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M&A Deal Summary

Avantax Acquires HK Financial Services

On January 7, 2020, Avantax acquired financial services company HK Financial Services for 160M USD

Acquisition Highlights
  • This is Avantax’s 3rd transaction in the Financial Services sector.
  • This is Avantax’s 6th largest (disclosed) transaction.
  • This is Avantax’s 12th transaction in the United States.
  • This is Avantax’s 1st transaction in Iowa.

M&A Deal Summary
Date 2020-01-07
Target HK Financial Services
Sector Financial Services
Buyer(s) Avantax
Deal Type Add-on Acquisition
Deal Value 160M USD

Target

HK Financial Services

Dubuque, Iowa, United States
HK Financial Services collaborates with CPA firms across the nation to provide a holistic approach to the wealth management needs of clients. HK Financial Services' comprehensive approach to wealth management ensures clients receive the guidance they can trust, planning they can understand and financial strategies that make a difference.

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Buyer(S) 1

Buyer

Avantax

Coppell, Texas, United States
Category Company
Founded 1983
Sector Financial Services
Employees727
Revenue 666M USD (2022)
DESCRIPTION

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 15 of 19
Sector: Financial Services M&A 3 of 5
Type: Add-on Acquisition M&A Deals 12 of 16
State: Iowa M&A 1 of 1
Country: United States M&A 12 of 16
Year: 2020 M&A 1 of 1
Size (of disclosed) 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-19 1st Global

Dallas, Texas, United States

1st Global, Inc. is a tax-focused wealth management company. 1st Global has been a major growth consultant for market-dominating CPA firms that seek to be the preeminent providers of high benefit services to their most valued clients.

Buy $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-30 GuideVine

New York, New York, United States

GuideVine provides conversion-focused platforms and tools designed to organically grow clients, increase marketing ROI and optimize marketing budgets. GuideVine was founded in 2014 and is based in New York City.

Buy -
Mergr

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