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As part of our close collaboration with our clients and companies, we provide news about our firm, our portfolio companies and relevant commentary from our team.

We are available to discuss these topics with you and encourage you to contact our PR team at Prosek Partners.

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Nov 12,
2024

oneZero Announces Investment from Golden Gate Capital
11.12.24

oneZero Announces Investment from Golden Gate Capital

Investment Will Drive Further Organic Growth and M&A, Building on Recent Momentum Across Institutional Product Lines

November 12, 2024

PHILADELPHIA, LOS ANGELES & NEW YORK - oneZero Financial Systems (“oneZero” or the “Company”), a global leader in multi-asset enterprise trading technology solutions, today announced an investment from Golden Gate Capital, a San Francisco-based private equity firm. oneZero’s current financial partner, Lovell Minnick Partners (“LMP”), will continue to support oneZero alongside Golden Gate Capital.

Founded in 2009 by Andrew Ralich and Jesse Johnson, oneZero is a leading capital markets technology platform providing mission critical software for multi-asset class execution, distribution and analytics to brokers, institutional banks and liquidity providers. The Company’s platform comprises three components – Hub, EcoSystem and Data Source – which handle more than $250 billion ADV, 12 million transactions and 150 billion quotes per day, delivering a complete solution for pricing, execution, distribution and analytics.

In 2019, oneZero entered into a partnership with LMP, utilizing its extensive experience in scaling founder-run organizations to drive the Company’s growth. This foundational partnership has positioned oneZero to advance into its next phase of growth. The investment by Golden Gate Capital aims to further bolster the financial backing of the business, while Ralich and Johnson will continue to oversee oneZero’s day-to-day operations and execute on its current strategic roadmap, alongside the Company’s executive leadership team. Ralich will continue to serve as Chief Executive Officer and Johnson will continue to serve as Chief Technology Officer. They will remain the largest individual shareholders in the organization after close.

"Golden Gate Capital’s investment is a seamless extension of our beneficial relationship with LMP. This next stage investment, alongside LMP’s continued support, validates the clear opportunity we see to expand our role as a leading technology partner in the global OTC asset trading market,” said Ralich. “We're excited to partner with Golden Gate Capital, whose extensive resources and deep industry expertise will help us accelerate investment in our team and our organic product roadmap, while also expanding opportunities to grow the business through M&A.”

"oneZero’s recent momentum reinforces the strength of its development roadmap and organic growth strategy as it continues to drive differentiated and intelligent performance for its clients,” said Dan Haspel, a Managing Director at Golden Gate Capital. “We are confident that oneZero has the right leadership team and strategic plan in place to continue this impressive momentum and are thrilled to support the Company in the next chapter of its growth story.”

"This investment marks a significant milestone for both oneZero and LMP,” said Steve Pierson, Managing Partner at LMP. “Over the past five years, oneZero has demonstrated remarkable growth and product expansion, and we are confident that Golden Gate Capital will be an excellent partner to continue this trajectory. We are excited to continue supporting the company as it continues to grow for years to come.”

Houlihan Lokey served as exclusive financial advisor to oneZero and Gunderson Dettmer served as legal advisor to oneZero and LMP. Broadhaven Capital Partners served as financial advisor and Paul, Weiss, Rifkand, Wharton & Garrison served as legal advisor to Golden Gate Capital.

Financial terms of the investment were not disclosed.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity firm focused on partnering with management teams to build exceptional consumer, industrials, technology, and financial services companies. Since its founding in 2000, the firm has managed approximately $20 billion in cumulative committed capital. For more information, visit www.goldengatecap.com.

About oneZero

oneZero Financial Systems has been a leading innovator in multi-asset class enterprise trading technology since 2009. Its powerful software encompasses the Hub, EcoSystem and Data Source - three components that together provide a complete solution for execution, distribution and analytics. Through reliable connectivity, technology, infrastructure and market access, oneZero empowers financial institutions and brokers to compete effectively in the global financial markets through a globally compliant, liquidity-neutral solution. oneZero is certified to the standards of ISO 27001 information security management systems, and has development and operations centers in Asia, Australia, Europe and North America.

Click here to learn more about oneZero.
Nov 04,
2024

Growth Leaders of Wealth Management Podcast: Pathstone’s Mission to Become the Nation’s Largest Fiduciary for the Ultra Wealthy
11.04.24

Growth Leaders of Wealth Management Podcast: Pathstone’s Mission to Become the Nation’s Largest Fiduciary for the Ultra Wealthy

LMP Partner Brad Armstrong, along with Pathstone’s Co-founder and CEO Matthew Fleissig, President Kelly Maregni and CMO Lauren Ablow Fryefield recently joined Megan (Meg) Carpenter at Ficomm Partners on the Growth Leaders of Wealth Management podcast to discuss Pathstone’s journey from single family office to 23 locations, 750 team members, and $100 billion in assets under advisement and administration. In the episode, Brad also discusses what made our initial investment in 2019 attractive and how LMP has worked closely with the Pathstone team to achieve sustainable growth.
 
To listen to the full episode, click here.
Oct 29,
2024

LMP named to Inc. Magazine’s 2024 Founder-Friendly Investor List
10.29.24

LMP named to Inc. Magazine’s 2024 Founder-Friendly Investor List

FounderFriendly2024

We are so excited to be named to Inc. Magazine’s 2024 Founder-Friendly Investor list, which honors private equity and venture capital firms that are committed to supporting founder-led businesses.

At LMP, we are committed to collaborating with entrepreneurs and business owners to help them grow their companies, and we are grateful to be recognized as a trusted partner for founders for the fourth year in a row.

To learn more about the award and to see the full list of honorees, click here.

Lovell Minnick was included on Inc's Founder-Friendly Investor list in 2021, 2022, 2023 and 2024.  The Founder-Friendly Investor list is announced annually by Inc. based on information from the previous year, and the 2024 list, released on October 29, 2024, recognizes 269 investment firms committed to supporting founder-led companies. Private equity firms that have exited U.S. based, founder-led portfolio companies are eligible to apply. To be considered for the list, all firms, including Lovell Minnick, must submit an application and pay an application fee.  Inc. then surveys entrepreneurs who have sold their businesses to private equity and venture capital firms about their experiences partnering with the firm and gathers data on the growth of their companies during these partnerships.  Winning firms are selected based upon their investments and founder references. For more information about the selection criteria and process, please visit https://www.inc.com/founder-friendly-investors/2024. Inclusions on lists, rankings or awards may not be representative of a particular investor’s experience or Lovell Minnick’s or its Funds’ future performance, and there is no guarantee that similar rankings or awards will be obtained by Lovell Minnick in the future.
Oct 27,
2024

LMP Partner Jason Barg and Cohen & Company CEO speak on PE Hub about recent investment
10.27.24

LMP Partner Jason Barg and Cohen & Company CEO speak on PE Hub about recent investment

Following our recent investment in Cohen & Company, LMP Partner Jason Barg and Cohen & Company CEO Chris Bellamy spoke with Obey Martin Manayiti at PE Hub to discuss how the deal came to be, what made the investment attractive, and the opportunities LMP sees in the CPA sector.

“We believe growth trends in the CPA space are compelling,” said Jason Barg. “We are living in a world with growing regulatory complexity and the need for best-in-class advice is more pronounced than it has ever been.”
 
To read more about the investment and why we’re excited about our partnership with Cohen & Company, click here.
Oct 25,
2024

Lovell Minnick Partners Announces Growth Investment in Cohen & Company
10.25.24

Lovell Minnick Partners Announces Growth Investment in Cohen & Company

PHILADELPHIA, LOS ANGELES & NEW YORK, October 25, 2024 - Cohen & Company, a nationally recognized assurance, tax and business advisory firm is pleased to announce a strategic growth investment by Lovell Minnick Partners (LMP). LMP is a private equity firm focused on investments in financial services, business services and financial technology companies. This investment will help meet the growing needs of Cohen & Company clients across the firm’s many key industries and geographic markets, and provide capital for important investments in technology and expansion of service offerings.

Today Cohen & Company holds national prominence in the mutual fund, private equity, alternative investment and real estate industries, while also rooted in serving closely held businesses, family offices and high-net-worth individuals. Through this investment, Cohen & Company is well positioned to accelerate its multi-year strategic plan focused on growth, people, technology, quality initiatives and service area interests of its clients.

“LMP will be a valuable strategic partner, offering a unique perspective on our industry and the clients we serve, along with a dedicated focus on human capital, which is crucial to our growth strategy as an employer of choice,” says Cohen & Company CEO Chris Bellamy. “We are proceeding with conviction into this new chapter, motivated to work harder than ever for our stakeholders — our clients, our employees and our communities — to honor their trust in us and deliver value to these critical relationships.”

“Cohen & Company’s vision for the future and its longstanding reputation as a premier accounting, tax and advisory firm make them an ideal partner,” says Jason Barg, partner at LMP. Tom Hutchins, principal at LMP, adds, “We are excited to collaborate with Chris, the management team, employees and clients to continue to build on their successes and support their growth trajectory.”

This event marks the first institutional capital investment for Cohen & Company. The investment is expected to close on December 31, 2024, at which point the firm will also substantially increase the number of employee equity holders. “We are extremely proud to reward our exceptional team for the successes that have brought us to this point,” says Bellamy. “The increase in equity holders, combined with substantial reserves for future equity-based incentives, will further strengthen alignment as we work together to achieve our strategic goals.” 

Following the transaction close, the firm will operate in an alternative practice structure. Cohen & Company, Ltd., a licensed CPA firm, will provide attest services and will be led by Vince Curttright. Cohen & Co Advisory, LLC, not a licensed CPA firm, will provide business tax, advisory and other non-attest services, and will be led by Chris Bellamy. Although separately owned and governed, the two entities will both use Cohen & Co as their brand name. Under this new structure, partners and professionals of Cohen & Co will continue to work together seamlessly in serving clients.

Terms of the investment were not disclosed. The investment is subject to standard closing conditions. 

Hunton Andrews Kurth LLP served as legal counsel to Cohen & Company. Sidley Austin LLP served as legal counsel to LMP. 

About Cohen & Company
Named one of America's Most Recommended Tax and Accounting Firms by USA TODAY and one of the Best of the Best Firms by INSIDE Public Accounting, Cohen & Company offers assurance, tax and advisory services to clients throughout the U.S. and worldwide. The firm serves a broad range of clients, from privately held companies and their owners; to public and private funds, advisers and fund service providers within the investment industry; to Fortune 1000 multinational enterprises. Founded in 1977, Cohen & Company has more than 800 dedicated professionals across the U.S. and 12 offices in Illinois, Ohio, Maryland, Michigan, New York, Pennsylvania and Wisconsin. Through affiliated entities the firm also has an international presence in the Cayman Islands and Ireland. 

Click here to learn more about Cohen & Company.
Oct 24,
2024

Lovell Minnick Partners Announces Growth Investment in Americana Partners
10.24.24

Lovell Minnick Partners Announces Growth Investment in Americana Partners

PHILADELPHIA, LOS ANGELES & NEW YORK, October 24, 2024 - Americana Partners, LLC (“Americana” or the "Company"), an independent wealth management firm with over $8.5 billion in assets under management, today announced a strategic investment by funds managed by Lovell Minnick Partners LLC (“LMP”). LMP, a specialist private equity firm focused on high-growth, middle market services, and technology companies, will become the first outside institutional investor in Americana alongside the founders and management team. Americana’s leadership team and employees will continue to be significant owners of the business, and Americana will continue to be managed by its existing leadership team.

Founded in 2019 and headquartered in Houston, Americana offers wealth advisory and family office services, including alternative and traditional investment solutions. Americana serves high-net-worth and ultra-high-net-worth clients across the U.S. and recently added a division to serve Latin American clients. The Company celebrated its five-year anniversary in April 2024 and has grown rapidly since launching in 2019 with $2.6 billion in assets under management.

“We are thrilled to partner with LMP,” said Jason Fertitta, Americana’s CEO. “This is an important milestone for our firm, and it underscores our commitment to building the right destination for our clients and financial advisors. We chose to work with LMP because of their extensive track record in accelerating growth for successful wealth management organizations, their deep bench of resources to support strategic acquisitions, and their underlying philosophy as partners and investors. Together, we share a common vision for what we want to accomplish, and that starts with delivering the best solutions possible for our clients and creating an environment in which our employees and advisors can thrive.”

“Our experience investing in wealth management firms over the last quarter century helps us identify exceptional firms and management teams who share similar values and are seeking collaborative partners as they enter the next phase of growth. Our investments are partnerships, and we are aligned with the Americana team’s high-growth strategic vision. We look forward to working together to expand geographically, attract the highest quality financial advisors, and execute on strategic initiatives,” said Trevor Rich, Partner at Lovell Minnick Partners.

Brad Armstrong, Partner at Lovell Minnick Partners, added “The Americana organization has distinguished itself, not just in the exceptional growth they’ve experienced since their founding in 2019, but in the high caliber of people they’ve brought on board. We’re incredibly honored to have the opportunity to work alongside their team as investors and as partners.”

Piper Sandler & Co. served as exclusive financial advisor and Winstead served as legal counsel to Americana. Alston & Bird served as legal counsel to Lovell Minnick Partners.

About Americana Partners

Founded in 2019, Americana Partners is an independent wealth advisory firm working with a select group of families and individuals to help them simplify the management of their wealth. Headquartered in Houston and with offices in Austin, Dallas and Midland, Americana offers financial planning and investment management services. Americana is part of the Dynasty Financial Partners’ strategic solutions network.

Click here to learn more about Americana Partners.
Oct 16,
2024

Portfolio Company Pathstone Acquires Hall Capital Partners
10.16.24

Portfolio Company Pathstone Acquires Hall Capital Partners

Congrats to our portfolio company Pathstone who just announced the acquisition of Hall Capital Partners LLC! Click the link to learn more.
Oct 16,
2024

Portfolio Company Definiti Acquires Retirement Plan Solutions, Inc.
10.16.24

Portfolio Company Definiti Acquires Retirement Plan Solutions, Inc.

Congratulations to portfolio company Definiti LLC who has just announced the acquisition of Retirement Plan Solutions, Inc. (RPSI)!

Read more about the news here.
Aug 14,
2024

Portfolio Company Warner Pacific Acquires Ashmore Agency
08.14.24

Portfolio Company Warner Pacific Acquires Ashmore Agency

Exciting news from portfolio company Warner Pacific Insurance Services who recently announced its strategic acquisition of Ashmore Agency! Click here to read more.
Jul 30,
2024

Portfolio Company Net at Work Acquires Kensium
07.30.24

Portfolio Company Net at Work Acquires Kensium

Congratulations to portfolio company Net at Work who recently announced a strategic alliance with Kensium! The acquisition of Kensium's India-based Acumatica operations also marks the expansion of Net at Work’s presence more globally. Click here to read more.
Jul 24,
2024

Lovell Minnick Partners Appoints Richard Fuchs and Ron Garrow to Advisory Council
07.24.24

Lovell Minnick Partners Appoints Richard Fuchs and Ron Garrow to Advisory Council

JULY 24, 2024–PHILADELPHIA & LOS ANGELES & NEW YORK–Lovell Minnick Partners (“LMP”), a private equity firm investing in growth-oriented companies, today announced the appointment of Richard Fuchs and Ron Garrow to its Advisory Council. Richard and Ron each bring over 30 years of experience and leadership in financial services, healthcare, life sciences and manufacturing. The two will assist LMP in identifying and evaluating new investment opportunities as well as support LMP’s portfolio companies by bringing strategic perspectives of an organization’s workforce, culture, and operations.
 

Richard Fuchs has more than 35 years of experience in the healthcare industry and has held executive leadership positions at Health Net (Centene), United Healthcare, Anthem (Elevance), and Walmart. Mr. Fuchs most recently served as Walmart’s SVP of Strategy, Innovation and Sales, bringing Walmart’s healthcare capabilities to market. Previously, at Anthem, he developed a National Labor Organization across the 14 Anthem Blue Cross and Blue Shield markets. Prior, Mr. Fuchs was at United Healthcare, leading their Public and Labor sector sales organization, growing their membership by more than one million and over $5 billion in annualized revenue. His career began at Health Net, where he became a business unit leader on both the East and West Coast. Mr. Fuchs received his Bachelor of Arts in Political Science from Wittenberg University.


Ron Garrow has over 30 years of experience as an executive leader, managing employees and facilitating various initiatives to ensure that organizations remain aligned with overall goals. At Gartner, Mr. Garrow worked with Chief Human Resources Officers (CHROs) and advised clients in preparation for board presentations and engagement. He also previously served as CHRO at PPD, where he provided HR oversight and support for 30,000+ employees in 98 offices across 47 countries. Earlier, Mr. Garrow served as the CHRO with Belk, working closely with the CEO on margin improvements, inventory, and private brand growth. At MasterCard, he maintained accountability for global human resources in 210 countries. Mr. Garrow received his MBA from Pfeiffer University and a Bachelor of Arts in Business Administration from the University of North Carolina.


"On behalf of LMP, we are thrilled to welcome Richard and Ron to our Advisory Council," says Steve Pierson, Managing Partner at LMP. "Each bring a wealth of industry insight and experience in their respective fields. We are confident their contributions will be critical to supporting the growth and development of our portfolio companies."


“I’m excited to be joining such an esteemed group of Advisors,” says Richard Fuchs. “I look forward to collaborating with the LMP’s outstanding team to support its portfolio companies’ growth initiatives.”
 

"I am honored to join LMP's Advisory Council," says Ron Garrow. "I look forward to utilizing my industry expertise and advancing the growth trajectory of LMPs portfolio companies as they continue to scale.”

 
Richard and Ron’s appointment further reinforces LMP's commitment to leveraging the expertise of industry leaders to navigate the evolving landscape of financial services, financial technology and business services and delivering value to their investors and portfolio companies.

 
LMP’s Advisory Council members are independent contractors that serve as advisors to the firm as well as its funds and their portfolio companies, and receive compensation for such services from LMP and its affiliates, which has the potential to influence statements made by them.

Advisory Council Richard Fuchs Ron Garrow
Jul 15,
2024

Principal Spencer Hurst speaks with John Adams at American Banker
07.15.24

Principal Spencer Hurst speaks with John Adams at American Banker

Principal Spencer Hurst recently spoke with John Adams at American Banker to discuss general trends in the payments and fintech industries, federal fund rates, and his outlook on the industry for the rest of the year. 

Click here for the full article.
Jul 10,
2024

Principal Spencer Hurst speaks with Buyouts regarding tech investing trends and how to navigate in a slower economy.
07.10.24

Principal Spencer Hurst speaks with Buyouts regarding tech investing trends and how to navigate in a slower economy.

Principal Spencer Hurst recently spoke with Buyouts to discuss navigating market uncertainties and value creation strategies in a slower economy.
Click here to read more. 

 

Principal Spencer Hurst recently spoke with Claire Coe Smith at Buyouts to discuss current trends in tech investing, including what makes the sector attractive and applying AI strategies across a portfolio.
Click here to read more.
Jul 01,
2024

Keeping up with Lovell Minnick Partners: Mid-Year Review 6-2024
07.01.24

Keeping up with Lovell Minnick Partners: Mid-Year Review 6-2024

Discover the newest edition of "Keeping Up with Lovell Minnick Partners: 2024 Mid-Year in Review"! Dive into our latest insights by reading the full newsletter here.

KUWLMP 2024 Mid-Year
Jul 01,
2024

Hear Partner Brad Armstrong speak on Northstar's Private Equity Fast Pitch podcast with Jeff Henningsen
07.01.24

Hear Partner Brad Armstrong speak on Northstar's Private Equity Fast Pitch podcast with Jeff Henningsen

Partner Brad Armstrong recently spoke with Jeff Henningsen on Northstar’s Private Equity Fast Pitch podcast to discuss his path to PE, as well as LMP’s multisector investment strategy, our approach to value creation and how we’ve weathered multiple market cycles in our 25-year history.

Click here to listen to the podcast episode.
May 08,
2024

Hear Bob Belke Speak with BluWave, LP Founder Sean Mooney on BluWave's Karma School of Business Podcast
05.08.24

Hear Bob Belke Speak with BluWave, LP Founder Sean Mooney on BluWave's Karma School of Business Podcast

Managing Partner Robert Belke recently spoke with BluWave, LP Founder and CEO Sean Mooney on BluWave's Karma School of Business Podcast about LMP’s approach to deal sourcing and value creation, as well as how Bob got his start in the industry, his interests and passions outside of work and the advice he would give to the next generation.

Don’t miss this insightful conversation! To listen to the podcast episode, please click here.

