Private equity firm Genstar Capital is partner with management to acquire a majority interest in Mercer Advisors from Lovell Minnick Partners
Mercer is a leading registered investment advisor with a full suite of wealth management services and over 30 years of experience. The Company services primarily the mass-affluent and high-net-worth clients and today has a strong base of individual clients with assets of nearly USD6 billion. Mercer Advisors offers comprehensive wealth management solutions, including: financial planning, investment management, tax management, retirement income and benefits planning, and estate planning.
Genstar's operational expertise and industry experience will be valuable in assisting the company in its continued expansion, both in terms of scale and service offerings. According to David H Barton, President and Chief Executive Officer of Mercer Advisors, the transaction provides seamless continuity for Mercer Advisors and its clients. "This acquisition benefits our clients and employees, as well as the long-term strategy of our firm and provides for continuing a renewed private equity partnership first established with Lovell Minnick. Genstar has a long history of supporting its portfolio companies and shares our belief in a client-centric culture and holistic service model. Genstar's capital investment will allow us to further invest in growth, both organically and through acquisitions, and elevate the value proposition we offer our current and future clients."
Anthony J Salewski, Managing Director of Genstar, says: "Genstar has followed Mercer Advisors for a number of years, and this investment demonstrates our continued commitment to investing in targeted growth segments within the financial services industry. Mercer has delivered consistent growth over the past several years, and we look forward to partnering with Dave and his management team to accelerate that trajectory."
Jeffrey D Lovell, Chairman of Lovell Minnick Partners, says: "We have enjoyed working closely with the Mercer management team over the past seven years to support the Company as it has grown into the leading business it is today. We are pleased management has formed a partnership with Genstar, whose interests and plans align well with the Company's strategy."
The transaction is expected to be completed in the second quarter of 2015.
