M&A Deal Summary

Raymond James Financial Acquires Northwest Plan Services

On December 10, 2020, Raymond James Financial acquired business services company Northwest Plan Services from WestView Capital Partners and Five Points Capital

Acquisition Highlights
  • This is Raymond James Financial’s 1st transaction in the Business Services sector.
  • This is Raymond James Financial’s 6th transaction in the United States.
  • This is Raymond James Financial’s 1st transaction in Washington.

M&A Deal Summary
Date 2020-12-10
Target Northwest Plan Services
Sector Business Services
Buyer(s) Raymond James Financial
Sellers(s) WestView Capital Partners
Five Points Capital
Deal Type Add-on Acquisition

Target

Northwest Plan Services

Seattle, Washington, United States
Northwest Plan Services, Inc. is an independent recordkeeper and administrator of retirement plans. The Company provides a comprehensive suite of services for 401(k), profit sharing, defined contribution plans, defined benefit pension plans, and other plan types. In addition to recordkeeping, administration, compliance and participant services, the Company provides consulting, employee communication and actuarial services to a client base ranging from small to medium-sized companies having 50 to 500 employees to large, S&P 500 clients with tens of thousands of employees. Northwest Plan Services was formed in 1994 and is based in Seattle, Washington.

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Buyer(S) 1

Buyer

Raymond James Financial

St. Petersburg, Florida, United States
Category Company
Founded 1962
Sector Financial Services
Employees18,000
Revenue 11.5B USD (2023)
DESCRIPTION
Raymond James' corporate headquarters located in St. Petersburg, Florida.
Raymond James' corporate headquarters located in St. Petersburg, Florida.

Raymond James Financial is a financial holding company, through its subsidiaries, that is engaged in the underwriting, distribution, trading, and brokerage of equity and debt securities, as well as the sale of mutual funds and other investment products in the United States, Canada, and Europe. Raymond James Financial was founded in 1962 and is based in St. Petersburg, Florida.

DEAL STATS #
Overall 8 of 10
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 6 of 8
State (Washington) 1 of 1
Country (United States) 6 of 8
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-20 Scout Investments

Kansas City, Missouri, United States

Scout Investments and its Reams Asset Management division have a combined $27 billion under management and advisement. Reams is an institutional-focused fixed income specialist, while Scout is an equity asset manager.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-20 TriState Capital Bank

Pittsburgh, Pennsylvania, United States

TriState Capital Bank is a commercial bank dedicated to providing customized banking solutions for middle-market businesses, professionals. TriState Capital Bank was founded in 2006 and is based in Pittsburgh, Pennsylvania.

Buy $1.1B

Seller(S) 2

SELLER

WestView Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

WestView Capital Partners is a private equity firm focused on investing in lower middle-market companies. WestView looks to commit between $20 and $100 million in a variety of recapitalization, growth financing, buyout and consolidation transactions. Prospective companies generally exhibit consistent growth and financial performance as well as sustainable competitive advantages and market position. Sectors of interest include business services, industrial and manufacturing, distribution and logistics, consumer products and retail, healthcare services, environmental services, and media/publishing. The Firm's geographic preference is North America. WestView Capital Partners was formed in 2004 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 27 of 34
Sector (Business Services) 5 of 5
Type (Add-on Acquisition) 13 of 15
State (Washington) 1 of 1
Country (United States) 27 of 34
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-15 The Paper Store

Acton, Massachusetts, United States

The Paper Store owns and operates a chain of specialty gift stores in New England. It offers gifts and more for every gift giving occasion, including greeting cards, jewelry, fashion apparel and accessories, children’s products, sports apparel, stationery and books among many other product categories. The Paper Store is based in Acton, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 CloudWave

Marlborough, Massachusetts, United States

CloudWave is a full-service cloud services provider, technical consultancy, and technology solutions integrator for MEDITECH. CloudWave’s cloud services offerings include OpSus|Live, fully-managed MEDITECH hosting services, and OpSus|Recover, disaster recovery services for MEDITECH and enterprise applications. CloudWave was founded in 1991 and is based in Chagrin Falls, Ohio.

Sell -
SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.

DEAL STATS #
Overall 40 of 58
Sector (Business Services) 5 of 9
Type (Add-on Acquisition) 12 of 24
State (Washington) 1 of 1
Country (United States) 40 of 58
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 ATRO Engineered Systems

St. Clair, Missouri, United States

ATRO Engineered Systems is a designer, manufacturer, and distributor of polyurethane parts for heavy-duty trucks and equipment. ATRO Engineered Systems was founded in 1987 and is based in St. Clair, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-11 EIS

Bethesda, Maryland, United States

EIS provides powerful software and related solutions to public sector customers with applications primarily in large-scale data analytics for security and artificial intelligence. EIS provides outbound and inside sales, business development, contract management, and back-office functions to support government sales. EIS offers a complete line of software products, software maintenance, and services from SAS. EIS was founded in 1999 and is based in Bethesda, Maryland.

Buy -
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