Bob Belke - BluWave Podcast
Apr 11,
2024

Pathstone's CEO Matt Fleissig Quoted in Barron's Article on PE Hunger for Wealth Management Firms
04.11.24

Pathstone's CEO Matt Fleissig Quoted in Barron's Article on PE Hunger for Wealth Management Firms

Check out what Matthew Fleissig, CEO of portfolio company Pathstone, has to say on the value of PE sponsorship in Barron's article “What’s Behind Private Equity’s Hunger for Wealth Management Firms.”

Barron's Article Quoting Matt Fleissig
Mar 20,
2024

Portfolio Company ACU-Serve Acquires Beyond HME
03.20.24

Portfolio Company ACU-Serve Acquires Beyond HME

Akron, OH – (March 20, 2024) - ACU-Serve, a leading provider of healthcare solutions, is
proud to announce its recent acquisition of Beyond HME, located in Siesta Key, Florida. This
strategic move signals a significant step forward for ACU-Serve as it expands its footprint in the
healthcare industry and enhances its service offerings.

The acquisition of Beyond HME, renowned for its exceptional resupply services, aligns
seamlessly with ACU-Serve's commitment to delivering comprehensive and high-quality
healthcare solutions to its clients. Beyond HME's expertise and resources will integrate
seamlessly into ACU-Serve's operations—bolstering its capabilities and enriching the services
provided to its valued customers.

"The acquisition of Beyond HME represents a pivotal moment for ACU-Serve as we continue to
pursue strategic growth opportunities in the healthcare sector," said Jim Knight, President of
ACU-Serve. "Beyond HME's reputation for excellence and its focus on re-supply services
complement our existing offerings, positioning us for even greater success in meeting the
evolving needs of our clients."

The acquisition process, completed swiftly within the past four months, reflects ACU-Serve's
commitment to agility and efficiency in executing strategic initiatives. As part of the transition,
nearly 30 employees from Beyond HME will join the ACU-Serve team, including Margaret
Lindskog as the Executive Vice President of Resupply, an accomplished veteran in the
healthcare industry. The Beyond HME team will contribute their expertise and dedication to
furthering the company's mission of providing exceptional healthcare solutions.

"At Beyond, our primary goal has been to construct a customer-centric approach, rooted in the
values of exceptional patient care and outcomes,” states Jim Dragatsis, CEO of Beyond HME.
“Our steadfast belief, like that at ACU-Serve, is that the success of our customers defines our
success. We stand poised to elevate resupply at ACU-Serve and to meet their standards of
excellence."

Effective Friday, March 15, 2024, Beyond HME officially became part of the ACU-Serve team,
marking the beginning of an exciting new chapter for both organizations and their stakeholders.
ACU-Serve looks forward to leveraging the synergies created by this acquisition to drive
innovation, enhance customer experiences, and achieve sustained growth.

For more information about ACU-Serve and its range of healthcare solutions, visit
acuservecorp.com.

About ACU-Serve:
ACU-Serve is a leading provider of comprehensive healthcare solutions, dedicated to delivering superior services and innovative technologies to healthcare organizations nationwide. With a commitment to excellence and customer satisfaction, ACU-Serve helps clients optimize their operations, streamline processes, and enhance patient care.
Mar 14,
2024

LMP Appoints Marshall Lux and Robert Orefice to Advisory Council
03.14.24

LMP Appoints Marshall Lux and Robert Orefice to Advisory Council

PHILADELPHIA & LOS ANGELES & NEW YORK--(BUSINESS WIRE)--Lovell Minnick Partners (“LMP”), a private equity firm investing in growth-oriented companies, today announced the appointment of Marshall Lux and Robert Orefice to its Advisory Council. Marshall and Robert bring decades of experience and expertise in financial services and go-to-market strategy, technology, risk management and leadership and will assist LMP in all aspects of investments and operations.

Marshall Lux brings over 35 years of experience and most recently served as Senior Partner at BCG and McKinsey, where he focused on all manner of Financial Services and Private Equity. He was also Chief Risk Officer for Chase, managing risk for the largest consumer bank in the US. Marshall also serves as an independent member of various Boards, including Mphasis, Flagstar and Guardian Life Mutual Funds. Marshall holds a Bachelor of Arts in Economics from the Woodrow Wilson School of Public and International Affairs at Princeton University and an M.B.A. from Harvard Business School.

Robert Orefice is an independent consultant and Product, Technology, and Agile Process Leader. He is also an entrepreneur and co-founder of Hakkiri Software, Inc., a boutique software vendor focused on enabling predictable software delivery through a product offering in the Atlassian Marketplace. Robert is currently serving as interim CTO of S&S Health, an LMP Portfolio company. Previously, he held transformational leadership roles at Aetion, a healthcare data analytics company, WebMD and Eze Software Group, leveraging his deep technical expertise from his time as a microprocessor designer and methodology leader at Advanced Micro Devices (AMD). Robert holds a Bachelor of Science in Computer Engineering from Rochester Institute of Technology and a Master of Science in Computer Engineering from Walden University.

"We are excited to welcome Marshall and Robert as the newest members of our Advisory Council,” says Steve Pierson, Managing Partner at LMP. “As trusted partners of the firm with decades of experience across their respective fields, both Marshall and Robert bring unique skillsets and industry insight that we believe will prove invaluable to the firm and our portfolio.”

“I am grateful for the opportunity to join LMP’s Advisory Council and work with the talented teams at the firm - and portfolio-company level,” says Marshall Lux. “I look forward to leveraging my expertise across financial services, technology and banking to support LMP and its portfolio with go-to-market and operational strategies as well as risk management.”

“I’ve had the opportunity to work alongside the LMP team during my time as interim CTO of S&S Health and have always had a deep appreciation for how they collaborate with management teams to help their portfolio companies grow,” says Robert Orefice. “As an entrepreneur, I know the importance of finding a supportive and experienced capital partner, and after gaining that firsthand experience with LMP, I’m excited to utilize my software industry expertise to help their portfolio companies scale and achieve their individual growth initiatives.”

Marshall and Robert’s appointment further reinforces LMP's commitment to leveraging the expertise of industry leaders to navigate the evolving landscape of financial services, financial technology and business services and deliver value to their investors and portfolio companies.

LMP’s Advisory Council members are independent contractors that serve as advisors to the firm as well as its funds and their portfolio companies, and receive compensation for such services from LMP and its affiliates, which has the potential to influence statements made by them.

Lux & Orefice
Feb 29,
2024

Portfolio Company London & Capital Group and Waverton Investment Management Announce Merger
02.29.24

Portfolio Company London & Capital Group and Waverton Investment Management Announce Merger

  • This strategic combination creates an industry-leading independent wealth manager.
  • Guy McGlashan, CEO of London & Capital, will be CEO of the combined entity.

London, 29TH February 2024 - UK-based wealth management companies London & Capital and Waverton announced today that they have reached an agreement to merge their businesses. This strategic move, which is subject to regulatory approval, will bring together the exceptional international advice and planning expertise of London & Capital with the investment performance and wealth solutions of Waverton to create a leading independent wealth management business.

The new combined entity will have an AUM of over £17 billion and bring together the two groups’ similar client-focused cultures, retaining their complementary investment styles focused on access to global markets and active and direct investment approaches. London & Capital and Waverton have both seen strong growth in recent years and this merger will expand client offerings and international footprints with enhanced investment opportunities, financial planning expertise and broader client propositions.

Lovell Minnick Partners (“LMP”), a US-based private equity firm investing in growth-oriented companies in financial services, and London & Capital’s majority shareholder, will take a majority shareholding in the combined business. LMP will provide growth capital and strategic backing to the combined company, enabling the delivery of enhanced client service, increased investment in technology, and continued product and geographic expansion.

Somers Ltd, the majority shareholder in Waverton since 2013, will continue as a significant shareholder in the new business.

Guy McGlashan, CEO of London & Capital, will be CEO of the combined business.

"We're genuinely thrilled to announce our merger with Waverton. Our shared commitment to a client-focused approach aligns seamlessly, and we believe this combination will elevate our ability to effectively scale while delivering unparalleled client service, investment opportunities, and wealth solutions,” said McGlashan. “Providing personalised service and retaining our entrepreneurial spirit has always been paramount, and the cultural fit with Waverton is perfect. This partnership marks a pivotal moment for all of us, promising not just growth but a continuation of the values and service excellence we're both proud to uphold. Nick and the team have built an exceptional business and I look forward to working with them on this next phase.”

“The merger of Waverton with London & Capital is a hugely exciting stage in Waverton’s evolution for our clients, our staff, and our shareholders,” said Nick Tucker, CEO of Waverton. “Our two businesses share a similar culture of providing outstanding client service combined with a laser like focus on investment performance and we look forward to strengthening our investment capability while enhancing our offerings in the wealth management and advisory services space. This partnership coupled with the support of LMP will accelerate the growth of our combined business for the benefit of all shareholders and I am looking forward to working with Guy to achieve our vision for the merged business.”

“We have a track record of successful partnerships with growing companies run by proven, dynamic management teams,” said Spencer Hoffman, Partner at LMP. “The combined experience and skillsets of these two businesses will provide an enhanced level of service for clients, creating a firm with scale and differentiation to be rivalled in the industry. We look forward to supporting Guy and the talented management teams to expand service offerings, enhance technology capabilities, and shape a prosperous future for our clients, employees, and stakeholders.”

Rothschild & Co advised London & Capital Group and Waverton Investment Management was advised by Spencer House Partners.

 
ABOUT LONDON & CAPITAL
Established in 1986, London & Capital is a specialist wealth and asset manager working with private and institutional clients. Headquartered in London, the company has over £6bn in Assets Under Management and 130 employees. It supports its clients in developing financial strategies, investing with a focus on capital preservation and providing clear, concise global reporting.

Many of London & Capital’s private clients are international, with finances, business interests, property, and family across multiple countries and they are recognised as market leaders in advising US connected persons. Their Institutional team specialise in working with insurance companies globally and provide an advice-led service akin to an outsourced CIO. With offices in London, Barcelona and Barbados, London & Capital is one of the few UK based wealth and asset managers which is UK (FCA), US (SEC) and EU (CNMV) regulated.

ABOUT WAVERTON
Waverton Investment Management Limited (“Waverton”) is an independent investment management business. Its investment approach is global, direct and active delivering top decile results. Waverton adopts a global perspective, investing directly into each asset class which are actively managed to ensure stable, long-term returns for clients. In doing so, they leverage the collective skills and experience of the investment team across global markets, embedding Environmental, Social and Governance (“ESG”) principles to maximise performance across four channels: Private Clients, Financial Advisers, Charities and Institutional Investors.   

Headquartered in London, and with offices in Edinburgh and Glasgow, Waverton is a growing firm with over £11bn in Assets Under Management (AUM) and 175 employees. The Group includes Waverton Wealth Planning LLP and Waverton Investment Management Ltd and both are authorised and regulated by the Financial Conduct Authority. Waverton Investment Management is also regulated by the SEC.
Feb 23,
2024

Portfolio Company Definiti Appoints Kristin Andreski as Chief Executive Officer
02.23.24

Portfolio Company Definiti Appoints Kristin Andreski as Chief Executive Officer

Definiti appoints industry veteran Kristin Andreski as Chief Executive Officer, who brings 25+ years of management, operational and leadership experience in the retirement and benefits space. Please click here to read the details!
Feb 22,
2024

LMP named a recipient of BluWave’s 2024 Private Equity Innovator Awards for the second year in a row!
02.22.24

LMP named a recipient of BluWave’s 2024 Private Equity Innovator Awards for the second year in a row!

We are pleased to share that LMP has been named a recipient of BluWave’s 2024 Private Equity Innovator Awards for the second year in a row!

This award recognizes the top 2% of private equity firms that differentially embrace proactive due diligence, transformative value creation, modern private equity firm operations and corporate citizenship practices.

BluWave has not received any compensation from any of the PE firms in connection with this awards program.  For more information about the BluWave 2024 Top Private Equity Innovator Awards, including the selection process, selection criteria and recipients, please click here. 

BluWave 2024 PE Innovator Awards

The BluWave Top Private Equity Innovator Awards recognize the top 2% of private equity firms that differentially embrace proactive due diligence, transformative value creation, modern private equity firm operations and corporate citizenship practices. The 2023 and 2024 awards were released on 2/15/2023 and 2/21/24, respectively. Recipients were selected through a rigorous assessment in consultation with leading limited partners, investment bankers, and other thought leaders in the private equity ecosystem. BluWave has not received investment capital from, nor received any compensation from any of the PE firms in connection with this awards program. However, BluWave may otherwise provide services to the PE firms and/or portfolio companies, but BluWave confirms that its assessment of the PE firms was independent of any such service arrangements. Top 2% in the PE industry is based on BluWave’s review of the more than 5,000 PE firms in the U.S. and Canada from which 82 PE firms were selected as award recipients. For more information about the selection criteria and process, please visit: www.bluwave.net/awards.
Feb 16,
2024

Portfolio Company Inside Real Estate Announces the Acquisition of Folio by Amitree, a Patented AI Email Productivity Solution
02.16.24

Portfolio Company Inside Real Estate Announces the Acquisition of Folio by Amitree, a Patented AI Email Productivity Solution

Inside Real Estate’s addition of Folio by Amitree expands their end-to-end suite for brokers, teams and agents by leveraging patented AI to streamline transaction workflows and create a better consumer experience.

MURRAY, Utah, Feb 16, 2024 -- Inside Real Estate, one of the fastest-growing independent real estate software companies and a trusted technology partner to over 400,000 real estate professionals, announced today the acquisition of Folio by Amitree, an AI-powered email productivity solution that securely detects a real estate professional’s transactions and organizes them in real time, making order out of the chaos of email. Today Folio helps compress the email workflow for over 100,000 real estate agents, enabling them to streamline their processes and close more deals. To date, the company has organized over 2.5 billion emails and saved professionals over 3 million hours.

“Folio by Amitree has helped solve the massive email productivity and data security problem in our industry,” said Joe Skousen, Founder and CEO of Inside Real Estate. “They follow the same innovation mindset we do at Inside Real Estate: deliver an enhanced consumer experience on behalf of the agent and build technology that works the way agents work, not the other way around. Folio couldn’t be more naturally aligned to our vision for a single end-to-end platform experience and our results-driven technology mission. We are thrilled to welcome them into the Inside Real Estate family.”

Folio by Amitree is a patented smart transaction assistant that meets agents where they work (their inbox) overcoming the agent adoption challenges of traditional transaction management systems.  Over 95% of all transactions are conducted over email and Folio helps turn this unstructured firehose of emails into a powerful and secure business organizer, resulting in greater productivity, faster offers, and an improved client experience.

Folio by Amitree helps agents and teams:
  • Automatically organize unstructured transaction emails into patented Smart Folders
  • Generate a branded timeline of closing activities that will impress buyers or sellers
  • Customize their own service providers to enable clients throughout their closing journey
  • Collaborate on deals with colleagues to improve team productivity
  • Detect fraud and compile correspondence to add security & compliance over email
  • Save time by summarizing real estate documents with DocGPT
“This is an exciting new chapter for us, and our joint customers,” said Jonathan Aizen, Founder of Folio by Amitree.  “Inside Real Estate continues to lead the industry with powerful, results-minded solutions. We couldn’t have asked for a better technology fit and partner. The additional resources from Inside Real Estate will provide unparalleled innovation and help us continue with the highest levels of support, security and reliability our customers expect.” 

The Folio team will continue to serve Folio clients as part of the Inside Real Estate family, paired with additional resources driving even faster innovation and greater service options.

About Inside Real Estate:

Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to over 400,000 top brokerages, agents, and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable, and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions. Recent strategic acquisitions have expanded the company’s technology portfolio further, including BoomTown, Brokermint, and AmpStats solutions, which solidifies Inside Real Estate as the leading technology partner in the real estate industry. With an accomplished leadership team and its talented staff, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and success to their growing customer base. To learn more visit insiderealestate.com.

About Amitree: 

Amitree leverages state-of-the-art machine learning to enable professionals to do what they do best by automating the tedious parts of their jobs so they can focus on delivering value. The company’s core technology analyzes and extracts critical data from email, deriving unique insights and enabling professionals to drive the best outcomes. Its flagship product, Folio, utilizes this technology to compress the email workflow of over 100,000 real estate agents, enabling them to streamline their processes and close more deals. To date, the company has analyzed over 2.5 billion emails and saved professionals over 3 million hours.
Feb 15,
2024

Portfolio Company Engage People Inc. Celebrates Exciting Milestones in 2023!
02.15.24

Portfolio Company Engage People Inc. Celebrates Exciting Milestones in 2023!

Engage People Reports Substantial Growth in Pay with Points Transactions, New Members in 2023

The company saw a nearly 70% increase in transactions across its core payments solution Access Plus. Click here to read about the year in review. 

Engage logo
Feb 14,
2024

Portfolio Company Billhighway Announces Acquisition of ChapterSpot
02.14.24

Portfolio Company Billhighway Announces Acquisition of ChapterSpot

Exciting news from portfolio company Billhighway as they announce the acquisition of ChapterSpot. The ChapterSpot and Billhighway software suites are outstanding platforms built to further clients' missions, engage members, streamline workflow and costs, and drive growth. Please click here to learn more!

billhighway logo
Feb 06,
2024

Portfolio Company S&S Health Announces Two New Additions to its Board of Directors
02.06.24

Portfolio Company S&S Health Announces Two New Additions to its Board of Directors

Additions of seasoned executives Don Weinstein & Richard Fleder, with insurance and technology backgrounds, further strengthen Board of Directors with deep sector expertise

CINCINNATI--(BUSINESS WIRE)--S&S Health (“S&S” or the “Company”), a leading provider of administration and technology solutions for health plans for small and mid-sized businesses, today announced the appointments of Don Weinstein and Richard Fleder to its Board of Directors. These two Board appointments follow the recently announced growth investment in S&S by Lovell Minnick Partners (“LMP”), a private equity firm focused on investments in financial services, business services, and financial technology companies.

“We are pleased to welcome Don and Richard to the Company’s Board,” said Vincent Esposito, CEO of S&S. “Don and Richard provide key product and technology insights and bring significant experience building value across companies in the healthcare benefits and insurance services sectors. We look forward to the important contributions they will make as we continue our dedication to delivering an exceptional healthcare benefits experience to businesses across the country.”

“I am excited to join the Board of S&S, a company with a best-in-class technology offering,” stated Mr. Weinstein. “I look forward to leveraging my product and technology expertise to advance the value S&S delivers to its clients and stakeholders in the market.”

Mr. Fleder commented, “Joining the S&S Board presents an exciting opportunity to contribute to a company at the forefront of healthcare benefits innovation. I am eager to leverage my experience in the insurance industry to support S&S in its mission to improve healthcare outcomes nationwide.”

Mr. Weinstein formerly served as ADP’s Chief Product and Technology Officer, reinvigorating the product portfolio, driving full go-to-market and commercialization of new products, and leading the company-wide Digital Transformation yielding significant revenue growth and costs savings. Before that, he served as ADP’s Chief Strategy Officer, guiding the company’s strategic planning, portfolio, and investment prioritization process with full P&L responsibility for ADP’s portfolio of new business ventures. Mr. Weinstein is currently an Advisory Council Member to LMP, assisting in all aspects of investment activity. Mr. Weinstein holds an M.B.A from the Leonard N. Stern School of Business at New York University, an M.S. in Mechanical Engineering from Drexel University and a B.S. in Mechanical Engineering from Rutgers University.

Mr. Fleder founded ELMC Risk Solutions in 2013 and ELMCRx Solutions in 2019. He currently serves as the President and CEO of ELMCRx Solutions. He previously founded two other insurance related entities, Comprehensive Benefits (CBSC) in 1978 as well as T&H Group in 1995. Mr. Fleder currently serves on the Boards of Unimerica Insurance Company of New York and the Difference Card. He was previously on the National Advisory Councils of Aetna, CIGNA, HealthNet, and UnitedHealthcare, and previously served on the Board of Oxford Health Plans, New York. He is a former member of the Legislative Council of NAHU and the founder of the Empire State Healthcare Coalition. Mr. Fleder holds a B.S. from Franklin & Marshall College.

About S&S Health

S&S Health delivers comprehensive administrative solutions that maximize the efficiency and effectiveness of self-funded healthcare programs. The company simplifies the complexities of self-funded health plans for employers, ensuring they can provide cost-effective, tailored benefits to their employees while maintaining compliance and transparency. From plan design and enrollment management to claims processing and member support, S&S’ services are designed to streamline the administration of self-funded health plans, help clients achieve cost savings, enhance employee well-being, and ensure a seamless healthcare experience for all participants.

To learn more about S&S Health, click here. 
Jan 30,
2024

LMP Promotes Spencer Hurst to Principal and Mark Adelman to Vice President of Operations
01.30.24

LMP Promotes Spencer Hurst to Principal and Mark Adelman to Vice President of Operations

PHILADELPHIA & NEW YORK & LOS ANGELES--Lovell Minnick Partners (“LMP”), a private equity firm investing in growth-oriented companies, announces the promotions of Spencer Hurst to Principal and Mark Adelman to Vice President of Operations.

