M&A Deal Summary

Guardian Capital Acquires Sterling Capital

On February 2, 2024, Guardian Capital acquired financial services company Sterling Capital from Truist for 70M USD

Acquisition Highlights
  • This is Guardian Capital’s 2nd transaction in the Financial Services sector.
  • This is Guardian Capital’s largest (disclosed) transaction.
  • This is Guardian Capital’s 1st transaction in the United States.
  • This is Guardian Capital’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2024-02-02
Target Sterling Capital
Sector Financial Services
Buyer(s) Guardian Capital
Sellers(s) Truist
Deal Type Divestiture
Deal Value 70M USD

Target

Sterling Capital

Charlotte, North Carolina, United States
website
Sterling Capital provides investment advisory services through mutual funds, separately managed accounts, model portfolios, and other commingled vehicles offered through a variety of intermediary and managed account platforms. Sterling Capital was founded in 1970 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Guardian Capital

Toronto, Ontario, Canada

website

Category Company
Founded 1962
Sector Financial Services
Employees600
Revenue 214M CAD (2022)
DESCRIPTION

Guardian Capital is a diversified financial services company. Guardian offers institutional and private wealth investment management services; financial services to international investors; services to financial advisors in its national mutual fund dealer, securities dealer, and insurance distribution network. Guardian was founded in 1962 and is based in Toronto, Canada.

DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 2 of 2
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 The RaeLipskie Partnership

Waterloo, Ontario, Canada

The RaeLipskie Partnership is a private wealth management firm in Ontario that has provided objective, professional investment management. With assets under management in excess of C$1.1 billion, they pride themselves in listening to the needs and goals of their clients and designing flexible, custom portfolios to suit each client’s investment objectives. The RaeLipskie Partnership was founded in 1989 and is based in Waterloo, Ontario.

Buy -

Seller(S) 1

SELLER

Truist

Charlotte, North Carolina, United States

website

Category Company
Founded 1872
Sector Financial Services
Employees53,207
Revenue 22.7B USD (2020)
DESCRIPTION
BB&T's corporate headquarters in Winston-Salem, North Carolina.
BB&T's corporate headquarters in Winston-Salem, North Carolina.

Truist is a financial services company. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Truist was founded in 1872 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-22 Zaloni

Durham, North Carolina, United States

Zaloni is a provider of data technology solution delivery software. Zaloni Arena Data Governance platform rapidly and securely delivers trusted data for advanced analytics and AI/ML use cases. Zaloni Arena brings efficiency to complex data environments through an intelligent and collaborative data catalog, automated governance, and unified observability to reduce IT costs and accelerate time to insight. Zaloni is based in Durham, North Carolina.

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