M&A Deal Summary

TA Associates and Onex Partners Acquire Wealth Enhancement Group

On July 31, 2019, private equity firms TA Associates and Onex Partners acquired financial services company Wealth Enhancement Group from Lightyear Capital

Acquisition Highlights
  • This is TA Associates’ 41st and Onex Partners’ 1st transaction in the Financial Services sector.
  • This is TA Associates’ 224th and Onex Partners’ 39th transaction in the United States.
  • This is TA Associates’ 4th and Onex Partners’ 2nd transaction in Minnesota.

M&A Deal Summary

Date 2019-07-31
Target Wealth Enhancement Group
Sector Financial Services
Buyer(s) TA Associates
Onex Partners
Sellers(s) Lightyear Capital
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)
Goodwin Procter LLP (Legal)

Target

Wealth Enhancement Group

Plymouth, Minnesota, United States
website
Wealth Enhancement Group's corporate headquarters in Plymouth, Minnesota.
Wealth Enhancement Group's corporate headquarters in Plymouth, Minnesota.
Wealth Enhancement Group is a comprehensive wealth management firm that provides team-based financial planning, estate planning, retirement income planning, insurance, tax strategies, and investment management services. Wealth Enhancement Group was founded in 1997 and is based in Plymouth, Minnesota.

Search 179,363 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates Management LP is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $50 and $500 million per transaction. TA currently manages approximately $24 billion of capital and proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $150 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments up to $75 million. TA's geographic preference is North America and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 289 of 340
Sector (Financial Services) 41 of 44
Type (Secondary Buyout) 42 of 60
State (Minnesota) 4 of 4
Country (United States) 224 of 253
Year (2019) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-31 Aldevron

Fargo, North Dakota, United States

Aldevron serves the biotechnology industry with the custom production of nucleic acids, proteins, and antibodies. Thousands of clients use Aldevron-produced plasmids, RNA, and gene editing enzymes for projects ranging from discovery research to clinical trials to commercial applications. These products are critical raw materials and key components in commercially available drugs and medical devices. Aldevron was founded in 1998 and is based in Fargo, North Dakota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-26 Gong Cha Group

Kaohsiung City, Taiwan

Gong Cha Group is a provider of premium quality bubble and milk tea, sourcing product from select Taiwanese tea estates and offering customers freshly brewed tea every four hours. Gong Cha Group was founded in 2006 and is based in Kaohsiung City, Taiwan.

Buy -
Buyer

Onex Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Onex Partners is the private equity investment arm of Onex Corp., a Canadian based public investment and asset management firm that also invests in real estate and credit securities. Onex Partners targets investments in large companies, and ONCAP which invests in smaller middle-market companies. Both groups consider North American businesses in a wide range of industries with a special interest in aerospace, healthcare, and industrial companies. Prospective transaction situations include corporate carve-outs where the firm can leverage restructuring capabilities. Onex Corp. was established in 1984 and is based in Toronto with an additional office in New York City.


DEAL STATS #
Overall 52 of 57
Sector (Financial Services) 1 of 1
Type (Secondary Buyout) 13 of 15
State (Minnesota) 2 of 2
Country (United States) 39 of 42
Year (2019) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-08 York Risk Services Group

Parsippany, New Jersey, United States

York Risk Services Group is a provider of customized claims management, managed care, risk management, pool administration, and specialized loss adjusting services to markets including public entities, programs, carriers and all types of self-insureds.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-19 Jack s

Homewood, Alabama, United States

Jack's Family Restaurants LP is an operator of quick-service restaurants specializing in burgers, fried chicken, made-from-scratch biscuits, crinkle-cut fries, and hand-dipped shakes. Jack's Family Restaurants LP was founded in 1960 and is based in Homewood, Alabama.

Sell -

Seller(S) 1

SELLER

Lightyear Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 3.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Lightyear Capital is a specialist private equity firm that pursues brand-name businesses in the financial services sector. Lightyear looks for companies with stable, recurring revenues that operate in growing markets. Transaction strategies include leveraged buyouts, recapitalizations, restructurings and consolidations. Lightyear Capital was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 25 of 28
Sector (Financial Services) 11 of 12
Type (Secondary Buyout) 6 of 7
State (Minnesota) 2 of 2
Country (United States) 20 of 23
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-27 Lendmark Financial Services

Lawrenceville, Georgia, United States

Lendmark Financial Services is a consumer finance company specializing in providing a variety of personal loans, automobile loans, and retail merchant sales finance services. Lendmark Financial Services was founded in 1996 and is based in Lawrenceville, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Vehlo

Knoxville, Tennessee, United States

Vehlo is a provider of software and financial solutions for the automotive repair industry. Its product suite consists of everything the modern auto service provider needs to deliver an excellent customer experience and run a profitable business. Vehlo is based in Knoxville, Tennessee.

Buy -