“We are thrilled to announce the promotions of Spencer Hurst and Mark Adelman, whose contributions to the Firm have been instrumental to LMP’s continued growth and success,” said Bob Belke, Managing Partner at LMP. “Their hard work and dedication play a critical role in navigating an ever-changing investing landscape, and we are honored to recognize them for their efforts,” added Steve Pierson, Managing Partner at LMP.

Mr. Hurst, most recently a Vice President with the Firm, joined LMP in 2016. He has successfully contributed to a variety of investments including Fortis, National Auto Care, Foreside, Billhighway, LSQ, ACU-Serve and Definiti. Prior to LMP, Mr. Hurst was an investment banking Associate at Keefe, Bruyette & Woods. He received a Bachelor of Arts in Economics, Cum Laude, from Middlebury College.

Mr. Adelman joined LMP in 2018. He leads data & analytics, strategic technology, and portfolio monitoring for the Firm, while also being highly involved in business development, corporate development, investor & public relations, HR & training, cybersecurity/IT, and other initiatives. He is also a member of the Firm’s ESG and Business Development committees. Prior to LMP, Mr. Adelman was an Investment Analyst with Hamilton Lane's Fund Investment group, and previously worked at Archer as an Operations Specialist. Mr. Adelman received a Bachelor of Arts in Economics from Franklin & Marshall College.
Jan 23,
2024

Portfolio Company Engage People Announces New Integration
01.23.24

Portfolio Company Engage People Announces New Integration

Exciting news below from portfolio company Engage People Inc.! Credit and debit cardholders whose financial institutions offer rewards via the popular program from Fiserv can apply points to save money on fuel at thousands of locations. As Jonathan Silver, CEO of Engage states, “Consumers value convenience, and enabling rewards program members to pay with points directly at the point of sale enhances their overall experience.” Please click here for more details.
Jan 23,
2024

Keeping Up with Lovell Minnick Partners: 2023 Year in Review
01.23.24

Keeping Up with Lovell Minnick Partners: 2023 Year in Review

"Keeping Up with Lovell Minnick Partners: 2023 Year in Review" is hot off the press! Read our full newsletter here.

KUWLMP 2023 Yr in Review
Dec 20,
2023

LMP's 2023 Holiday Message
12.20.23

LMP's 2023 Holiday Message

Happiest of holidays from LMP!
This year we are honored to support Jump$tart Coalition for Personal Financial Literacy, the Toigo Foundation, and Sesame Workshop for their outstanding work in our communities.

LMP 2023 Holiday Greeting
Nov 17,
2023

MergerMarket Interviews Partner Brad Armstrong & S&S CEO Vincent Esposito
11.17.23

MergerMarket Interviews Partner Brad Armstrong & S&S CEO Vincent Esposito

Following our recent investment in S&S Health, Partner Brad Armstrong and S&S Health CEO Vincent Esposito spoke with Rebecca Wenzel of Mergermarket to discuss S&S’ successes, expansion and growth plans, and corporate strategies going forward. Read the full piece by clicking here.
Nov 07,
2023

Pathstone's CEO, Matt Fleissig, Interviewed in Barron's
11.07.23

Pathstone's CEO, Matt Fleissig, Interviewed in Barron's

Matt Fleissig: Turning the Advisor Business Model ‘on Its Head’ at Pathstone

Thrilled to see this interview in Barron's with Matt Fleissig, CEO and Co-Founder of portfolio company Pathstone! Click here to read on.
(Publication may require a subscription.)

Matt Fleissig
Nov 01,
2023

3rd Year: LMP named an honoree of Inc. Magazine’s 2023 Founder-Friendly Investor award
11.01.23

3rd Year: LMP named an honoree of Inc. Magazine’s 2023 Founder-Friendly Investor award

We are thrilled to share that for the third year in a row, LMP has been named to Inc. Magazine’s 2023 Founder-Friendly Investor list! This annual award recognizes PE and VC firms that believe in backing founder-led businesses and helping them thrive.

Working with founders and business owners to help them scale their business is at the core of what we do at LMP, and we are honored to be recognized as a partner that entrepreneurs can trust and collaborate with.

To learn more about the award including how the list was compiled, and see the full list of honorees, visit this link.  

Inc. Founder Friendly Investor Award
*Lovell Minnick paid an application fee to be considered for this list.
Oct 31,
2023

Lovell Minnick Partners Appoints Don Weinstein to Advisory Council
10.31.23

Lovell Minnick Partners Appoints Don Weinstein to Advisory Council

Philadelphia, Los Angeles and New York – October 31, 2023 — Lovell Minnick Partners (“LMP”), a private equity firm investing in growth-oriented companies, today announced the appointment of Don Weinstein to its Advisory Council. Don brings over 30 years of extensive enterprise product, strategy, and technology experience, and will assist LMP in all aspects of investment activity.

Throughout his distinguished career, Don Weinstein has demonstrated a remarkable ability to drive innovation, launch new products, and foster top-line revenue growth. He most recently served as ADP’s Chief Product and Technology Officer, reinvigorating the product portfolio, driving full go-to-market and commercialization of new products, and leading the company-wide Digital Transformation yielding significant revenue growth and costs savings. He previously served as ADP’s Chief Strategy Officer, guiding the company’s strategic planning, portfolio, and investment prioritization process with full P&L responsibility for ADP’s portfolio of new business ventures. Don’s partnership with ADP's CEO and Board of Directors led to a remarkable increase in ADP's Market Cap, exceeding 500%.

"We are thrilled to welcome Don Weinstein to our Advisory Council,” says Steve Pierson, Managing Partner at LMP. “His unparalleled experience in driving growth, executing strategic initiatives, and enhancing stakeholder value will be instrumental as we continue to pursue investment opportunities in the business services sector. Don's strengths in strategic problem-solving, scaling new products and businesses, and his ability to synthesize and communicate complex topics make him a valuable asset to our team."

 “Over the years, I’ve had the opportunity to work with several world-class private equity firms and am very impressed by the hands-on approach LMP takes with its partners. I look forward to leveraging my expertise and working closely with LMP and the business services companies in its portfolio to help them scale,” added Don Weinstein.

Don’s appointment further reinforces LMP's commitment to leveraging the expertise of industry leaders to navigate the evolving landscape of financial services, financial technology and business services and deliver value to their investors and portfolio companies.

LMP’s Advisory Council members are independent contractors that serve as advisors to the firm as well as its portfolio companies.

Don Weinstein
Oct 19,
2023

Lovell Minnick Partners Announces Growth Investment in ACU-Serve
10.19.23

Lovell Minnick Partners Announces Growth Investment in ACU-Serve

Investment enables ACU-Serve to expand its service offerings, accelerate technology development and pursue strategic acquisition opportunities

PHILADELPHIA, LOS ANGELES & NEW YORK – October 19, 2023 – Lovell Minnick Partners LLC (“LMP”), a private equity firm focused on investments in financial services, business services, and financial technology companies, is pleased to announce today it has made a majority growth investment in ACU-Serve Corp. (“ACU-Serve” or the “Company”), a leading provider of end-to-end revenue cycle management. The Company will remain independent and will continue to be led by its current management team, including Founder and Chief Executive Officer, Jim Knight. This strategic partnership will enable ACU-Serve to expand its suite of comprehensive solutions, accelerate technology innovation, and continue its successful acquisition strategy. LMP will invest from its affiliated funds, Lovell Minnick Equity Partners V LP and Lovell Minnick Equity Partners V-A LP. Terms of the transaction were not disclosed.

Founded in 1993, ACU-Serve is a leader in revenue cycle management for healthcare providers focused on post-acute, home-based care, including the home medical equipment (“HME”), durable medical equipment (“DME”), and home infusion industries. The Company’s comprehensive service portfolio encompasses intake, revenue recovery, accounts receivable management, consulting, compliance, cash posting, and analytics, all of which have been meticulously crafted to mitigate claim denials, expedite claims processing, and optimize revenue collection. ACU-Serve’s technology-enabled platform includes ACU-Insight, a proprietary business intelligence platform consisting of Claims, Clarity and Smartsheet, a workflow and productivity solution; together, these tools combine industry expertise with advanced analytics to provide clients with real-time, actionable insights into their entire revenue cycle operation to ensure best-in-class service quality.

“We share a common goal of not only growing our business but also strengthening our relationships with our clients,” said Jim Knight, CEO of ACU-Serve. “With LMP’s track record of success in the industry, we are confident that together, we will provide our clients with even greater value, reinforcing our commitment to customer service and technology innovation. We are thrilled to find a partner who supports our vision for growth and one who brings additional resources to help us accomplish our objective of helping more clients, who in turn, provide critical care to patients in need.”

“We have a long track record of successful partnerships with high growth, technology-enabled companies run by proven, dynamic management teams with client-first attitudes,” said Brad Armstrong, Partner at LMP. “We look forward to partnering with Jim and the management team to expand service offerings, enhance technology capabilities, and pursue strategic acquisitions to complement its organic growth trajectory.”

In conjunction with the investment from LMP, ACU-Serve appointed former President of Experian Health, Scott Bagwell, and former CEO of Savista, Brenda Cline, to its Board of Managers. Scott Bagwell brings over 30 years of experience across multiple healthcare verticals including clinical, pharmacy, payments, and RCM. His current and former board positions include CORL Technology, Genesis AHC, EnableComp, and Verisys Corporation. Brenda Cline brings over 30 years of experience leading healthcare financial operations, large scale revenue cycle operations, strategic planning, and process optimization. She has held senior executive leadership roles at HCA, Parallon, nThrive, and Savista.

Benesch Friedlander Coplan & Aronoff LLP served as legal advisor to ACU-Serve and Morgan, Lewis & Bockius LLP served as legal advisor to LMP. Citizens M&A Advisory served as financial advisor to ACU-Serve and Baird served as financial advisor to LMP.

About ACU-Serve

ACU-Serve empowers post-acute, home-based healthcare providers to gain complete visibility and full transparency into their financial health through the Company’s proprietary technology platform, team of dedicated professionals, and wealth of experience spanning decades. ACU-Serve takes a strategic partnership approach to help clients increase cash flow and maintain compliance with ever-changing regulations, enabling them to focus on delivering high-quality customer service. Through an end-to-end services and technology offering, ACU-Serve addresses healthcare provider needs throughout all aspects of the revenue cycle, complete with a services and analytics hub to provide real-time financial and operational insights.

Click here to learn more about ACU-Serve.
Oct 05,
2023

Lovell Minnick Partners Announces Growth Investment in S&S Health
10.05.23

Lovell Minnick Partners Announces Growth Investment in S&S Health

Investment enables S&S to scale client services, accelerate technology innovation and pursue strategic acquisition opportunities

PHILADELPHIA, LOS ANGELES & NEW YORK, October 5, 2023 – Lovell Minnick Partners ("LMP"), a private equity firm focused on investments in financial services, business services, and financial technology companies, is pleased to announce a majority investment in S&S Health (“S&S”), a leading provider of administration and technology solutions for health plans for small and mid-sized businesses. This strategic partnership will enable S&S to advance organic growth initiatives, enhance operational efficiency, and accelerate its mission to improve healthcare outcomes nationwide. This transaction represents an investment out of Lovell Minnick Equity Partners VI LP and Lovell Minnick Equity Partners VI-A LP. Terms of the deal were not disclosed.

Founded in 1994, S&S partners with brokers, program managers, carriers, and other third-party administrators to offer comprehensive healthcare services and coverage. S&S’ proprietary claims adjudication platform enables the Company to support any plan design, level of complexity and account structure to offer cost-effective, tailored solutions for employers. In addition to benefit plan administration, the Company provides employers with provider network access and a marketplace of solutions for wellness and cost containment strategies.

“The partnership with LMP represents an exciting chapter in our Company’s history. We are confident that LMP’s extensive experience and resources will empower us to provide even more cutting-edge healthcare solutions to market and make a positive impact on benefit administration and cost containment strategies,” said Vincent Esposito, CEO of S&S. “Our dedication to delivering exceptional healthcare services remains unchanged, and with LMP as our new partner, we are poised to elevate our client experience to new heights and remain a reliable partner our clients can count on.”

“We have a strong history of forming successful partnerships with technology-driven companies led by dynamic management teams known for their client-centric approach and a track record of organic growth,” said Brad Armstrong, Partner at LMP. “We believe that with our resources and strategic guidance, S&S will continue to be a leader in the benefits marketplace and provide their clients with the highest quality of service.”

“S&S’ commitment to innovation, exceptional track record, and talented team makes them a natural fit for our portfolio,” said Jason Klein, Principal at LMP. "Their proprietary technology platform, strong relationship with clients and partners, and commitment to driving successful outcomes should position them very well for continued growth.”

The transaction is expected to close in the fourth quarter of 2023, subject to customary regulatory reviews and approvals. Waller Helms Advisors served as financial advisor to S&S and Harris Williams served as financial advisor to LMP. Baker Donelson served as legal advisor to S&S and Schulte, Roth & Zabel served as legal advisor to LMP.

+++

About S&S

S&S Health delivers comprehensive administrative solutions that maximize the efficiency and effectiveness of self-funded healthcare programs. The company simplifies the complexities of self-funded health plans for employers, ensuring they can provide cost-effective, tailored benefits to their employees while maintaining compliance and transparency. From plan design and enrollment management to claims processing and member support, S&S’ services are designed to streamline the administration of self-funded health plans, help clients achieve cost savings, enhance employee well-being, and ensure a seamless healthcare experience for all participants.

To learn more about S&S, click here.
Sep 19,
2023

Lovell Minnick Partners Announces Growth Investment in Net At Work
09.19.23

Lovell Minnick Partners Announces Growth Investment in Net At Work

Investment will further accelerate the award-winning technology advisor’s high-paced organic growth and acquisition strategy

September 19, 2023

NEW YORK & PHILADELPHIA -- Net at Work Inc. (the “Company”), one of North America’s largest providers of next-generation, digital operations platform technology solutions for small-to-medium sized businesses (“SMBs”), announced today that it has received a growth investment from Lovell Minnick Partners LLC (“LMP”), a private equity firm focused on investments in financial services, business services, and financial technology companies. This strategic partnership will propel Net at Work's expansion and further enhance its ability to deliver innovative technology solutions to businesses across the globe. Terms of the transaction were not disclosed.

Founded in 1996, Net at Work has consistently been at the forefront of technology, helping SMBs optimize operations, increase efficiency and drive growth through the transformative power of technology. With an unwavering commitment to delivering value, Net at Work has earned a strong reputation for its expertise in areas such as next-generation technology solutions, cloud and managed IT services and fractional CIO & advisory services.

"This investment from Lovell Minnick Partners is a significant milestone for Net at Work,” said Alex Solomon, Co-Founder and Co-CEO of Net at Work. “It will not only empower us to better help our customers and partners thrive in today’s digital economy but also to expand the career options for our employees and talent in the market. Together, we will continue to redefine excellence in technology partnership to lead the industry.”

This partnership marks a pivotal point in Net at Work’s journey and the company remains committed to its mission of empowering businesses with transformative, cloud-based technology solutions. The investment from LMP will provide Net at Work with significant capital to pursue acquisitions and make growth investments in the business.  

“LMP is known for its strong track record of making strategic investments in high growth companies and we look forward to working closely with them to continue to scale our business,” said Eddie Solomon, Co-Founder and Co-CEO of Net at Work. “The firm’s extensive experience in the technology and business services sectors aligns perfectly with our focus on the customer and driving business impact.”

"Net at Work's track record of success, deep industry expertise, and dedication to client satisfaction make them a natural fit for our portfolio,” said Trevor Rich, Partner at LMP. “We are excited to work alongside the talented team at Net at Work to support their growth objectives and contribute to their ongoing success."

Katten Muchin Rosenman LLP acted as legal counsel to Net at Work. Harris Williams served as financial advisor, Netrex served as capital markets advisor, and Goodwin Procter LLP acted as legal counsel to Lovell Minnick Partners.

About Net at Work

Founded in 1996, Net at Work is one of North America’s largest SMB technology advisors. Our award-winning consultancy offers a rich portfolio of next-generation technology, industry expertise, and services to help organizations derive value from the transformative benefits of technology. Through the integration of ERP, HCM, and/or CRM solutions, Net at Work builds unique, industry-specific digital operations platforms that enable companies to compete more effectively in today’s digital economy. For more information, visit www.netatwork.com.
Aug 16,
2023

Vice President Spencer Hurst Speaks with John Adams at American Banker About Real-Time Pay
08.16.23

Vice President Spencer Hurst Speaks with John Adams at American Banker About Real-Time Pay

LMP Vice President Spencer Hurst recently spoke with John Adams at American Banker about real-time pay and the growth of "payment orchestration", as well as emerging opportunity in the payments industry and investments LMP has made in the space in the past. "We really are spending more time on payments orchestration," said Spencer Hurst. "It's a newer buzzword. But it's really a strong connection layer to route payments quickly." Read the full piece by clicking here.

Spencer Hurst American Banker
Aug 10,
2023

LMP Teams Enjoy Summer Outings
08.10.23

LMP Teams Enjoy Summer Outings

Members of LMP’s Philadelphia and New York offices recently enjoyed an afternoon at Topgolf, played pickleball, and spent time bonding with our teammates. At LMP, we are dedicated to providing our clients and strategic partners with the highest quality attention and results, and maintaining a healthy work-life balance and strong team collaboration is an important part of achieving that!

LMP Outings 7-2023
Jul 28,
2023

LMP Principal Roumi Zlateva has been named to GrowthCap’s Top Women Leaders in Growth Investing for 2023
07.28.23

LMP Principal Roumi Zlateva has been named to GrowthCap’s Top Women Leaders in Growth Investing for 2023

We are thrilled to announce that Principal Roumi Zlateva has been named to GrowthCap’s Top Women Leaders in Growth Investing of 2023 list! The list recognizes women who through their investment acumen, operational capabilities, and work ethic have had a profound impact on their firms, portfolio companies, limited partners, and others. Read the full article and learn more about the ranking here. 

GrowthCap Top Women Leaders 2023
Disclosure:  The GrowthCap Top Women Leaders in Growth Investing of 2023 list was announced on July 26, 2023.  GrowthCap is a leading growth capital research and advisory firm, not affiliated with Lovell Minnick. This award recognizes women who have demonstrated deep expertise in private company investing, portfolio management, firm operations as well as business expansion strategy and execution. The award is the subjective determination of GrowthCap and not Lovell Minnick. To determine this year’s awardees, GrowthCap ran a thorough nomination process and reviewed feedback received from each nominee’s colleagues, portfolio company executives and/or others in the industry. Each candidate was evaluated based on her demonstrated success in her specific roles, breadth of experience, longevity in the field, and consistency in performance, among other factors. Lovell Minnick submitted a nomination to be considered for and, once selected, paid to be included on, and to promote inclusion on, this list. Read the full article and learn more about the award here.
Jul 25,
2023

LMP Appoints Ned Stringham to Advisory Council
07.25.23

LMP Appoints Ned Stringham to Advisory Council

New Advisor Brings More Than 20 Years of Experience and Investment Expertise in the Enterprise Software Industry

PHILADELPHIA, LOS ANGELES, and NEW YORK – July 25, 2023 – Lovell Minnick Partners (“LMP”), a private equity firm investing in growth-oriented companies, today announced the appointment of Ned Stringham to the firm’s Advisory Council. Mr. Stringham will assist LMP in all phases of its enterprise software investments and investment activity and introduce operational improvements to existing enterprise software-related portfolio companies.

“Ned is a trusted and valued relationship of the firm, having been our partner during his tenure as CEO and Chairman at Inside Real Estate,” says John Cochran, Partner at LMP. “His wide-ranging and extensive track record of success investing in and building category leaders in the enterprise software space, including Inside Real Estate, will be instrumental as LMP continues to focus on critical fintech trends, like the digitization of workflows and the application of generative AI in our end markets.”

Over the last 20 years, Mr. Stringham has actively invested his capital through his private investment firm, 42 Ventures, in numerous software businesses and in partnership with several private equity firms, which collectively have delivered well over $1 billion in equity returns to their investors. Mr. Stringham takes an active role in his investments, acting in most instances as the Executive Chairman or CEO and, in several cases, as a Founder. These businesses include Swipeclock, Insurance Technologies, FAST, Inside Real Estate, Touchpath, and Simpleview, among others.

“I’m honored to be joining LMP’s Advisory Council,” said Ned Stringham, Advisor to LMP. “Having worked closely with the team while at Inside Real Estate, I know of LMP’s deep experience investing in growth-oriented companies and partnering with founders and management teams to drive value for the company. I look forward to working alongside them as we continue to help companies reach their full growth potential.”

