M&A Deal Summary

Genstar Capital Acquires Mercer Advisors

On March 25, 2015, private equity firm Genstar Capital acquired financial services company Mercer Advisors, Inc. from Lovell Minnick Partners LLC and Caltius Structured Capital

Acquisition Highlights
  • This is Genstar Capital’s 5th transaction in the Financial Services sector.
  • This is Genstar Capital’s 43rd transaction in the United States.
  • This is Genstar Capital’s 9th transaction in California.

M&A Deal Summary

Date 2015-03-25
Target Mercer Advisors, Inc.
Sector Financial Services
Buyer(s) Genstar Capital
Sellers(s) Lovell Minnick Partners LLC
Caltius Structured Capital
Deal Type Secondary Buyout
Advisor(s) Moelis & Co. (Financial)

Target

Mercer Advisors, Inc.

Santa Barbara, California, United States
website
Mercer Advisors, Inc. is an independent RIA with over 30 years of wealth management experience. The Company primarily services the mass-affluent and high-net-worth clients. Mercer attracts and retains clients by offering comprehensive wealth management solutions, including: financial planning, investment management, tax management, retirement income and benefits planning, and estate planning.

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Buyer(S) 1

Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 19.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 48 of 87
Sector (Financial Services) 5 of 9
Type (Secondary Buyout) 16 of 40
State (California) 9 of 13
Country (United States) 43 of 79
Year (2015) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 Telestream, Inc.

Nevada City, California, United States

Telestream, Inc. is a provider of digital video software and workflow solutions that allow consumers and businesses to transform video content on the desktop and across the enterprise.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-02 Boyd Corp.

Modesto, California, United States

Boyd Corp is a designer, manufacturer, marketer, and distributor of extruded, die-cut, and molded flexible rubber and plastic components and sealing systems for industrial applications. The business has a history of design and manufacturing innovation related to sealing systems and applications.

Buy $557M

Seller(S) 2

SELLER

Lovell Minnick Partners LLC

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 3.3B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Lovell Minnick Partners is a private equity firm that targets investments in North American financial services companies. 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 $20 to $100 million of equity capital per investment. Prospective transaction situations include divestitures, management buyouts, growth capital financings, and recapitalizations. Lovell Minnick was originally formed in 1999 and has offices in El Segundo, California and Philadelphia, Pennsylvania.


DEAL STATS #
Overall 16 of 24
Sector (Financial Services) 16 of 21
Type (Secondary Buyout) 5 of 9
State (California) 7 of 9
Country (United States) 16 of 24
Year (2015) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-10 361 Capital LLC

Denver, Colorado, United States

361 Capital manages and distributes retail liquid alternative products, including mutual funds, separately managed accounts, and hedge fund vehicles. The Company offers innovative investment strategies with superior risk-adjusted returns and investment performance that is uncorrelated with traditional asset management products. 361 Capital was formed in 2001 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-30 J.S. Held LLC

Jericho, New York, United States

J.S. Held LLC is a provider of specialized consulting services to address complex and high-value insurance claims and construction-related matters. J.S. Held’s growth has included acquisitions and expansion to over 600 professionals in more than 60 offices across the U.S., Canada, Latin America, Europe, and the Middle East.

Buy -
SELLER

Caltius Structured Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.3B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Caltius Structured Capital is an investment firm focused on providing junior debt and minority equity to lower middle-market companies throughout North America. The Firm looks to invest between $7 to $50 million in companies with revenues of $15 to $250 million. The Firm pursues a variety of transaction types, including management buyouts, growth financings, and acquisition financings. Sectors of interest include business services, consumer products/services, healthcare services, manufacturing, tech-enabled services, and staffing. Caltius Structured Capital was formed in 1997 and is based in Los Angeles, California.


DEAL STATS #
Overall 19 of 31
Sector (Financial Services) 2 of 2
Type (Secondary Buyout) 8 of 12
State (California) 7 of 9
Country (United States) 19 of 31
Year (2015) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-17 Pacific Crest Securities LLC

Portland, Oregon, United States

Pacific Crest Securities is a investment bank focused exclusively on technology. The firm is a full-service investment bank providing research, institutional sales and trading, and investment banking services to technology investors and companies worldwide.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-01 Integrated Healthcare Strategies LLC

Kansas City, Montana, United States

Integrated Healthcare Strategies LLC is a healthcare management consulting firm focused on compensation and benefit designs and human resource advisory. With over 35 years serving healthcare clients, Integrated has also compiled the industry’s most comprehensive database. Integrated has achieved impressive growth over the last several years by winning new client awards and continuing to expand the range of services it provides.

Sell -