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Parthenon Capital Partners and Wells Fargo & Company (NYSE:WFC) have entered into a definitive agreement for Parthenon Capital Partners to acquire Wells Fargo’s HD Vest Financial Services business.
Following the transaction, HD Vest’s existing management team, led by Roger Ochs, will continue to operate the business. Founded in 1983 and based in Irving, TX, HD Vest provides independent financial solutions to over 1.8 million retail investors through an advisor base of over 4,800 securities-licensed tax professionals.
Ochs, says: “We are excited to partner with Parthenon Capital Partners to complete the purchase of HD Vest from Wells Fargo. As a standalone
David Miller, Partner at Cheviot Asset Management, believes that whilst austerity measures have been passed, this will not do much to soothe the nerves of investors, who will still be worried about how Greek voters will cooperate with the plans…
Rational investors quite rightly believe that Germany will use its financial strength to restore stability to the Eurozone and that when Greece defaults it will be in a controlled manner. Very similar to when JP Morgan bought Bear Stearns in March 2008. Avoidance of contagion was then, and is now with Greece, the main priority. Unfortunately investors are rather more
IPO proceeds in the United States surpassed USD10 billion for the third consecutive quarter, signaling the ongoing strength and attractiveness of the IPO market as an avenue to raise capital, according to US IPO Watch – a quarterly and annual analysis of IPOs on US stock exchanges by PwC US.
As of June 27, IPO proceeds in the second quarter reached USD11.9 billion compared to USD5.2 billion in the second quarter of 2010 representing a 129 percent increase in total proceeds raised. The same period also witnessed an increase in IPO volume to 47 IPOs compared to 41 in the
AXA Private Equity, a leading European diversified private equity firm, announces it has signed an agreement with Barclays for the acquisition of a USD740m (GBP460m) portfolio of limited partnership interests and co-investments in private equity buyout funds. The portfolio does not include any investments managed by Barclays Private Equity. The purchase price for these assets remains undisclosed.
This deal is AXA Private Equity’s second significant transaction in a month, following its USD1.7 billion acquisition of a portfolio of assets from Citigroup on 8 June. In 2010, AXA Private Equity’s Fund of Funds business invested over USD3bn mainly through its acquisitions
The Catalan company Exea Empresarial, holding company of the Puig family represented by Altana, has partnered with Hervé Lesieur, the private equity fund Aurica and Banco Sabadell to acquire Laboratoires Dermatologiques d’Uriage.
This acquisition will enable Exea Empresarial to consolidate the cosmetic brands portfolio of the Puig family, who already owns Laboratoires Payot. This acquisition from the Bouchara family was achieved in partnership with Hervé Lesieur, the chairman of Laboratoires Payot, the Catalan private equity fund Aurica and Banco Sabadell. Exea intends to capitalise on the reputation of the Uriage brand and thermal spring to develop the international market penetration
As the economy slowly improves, private equity group leaders say they have money to spend and are actively seeking companies to acquire, according to a survey of private equity group leaders rby RSM McGladrey, a leading accounting and consulting firm in the US.
"Just because you have cash in your pocket doesn’t mean you should buy the car on the lot you are told is the best value," says Don Lipari, national executive director of private equity services for RSM McGladrey. "Savvy shoppers have done their research and sought good advice on both price and fit. They truly understand what
PerTrac has launched new releases of its analytics solutions, PerTrac Analytics 7.2 and PowerLink 1.2. The powerful, new versions handle all data frequency types including daily data for investment analysis, strategy comparison and fund benchmarking.
In response to investors’ increased need to balance risk and liquidity, the investment industry, including alternatives, has been moving to funds that provide daily NAVs. This requires high frequency analysis to access value and liquidity.
“Investors and funds need to be able to analyse daily and weekly data quickly and comprehensively,” says Brendan Dolan (pictured), Co-President of PerTrac. “Our new release handles daily data and
Mid-market private equity investor LDC has backed the management team of Bradford-based Driver Hire Investments Group Limited (Driver Hire), the franchised provider of temporary and permanent personnel to the logistics and distribution industries, to support its continued growth.
Driver Hire, which was originally established in 1983, operates nationally through a 100-strong network of offices, predominantly owned and operated by franchisees. It services around 5,000 corporate customers with fully compliant LGV, van, fork lift truck and fleet car drivers, warehouse operatives and professional logistics managers on both a short-term and long-term basis. It is also now one of the UK’s leading
Square 1 Bank has appointed Phil Gager as Senior Vice President covering the Northeast region, and Ella van Gool (pictured) to the same position out of Square 1’s Menlo Park office covering the Silicon Valley.
Gager spent 10 years with Capital Advisors Group serving venture-backed companies most recently as Senior Vice President of Business Development, where he brought in over USD800 million in new assets, 40 new client relationships and opened up new markets in the Midwest and Southeast regions. He originally joined the firm as a member of the marketing department and rose to the level of Marketing Director.
Dynamics Inc has closed an oversubscribed USD35 million Series B round of financing led by new investor Bain Capital Ventures. Dynamics launched its award-winning Card 2.0 technology last fall, and its products are currently in consumer trials with several top multinational payment card issuers.
Dynamics will use the funding to increase the size of its team and production capacity to support the continued US deployment of its Card 2.0 technology, which debuted at DEMO Fall 2010, winning the title DEMOgod and the USD1M People’s Choice Award. Card 2.0 also won Best of Show at FinovateFall 2010 and Best in Show
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