LMP’s Advisory Council members are independent contractors that serve as advisors to the firm as well as its portfolio companies.

Ned Stringham
Jul 17,
2023

Portfolio Company Pathstone Joins Forces with Veritable LP
07.17.23

Portfolio Company Pathstone Joins Forces with Veritable LP

Portfolio Company Pathstone is joining forces with Veritable, LP, one of the most prominent multi-family offices in the U.S.

The shared history of both firms providing best-in-class, innovative solutions means that together, they are be able to better serve the evolving needs of their clients. Through this acquisition, Pathstone’s and Veritable’s combined knowledge and skillsets will provide an enhanced level of service, creating a firm with scale that is unmatched in the industry.

We invite you to read the full press release here.
Jun 28,
2023

Keeping Up with Lovell Minnick Partners: 2023 Mid-Year Update
06.28.23

Keeping Up with Lovell Minnick Partners: 2023 Mid-Year Update

"Keeping Up with Lovell Minnick Partners: 2023 Mid-Year Update" is hot off the press! Read our full newsletter here.

Keeping Up with LMP 2023 Mid-Year Update
Jun 16,
2023

LMP Hosts Its 2023 Executive Summit
06.16.23

LMP Hosts Its 2023 Executive Summit

The LMP team and our portfolio company executives recently gathered for our annual #LMPExecutiveSummit. We had a great time exchanging ideas and discussing key areas of focus for our teams including value creation & driving growth, trends in human capital & culture, and generative AI.

We truly appreciate the contributions of all our portfolio executives and are already looking forward to getting together again soon! 
LMP 2023 Executive Summit
Jun 12,
2023

LMP Hosts Annual LMPhilanthropy Day
06.12.23

LMP Hosts Annual LMPhilanthropy Day

We recently hosted our annual LMPhilanthropy Day, which takes place each year on the second Friday of June across all three of LMP’s offices. Each location selects a cause that is important to them and dedicates their time to making an impact. This year, our teams selected CitySquash in New York, Caring for Friends in Philadelphia, and the LA office organized a learning session on financial literacy at Beacon House. We look forward to continuing to support great causes like these with our annual event.

LMPhilanthropy Day 2023
Jun 06,
2023

LMP at SuperReturn in Berlin
06.06.23

LMP at SuperReturn in Berlin

LMP’s Jason Barg, Irene Hong Edwards, and Steve Pierson are excited to be at SuperReturn in Berlin, joining some of the most influential GPs and LPs from across the globe. We’re looking forward to co-hosting an at-capacity dinner this week to further our relationships with industry colleagues!

SuperReturn 2023
May 26,
2023

LMP Helps Sponsor Inaugural Event for PEWIN - Private Equity Women Investor Network's newest chapter in Seoul!
05.26.23

LMP Helps Sponsor Inaugural Event for PEWIN - Private Equity Women Investor Network's newest chapter in Seoul!

LMP was thrilled to help sponsor the inaugural event for PEWIN - Private Equity Women Investor Network's newest chapter in Seoul! Our own Irene Hong Edwards participated in the launch dinner.

LMP PEWIN Seoul Event
Apr 18,
2023

Portfolio Company STP Investment Services Appoints Industry Veteran David Whitaker to Strengthen Leadership Team
04.18.23

Portfolio Company STP Investment Services Appoints Industry Veteran David Whitaker to Strengthen Leadership Team

Portfolio company STP Investment Services is proud to announce that industry veteran David Whitaker, who served as President of Foreside Financial Group for 16 years, has joined STP as Head of Strategy & Corporate Development.

Click here to read more about how Dave’s expertise and new position on the leadership team will help to usher in STP’s next chapter of growth!
Apr 05,
2023

Portfolio Company Definiti Appoints Former U.S. Senator Pat Toomey and AssetMark CEO Ron Cordes to Board of Managers
04.05.23

Portfolio Company Definiti Appoints Former U.S. Senator Pat Toomey and AssetMark CEO Ron Cordes to Board of Managers

Executives Bring Decades of Retirement Policy and Financial Services Experience to the Firm

HOUSTON, TX. – March 5, 2023 – Definiti LLC, a national retirement services firm that supports more than 10,000 workplace organizations and 12,500 retirement plans across the U.S., today announced the appointments of former U.S. Senator Patrick Toomey and former AssetMark CEO Ronald Cordes to its Board of Managers. Mr. Toomey and Mr. Cordes will serve alongside Definiti’s other Managers, bringing nearly 75 years of regulatory affairs, retirement policy, and wealth management acumen to the Board. These two Board appointments follow the recently announced investment in Definiti by Lovell Minnick Partners (“LMP”), which closed on March 16.

“Building the right team of leaders and advisors has directly impacted Definiti’s ability to offer best-in-class services to our valued customer base,” said Tom Gaillard, CEO of Definiti. “We’re thrilled to welcome Pat and Ron to the Board and look forward to working with them to expand our distribution partners and product suite, and continue our legacy of providing effective and unique retirement solutions to our clients.” 

“Ron’s deep knowledge of the financial advisor ecosystem coupled with Pat’s extensive background in government service and financial services make them ideal additions to the Definiti Board,” said Jason Barg, Partner at LMP. “Both of these individuals will provide tremendous value as Definiti continues to expand its client base and works to achieve ambitious organic growth initiatives and continued acquisitions of quality firms for years to come.”

Mr. Toomey represented Pennsylvania in the U.S. Senate from 2011 to 2023, serving on the Senate Banking, Housing, and Urban Affairs; Budget; and Finance Committees, as well as the Joint Economic Committee and the Joint Select Committee on Deficit Reduction. Mr. Toomey was the Ranking Member of the Senate Banking Committee from 2021 to 2023 and previously chaired the Subcommittee on Financial Institutions and Consumer Protection. Mr. Toomey previously served in the U.S. House of Representatives from 1999 to 2005, where he was a member of the House Financial Services and Budget Committees. He began his career in financial services at Chemical Bank and then Morgan, Grenfell & Co. Mr. Toomey holds a B.A. in government from Harvard University.

Mr. Cordes co-founded and served as CEO and Executive Co-Chairman of AssetMark Inc., a leading U.S. managed account platform with more than $70 billion of AUM and a former portfolio company of LMP. He co-authored “The Art of Investing” published by McGraw Hill, and was an Ernst & Young Entrepreneur of the Year. Mr. Cordes currently is an Advisory Council Member to LMP, assisting in deal sourcing, evaluation and due diligence, and is co-founder of the Cordes Foundation with his wife. He currently serves on the boards of MicroVest Capital Management, ImpactAssets, Align Impact, Pathstone and the Social Impact Lab at Lynn University. Mr. Cordes holds a B.S. in business administration from the University of California, Berkeley.

About Definiti

From 401(k) plan design and administration, compliance and actuarial consulting, to pension outsourcing and recordkeeping, Definiti helps organizations deliver smart retirement solutions to their employees. With hundreds of experts across the country, including in-house actuarial consultants, ERISA attorneys, document specialists and retirement plan consultants, Definiti helps clients redefine what’s possible with workplace retirement plans.

To learn more about Definiti, visit https://definiti.com.
Mar 08,
2023

LMP Honors International Women's Day 2023
03.08.23

LMP Honors International Women's Day 2023

On International Women's Day and every day, we honor all of the talented women on our team.

This year, we also want to highlight the leadership of our first female Partner, Irene Hong Edwards. Irene's dedication and expertise have been instrumental to LMP’s growth and we could not have been happier to see her promoted to Partner in January. Learn more about our all of our female leaders and their invaluable contributions to LMP.

LMP honors the women on our team
Mar 07,
2023

Managing Partner Robert Belke Speaks with Rich Blake of Mergers and Acquisitions
03.07.23

Managing Partner Robert Belke Speaks with Rich Blake of Mergers and Acquisitions

Managing Partner Bob Belke recently spoke with Rich Blake of Mergers and Acquisitions about what’s to come in the year ahead for mid-market PE firms, including weathering the storm of slowdowns and markdowns and getting deals across the finish line. “In the middle market, there is still credit available, there are carve-out opportunities for PE buyers, and if you have done the right things over the years leading up to this point – not taking on too much debt, being disciplined about multiples paid, pacing deployment of capital sensibly – then it’ll be a lot easier navigating whatever tough seas lay ahead.” Read the full piece by clicking here. 
Mar 06,
2023

Lovell Minnick Partners Announces the Successful Recapitalization of Pathstone and Welcomes Partnership with Kelso & Co
03.06.23

Lovell Minnick Partners Announces the Successful Recapitalization of Pathstone and Welcomes Partnership with Kelso & Co

Additional capital solidifies Pathstone’s position as an industry leader and further empowers the firm’s culture of growth and innovation

Philadelphia, PA - March 6, 2023 – Lovell Minnick Partners (“LMP”), a private equity firm investing in growth-oriented companies, today announced the successful recapitalization of Pathstone, an independently operated, partner-owned advisory firm offering comprehensive family office services and customized investment advice. The transaction includes a new strategic equity investment from Kelso & Company (“Kelso”), a leading private equity firm focused on partnering with middle market companies.

LMP, which has been a crucial and impactful partner in Pathstone’s exciting growth since 2019, will continue its investment in the business and deploy additional capital as part of the transaction. LMP’s new investment signals its continued excitement for Pathstone’s business model and position as an industry leader.

In recent years, Pathstone has enjoyed a remarkable period of expansion, growing to more than 350 employees – over 180 of whom are shareholders – serving families and individuals, family offices, and foundations and endowments representing more than $80 billion in assets across 17 offices.

“We are thrilled to continue our investment and relationship with the Pathstone team,” said Brad Armstrong, Partner at LMP and a Pathstone Board of Directors member. “We believe there is an industry tailwind favoring those who have made the necessary investments in their team, technology, and resources, and we’re eager to support Pathstone as it looks to accelerate its growth trajectory and M&A strategy.”

“As Pathstone’s differentiated position as “The Family Office” continues to resonate across our industry and propels our exciting trajectory, we have found in Kelso another investment partner who aligns with our values as a consistent champion of founder-led firms with employee ownership,” said Matt Fleissig, CEO of Pathstone. “Alongside LMP, their partnership will provide capital to further support our culture of growth and innovation, as well as resources and expertise to enable us to accelerate our strategic initiatives and deliver upon the multi-generational promise we make to our clients and employees alike.”

“Our success over the years has placed us in a position to be the destination of choice for employees, families, and firms who have done great things but realize they want and need more support and better advice,” added Kelly Maregni, President of Pathstone. “With this new capital and partnership, we will continue to build a best-in-class firm delivering industry-leading service while remaining true to our values of Innovation, Caring, Proactivity, Humility, and Passion.”

Kelso’s partnership approach is centered around providing capital necessary for investment in people, process, technology, and other value-added outcomes that drive business success, all while existing management controls and manages the day-to-day business. “Pathstone is an outstanding company with a differentiated value proposition and excellent management team,” said Steve Dutton, Partner at Kelso. “With a shared vision for the future, we look forward to partnering with LMP and supporting Pathstone’s leadership during this next important phase of expansion.”

Kelso’s and LMP’s respective investments are expected to close during the second quarter of 2023 and are subject to customary closing conditions. Ardea Partners LP served as the exclusive financial advisor, and Alston & Bird LLP served as the legal advisor to Pathstone. Kirkland & Ellis LLP and Republic Capital Group advised LMP. William Blair & Co. provided financial advice, and Debevoise & Plimpton LLP served as the legal advisor to Kelso.
 

About Pathstone

Pathstone is an independently operated, partner-owned advisory firm offering comprehensive family office services and customized investment advice for families, family offices, and foundations and endowments. With decades of experience as trusted advisors, we employ an advocacy-focused model that empowers our clients to define and achieve their unique long-term goals and support their legacy. For more information, please visit www.pathstone.com.

About Kelso & Company

Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $19 billion of equity capital in over 135 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (ESOP), and as a result, the principles of partnership and alignment of interest serve as the foundation of the firm's investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured investing team, and a reputation as a preferred partner to management teams and corporates. Kelso has significant experience investing in financial services, having deployed approximately $4 billion of equity capital in the sector. For more information, please visit www.kelso.com.
Feb 02,
2023

LMP Supports Definiti’s Next Chapter of Growth with New Majority Investment
02.02.23

LMP Supports Definiti’s Next Chapter of Growth with New Majority Investment

Investment enables Definiti to scale client services, strengthen organic growth initiatives and pursue strategic acquisitions

PHILADELPHIA – February 2, 2023 – Lovell Minnick Partners (“LMP”), a private equity firm with a 20+ year track record of partnering with growth-oriented companies, today announced the signing of a definitive agreement to acquire a majority stake in Definiti LLC to support its next chapter of growth. Definiti is a national retirement services firm that supports more than 8,000 workplace organizations and 10,000 retirement plans across the US. This investment will enable Definiti to accelerate investments in client service, technology, innovation, and talent. LMP supports Definiti’s plans to advance its client offerings and organic growth initiatives while continuing its highly successful acquisition strategy. Terms of the deal were not disclosed.

Founded in 2015, Definiti is a third-party administrator (“TPA”) that provides workplace organizations with retirement plan administration, recordkeeping and compliance services, as well as actuarial consulting and pension outsourcing. Definiti works with financial advisors, recordkeepers and other partners to help workplace organizations deliver innovative retirement solutions to their employees. The hundreds of retirement plan consultants, in-house actuarial consultants, ERISA attorneys and document specialists at Definiti help organizations manage their retirement plans and ensure they comply with regulatory and legislative requirements.

“LMP’s experience, network, history with accelerating M&A strategies and emphasis on client and high-touch services make them an ideal partner to support Definiti’s growth,” said Tom Gaillard, CEO of Definiti. “With LMP as our new partner, our clients and partners should remain assured that we will continue to invest in innovative solutions and client service. We’re confident that LMP understands our business and ecosystem and we look forward to advancing our initiatives alongside them in the years to come.”

“Definiti has established itself as a market leader in the retirement services space, consistently demonstrating its ability to expand and enhance its platform’s offerings to meet clients' needs,” said Jason Barg, Partner at LMP. “We believe our extensive experience in partnering with high growth, service-driven companies, along with attractive regulatory tailwinds, positions Definiti well as we look to capitalize on a highly fragmented retirement services market.”

“Our investment in Definiti is a testament to its strong reputation and ability to differentiate itself as a market leader,” said Steve Pierson, Managing Partner at LMP. "We look forward to partnering with Tom and the management team to extend Definiti’s reach, enhance its service capabilities, and aggressively pursue strategic acquisitions to complement its organic growth trajectory.”

The transaction is expected to close in the first quarter of 2023, subject to customary regulatory reviews and approvals. Waller Helms Advisors served as financial advisor to LMP, and Raymond James served as financial advisor to Definiti. Goodwin Procter served as legal advisor to LMP, and Nutter, McClennen & Fish LLP served as legal advisor to Definiti.

About Definiti

From 401(k) plan design and administration, compliance and actuarial consulting, to pension outsourcing and recordkeeping, Definiti helps organizations deliver smart retirement solutions to their employees. With hundreds of experts across the country, including in-house actuarial consultants, ERISA attorneys, document specialists and retirement plan consultants, Definiti helps clients redefine what’s possible with workplace retirement plans.

To learn more about Definiti, click here.
Jan 20,
2023

Portfolio Company Inside Real Estate Announces the Acquisition of BoomTown
01.20.23

Portfolio Company Inside Real Estate Announces the Acquisition of BoomTown

Top real estate tech companies join forces to create an industry leading real estate technology and services provider

(MURRAY, UTAH, JAN 20TH, 2023): Inside Real Estate, one of the fastest-growing independent real estate software companies and a trusted technology partner to over 400,000 real estate professionals, announced today the acquisition of BoomTown, an industry leading cloud-based sales and marketing automation platform serving more than 100,000 real estate professionals. 

This combination creates an industry leading provider of residential real estate software and services, across product and customer segments. In addition to exceptional product innovation, Inside Real Estate will now deliver even higher value through top-shelf client support and services, and one of the largest and most engaged communities of top producing real estate professionals. As a result of the acquisition, Inside Real Estate is well positioned to help top performing franchises, brokerages, teams, and agents manage their business more effectively by providing an unparalleled technology, services and partner ecosystem.

“I’m thrilled to welcome BoomTown to the Inside Real Estate family!” said Joe Skousen, CEO, Inside Real Estate. “I commend Grier and the BoomTown team for what they have built and accomplished with their clients over the past 15 years. Our companies share a common DNA that is focused on driving real results for every client, every day. Together, we will deliver an unmatched experience for every user from single agents, to top performing teams and mega teams, to robust national enterprise brands. Our #1 job is being a tech partner to our clients - this combination  reinforces that commitment.”

Inside Real Estate and BoomTown each have a proven track record of delivering high value solutions to help real estate professionals drive more effective business outcomes, achieve a competitive market advantage, and ultimately generate more transactions and revenue. The combined resources and backing will help deliver: 
  • The #1 Front Office Experience for Every User: The combined technology will deliver an enhanced and elevated front office experience that supports every type of user, from single agents, to top performing teams and mega teams, to top brokerages and enterprise brands in growing  their business.
  • The First Complete & Modern Back Office Suite: Together, the company’s combined portfolio of back office solutions, including CORE Back Office, Brokermint and Inside Real Estate’s recently acquired AmpStats, will provide the foundation for the industry’s most innovative, modern and complete back office solution. 
  • Marketplace & Tech Partner Ecosystem: Inside Real Estate’s Marketplace of leading add-on services and solutions, including the Propertyboost listing promotion and lead generation tool, will continue to expand, and be paired with a new Preferred Partner program, unlocking additional value and differentiation for customers through a vetted, network of premium, tightly integrated partner solutions.
  • Industry Leading Home Ownership Solutions: Inside Real Estate will continue to invest heavily in the first integrated lifetime homeownership platform, CORE Home. The technology, paired with smart affiliated services solutions, and branded for Inside Real Estate’s customers, will place brokers and agents at the heart of the consumer relationship.
“This combination brings together significant capability to innovate as a true technology partner and support the needs of our customers,” said Nick Macey, President, Inside Real Estate. “Our passionate, capable team is committed to leading the market with the features, products and solutions that drive agent, team, brokerage and enterprise brand success.” 

Inside Real Estate’s Joe Skousen will continue as Chief Executive Officer leading an experienced executive team of industry veterans from both Inside Real Estate and BoomTown, including Nick Macey as President and Grier Allen of BoomTown as Chief Strategy Officer. The combination of the two employee and client-centric cultures will create a company that continues to be consistently recognized for their culture and as one of the best places to work. The company is headquartered in Salt Lake City, UT, with offices in Charleston, SC and Carlsbad, CA, and employees located throughout the U.S.

“This is the first day of an exciting new chapter for BoomTown and our clients!” said Grier Allen, CEO, BoomTown. “Joining Joe and the talented Inside Real Estate team enables us to continue on our combined mission to serve the real estate industry with world class technology and services. With a clear vision for the future, we look forward to accelerating the pace of innovation to fuel our clients' growth and success.” 

Kirkland & Ellis LLP served as legal advisor to Inside Real Estate. Houlihan Lokey served as exclusive financial advisor and DLA Piper LLP (US) served as legal advisor to BoomTown. 

About Inside Real Estate:
Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to over 400,000 top brokerages, agents, and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable, and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions. With an accomplished leadership team and its talented staff, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and
success to their growing customer base. To learn more visit insiderealestate.com.

About BoomTown:
BoomTown exists to make real estate agents successful. Nearly 100,000 of the industry’s top professionals, and 40% of the Real Trends Top 250 teams, trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. BoomTown’s full suite of capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, a mobile app for agents on the go, transaction management, commissions, and accounting. BoomTown’s service offerings extend far beyond technology with lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth to coaching services from peers who have catapulted their growth with the system. Founded in 2006, BoomTown’s brands include some of the most trusted solutions in real estate like Brokermint, real estate’s leading back-office and transaction management software, and MyAgentFinder. For more about BoomTown visit boomtownroi.com.
Jan 19,
2023

PE Hub Interviews Partner Trevor Rich on National Auto Care's Growth
01.19.23

PE Hub Interviews Partner Trevor Rich on National Auto Care's Growth

Partner Trevor Rich recently spoke with Obey Martin Manayiti of PE Hub to discuss LMP’s recent NAC exit. “We came in with a very specific thesis around vertical integration,” Trevor said. “Once we started getting these deals done, other sellers took notice and said, ‘Wow, they are growing quickly.’” Read the full piece by clicking here.
Jan 11,
2023

LMP Expands Leadership Team with Promotions of Irene Hong Edwards and Timothy Rampe to Partner
01.11.23

LMP Expands Leadership Team with Promotions of Irene Hong Edwards and Timothy Rampe to Partner

Promotions also include two Vice Presidents, Chief Compliance Officer, and Head of Administration

PHILADELPHIA, NEW YORK & LOS ANGELES - Lovell Minnick Partners (“LMP”), a private equity firm with a 20+ year track record of partnering with growth-oriented companies, today announced the expansion of its leadership team with the promotions of Irene Hong Edwards and Timothy Rampe to Partner. Additional promotions include Lindsay Strait to Vice President, Cody Isdaner to Chief Compliance Officer & Counsel, Marji Hendler to Head of Administration, and Paul Mattson to Vice President of Finance.

