M&A Deal Summary

GTCR Acquires AssetMark

On April 25, 2024, private equity firm GTCR acquired financial services company AssetMark for 2.7B USD

Acquisition Highlights
  • This is GTCR’s 11th transaction in the Financial Services sector.
  • This is GTCR’s largest (disclosed) transaction.
  • This is GTCR’s 135th transaction in the United States.
  • This is GTCR’s 11th transaction in California.

M&A Deal Summary
Date 2024-04-25
Target AssetMark
Sector Financial Services
Buyer(s) GTCR
Deal Type Going Private
Deal Value 2.7B USD
Advisor(s) Morgan Stanley (Financial)
Davis Polk & Wardwell (Legal)

Target

AssetMark

Concord, California, United States
AssetMark is a provider of extensive wealth management and technology solutions that power independent financial advisers and their clients. AssetMark provides an end-to-end experience, spanning nearly all elements of an adviser’s engagement with his or her client from initial conversations to ongoing financial planning discussions, including performance reporting and billing. AssetMark is was incorporated in 1996 and is based in Concord, California.

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Buyer(S) 1

Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 140 of 142
Sector (Financial Services) 11 of 11
Type (Going Private) 7 of 8
State (California) 11 of 11
Country (United States) 135 of 137
Year (2024) 1 of 3
Size (of disclosed) 1 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-12 RevSpring

Nashville, Tennessee, United States

RevSpring is a provider of multi-channel billing and communications solutions to the healthcare and financial services industries. The company helps customers accelerate revenue through an end-to-end platform of offerings that includes physical and electronic invoices, consumer payment portals, data cleansing solutions, and analytics tools that validate consumer identities and optimize engagement. It serves a diversified client base of approximately 2,000 health systems & hospitals, revenue cycle management providers, and financial services organizations. RevSpring was formed in 1997 and is based in Wixom, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-29 SurModics

Eden Prairie, Minnesota, United States

SurModics provides surface modification coating technologies and in vitro diagnostic (IVD) products to the healthcare industry. Its two core businesses include: Medical Device Coatings – lubricious hydrophilic coatings, hemocompatible hydrophilic coatings, and advanced drug delivery systems; and In Vitro Diagnostics (IVD) – immunoassay reagents that improve the performance of in vitro diagnostic tests as well as custom coatings and stabilization products for Molecular Diagnostic applications. Surmodics was founded in 1979 and is based in Eden Prairie, Minnesota.

Buy $627M
Mergr

Product

Company

Legal