M&A Deal Summary

Genstar Capital and Oak Hill Capital Acquire Mercer Advisors

On March 25, 2015, private equity firms Genstar Capital and Oak Hill Capital acquired financial services company Mercer Advisors from Lovell Minnick Partners and Caltius Structured Capital

Acquisition Highlights
  • This is Genstar Capital’s 6th and Oak Hill Capital’s 4th transaction in the Financial Services sector.
  • This is Genstar Capital’s 44th and Oak Hill Capital’s 43rd transaction in the United States.
  • This is Genstar Capital’s 2nd and Oak Hill Capital’s 3rd transaction in Colorado.

M&A Deal Summary

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

Target

Mercer Advisors

Denver, Colorado, United States
Mercer Advisors is an independent RIA 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. Mercer Advisors was founded in 1985 and is based in Denver, Colorado.

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Buyer(S) 2

Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
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 49 of 109
Sector (Financial Services) 6 of 11
Type (Secondary Buyout) 15 of 49
State (Colorado) 2 of 3
Country (United States) 44 of 101
Year (2015) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-09 Orion

Omaha, Nebraska, United States

Orion is a provider of the tech-enabled fiduciary process that transforms the advisor-client relationship by enabling financial advisors to Prospect, Plan, Invest, and Achieve within a single, connected, technology-driven experience. Orion was founded in 1999 and is based in Omaha, Nebraska.

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

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
Buyer

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 50 of 76
Sector (Financial Services) 4 of 5
Type (Secondary Buyout) 14 of 25
State (Colorado) 3 of 3
Country (United States) 43 of 69
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 SWS Group

Dallas, Texas, United States

SWS Group, Inc. is a Dallas-based company offering a broad range of investment and financial services through its subsidiaries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-20 VetCor

Norwell, Massachusetts, United States

VetCor owns and operates a national family of 272 veterinary hospitals employing over 4,700 veterinarians and supporting staff. VetCor hospitals provide a full range of general medical and surgical services for pets, as well as pharmacy needs and ancillary services such as boarding, grooming, and pet products. VetCor was founded in 1997 and is based in Norwell, Massachusetts.

Buy -

Seller(S) 2

SELLER

Lovell Minnick Partners

Investor Investor Investor Investor Investor


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

Lovell Minnick Partners is a private equity firm that targets investments in financial services companies located in North America and Europe. 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 $40 to $150 million of equity capital per investment. Prospective transaction situations include divestitures, management buyouts, growth capital financings, and recapitalizations. Lovell Minnick was formed in 1999 and is headquartered in Radnor, Pennsylvania.


DEAL STATS #
Overall 16 of 30
Sector (Financial Services) 16 of 25
Type (Secondary Buyout) 5 of 9
State (Colorado) 2 of 3
Country (United States) 16 of 29
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-10 361 Capital

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

Jericho, New York, United States

J.S. Held is a provider of specialized consulting services to address complex and high-value insurance claims and construction-related matters. J.S. Held was founded in 1974 and is based in Jericho, New York.

Buy -
SELLER

Caltius Structured Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.4B USD
Size Large
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 32
Sector (Financial Services) 2 of 2
Type (Secondary Buyout) 8 of 13
State (Colorado) 1 of 1
Country (United States) 19 of 32
Year (2015) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-17 Pacific Crest Securities

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

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 -