“LMP values the importance of developing best-in-class talent and we are excited to recognize the contributions of Irene and Tim with these well-deserved promotions to Partner. Irene and Tim have proven to be invaluable members of the LMP team and have been instrumental to LMP’s growth and success,” said Steve Pierson, Managing Partner at LMP. “We are honored to welcome Irene as our first female Partner and look forward to seeing both her and Tim thrive in their new roles. We also want to congratulate Lindsay, Marji, Cody, and Paul on their well-deserved promotions and thank them for their many contributions to the firm.”

LMP Promotions 1-2023

Ms. Edwards joined LMP as Principal, Head of Investor Relations in 2017. She came to the firm from Z Capital where, as Managing Director, she was responsible for investor relations and business development for the firm’s private equity and credit strategies. Previously, Ms. Edwards served as VP of Investor Relations for KPS Capital Partners and was a member of the placement agent arm of Jefferies & Co. Earlier in her career, she worked at Lexington Partners on the secondaries team evaluating, executing, and monitoring investments. Ms. Edwards serves on LMP's Diversity & Inclusion Committee. She earned her M.B.A from Columbia University and holds a Bachelor of Business Administration degree from Georgetown University.

Mr. Rampe joined the Philadelphia office of LMP in 2018 as the firm's General Counsel and Chief Compliance Officer. He was previously with Davis Graham & Stubbs LLP, where he served as a Partner in its Corporate Finance and Acquisition Group for nearly a decade. Mr. Rampe contributes to LMP’s strong financial and business services experience, having represented companies in those industries while in private practice on a wide variety of corporate transactions, including acquisitions/divestitures, recapitalizations, and equity and debt financings, as well as compliance and corporate governance matters. Mr. Rampe earned his B.A. in Economics from the University of Michigan and received his J.D. from Harvard Law School.

“LMP has always placed a focus on creating a collaborative firm culture, characterized by a talented, dedicated, and enthusiastic team of professionals,” said Bob Belke, Managing Partner at LMP. “Irene and Tim are strong leaders and mentors for so many at the firm and we are excited to welcome them to the partnership. We are also thrilled to be promoting Lindsay, Marji, Cody, and Paul, whose many contributions to LMP have helped get us to where we are today.”

Ms. Strait joined LMP as an Associate in 2019 and is based on our New York office. She was named Senior Associate in 2021 and also serves on LMP's Diversity & Inclusion Committee. Prior to LMP, Ms. Strait was an Investment Banking Associate with Keefe, Bruyette & Woods in the Insurance and Asset Management division, where she worked on M&A, LBOs, and debt and equity financings. Ms. Strait received a B.S. from the University of Colorado at Boulder Leeds School of Business.

Mr. Isdaner joined the Philadelphia office of LMP in 2019 as Legal and Compliance Associate. Prior to LMP, he spent six years with Swayze LLC as Senior Compliance Consultant, responsible for creating and implementing compliance programs and assisting with legal matters for numerous investment advisor clients. Mr. Isdaner received a B.S. in Business Administration from Bryant University and his J.D., Cum Laude, from Temple University's Beasley School of Law.

Ms. Hendler joined the Philadelphia office of LMP in 2012 as Director of Office Administration and is responsible for the administrative functions of the firm and the management of its offices, leads the firm’s digital communications efforts, produces LMP’s events, and is actively involved in public relations work. She also serves on LMP's Diversity & Inclusion Committee. Prior to LMP, Ms. Hendler was Senior Project Manager with the strategic partnership division of a national retailer and served for eight years as the Director of Client Services and Marketing at D.A. Kreuter Associates. Earlier in her career, Ms. Hendler also held positions with MBNA America Bank, N.A. Ms. Hendler received her B.A. from Temple University in Philadelphia, PA.

Mr. Mattson joined the Philadelphia office of LMP in 2019 as Controller. He is responsible for the accounting and financial reporting functions of LMP’s investment funds and management company. Prior to LMP, Mr. Mattson spent four years with Preferred Sands as Senior Accounting Manager, responsible for financial reporting, technical accounting, and internal controls compliance. Mr. Mattson is a CPA and started his career as a Senior Audit Associate at KPMG LLP. He received a Bachelor of Science degree in Accounting from the University of Delaware.
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Jan 03,
2023

National Auto Care to Combine with APCO Holdings, LLC Following Successful Partnership with Lovell Minnick Partners
01.03.23

National Auto Care to Combine with APCO Holdings, LLC Following Successful Partnership with Lovell Minnick Partners

Relationship with Lovell Minnick Partners Resulted in 21 Acquisitions

PHILADELPHIA, PA. – January 3, 2023 – Lovell Minnick Partners (“LMP”), a private equity firm focused on investments in financial services, financial technology, and related business services, today announced the sale of National Auto Care (“NAC” or the “Company”) to APCO Holdings, LLC (“APCO”). This transaction marks the completion of a successful partnership between LMP and NAC that began just over four years ago. During that time period, NAC grew aggressively to become one of the leading national finance & insurance (“F&I”) platforms in the industry.

Founded in 1984 and based in Ponte Vedra Beach, Florida, NAC is a leading distributor and administrator of F&I products to auto, powersport and RV dealerships, credit unions and numerous other financial institutions. NAC is known for its innovative approach to creating best-in-class warranty products covering vehicle service, guaranteed asset protection (GAP), and ancillary coverage contracts. The Company is unique in its ability to work directly with its dealership and financial partners to create the ideal suite of products to meet the needs of the end customer.

Over the past four years, in partnership with LMP, NAC has rapidly expanded its business through a combination of organic growth initiatives and strategic acquisitions. Since 2020, NAC has completed 21 acquisitions, further diversifying the Company into new product lines, geographies, and service offerings. The acquisitions were part of the Company’s strategic plan to develop a vertically integrated business model, with administration and direct distribution capabilities that allow it to act as a “one-stop-shop” for its dealership and financial partners.

“The resources and support that LMP has provided over the last four years have been instrumental in helping us achieve an ambitious set of growth objectives and differentiate ourselves in a competitive market,” said Tony Wanderon, CEO of NAC. “We are confident that by combining the platform we built with LMP with the deep experience and expertise of APCO, we will create the leading F&I platform in the industry.”

“We have had a terrific partnership with Tony, Courtney, and the entire NAC team, and we are proud of the growth rate NAC was able to achieve to differentiate itself in a crowded market,” said Trevor Rich, a Partner at LMP. “Completing 21 acquisitions since 2020 was no small feat and is a testament to the unique platform that the NAC team has built. NAC has become the acquirer of choice in the F&I market and the Company’s growth story, coupled with its value prop, has attracted many F&I agents and administrators looking to find their next partner to accelerate growth.”

“We laid out a very ambitious growth plan from the beginning, knowing that we would need to invest heavily in the business to achieve our goals,” said Courtney Hoffman, Senior VP of Mergers & Acquisitions at NAC. “LMP supported us each step of the way, offering both expertise and resources to help us execute on the vision. As we move into the next chapter, we are excited to unite with APCO, which will enable us to achieve the next set of ambitious growth objectives.”

Piper Sandler & Co. and Schulte Roth & Zabel LLP advised LMP and NAC in connection with the transaction. Weil, Gotshal & Manges LLP advised APCO in connection with the transaction.

About National Auto Care
NAC is one of the longest operating providers of products such as vehicle service contracts, guaranteed asset protection, limited warranty, tire and wheel and a full suite of ancillary protection products nationwide. NAC provides F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, auto dealers, RV dealers, powersports dealers, financial institutions, third-party administrators, and credit unions.

About LMP
LMP is a private equity firm focused on investments in financial services, financial technology and related business services. LMP partners with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since LMP’s inception in 1999, it has become a leader in its chosen space, raising $3.5 billion of committed capital from leading institutional investors.

LMP seeks to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which LMP specializes include financial and insurance technology; payments; insurance brokerage and services; wealth and asset management; and related business services.

About APCO Holdings, LLC
Since 1984, APCO has grown to become a leading provider and administrator of F&I products for the auto industry. Built on a foundation of financial security and a commitment to understanding our customers' needs, APCO is a trusted partner to some of the most well-respected insurers, highly successful dealerships, and leading auto industry players in the country. The company markets its products using the EasyCare, GWC Warranty, and MemberCare brands, as well as other private label products, through a network of independent agents and an internal salesforce that specialize in consulting with and servicing the automotive dealership markets. EasyCare, GWC Warranty, and MemberCare F&I products are the only "MotorTrend® Recommended Best Buy" in the industry. They also carry top ratings from the Better Business Bureau, have protected over 11 million customers, and have paid over $3.5 billion in claims.
Nov 22,
2022

Engage People's Len Covello Named One of Canada's Top Tech Titans
11.22.22

Engage People's Len Covello Named One of Canada's Top Tech Titans

Congratulations to portfolio company Engage People Inc. and Len Covello, CTO, who was named as one of 20 tech leaders in Canada! Click here to read on for more details.

Engage Len Covello
Nov 16,
2022

Portfolio Company Fortis Acquires Payment Logistics
11.16.22

Portfolio Company Fortis Acquires Payment Logistics

Congratulations to portfolio company Fortis on their latest acquisition, Payment Logistics, expanding its embedded payments footprint & technology stack. Read on for more!
Nov 10,
2022

PE Hub Europe Article Highlights LMP's London & Capital Deal
11.10.22

PE Hub Europe Article Highlights LMP's London & Capital Deal

We're proud to be included in this article in PE Hub Europe highlighting private equity opportunities in wealth management! Click here to read more.
Oct 18,
2022

LMP Appoints Ron Austin to Advisory Council
10.18.22

LMP Appoints Ron Austin to Advisory Council

Insurance Industry Veteran Brings More Than 40 Years of Experience and Investment Expertise

PHILADELPHIA, LOS ANGELES, and NEW YORK – October 18, 2022 – Lovell Minnick Partners (‘LMP’), a private equity firm focused on investments in financial services, financial technology and business services companies, today announced the appointment of Ron Austin to the firm’s Advisory Council. Mr. Austin will assist LMP in all phases of its insurance investments, as well as introduce operational improvements to existing insurance related portfolio companies.

“As an experienced and respected insurance industry veteran, Ron will bring unparalleled expertise to LMP’s insurance investments,“ said Trevor Rich, Partner at LMP. “Having worked closely with Ron for many years, we’re thrilled to bring his capabilities and strengths to our insurance-related portfolio companies.”

Mr. Austin was most recently an Executive Vice President in the Amwins Group, a leading global independent wholesale distributor of specialty insurance products. Prior to this, he served as President of former LMP portfolio company, Worldwide Facilities, a wholesale insurance broker, managing general agent, and program underwriter. His responsibilities at Worldwide included leading the execution of a growth strategy that included acquisitions as well as significant organic growth. Previously, Mr. Austin was on the carrier side of the insurance business, creating and leading a specialty insurance company on behalf of a publicly traded holding company and has held various underwriting and management positions since beginning his career.

“After years of working directly with the team at LMP, I am confident the strategic resources and guidance that LMP provides to its portfolio companies are unlike any other firm,” said Mr. Austin, Advisor to LMP. “As I think about the opportunities to build great businesses within the insurance industry, I’m excited to be able to work alongside such an experienced team and to help these companies reach their full growth potential.”

LMP’s Advisory Council members are independent contractors that serve as advisors to the firm as well as its portfolio companies.

Ron Austin
Oct 11,
2022

LMP named an honoree of Inc. Magazine’s 2022 Founder-Friendly Investor award
10.11.22

LMP named an honoree of Inc. Magazine’s 2022 Founder-Friendly Investor award

We are excited to announce we have been named an honoree of Inc. Magazine’s 2022 Founder-Friendly Investor award for the second year in a row!

The award is given to PE and VC firms with a track record of partnering with entrepreneurs and helping them achieve long-term strategic goals, and it’s an honor to be recognized for our continued commitment to working with founders and their teams to help their businesses grow to their full potential.

“We are thrilled to once again be named to Inc.’s Founder-Friendly Investors list,” said Steve Pierson, Managing Partner at LMP. “Taking a collaborative approach with founders and business owners to help them build strong companies is what serves as the foundation for our investing strategy and we’re very proud that these entrepreneurs have identified us as a leading firm in this regard.”

 To learn more about the award, including how the list was compiled, and see the full list of honorees, visit this link.
Read More
Oct 03,
2022

LMP Hosts Emerging Trends in Wealth Management Webinar
10.03.22

LMP Hosts Emerging Trends in Wealth Management Webinar

We recently hosted a live panel discussion on Emerging Trends in Wealth Management which drew over 110 senior executives from the industry. A big thanks to our panel participants Paul Jodice of Morgan Stanley, Elizabeth Nesvold of Raymond James, Matthew Fleissig of Pathstone and Kunal Shah of iCapital, and LMP's Brad Armstrong who served as moderator.

LMP's Wealth Management Panel
Sep 28,
2022

Portfolio Company Engage People Named as One of Canada's Top Growing Companies
09.28.22

Portfolio Company Engage People Named as One of Canada's Top Growing Companies

Portfolio company Engage People, the loyalty network that enables program members to pay with points directly at checkout, has been named to The Globe & Mail report of Canada's Top Growing Companies! Read the full news here.
Sep 16,
2022

Portfolio Company Engage People Inc. and FreedomPay will be partnering to expand the ubiquity of loyalty points as a currency to bricks and mortar stores
09.16.22

Portfolio Company Engage People Inc. and FreedomPay will be partnering to expand the ubiquity of loyalty points as a currency to bricks and mortar stores

Exciting news from portfolio company Engage People Inc.: Engage and FreedomPay will be partnering to expand the ubiquity of loyalty points as a currency. The partnership allows retailers to accept points as a form of in-store payment through the FreedomPay commerce technology platform. Click here to read the full details.
Sep 13,
2022

Portfolio Company STP Investment Services Appoints Dan Houlihan as President
09.13.22

Portfolio Company STP Investment Services Appoints Dan Houlihan as President

Portfolio company STP Investment Services is thrilled to officially welcome Dan Houlihan as President! Read the complete announcement here. 
Sep 09,
2022

FundFire Interviews Principal Jason Klein Regarding Fund Administrators & Hedge Fund Services
09.09.22

FundFire Interviews Principal Jason Klein Regarding Fund Administrators & Hedge Fund Services

Principal Jason Klein spoke with Peter Ortiz of FundFire to discuss how fund administrators are moving into various hedge fund services beyond just fund administration and operations, and explains that hedge fund managers likely will not settle for weaker offerings. “They have investor-level data, cash flows, other performance information and financial information, and the more they can invest in data and visualization solutions around the information that they already have, that would be well received by the fund community.” Read the full piece by clicking here.
Sep 08,
2022

GrowthCap Names Lovell Minnick to Its List of Top 25 PE Firms for 2022
09.08.22

GrowthCap Names Lovell Minnick to Its List of Top 25 PE Firms for 2022

We are thrilled to announce that out of 600 firms considered, LMP has been named one of GrowthCap’s Top 25 Private Equity Firms of 2022! Selections were based on GrowthCap’s evaluation of firm capabilities beyond financial capital, portfolio company value creation, firm growth and track record, firm culture, and commitment to ESG, among other factors. We would also like to congratulate our fellow honorees on this exciting recognition of excellence in PE. To learn more about the award visit this link.
Aug 22,
2022

Off-Duty with Buyouts: Lovell Minnick’s Spencer Hoffman on the joy of cooking, fly fishing and Janis Joplin
08.22.22

Off-Duty with Buyouts: Lovell Minnick’s Spencer Hoffman on the joy of cooking, fly fishing and Janis Joplin

In the latest edition of Off-Duty, Partner Spencer Hoffman spoke with Buyouts about what he likes to do outside of work when he’s not chasing deals, including cooking, fly-fishing and spending time with his family. Read the full piece by clicking here!
Aug 17,
2022

Inc. 5000 Names Portfolio Companies Xactus and oneZero Among America's Fastest-Growing Private Companies
08.17.22

Inc. 5000 Names Portfolio Companies Xactus and oneZero Among America's Fastest-Growing Private Companies

We're excited to announce Inc. 5000 has named LMP portfolio companies Xactus and oneZero among America's Fastest-Growing Private Companies! In addition to ranking in the top 300, Xactus is the 21st fastest-growing financial services company in the country. Click here to read the full press release for Xactus and here for oneZero.
Aug 16,
2022

Portfolio Company ATTOM Acquires Estated
08.16.22

Portfolio Company ATTOM Acquires Estated

Congratulations to portfolio company ATTOM, a leading curator of real estate data nationwide, on the acquisition of Estated, a property data licensing company! Click to read all the details.
Aug 03,
2022

Keeping Up with Lovell Minnick Partners, 2022 YTD Review
08.03.22

Keeping Up with Lovell Minnick Partners, 2022 YTD Review

Have you heard the latest? Catch up on our news and activity so far this year by reading the latest issue of Keeping Up with Lovell Minnick Partners: 2022 YTD Update Edition!
Jul 27,
2022

Portfolio Company Engage People Names Roumi Zlateva to Board of Directors
07.27.22

Portfolio Company Engage People Names Roumi Zlateva to Board of Directors

Roumi Zlateva, Principal, has been named to the Board of Directors at portfolio company Engage People! Read here for more details. 
Jul 26,
2022

Portfolio Company Xactus Acquires MassiveCert
07.26.22

Portfolio Company Xactus Acquires MassiveCert

Portfolio company Xactus announces the acquisition of MassiveCert, which expands flood services offering and broadens data and technology offering. Click here to read on for more!
Jul 20,
2022

London & Capital Announces Launch of Its Inagural European Office
07.20.22

London & Capital Announces Launch of Its Inagural European Office

Following a period of strong and sustained growth, London & Capital announces the launch of its inaugural European office in Barcelona, Spain. Click here for all the details!
Jul 18,
2022

Portfolio Company Inside Real Estate selected by powerhouse RE/MAX to deliver top ranked kvCORE Platform to agents across the US & Canada
07.18.22

Portfolio Company Inside Real Estate selected by powerhouse RE/MAX to deliver top ranked kvCORE Platform to agents across the US & Canada

Inside Real Estate selected by global powerhouse RE/MAX to provide kvCORE Platform and integrated add-on solutions to all company-owned regions across the US and Canada, helping agents and teams achieve maximum productivity in any market. Click here to read the exciting details!
Jul 13,
2022

LMP Hosts Inaugural Women in Fintech Event in New York City
07.13.22

LMP Hosts Inaugural Women in Fintech Event in New York City

In July, we held our inaugural Women in Fintech event at the beautiful Kirkland & Ellis office in midtown Manhattan. We hosted over 50 guests, predominantly women, from a variety of industries including fintech, crypto, PE and VC, for a lively conversation around investing, innovation, and the future of the industry.

We would like to thank our panelists and moderators for such insightful discussions. Different Shades of FinTech – How GPs Invest in Financial Technology, with Abby S., Roumi Zlateva, Martha Notaras and Stephanie Khoo and Digital Assets & Crypto 101 and Beyond with Philippa Ushio, Rabia Iqbal, Kelly Mathieson and Christine Kang.

Thank you to our co-sponsors Vestigo Ventures, Prosek Partners and Rise, created by Barclays - the Home of FinTech, for helping us to put together such an incredible event.


