Overview

Where is Avantax headquartered?

Avantax is headquartered in Coppell, Texas.

What is Avantax’s revenue?

Avantax disclosed revenue of 666M USD for 2022 and 885M USD for 2021.

How many employees does Avantax have?

Avantax has 727 employees.

What sector is Avantax in?

Avantax is a financial services company.

When was Avantax founded?

Avantax was founded in 1983.

M&A Summary

  • M&A Total Activity21
    • M&A Buy Activity18
    • M&A Sell Activity3
  • Total Sectors Invested 6
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 8
  • M&A Advisors 3

Avantax

Avantax, Inc.

3200 Olympus Boulevard, Suite 100,
Coppell, Texas 75019
United States,
(972) 870-6400
www.avantax.com

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.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 14 1 2 - 1 - 18
vol $1.5B $160M $1.7B
Sell (0.2/yr) # 2 - - 1 - - 3
vol $85M $720M $805M
  21

Most Recent M&A

Company Date Value Type
Summit Wealth Advocates LLC 2023-08-22 - Add-on Acquisition
Prior Lake, Minnesota · www.summitwealthadvocates.com
TaxACT, Inc. 2022-11-01 720M USD Divestiture
Dallas, Texas · www.taxact.com
Headquarters Advisory Group LLC 2021-08-02 - Add-on Acquisition
Parsippany, New Hampshire · www.hqadvisorygroup.com
GuideVine Technologies, Inc. 2021-03-30 - Add-on Acquisition
New York, New York · www.guidevine.com
HK Financial Services 2020-01-07 160M USD Add-on Acquisition
Dubuque, Iowa · www.hkfs.com
1st Global, Inc. 2019-03-19 180M USD Add-on Acquisition
Dallas, Texas · www.1stglobal.com
Monoprice, Inc. (dba MonoPrice.com) 2016-11-18 40M USD Divestiture
Rancho Cucamonga, California · www.monoprice.com
InfoSpace LLC 2016-07-05 45M USD Divestiture
Bellevue, Washington · www.infospace.com
H.D. Vest, Inc. (dba H.D. Vest Financial Services) 2015-10-14 580M USD Add-on Acquisition
Irving, Texas · www.hdvest.com
HowStuffWorks LLC 2014-04-21 45M USD Divestiture
Atlanta, Georgia · www.howstuffworks.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Internet Software and Services 6 (33%) 518M (31%) 2 (67%) 765M (95%)
Financial Services 4 (22%) 920M (55%) - -
Software 4 (22%) 47M (3%) - -
E-Commerce 2 (11%) 188M (11%) 1 (33%) 40M (5%)
Business Services 1 (6%) - - -
Information Technology 1 (6%) - - -
Total 18 $1.7B 3 $805M

By Geo

State/Country Buy Value Sell Value
United States 15 1.6B 3 805M
  Texas 3 1.0B 1 720M
  Washington 2 - 1 45M
  California 2 188M 1 40M
  New York 1 - - -
  New Hampshire 1 - - -
  Minnesota 1 - - -
  Iowa 1 160M - -
  Georgia 1 45M - -
Canada 1 - - -
  Quebec 1 - - -
Germany 1 26M - -
United Kingdom 1 15M - -
Domestic 15 (83%) 1.6B (98%) 3 (100%) 805M (100%)
Cross-border 3 (17%) 41M (2%) - -
Total 18 $1.7B 3 $805M

Top M&A Advisors

Financial Deals
Financo
1
GCA Corp.
1
Union Square Advisors LLC
1

Deal Values

buy # Total
$100M to $1B 6 $1.5B
< $100M 6 $125M
TOTAL $1.7B
Largest H.D. Vest, Inc. (dba H.D. Vest Financial Services)
$580M (2015-10-14)
sell # Total
$100M to $1B 1 $720M
< $100M 2 $85M
TOTAL $805M
Largest TaxACT, Inc.
$720M (2022-11-01)

M&A Connections

Deals
Acquired from
Investor(s)
11%
2 (11%)
Strategic(s)
11%
2 (11%)
Divested to
Strategic(s)
100%
3 (100%)

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