M&A Deal Summary

Kestra Financial Acquires Reliance Trust Company Of Delaware

On October 22, 2018, Kestra Financial acquired financial services company Reliance Trust Company Of Delaware from FIS Global

Acquisition Highlights
  • This is Kestra Financial’s 1st transaction in the Financial Services sector.
  • This is Kestra Financial’s 2nd transaction in the United States.
  • This is Kestra Financial’s 1st transaction in Delaware.

M&A Deal Summary
Date 2018-10-22
Target Reliance Trust Company Of Delaware
Sector Financial Services
Buyer(s) Kestra Financial
Sellers(s) FIS Global
Deal Type Divestiture

Target

Reliance Trust Company Of Delaware

Wilmington, Delaware, United States
Reliance Trust Company Of Delaware is a limited purpose trust company with more than $7 billion in assets under administration. RTCDE has more than 90 employees in seven locations and accepts appointments as Agent for Trustee/Guardian/Executor, Co-Trustee, Custodian, Discretionary Trustee, and Directed Trustee for all types of personal trust accounts. RTCDE works with financial advisors to offer trust services that preserve the advisor/client relationship, administering more than 5,000 trust accounts including Life Insurance Trusts and Special Needs Trusts.

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Buyer(S) 1

Buyer

Kestra Financial

Austin, Texas, United States
Category Company
Founded 1997
Sector Financial Services
DESCRIPTION

Kestra Financial is a provider of independent advisor platforms that empowers sophisticated independent financial professionals, including traditional and hybrid RIAs, to prosper, grow and provide superior client service. Kestra Financial was founded in 1997 and is based in Austin, Texas.

DEAL STATS #
Overall 2 of 5
Sector (Financial Services) 1 of 3
Type (Divestiture) 2 of 2
State (Delaware) 1 of 1
Country (United States) 2 of 5
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-08 Grove Point

Rockville, Maryland, United States

Grove Point is an independent wealth management firm that serves approximately 400 independent financial professionals with $15 billion in client assets. Grove Point was formed in 1984 and is based in Rockville, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-14 Vector Wealth Management

Minneapolis, Minnesota, United States

Vector Wealth Management offers comprehensive financial planning and investment management for a wide range of clients, including individuals, families, business owners, and corporate executives. Vector Wealth Management uses a goals-based planning approach to help guide their clients through complicated life events and major financial decisions.

Buy -

Seller(S) 1

SELLER

FIS Global

Jacksonville, Florida, United States
Category Company
Founded 1968
Sector Financial Services
Employees60,000
Revenue 9.8B USD (2023)
DESCRIPTION
FIS' corporate headquarters in Jacksonville, Florida.
FIS' corporate headquarters in Jacksonville, Florida.

FIS Global is a provider of core processing for financial institutions; card issuer and transaction processing services; and outsourcing services to financial institutions and retailers. FIS Global was incorporated in 1968 and is based in Jacksonville, Florida.

DEAL STATS #
Overall 4 of 5
Sector (Financial Services) 1 of 2
Type (Divestiture) 3 of 4
State (Delaware) 1 of 1
Country (United States) 3 of 4
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-04 Certegy

Clearwater, Florida, United States

Certegy is a provider of credit, debit and merchant card processing, e-banking, check risk management and check cashing services to over 6,000 financial institutions, 117,000 retailers and 100 million consumers worldwide. Certegy is based in Clearwater, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-18 Worldpay

Jacksonville, Florida, United States

Worldpay is a provider of payment acceptance services. The company offers a broad suite of payment processing services that enable its clients to meet their payment processing needs through a single provider, including in omnichannel environments that span point-of-sale, e-commerce, and mobile devices. Worldpay was established in 2009 and is headquartered in Jacksonville, Florida.

Buy $43.0B
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