Women in FinTech
Jul 05,
2022

Portfolio Company Charles Taylor Announces Acquisition of V&B Group
07.05.22

Portfolio Company Charles Taylor Announces Acquisition of V&B Group

Portfoli company Charles Taylor acquires V+B Group, further expanding Charles Taylor Marine Technical Services’ presence in European market. Read on here for more!
Jun 29,
2022

Portfolio Company Pathstone Announces Two New Independent Board Members
06.29.22

Portfolio Company Pathstone Announces Two New Independent Board Members

Growing to become better, not bigger. Portfolio company Pathstone is pleased to welcome two new members to the Pathstone Board, Dr. Michelle Shell and Vamsi Yadlapati. Click here to read more!
Jun 22,
2022

PE Hub Interviews Partner Spencer Hoffman and London & Capital CEO Guy McGlashan
06.22.22

PE Hub Interviews Partner Spencer Hoffman and London & Capital CEO Guy McGlashan

LMP's Partner Spencer Hoffman and London & Capital CEO Guy McGlashan spoke with PEHub’s Nina Lindholm about LMP’s recent agreement to invest in the company and the opportunities a partnership like this presents for both firms. “We think it’s always a good time to invest in financial services, since it drives the global economy,” Hoffman said. “It has long-term, secular tailwinds that we think are a great investment opportunity for firms like us.” Read the full piece by visiting the link here.
Jun 17,
2022

Portfolio Company Charles Taylor Announces the Acquisition of Peru-based Herrera DKP
06.17.22

Portfolio Company Charles Taylor Announces the Acquisition of Peru-based Herrera DKP

Acquisition of the Peru-based loss adjuster matches local expertise with global resources and expands Charles Taylor’s growing footprint in Latin America

Charles Taylor Adjusting, a provider of claims solutions to the global insurance market, today announced that it acquired Peru-based Herrera DKP, a loss adjusting firm that has been a leader in the Latin American market for more than three decades.

Founded in 1990, Herrera DKP has developed an extensive suite of services and deep-rooted expertise in managing claims in Fire and related lines, Engineering Insurance, Civil Liability, General Risks as well as Marine both in Transportation and Hull and Machinery. The firm is renowned for its sophisticated engineering capabilities and a team of highly experienced professionals who set the standard for technical precision and operational excellence in the Peruvian market.

The acquisition allows Charles Taylor Adjusting to further strengthen its presence in Peru specifically and Latin America more broadly, enhancing its capabilities across a number of key business lines and adding to its existing businesses in Peru, Chile, Colombia, Brazil and Mexico. The Herrera DKP leadership team will continue to run the business and spearhead its growth, collaborating with and reporting into Martín Bereche, CEO of Charles Taylor Adjusting Peru.

"We’ve achieved tremendous growth in the Latin American market in recent years, and the acquisition of Herrera DKP is yet another major milestone in our global expansion strategy," said Felipe Ramirez, Regional Head, Latin America, Charles Taylor Adjusting.

Martín Bereche, CEO of Charles Taylor Adjusting Peru, said, “Herrera DKP’s localized expertise combined with Charles Taylor Adjusting’s global resources and network represents a perfect formula for success. Together, we will be able to deliver an expanded range of services to clients, including advanced technological tools, and capitalize on the many opportunities that have opened up in the Latin American market.”

Luis Herrera, Executive at Herrera DKP, said: “Joining the Charles Taylor family marks an incredibly exciting new chapter for Herrera DKP and our clients. We have always been committed to providing best-in-class service, and with added resources behind us following the acquisition, we are poised to continue building on our successes long into the future.”

About Charles Taylor
Charles Taylor is an independent, global provider of claims solutions, insurance management services and technology platforms for all property and casualty and specialty insurance markets. We offer complex loss adjusting, technical services, third-party administration and managed care programs with specialization in P&C, aviation, energy and marine claims. With over 100 years of expertise at our core, we offer a comprehensive suite of solutions across all lines of business to help our clients manage risk.

Charles Taylor employs more than 3,100 staff across our expansive global network in more than 30 countries across Europe, the Americas, Asia Pacific, the Middle East and Africa. The company delivers risk management solutions to a diversified customer base that includes regional, national and international insurance companies, self-insured employers, mutuals, captives, brokers, Lloyd's syndicates and reinsurers. Our clients benefit from customized solutions, technical expertise and the global reach of our award-winning solutions. Visit our website here.
Jun 13,
2022

Portfolio Company Matthews Asia Announces Cooper Abbott as Chief Executive Officer
06.13.22

Portfolio Company Matthews Asia Announces Cooper Abbott as Chief Executive Officer

Portfolio Company Matthews Asia announces Cooper Abbott as Chief Executive Officer - click here to read all the details!
Jun 09,
2022

Lovell Minnick Partners Enters into Strategic Partnership with London & Capital
06.09.22

Lovell Minnick Partners Enters into Strategic Partnership with London & Capital

London & Capital Management Team Will Continue to Lead the Company; Retain a Significant Minority Stake and Reinvest in the Business to Further Accelerate Growth and Develop Their Client Proposition

PHILADELPHIA & LONDON--June 9, 2022--Lovell Minnick Partners (“LMP”), a private equity firm focused on investments in financial services, financial technology, and related business services, today announced the signing of a definitive agreement to acquire a majority stake in London & Capital. London & Capital is an independently owned, London-based, wealth and asset manager with £4.1 billion in assets under management. As part of the transaction, London & Capital’s management team will continue to lead the business and will retain a significant minority stake. Financial terms were not disclosed.

London & Capital has served at the forefront of London’s wealth management sector for over 30 years, focusing on serving domestic and international high-net-worth (“HNW”) and ultra-high-net-worth (“UHNW”) individuals, including many who have US connections, and institutions. London & Capital has grown its AUM, revenues, and profits strongly in the last five years, extended its services into Europe to support clients post-Brexit, and developed multiple new services and technology solutions for its expanding client base. The Company now serves over 800 private and institutional clients. Of the Company’s 120 employees, more than 50 are dedicated investment professionals and financial advisers working directly with clients.

“We chose to partner with LMP because of the firm’s excellent track record of working with management teams to scale and enhance wealth and asset management firms. Their deep experience in the space and our sense of shared values and culture align with our focus on providing an exceptional service and experience for our clients,” said Guy McGlashan, Chief Executive Officer at London & Capital. “We are at an exciting point in our evolution as a firm, and attracting the private investment plus the operational support LMP offers, will allow us to expand our client solutions, grow internationally, invest in technology, and bring on new teams. We look forward to working closely with the LMP team.”

“London & Capital’s long-standing success and stability is a testament to their comprehensive and client-centric approach to wealth and asset management,” said Spencer Hoffman, Partner at LMP. “Their excellent client relationships, strong culture and talented teams position them very well for organic and inorganic growth in what are largely fragmented markets both locally and internationally.”

"Daniel would have been very pleased to see the continued success of the business as it moves into this new phase,” said Elaine Freedman, wife of the late founder of London & Capital, Daniel Freedman. “We are delighted with the new partnership with LMP and wish them and the management team every success in the future."

The transaction is expected to close in the fourth quarter of 2022, subject to customary regulatory reviews and approvals. Raymond James Financial International Limited served as financial adviser to LMP and Spencer House Partners served as financial adviser to London & Capital. Proskauer Rose LLP served as legal counsel to LMP and Charles Russell Speechlys served as legal counsel to London & Capital. Wallace LLP and Cavendish Corporate Finance LLP served as legal and financial advisers respectively to the Freedman family.

About London & Capital

Established in 1986, London & Capital is a specialist wealth and asset manager working with private and institutional clients. The Company supports its clients in developing financial strategies, investing with a focus on capital preservation and providing clear, concise global reporting. Many of London & Capital’s private clients are international, with finances, business interests, property, and family across multiple countries. The Company is a recognised market leader in advising US connected persons.

London & Capital’s institutional business offers a full end-to-end asset management proposition for its predominantly insurance company clients. From identifying investment objectives and risk appetite to portfolio construction and management, to ongoing monitoring and reporting. The Company’s deep expertise in insurance ensures portfolios are tailored also to meet the business requirements of its clients.

With offices in London, Barcelona and Barbados, London & Capital is one of the few UK based wealth and asset managers which are UK (FCA), US (SEC) and EU (CNMV) regulated.
Jun 01,
2022

Portfolio Company Pathstone Announces Its Leadership Succession Plan
06.01.22

Portfolio Company Pathstone Announces Its Leadership Succession Plan

Portfolio company Pathstone announces its exciting leadership succession plan. Read on for all the details!
May 20,
2022

LMP Hosts Its 2022 Executive Summit
05.20.22

LMP Hosts Its 2022 Executive Summit

In mid-May, the LMP team and our portfolio company executives got together in-person for the first time since 2019 at the LMP Executive Summit. We had a great time exchanging ideas and discussing key areas of focus for our teams, including go-to-market strategy, leveraging data & analytics and managing the workforce of tomorrow.

We greatly appreciate the contributions of all our portfolio executives over the past two years and are already looking forward to getting together again soon!

LMP 2022 Executive Summit
Read More
Apr 08,
2022

Managing Partner Steve Pierson's Thoughts on the Fintech Investing Landscape in this Q&A with PE Hub
04.08.22

Managing Partner Steve Pierson's Thoughts on the Fintech Investing Landscape in this Q&A with PE Hub

Managing Partner Steve Pierson shared his thoughts on the fintech investing landscape and how Lovell Minnick currently views the market with PE Hub's Mary Kathleen Flynn. Read the full Q&A here!
Mar 31,
2022

Portfolio company Pathstone Announces the Acquisition of WaterOak’s Investment Advisory and Wealth Management Business
03.31.22

Portfolio company Pathstone Announces the Acquisition of WaterOak’s Investment Advisory and Wealth Management Business

Exciting news from our portfolio company Pathstone, announcing the acquisition of WaterOak's Investment Advisory and Wealth Management Business! Click here to read the full press release.
Mar 09,
2022

Lovell Minnick Partners Announces Majority Investment in STP Investment Services
03.09.22

Lovell Minnick Partners Announces Majority Investment in STP Investment Services

Investment to allow STP to accelerate organic and inorganic growth plans

PHILADEPHIA, PA — March 9, 2021 -- STP Investment Services (“STP”), an end-to-end, technology-enabled investment operations service provider that supports more than $340 billion in total assets, has received a significant growth investment from Lovell Minnick Partners (“LMP”), a private equity firm focused on investments in financial services, financial technology and related business services. This investment will enable STP to accelerate ongoing investments in innovation, technology, workflow, and talent. STP plans to advance its organic growth initiatives while also accelerating its strategy of pursuing impactful M&A opportunities in the future. Terms of the deal were not disclosed.

STP provides technology-enabled outsourcing services to a broad array of firms, including investment managers, funds, family offices, wealth managers, and plan sponsors. As a true partner to its clients, STP acts as an extension of their middle- and back-office teams to expand their resources and alleviate operational burdens. Through BluePrint, the firm’s technology platform, serving institutional and wealth management clients, STP provides clients with scalability and a customized experience best-suited to their individual business needs.

Founded in 2008, STP has steadily grown and expanded globally. In addition to its headquarters in Philadelphia, the firm opened offices in Bengaluru, India in 2014 to provide continuous client service. More recently, STP completed the acquisition of AlphaOne Capital (2019) to increase its trading, compliance and emerging manager services. In addition, in 2020, STP completed the acquisition of Accusource to expand its services to registered investment advisors (RIAs), family offices and asset managers. At the end of 2021, the STP acquired third-party fund administrator Tower Fund Services, providing STP clients with a turnkey fund administration platform.

“LMP’s reputation as a growth-oriented investor in financial services precedes them,” said Patrick Murray, Chief Executive Officer, STP. “As we were looking for a strategic partner, it was important to us to find a partner that understood our business and our target market while also enabling us to continue to add value to our clients across different technology and service solutions, with a track record of investing in well-known industry success stories. LMP’s emphasis on client experience and high-touch services at their core was very impressive to us.”

LMP, headquartered in Philadelphia with offices in Los Angeles and New York, has a long track record of investing in the asset and wealth management industry, along with the technology and services firms that support those companies, most recently in Foreside Financial Group.

“We have a long track record of successful partnership with high-growth, technology-driven companies run by proven, dynamic management teams with client-first attitudes,” said Spencer Hoffman, Partner at LMP. “We believe STP fits this profile perfectly. Anticipating their customers' near- and long-term needs, STP continuously innovates. They use their technology and global footprint to put clients first, and it shows in the success they’ve had. We look forward to working closely with Patrick and the rest of STP’s management team as they grow the business and to further broaden the scope of technology-enabled solutions they provide.”

Brad Armstrong, Partner at LMP, commented, “Having invested in over 30 asset managers, wealth managers, and technology and outsourcing providers serving the investment product value chain, we have a deep appreciation for the operational challenges that investment managers face in today’s market environment. STP’s solutions allow clients to focus on core competencies and business plan execution while saving costs and mitigating risk. As a technology-driven, outsourced service provider with broad capabilities across asset classes, STP is uniquely positioned to help clients thrive while delivering first-class service.”

As a result of LMP’s investment in STP, members of the Philadelphia-based firm will join STP’s board, with Murray and the leadership team remaining in place.

Murray concludes, “LMP’s partnership with STP is proof positive that the technology and services model is not only working well, but the way of the future.”

Raymond James served as financial advisor, and Fox Rothschild served as legal advisor, to STP. Schulte, Roth & Zabel and Nishith Desai Associates served as legal advisors to LMP.

For more information about STP, click here.

About STP Investment Services
STP Investment Services is an award-winning technology-enabled services company that provides front, middle, and back-office solutions to investment managers, funds, family offices, wealth managers, and plan sponsors providing the service, software, expertise, and confidence needed to focus on their core business objectives. STP provides a broad range of services and SaaS offerings for the financial services industry with capabilities to process all asset classes and meet ever-evolving business requirements. STP has been recognized multiple times for its strong company culture by the Philadelphia Business Journal and Inc. Magazine as well as being twice in a row being named as Outsourced Provider of the Year by Financial Technologies Forum (FTF). With nearly 250 employees around the world, STP services and provides solutions clients representing more than $340 billion in assets supported. Visit STP Investment Services and follow us on LinkedIn and Twitter.
Mar 08,
2022

Portfolio Company ATTOM Named as 2022 Tech100 Real Estate Honoree
03.08.22

Portfolio Company ATTOM Named as 2022 Tech100 Real Estate Honoree

Exciting news from our portfolio company ATTOM, once again named by HousingWire as a 2022 Tech100 Real Estate Honoree! Click here for full details.
Mar 01,
2022

Portfolio Company UniversalCIS | Credit Plus Rebrands as Xactus
03.01.22

Portfolio Company UniversalCIS | Credit Plus Rebrands as Xactus

Xactus: committed to building the modern mortgage experience

PHILADELPHIA – March 1, 2022 — UniversalCIS | Credit Plus, the leading verifications provider for the mortgage industry, announced today its new name, Xactus, marking a new beginning for the company. The comprehensive initiative includes the creation of a new logo, website, key messages, and tagline, “Advancing the Modern Mortgage,” which speaks to Xactus’s focus to be an innovative and transformative force in the mortgage industry.

Xactus reflects the company’s qualities of being exact, factual, accurate and its commitment to advancing the delivery of the modern mortgage which will enable lenders to close more loans, more quickly and provide a better consumer experience.

“As the market-leading verifications company in the mortgage sector, we wanted a name that better reflected the future of our company and industry. Xactus is more than a rebrand – it’s a strategic initiative to innovate. We’re solely focused on challenging the status quo and reimagining workflows, processes, and the ways data is delivered and consumed,” said Perry Steiner, Chairman and CEO of Xactus.

“We are dedicated to helping lenders deliver the modern mortgage experience,” said Shelley Leonard, President of Xactus. “By integrating our proprietary technology with proven processes and our stellar customer service, Xactus enables lenders to enhance profitability with industry-leading speed, reliability, and accuracy.”

This strategic shift reflects the company’s evolution and the significant growth it has experienced over the last two years due to the recent mergers of Credit Plus, Universal Credit Services, CIS Credit Solutions, Avantus, Datafacts Lending Solutions, and SharperLending. The intertwining of these legacies makes Xactus uniquely capable of advancing the modern mortgage.

About Xactus
Xactus is the leading verification innovator for the mortgage industry. The company has over 6,500 clients ranging from the largest bank and non-bank mortgage originators to credit unions and mortgage brokers. With 12 operation centers across the U.S., Xactus works closely with its clients to digitally integrate a 360° approach to verification across their workflows. As a result, lenders can easily access the technology necessary to meet consumer demands for a modern mortgage experience with industry-leading speed, reliability, and accuracy – while also closing more loans more quickly with greater profitability. For more information, please visit xactus.com
Feb 18,
2022

Partner Brad Armstrong Interviewed by Institutional Investor Regarding the M&A "Frenzy" of 2021
02.18.22

Partner Brad Armstrong Interviewed by Institutional Investor Regarding the M&A "Frenzy" of 2021

Partner Brad Armstrong spoke with Institutional Investor about the “M&A frenzy” we experienced in 2021 and what we can expect for dealmaking in 2022. Read the full story here.
Feb 14,
2022

Partner Brad Armstrong Interviewed by Citywire RIA
02.14.22

Partner Brad Armstrong Interviewed by Citywire RIA

Partner Brad Armstrong spoke with Citywire USA about the evolving RIA landscape and why private equity has taken such a strong interest in it over recent years. Check out the story here to learn more.
Feb 07,
2022

Keeping Up with Lovell Minnick Partners, 2021 Year in Review
02.07.22

Keeping Up with Lovell Minnick Partners, 2021 Year in Review

We're pleased to present the latest edition of "Keeping Up with Lovell Minnick Partners," recapping many of our exciting achievements througouht 2021!  Click here to see all the details.
Feb 03,
2022

Portfolio Company Charles Taylor Announces Acquisition of Underwriters Safety & Claims, LLC
02.03.22

Portfolio Company Charles Taylor Announces Acquisition of Underwriters Safety & Claims, LLC

Portfolio company Charles Taylor strengthens claims solutions with the acquisition of Underwriters Safety & Claims, a Louisville, Kentucky-based third-party administrator that is known for exceptional service. Read on for details!
Jan 20,
2022

Lovell Minnick Joins ILPA's Diversity in Action Initiative
01.20.22

Lovell Minnick Joins ILPA's Diversity in Action Initiative

Lovell Minnick is proud to join the Institutional Limited Partners Association (ILPA)'s Diversity in Action initiative, a network of over 200 LPs, GPs and investment consultants sharing a commitment to advance diversity, equity and inclusion in the private equity industry. Learn more about this important program here. 
Jan 13,
2022

Lovell Minnick Partners Promotes Roumi Zlateva and Jason Klein to Principal
01.13.22

Lovell Minnick Partners Promotes Roumi Zlateva and Jason Klein to Principal

NEW YORK, PHILADELPHIA, LOS ANGELES – January 13, 2022 – Lovell Minnick Partners (“Lovell Minnick” or “LMP”), a private equity firm focused on investments in financial services, financial technology and related business services, today announced the promotions of Roumi Zlateva and Jason Klein to Principal. Ms. Zlateva and Mr. Klein both work on the firm’s investment team and will continue to source and lead investments within the financial services and financial technology sectors.

Ms. Zlateva joined the New York office of Lovell Minnick Partners as a Vice President in August 2017 and has over 11 years of experience within the private markets. Since joining Lovell Minnick, Ms. Zlateva has successfully contributed to a variety of investments including Engage People, Worldwide Facilities, ATTOM Data Solutions, Charles Taylor and Billhighway. Prior to joining Lovell Minnick, Ms. Zlateva served as a Director in the Financial Institutions Group at UBS Securities and worked at Oak Hill Capital Partners and Morgan Stanley. Ms. Zlateva earned her Bachelor of Arts with High Honors in Mathematical Economics from Colgate University.

Mr. Klein joined the Philadelphia office of Lovell Minnick Partners as an Associate in July 2011 and re-joined the firm in February 2021 as a Vice President. He currently helps lead the firm’s investments in UniversalCIS and Deep Pool Financial Solutions. Prior to his return to LMP, Mr. Klein was a Vice President on the financial services investment team at Pine Brook Partners. Throughout his 13-year career, Mr. Klein also held analyst roles at Kynikos Associates and Citigroup. Mr. Klein received his M.B.A. from Columbia Business School and holds a Bachelor of Science in Finance from the Schreyer Honors College at the Pennsylvania State University.

“Roumi and Jason are outstanding members of our team who have demonstrated their ability to navigate an incredibly robust dealmaking environment while continuing to deliver value-add for our investors, portfolio companies and the firm alike,” said Steven Pierson, Managing Partner at Lovell Minnick Partners. “We are honored to recognize Roumi’s and Jason’s contributions to our firm, and we look forward to their continued growth in the years to come.”

These promotions come off the heels of an exciting year for Lovell Minnick Partners, having deployed $280 million of capital in three companies and exited or partially exited four investments.

About Lovell Minnick Partners

Lovell Minnick Partners is a private equity firm focused on investments in financial services, financial technology and related business services. We partner with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since our inception in 1999, we have become a leader in our chosen space, raising $3.5 billion of committed capital from leading institutional investors.

We seek to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which we specialize include financial technology; payments; insurance brokerage and services; wealth and asset management; and related business services.
Jan 12,
2022

Portfolio Company Charles Taylor Announces Acquisition of Contego Investigative Services
01.12.22

Portfolio Company Charles Taylor Announces Acquisition of Contego Investigative Services

Portfolio company Charles Taylor strengthens counter-fraud capabilities with acquisition of Contego Investigative Services, LLC. Click here to read the full press release.
Jan 11,
2022

Lovell Minnick Partners Announces Majority Investment in Warner Pacific Insurance Services
01.11.22

Lovell Minnick Partners Announces Majority Investment in Warner Pacific Insurance Services

PHILADELPHIA, LOS ANGELES, NEW YORK – January 11, 2022 — Lovell Minnick Partners, LLC, a private equity firm focused on investments in financial services, financial technology and related business services, today announced it has acquired a majority stake in Warner Pacific (the “Company”), a leading employee benefits-focused General Agency with locations in California, Colorado and Texas.

Founded in 1982, Warner Pacific provides sales assistance, back-office support and a full suite of benefit administration products and tech-enabled services to insurance agents, principally focused on the small group, large group and Medicare health insurance markets. This new investment will help fuel Warner Pacific’s organic growth and M&A strategies in new and existing geographies while providing the Company with support as it scales. M&A will be a key focus for Warner Pacific as it builds out its national General Agency platform, acquires other leading insurance technology players and expands into new insurance coverages and service offerings beyond its suite of proprietary technology solutions. John and David Nelson will continue to lead the Company as Co-CEOs with the same team of employees and leadership supporting Warner Pacific’s next phase of growth.

“Warner Pacific has built a strong reputation as a dependable, best-in-class benefits General Agency specializing in medical and ancillary benefits in California, Colorado and Texas,” said Trevor Rich, Partner at Lovell Minnick. “We believe that Warner Pacific has the scale, platform and management team to become a leading national General Agency under the leadership of John and Dave Nelson, and we are excited to help them execute on their M&A strategy.”

“Here at Warner Pacific, we pride ourselves on being a high-tech and high-touch partner for our clients,” said John Nelson, Co-CEO of Warner Pacific. “As such, it was extremely important for our team to find a capital partner who shares our family-oriented values, entrepreneurial spirit and focus on innovation. It takes a unique partner to understand the type of service brokers need and that we offer, and Lovell Minnick is a great cultural fit with our team.”

“Lovell Minnick has unparalleled experience collaborating with companies in the insurance sector to achieve their growth goals,” added David Nelson, Co-CEO of Warner Pacific. “We are thrilled to partner with Lovell Minnick as we pursue M&A to expand our geographic reach, enhance our product offerings and further invest in our PRO Suite technology. We’ll do this while continuing to provide the exceptional service that Warner Pacific is known for.”

MarshBerry acted as financial adviser and Sheppard Mullin acted as legal counsel to Warner Pacific. Keefe, Bruyette & Woods acted as financial adviser and Schulte Roth & Zabel acted as legal counsel to Lovell Minnick Partners.

About Warner Pacific
With over $4.2 Billion of in-force premium, servicing more than 50,000 employers, Warner Pacific is a top-producing General Agency for many of the nation’s largest insurance carriers. Warner Pacific provides insurance agents in California, Colorado and Texas with sales assistance, innovative technology and back-office service.

While best known as a leader in the Small Group health insurance market Warner Pacific supports agents across multiple insurance markets – from Individual, Medicare, and Large Group, to Dental, life insurance, benefits administration and workers’ compensation. Warner Pacific, a company of over 300 employees, is known for its innovating approaches, industry leadership, and a team with decades of experience in the health insurance space. Learn more about the company here.
Jan 05,
2022

Portfolio Company Charles Taylor Strengthens Claims Solutions with Acquisition of Underwriters Safety & Claims, LLC.
01.05.22

Portfolio Company Charles Taylor Strengthens Claims Solutions with Acquisition of Underwriters Safety & Claims, LLC.

Charles Taylor Strengthens Claims Solutions with Acquisition of Underwriters Safety & Claims, LLC., A Third-Party Administrator Based in Louisville, Kentucky

WILTON, CONNECTICUT – January 5, 2022 – Charles Taylor, a leading provider of claims solutions in the United States announced today that it has acquired Underwriters Safety & Claims (US&C), a third-party administrator (TPA) and managed care services provider with operations across the U.S. The acquisition of US&C expands Charles Taylor’s claims management footprint and enhances the managed care solutions offered to clients.

“The strategic expansion of our TPA and managed care service offerings is a critical part of Charles Taylor’s continued focus on growing our full-service claims solutions business in the U.S., spanning TPA, Adjusting and Technical Services,” said Robert Brown, Charles Taylor’s Global Chief Executive Officer. “The acquisition of US&C, which has built a reputation for exceptional service over 80 years, brings onboard a highly experienced team of claims and managed care professionals along with long-term clients with multiple risk exposures. Together, we strengthen our comprehensive service offerings across all lines of business, including property and casualty.”

“Since our founding in 1941, US&C has been at the forefront of the industry by developing business solutions that are tailored to address the evolving needs of employers and insurers. I am extremely proud of the success our dedicated team continues to achieve,” said Scott Ferguson, US&C’s President. “Joining the Charles Taylor family will help US&C chart an exciting new chapter of growth by tapping into Charles Taylor’s national network and leveraging its global resources. This opens up a future full of opportunity for our employees and clients alike.”

US&C is a third-party claims administrator for municipalities, utilities, school districts and private employers. Specializing in workers’ compensation and liability, the company also offers a full suite of managed care services – including bill review, access to preferred provider organizations, utilization review, 24-hour nurse triage and case management. US&C is headquartered in Louisville, Kentucky, with offices and team members throughout the country.

“The acquisition of US&C, with its strong presence in the Southeast and Midwest, broadens Charles Taylor’s geographic reach beyond our strong presence along the coastal regions, a process that began last year with the acquisition of Aegis, a leading mutual management and third-party claims administrator for the municipal market,” stated Christopher Schaffer, Chief Executive Officer for Charles Taylor TPA. In addition to traditional workers’ compensation claims, Charles Taylor has extensive marine operations and has been the premier provider of maritime claims solutions with clients in every U.S. port and jurisdiction.

“US&C brings extensive expertise in the public entity and manufacturing sectors, and also has the same client-centric operating principles that are core to everything we do at Charles Taylor,” continued Christopher Schaffer. “This acquisition supports Charles Taylor’s strategy to become one of the leading providers of comprehensive claims solutions for all property and casualty claims in the U.S., offering national coverage supported by global resources.”

Waller Helms Advisors served as the exclusive financial advisor to Underwriters Safety & Claims on this transaction.


About Charles Taylor
Charles Taylor is an independent, global provider of claims solutions, insurance management services and technology platforms for all property and casualty markets, including commercial property, workers’ compensation, and auto/liability. We offer complex loss adjusting, technical services, third-party administration and managed care programs with specialization in catastrophic, aviation, energy and marine claims. With over 100 years of expertise at our core, we offer a comprehensive suite of solutions across all lines of business to help our clients manage risk.

Charles Taylor employs more than 3,100 staff across our expansive global network in more than 30 countries across Europe, the Americas, Asia Pacific, the Middle East and Africa. The company delivers risk management solutions to a diversified customer base that includes regional, national and international insurance companies, self-insured employers, mutuals, captives, brokers, Lloyd's syndicates and reinsurers. Our clients benefit from customized solutions, technical expertise and the global reach of our award-winning solutions.
Dec 23,
2021

Inside Real Estate Secures Additional Financial Partner to Accelerate Growth
12.23.21

Inside Real Estate Secures Additional Financial Partner to Accelerate Growth

Lovell Minnick Partners is pleased to announce that Genstar Capital (“Genstar”) has made an investment in Inside Real Estate (“IRE”), a Lovell Minnick Equity Partners V & V-A (“LMEP V”) portfolio company. 

MURRAY, UTAH – DECEMBER 23, 2021 – Inside Real Estate, one of the fastest-growing independently owned real estate software companies and a trusted technology partner to over 250,000 top agents, teams, and brokerages, today announced that it has received a strategic growth investment from Genstar Capital (“Genstar”), a leading private equity firm focused on investments in targeted segments of the software, industrials, financial services, and healthcare industries.

Genstar joins Inside Real Estate’s existing financial partner Lovell Minnick Partners (“Lovell Minnick”), bringing together substantial combined capital in support of Inside Real Estate’s continued growth and innovation and reinforcing Inside Real Estate’s position as the leading technology partner to the residential real estate market. Since its founding, Inside Real Estate has served as a reliable technology partner, empowering real estate brokerages, their teams, and agents with a complete tech ecosystem to supercharge business growth all from one seamlessly connected platform. Through its flagship platform, kvCORE and powerful add-on solutions, such as their recently announced CORE Home, Inside Real Estate ensures brokerages can deliver a modern, tech-enabled experience across the entire homeownership lifecycle.

“We are very excited to announce the addition of Genstar Capital as a financial partner, alongside our long-time partner, Lovell Minnick Partners,” said Joe Skousen, CEO of Inside Real Estate. “It’s more important than ever for brokerages to have best-in-class technology solutions that are seamlessly integrated, drive profitable growth and help them create customers for life. We take our responsibility as a tech partner very seriously and know our financial partners back this strategy 100%. We’re here to build the best technology in real estate and bring together the resources needed to help our customers thrive.”

“These world-class financial partners further enable our vision of being the most innovative, aligned technology partner for brokers, teams, and agents,” added Nick Macey, President of Inside Real Estate. “We know our success is driven by the success of our customers, and both Genstar and Lovell Minnick are aligned with our goal of bringing market-leading products and innovation to help our customers compete and win as the real estate landscape continues to evolve.”

“Inside Real Estate powers some of the fastest growing brokerages and brands in real estate. Their commitment to driving measurable results for their customers is evident in their continued growth and success,” said Rob Clark, Director at Genstar Capital. “The team, led by Joe Skousen and Nick Macey, has truly demonstrated the value of a trusted technology partner in the residential real estate market, and we are thrilled to support the company’s future growth plans, both organic and through acquisition.”

“Throughout Lovell Minnick’s partnership with Inside Real Estate, we have continued to be impressed with the company’s commitment to providing innovative solutions that allow clients to remain one step ahead of the ever-changing real estate market,” said John Cochran, Partner at Lovell Minnick.

“We look forward to continuing our partnership with Inside Real Estate and working with Genstar to provide the resources necessary to deliver the best experience for Inside Real Estate’s clients,” added Jason Barg, Partner at Lovell Minnick.

Jefferies LLC served as exclusive financial advisor to Inside Real Estate. Kirkland & Ellis LLP served as legal counsel for Genstar Capital, while Morgan Lewis & Bockius served as legal counsel to Inside Real Estate.

About Inside Real Estate
Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to over 250,000 top brokerages, agents, and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable, and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions. With an accomplished leadership team and its talented staff of 250 employees, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and success to their growing customer base. Visit insiderealestate.com to learn more.

About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the software, industrials, financial services, and healthcare industries.

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in financial services, financial technology and related business services. We partner with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since our inception in 1999, we have become a leader in our chosen space, raising $3.5 billion of committed capital from leading institutional investors. To date, we have completed more than 50 portfolio company investments.

We seek to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which we specialize include financial technology; payments; insurance brokerage and services; wealth and asset management; and related business services.
Dec 15,
2021

Lovell Minnick Appoints Steve Grenfell and Bill Neuman as Operating Partners
12.15.21

Lovell Minnick Appoints Steve Grenfell and Bill Neuman as Operating Partners

Mr. Grenfell and Mr. Neuman join Lovell Minnick’s Advisory Council

PHILADELPHIA, LOS ANGELES and NEW YORK – December 15, 2021 – Lovell Minnick Partners (‘LMP’), a private equity firm focused on investments in financial services, financial technology and business services companies, today announced the appointments of Steve Grenfell and Bill Neuman as Operating Partners. Mr. Grenfell and Mr. Neuman will also join the Advisory Council and work with Lovell Minnick portfolio companies to implement operational best practices and provide insights related to technology and product design. By enhancing workflow efficiency and utilizing best-in-class technologies, Mr. Grenfell and Mr. Neuman will seek to strengthen the growth trajectory of Lovell Minnick’s entire portfolio.

“As industry veterans, Steve and Bill will leverage their decades of experience to drive operational improvements and bolster the technological capabilities of Lovell Minnick and the portfolio," said Steve Pierson, Managing Partner at Lovell Minnick. "While Steve will dedicate his time towards implementing operational best practices at scale, Bill will seek to drive value creation by helping the deal team assess technology capabilities at entry and by driving state-of-the-art tech development in concert with our companies. We believe that their combined efforts will help Lovell Minnick maintain a competitive advantage by providing our firm and portfolio companies with the best resources available.”

Steve Grenfell brings 30 years of experience to Lovell Minnick, having most recently served as Senior Vice President and Managing Director, Operations, for Safeguard Scientifics, Inc. In this role, his responsibilities included financial and operational oversight of the partner companies from due diligence through divestiture, as well as working with partner company management teams on strategy, financing and more. Prior to Safeguard Scientifics, Mr. Grenfell was the Chief Financial Officer of RealTime Media and worked as an Executive Director at Astra Merck through its merger into AstraZeneca. Mr. Grenfell is currently a Senior Advisor to Safeguard Scientifics and serves on the boards of Clutch Holdings and Lumesis.

Bill Neuman joins Lovell Minnick following a 30-year career in product management, engineering and consulting. He previously worked as Senior Managing Director, Product and Engineering at Eze Software. In this capacity, he was responsible for product strategy as well as all aspects of the firm’s global product development operations including product management, design, engineering and production cloud operations. Bill’s tenure saw the doubling of R&D productivity, the development of multiple award-winning products and a successful PE exit with subsequent integration into the strategic buyer. Earlier in his career, Mr. Neuman held leadership positions with several technology firms including Avid Technology, Copyright Clearance Center and PTC.

“At Lovell Minnick, we are consistently identifying ways to provide our portfolio companies with access to resources and industry expertise that will support their growth and improve business outcomes for all,” said Spencer Hoffman, Partner at Lovell Minnick. “Our Operating Partners and the Advisory Council have been terrific resources for our management teams, and we believe that Steve and Bill will be great additions to the Lovell Minnick team.”

LMP’s Operating Partners and Advisory Council members are independent contractors that serve as advisors to Lovell Minnick as well as to the firm’s portfolio companies.

About Lovell Minnick Partners

Lovell Minnick Partners is a private equity firm focused on investments in financial services, financial technology and related business services companies. The firm partners with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since Lovell Minnick’s inception in 1999, it has become a leader in its chosen space, raising $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, Lovell Minnick has completed more than 50 portfolio company investments.

Lovell Minnick seeks to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which the firm specializes include financial and insurance technology; payments; insurance brokerage and services; asset and wealth management; and related business services companies.
Dec 14,
2021

Portfolio Company UniversalCIS Announces Shelley Leonard Joins as President and Board Member
12.14.21

Portfolio Company UniversalCIS Announces Shelley Leonard Joins as President and Board Member

Portfolio company UniversalCIS | Credit Plus, a market leader in mortgage technology, credit reporting, and related products and solutions for mortgage originators, announces Shelley Leonard Joins the firm as President and Board Member. Read on for more details!
Dec 10,
2021

Portfolio Company Fortis Continues Its Rapid Growth
12.10.21

Portfolio Company Fortis Continues Its Rapid Growth

Portfolio company Fortis, a payment and commerce technology leader, continues its rapid growth with ERP channel acquisition and expanded leadership team! Read on for details.
Dec 08,
2021

Portfolio Company HWM Group Becomes Deep Pool Financial Solutions
12.08.21

Portfolio Company HWM Group Becomes Deep Pool Financial Solutions

Following its acquisition of KOGER’s assets, portfolio company HWM announces a new name and rebranding initiative. Read more here!
Dec 02,
2021

Portfolio Company LSQ Announces Partnership with Esker
12.02.21

Portfolio Company LSQ Announces Partnership with Esker

Portfolio Company LSQ, a leading provider of technology-driven working capital solutions, announces strategic partnership with Esker, a global cloud platform and leader in AI-driven process automation solutions. Click here to read more!
Nov 10,
2021

Partner Brad Armstrong Quoted by Fox Business
11.10.21

Partner Brad Armstrong Quoted by Fox Business

Partner Brad Armstrong shared his thoughts on the CPI report that published November 10th and what signs of an inflationary surge means for the market going forward. Read more here.
Nov 09,
2021

Lovell Minnick Partners Awarded Best Buyout Manager by Private Equity Wire US Awards
11.09.21

Lovell Minnick Partners Awarded Best Buyout Manager by Private Equity Wire US Awards

Firm recognized in $2.5 billion category

PHILADELPHIA & LOS ANGELES & NEW YORK—October 22, 2021 – Lovell Minnick Partners, LLC, a private equity firm focused on investments in financial services, financial technology and related business services companies,  announced that it has been named best buyout manager for fund size up to $2.5 billion by the Private Equity Wire US Awards.

Since the firm’s inception in 1999, Lovell Minnick has partnered with more than 50 companies and led over 115 add-on acquisitions across the insuretech, payments, specialty finance, insurance brokerage and services, asset and wealth management, and business services sectors. Most recently, Lovell Minnick closed on its sale of Foreside Financial Group in early Q4 2021 and acquired a stake in mortgage solutions provider UniversalCIS in early 2021. The firm has raised $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations and held the final close of Fund V in late 2019 after hitting its hard cap of $1.28 billion.

The Private Equity Wire US Awards recognize fund managers and service providers covering all facets of the private equity ecosystem. To select the GP performance winners, Private Equity Wire utilized data provided by Bloomberg to compile shortlists. Readers were then invited to vote for the shortlisted firms via an online poll over a period of several weeks. Click here to view the complete list of winners.

“This award reflects our commitment to delivering value to our portfolio companies and investors alike and is a testament to our team’s hard work and dedication over the past two decades,” said Steve Pierson, Manager Partner at Lovell Minnick Partners. “It is an honor to have been recognized, and we look forward to continuing to partner with growth-oriented management teams to drive future results.”

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in financial services, financial technology and related business services. The firm partners with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since Lovell Minnick’s inception in 1999, it has become a leader in its chosen space, raising $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, Lovell Minnick has completed more than 50 portfolio company investments.

Lovell Minnick seeks to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which the firm specializes include financial and insurance technology; payments; specialty finance; insurance brokerage and services; asset and wealth management; and related business services companies.

About the Award
The pre-selection criteria for the “Best Buyout Manager (fund size up to $2.5bn)” award shortlist was provided by Bloomberg. Candidates were determined as follows: (i) the fund manager universe included all funds managed by US-headquartered GPs, (ii) all funds in each category were grouped into their respective vintages and ranked on the basis of their net IRRs as at the end of 2020, (iii) for the performance categories, five vintages of funds were analyzed (2015-2019), (iv) all GPs that had more than one fund ranked among the top performers across those five vintages were shortlisted for that category, and (v) for the asset band groupings, asset thresholds were based on the respective individual fund sizes – not the overall assets under management of the GP in that category. Voting for the eventual winners was then conducted via an extensive online poll of the Private Equity Wire readership over a period of several weeks.
Nov 01,
2021

Partner Trevor Rich Interviewed by Private Equity International
11.01.21

Partner Trevor Rich Interviewed by Private Equity International

Partner Trevor Rich recently spoke with Private Equity International about opportunities in the insurance industry and his thoughts on where it's headed as the sector becomes increasingly modernized with more technologies being brought into the space. Read more here.
Oct 27,
2021

Portfolio Company Inside Real Estate Launches CORE Home
10.27.21

Portfolio Company Inside Real Estate Launches CORE Home

Portfoli Company Inside Real Estate launches CORE Home, first-of-its-kind homeownership solution to put real estate brokerages at the center of the coveted lifetime consumer relationship.  The breakthrough technology will be available to kvCORE users in 2022.  Read the full press release here.
Oct 20,
2021

Portfolio Company National Auto Care has acquired Mojo Consulting LLC, the 10th acquisition by NAC in the last 18 months!
10.20.21

Portfolio Company National Auto Care has acquired Mojo Consulting LLC, the 10th acquisition by NAC in the last 18 months!

Portfolio Company National Auto Care anounces the acquisition of Mojo Consulting LLC, the 10th acquisition by NAC in the last 18 months!  Read here for more details.
Oct 11,
2021

Principal Saurabh Desai recently spoke at the Investment News RIA Summit
10.11.21

Principal Saurabh Desai recently spoke at the Investment News RIA Summit

Principal Saurabh Desai recently spoke at the InvestmentNews RIA Summit about private equity’s strong interest in the RIA space as industry tailwinds are expected to continue. Read more here.
Oct 05,
2021

Portfolio Company UniversalCIS Merges with Credit Plus
10.05.21

Portfolio Company UniversalCIS Merges with Credit Plus

Merger Creates Leading Technology and Credit Provider for the Mortgage Industry

PHILADELPHIA – October 5, 2021 — UniversalCIS, a market-leading, technology-enabled provider of credit data and related origination solutions in the mortgage industry, and Credit Plus, a leading provider of mortgage verifications and business credit reports, today announced the merger of their companies. As a result of the merger, the new company will become the largest in the industry and serve over 6,500 clients in the North American mortgage market including banks, non-bank mortgage lenders, credit unions and mortgage brokers.

Credit Plus brings over three decades of experience assisting more than 2,500 lenders with its information and verification services throughout the mortgage origination process. UniversalCIS has over 4,000 clients and utilizes an innovative, proprietary technology platform that offers credit data and origination solutions and serves as the first interaction point for clients in the loan application process. The merger represents UniversalCIS’ latest milestone as the company continues to execute its growth strategy following the acquisitions of Universal Credit, CIS Credit, Avantus, DataFacts and SharperLending as well as an investment from Lovell Minnick Partners earlier this year.

The combined business will have over 750 employees and will maintain all of its current operations centers in 12 states. UniversalCIS and Credit Plus will initially retain their brands and gradually combine their operations with plans to rebrand the new company in the future. The business will be headquartered in Philadelphia and led by the combined executive teams of UniversalCIS and Credit Plus, who will all maintain leadership roles going forward. UniversalCIS Chairman Perry Steiner will become Chairman and CEO of the business, Jerry Haftmann will become Vice Chairman and Credit Plus’ CEO Greg Holmes will become Chief Revenue Officer.

“Credit Plus and UniversalCIS are widely recognized in the mortgage industry for providing best-in-class service and support during every stage of the mortgage origination life cycle,” said Perry Steiner, Chairman and CEO of the combined company. “This merger emphasizes our commitment to providing our clients with the best technology, service and solutions to meet all of their needs, and we look forward to working with the Credit Plus team as we continue to accomplish this mission.”

“We are extremely proud of all that Credit Plus has achieved and believe that UniversalCIS’ culture and values align well with our company. Better together, we share a common vision for transforming verifications and insights to better serve all lenders and their borrowers. This transaction accelerates our shared focus of becoming the leading market provider,” said Greg Holmes, Chief Revenue Officer of the combined company. “We look forward to continuing to provide excellent customer service and prioritizing our ability to deliver innovative solutions alongside the UniversalCIS team.”

“UniversalCIS has demonstrated its unique and impressive ability to scale and execute against its growth objectives,” said Jason Barg, Partner at Lovell Minnick. “This merger with Credit Plus, another impactful player in the mortgage industry, positions the combined company for continued growth and success, and we look forward to continuing our partnership with Perry, Greg, Jerry and the senior management team.”

Financial terms of the transaction were not disclosed.

About UniversalCIS
UniversalCIS is a market leader in mortgage technology, credit reporting, and related products and solutions for mortgage originators. UniversalCIS has over 4,000 clients ranging from the largest bank and non-bank mortgage originators to credit unions and mortgage brokers. UniversalCIS prides itself on the best technology, solutions, and service in the industry. UniversalCIS was created through the merger of Universal Credit Services, CIS Credit Solutions, Avantus, DataFacts, and SharperLending. For more information, please visit: UniversalCIS.

About Credit Plus, Inc.
Credit Plus provides reliable verification services from pre-application to post-close that give mortgage professionals greater confidence when making lending decisions. With the Credit Plus Collection, its comprehensive suite of verification services, lenders can successfully close more loans and better manage their risk. Credit Plus’ expertise in the residential and commercial mortgage industries enables it to quickly assess current and future needs and provide new solutions for a rapidly changing environment. Credit Plus moves mortgage professionals forward. For more information, please visit: Credit Plus.
Oct 05,
2021

Lovell Minnick Partners Named in Inc.’s 2021 List of Founder-Friendly Investors
10.05.21

Lovell Minnick Partners Named in Inc.’s 2021 List of Founder-Friendly Investors

PHILADELPHIA & LOS ANGELES & NEW YORK—October 5, 2021 – Lovell Minnick Partners, LLC, a private equity firm focused on investments in financial services, financial technology and related business services, today announced that it has been named as one of Inc. Magazine’s 2021 Founder-Friendly Investors.

Inc.’s annual Founder-Friendly Investors list honors private equity and venture capital firms with the best track record of success backing entrepreneurs. To compile this list, Inc. surveyed founders with a questionnaire about their experiences partnering with private equity firms and shared data on how their portfolio companies have grown during these partnerships. This year’s list recognizes 146 firms that entrepreneurs can trust and collaborate with while receiving the financial support they need to help accelerate growth. The complete list can be found here: http://www.inc.com/private-equity.

Lovell Minnick has more than two decades of experience partnering with companies in the financial services and fintech sectors, and has raised $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. The firm’s successful track record is evidenced by its more than 50 portfolio company investments and over 115 add-on acquisitions across industries including insuretech, payments, specialty finance, insurance brokerage and services, asset and wealth management, and more. Lovell Minnick specializes in partnering with management teams at growth-oriented companies to help them achieve their long-term strategic goals.

“Lovell Minnick has always been focused on providing our portfolio companies and CEOs with the financial and operational resources and mentorship necessary to unlock value and drive long-term growth,” said Steve Pierson, Managing Partner at Lovell Minnick Partners. “We’re honored to be recognized for this exciting achievement and look forward to continuing to work hand in hand with founders in the financial services and fintech sectors to position them for success.”

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in financial services, financial technology and related business services. The firm partners with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since Lovell Minnick’s inception in 1999, it has become a leader in its chosen space, raising $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, Lovell Minnick has completed more than 50 portfolio company investments.

Lovell Minnick seeks to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which the firm specializes include financial and insurance technology; payments; specialty finance; insurance brokerage and services; asset and wealth management; and related business services.

About Inc.
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

About the List
Inc.'s Founder-Friendly Investor list is comprised of firms identified by Inc’s editors or submitted to Inc. through an application process. Firms pay an application fee to be considered for this list. Inc. then gathers data on how each firms’ portfolio companies have grown and extensively interviews entrepreneurs, including those who've exited, on their experiences with the firms. and produces a proprietary score that determines the private equity, growth equity, and venture capital firms whose missions most significantly support startups and the men and women who found them. Inclusions on lists, rankings or awards may not be representative of a particular investor’s experience or Lovell Minnick’s or its Funds’ future performance, and there is no guarantee that similar rankings or awards will be obtained by Lovell Minnick in the future.
Oct 01,
2021

Partner Brad Armstrong Interviewed by Employee Benefit News
10.01.21

Partner Brad Armstrong Interviewed by Employee Benefit News

Partner Brad Armstrong recently spoke with Employee Benefit News about the shifting employee and employer power dynamic, and how its impacting the traditional benefits landscape. For more insights on the convergence between traditional health benefits and areas of financial services check out this article.
Sep 14,
2021

Portfolio Company FortisPay Acquires OmniFund®
09.14.21

Portfolio Company FortisPay Acquires OmniFund®

Portfolio company FortisPay has acquired OmniFund®, Payments as a Platform® enhancing their commerce technology.  Read more here.
Aug 25,
2021

Portfolio company National Auto Care Announces Five Acquisitions
08.25.21

Portfolio company National Auto Care Announces Five Acquisitions

Portfolio company National Auto Care announces five acquisitions, a critical part of the firm's growth strategy. Read more here.
Jul 15,
2021

Portfolio Company FortisPay, a Leading Commerce Technology Company, Adds Industry Vets to C-Suite
07.15.21

Portfolio Company FortisPay, a Leading Commerce Technology Company, Adds Industry Vets to C-Suite

Newly hired executives will help company continue its rapid growth

Fortis Payment Systems, LLC (FortisPay), a payment technology leader for businesses, independent software vendors (ISVs), and developers, today announced the addition of three new top executives to lead the company's continued growth and expansion into new markets. The leadership team will continue to scale the organization's offerings and support the expanding network of partners.

Greg Cohen, FortisPay's executive chairman, early integrated payments veteran and highly sought-after FinTech advisor, will serve as the company's CEO. Cohen served as the executive chairman of the organization for 18 months prior to being appointed CEO. Preceding FortisPay, Cohen lead numerous, highly-successful commerce businesses from the executive suite including, Paya, iPayment (now PaySafe) and Cayan (now part of Global Payments). Additionally, he is the former president of the Electronic Transactions Association and member of Mastercard, Discover and NACHA advisory boards.

"Greg has extensive knowledge of the commerce ecosystem and a unique ability to scale platform businesses and solutions both directly and indirectly in complex environments," said Jimmy Nafso, co-founder and executive officer of FortisPay. "His support at the board level has been tremendous and we're thrilled to have him onboard full-time as he contributes to the firm's strategic growth. His leadership will be invaluable as we continue on our rapid growth track."

FortisPay also announced two additional members of the executive team. Seasoned finance professional Dennis McLaughlin will take the helm as the company's CFO. McLaughlin previously served as the vice president of finance at Berkeley Research Group, Paya, JP Morgan & Chase Co., as well as the director of finance for Capital One. While working with Paya, Dennis served as the interim CFO and was responsible for all facets of finance and accounting. The company has also appointed strategic business advisor and IT and implementation expert Ashley Usher to serve as chief integration and information officer. Usher brings to FortisPay two decades of experience in the digital payments, FinTech and technology industries, where she has served as a partner in executive operations, product development, IT strategy and other critical initiatives. In her prior experience, Usher worked as a partner at TechCXO and vice president at Global Payments, where she led enterprise platform integrations.

FortisPay is rapidly expanding its suite of products and its market reach. The business continues to grow both organically and inorganically. In May, the company announced the acquisition of payment facilitator (or "PayFac") platform EpicPay and integrated solutions provider Change Merchant Solutions. As the organization expands, the additional leadership will enable operations to scale and consistently meet the demands of the fast-paced market.

"FortisPay is making exceptional progress as it brings promising new technologies to market and further integrates its platform with software and ERP providers, creating a truly unique value proposition in a range of industries," said Trevor Rich of Lovell Minnick Partners, a private equity backer of FortisPay. "These C-level, industry veterans bring visions of commerce enablement and track records that indicate this progress will continue, if not accelerate, at FortisPay."

About FortisPay

FortisPay provides payment technology and merchant solutions to businesses and software developers nationwide, processing billions of dollars annually. FortisPay's mission is to provide technology-enabled solutions and amazing customer experiences helping software partners and small and mid-sized businesses scale through innovation. FortisPay's proprietary platform provides state-of-the-art connectivity solutions for hundreds of business owners, software developers, and channel partners. For more information, visit www.fortispay.com.
Jul 08,
2021

Portfolio Company UniversalCIS Acquires Lending Solutions Divisions from Data Facts
07.08.21

Portfolio Company UniversalCIS Acquires Lending Solutions Divisions from Data Facts

UniversalCIS, a market-leading, technology-enabled provider of credit data and related origination solutions in the mortgage industry, today announced its acquisition of the Lending Solutions and Appraisal Management Divisions of Data Facts, a national and international consumer reporting company.  Click here to read the full press release. 
Jul 08,
2021

Portfolio company ATTOM Acquires GeoData Plus, Continuing Its Mission to Increase Real Estate Transparency
07.08.21

Portfolio company ATTOM Acquires GeoData Plus, Continuing Its Mission to Increase Real Estate Transparency

Portfolio company ATTOM Acquires GeoData Plus, continuing its mission to increase real estate transparency, enabling access to detailed property reports, valuable insights and prospecting tools.  This acquisition further solidifies ATTOM's position as the one-stop shop for premium property data.  Click here to read the full press release. 
Jul 07,
2021

Genstar Capital to acquire a majority stake in Foreside Financial Group from Lovell Minnick Partners
07.07.21

Genstar Capital to acquire a majority stake in Foreside Financial Group from Lovell Minnick Partners

SAN FRANCISCO, July 7, 2021 – Genstar Capital (“Genstar”), a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, today announced the signing of a definitive agreement to acquire a majority stake in Foreside Financial Group, LLC (“Foreside” or “Company”) from Lovell Minnick Partners (“LMP”). Foreside provides a robust offering of distribution solutions and governance, risk management and compliance (“GRC”) solutions to clients in the global asset and wealth management industries.

Established in 2005 and based in Portland, Maine, Foreside has quickly grown to become a U.S. market leader in the investment management industry, and enjoys an excellent reputation as a best-in-class service provider across its distribution and GRC solutions offerings. The Company is led by Chief Executive Officer Richard Berthy and President David Whitaker, who will remain shareholders and continue in their current management roles.

“Genstar has extensive experience in the investment management space, and we’re excited to be starting this new chapter with them,” said Berthy. “We share a strategic vision to broaden our current scope of products and services, underscored by the belief that there remains a significant need for outsourced fund and GRC services in the market. We want to be perfectly clear – maintaining first-class service for our clients is our top priority. With this support, we feel like we can grow and expand our client base while maintaining and upholding this standard.”

Sid Ramakrishnan, Principal of Genstar, remarked, “As one of the most respected outsourced solutions providers to many of the world’s leading asset and wealth managers, Foreside is uniquely positioned to help clients thrive and pursue growth opportunities in any regulatory environment. We are excited to work closely with Richard, David, and the rest of Foreside’s management team as they continue to scale the business and drive growth.”

Tony Salewski, Managing Director of Genstar, commented, “Foreside is a signature Genstar transaction, representing an opportunity to invest in a high-quality business in the asset and wealth management ecosystem supported by compelling secular GRC tailwinds. We look forward to this new partnership.”

LMP, a private equity firm focused on investments in financial services, fintech and related business services, partnered with Foreside in May 2017. In the four years since LMP’s investment, Foreside has grown extensively through its investment in both organic and inorganic initiatives.

“It’s been an amazing and rewarding journey to be a part of and support Foreside’s rise as a trusted leader in the distribution and compliance needs of the asset and wealth management industry,” said Spencer Hoffman, a Partner at LMP. “We have every confidence they will enjoy continued success in the future.”

“It has been a pleasure to partner with Foreside management as the Company expanded its service offering and professional team both organically and through acquiring strong firms in the sector,” said Jason Barg, a Partner at LMP.

The transaction is anticipated to close, subject to customary approvals, in the third quarter of 2021. Financial terms of the transaction were not disclosed.

Willkie Farr & Gallagher served as legal advisor to Genstar. Raymond James served as financial advisor, and Morgan Lewis served as legal advisor, to Foreside.

About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Together with Genstar X and all active funds, Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries.

About Foreside Financial Group
Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion* of product through their 17 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers, and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.
*as of 5/1/2021

About Lovell Minnick Partners
Lovell Minnick Partners (www.LMPartners.com) is a private equity firm focused on investments in financial services, financial technology and related business services. The firm partners with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since Lovell Minnick’s inception in 1999, it has become a leader in its chosen space, raising $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, Lovell Minnick has completed more than 50 portfolio company investments.

Lovell Minnick seeks to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which the firm specializes include financial and insurance technology; payments; specialty finance; insurance brokerage and services; asset and wealth management; and related business services.
Jun 25,
2021

Portfolio Company LSQ Announces the Expansion of FastTrack® Capabilities to Improve Access to Working Capital for More Businesses
06.25.21

Portfolio Company LSQ Announces the Expansion of FastTrack® Capabilities to Improve Access to Working Capital for More Businesses

Portfolio Company LSQ, a leading provider of technology-driven working capital solutions, announces the expansion of its working capital platform, FastTrack®, to provide businesses of all sizes accounts payable (AP) financing (supply chain finance), but also dynamic discounting and accounts receivable (AR) financing.  Read on for more detail here.
Jun 24,
2021

Portfolio Company Ecofin Announces Appointments to Newly Formed Advisory Board
06.24.21

Portfolio Company Ecofin Announces Appointments to Newly Formed Advisory Board

Portfolio company Ecofin, a sustainable investment manager, today announced the formation of a new Advisory Board and the five business executives who sit upon it, including LMP Advisory Council member Ron Cordes. This accomplished group will provide further oversight to Ecofin’s focus on sustainability and impact objectives. Read on for more details.
Jun 22,
2021

Portfolio Company Foreside Financial Group Acquires Hardin Compliance Consulting
06.22.21

Portfolio Company Foreside Financial Group Acquires Hardin Compliance Consulting

Portfolio company Foreside Financial Group, LLC announces the acquisition of the prominent compliance consulting firm, Hardin Compliance Consulting, LLC. This combination creates one of the largest compliance consulting firms for the financial services industry in the U.S. For more on the acquisition, check out the announcement here.
Jun 21,
2021

Managing Partner Bob Belke talks with Mergers & Acquisitions
06.21.21

Managing Partner Bob Belke talks with Mergers & Acquisitions

Managing Partner and investment committee chair Bob Belke tells Mergers & Acquisitions about the bright spots in the wealth management market, and opportunities to craft staying power in asset management.  Read here for the full article.
Jun 08,
2021

Portfolio Company Foreside Financial Group Acquires Golden Bear Consulting Group
06.08.21

Portfolio Company Foreside Financial Group Acquires Golden Bear Consulting Group

Portfolio company Foreside Financial Group, LLC announces the acquisition of the compliance consulting practice of Golden Bear Consulting Group, LLC, a boutique regulatory compliance consulting firm based in Newport Beach, California.  In its seventh acquisition since 2019, Foreside continues to expand its reach to hedge funds and private equity firms.  Read the details here.
May 27,
2021

Portfolio company FortisPay Doubles Down on Integrated Commerce Acquiring EpicPay and Change Merchant Solutions
05.27.21

Portfolio company FortisPay Doubles Down on Integrated Commerce Acquiring EpicPay and Change Merchant Solutions

Portfolio Company FortisPay announces two new acquisitions: EpicPay and Change Merchant Solutions. This strategic investment will enable a full suite of commerce experiences including PayFac capabilities, and engagement models for technology partners and merchants.  Please read here for the details.
May 13,
2021

Partner Spencer Hoffman recently spoke with FundFire about the fund administration market
05.13.21

Partner Spencer Hoffman recently spoke with FundFire about the fund administration market

Partner Spencer Hoffman recently spoke with FundFire about the fund administration market, including acquisition appetite fueled by demand for additional outsourced services. For more on his insights, check out the article here.
May 10,
2021

Portfolio company Foreside Financial Group recognized for "Best Compliance Technology" at the FWR Awards
05.10.21

Portfolio company Foreside Financial Group recognized for "Best Compliance Technology" at the FWR Awards

Portfolio company Foreside Financial Group, a leading provider of governance, risk management, and compliance consulting and technology solutions servicing the family office and family wealth management industry, is named ‘Best Compliance Technology’ for its suite of technology-based compliance solutions, at the 8th Family Wealth Report Awards.  Read the full story here!
May 04,
2021

Charles Taylor expands Adjusting business and grows presence in Europe’s property and casualty market
05.04.21

Charles Taylor expands Adjusting business and grows presence in Europe’s property and casualty market

Portfolio company Charles Taylor announces the growth of their European footprint with the acquisition of IES Insurance Engineering Services, a premier loss adjusting practice headquartered in Italy, with 92 staff across 18 offices. Read the full press release here.
Apr 30,
2021

Partner Brad Armstrong Discusses Deal Readiness on "Powering Independence Podcast"
04.30.21

Partner Brad Armstrong Discusses Deal Readiness on "Powering Independence Podcast"

Lovell Minnick Partner Brad Armstrong recently joined the latest “Powering Independence Podcast" series titled “Inside the Deal: Deal Readiness” alongside host Harris Baltch, Head of M&A and Capital Strategies at Dynasty Financial Partners.
 

In this episode, Brad, Harris, and other guests delve into the key criteria for M&A deal readiness, how to access the best COIs for originating high quality M&A opportunities, and more. Listen here.
Apr 21,
2021

Keeping Up with Lovell Minnick, April 2021
04.21.21

Keeping Up with Lovell Minnick, April 2021

Have you seen the latest edition of "Keeping Up With Lovell Minnick Partners?" Stay up to date and click here for a round-up of our latest news!
Apr 14,
2021

Charles Taylor Adjusting Grows U.S. Footprint
04.14.21

Charles Taylor Adjusting Grows U.S. Footprint

Portfolio company Charles Taylor acquires Syndicate Claim Services, Inc., an independent adjusting and claims services business, further expanding CT’s US footprint and ability to serve Property, Casualty and Specialty insurers in the US and globally. Click here to read the full press release. 
Apr 13,
2021

Foreside Launches Marketing Hub Aimed to Help RIAs Grow Their Business
04.13.21

Foreside Launches Marketing Hub Aimed to Help RIAs Grow Their Business

Portfolio company Foreside Financial Group, LLC launches RevBuilder360, a comprehensive turnkey platform designed to help RIAs elevate the firm's brand and value proposition.  Click here to read the full press release.
Mar 17,
2021

Lovell Minnick Partners Announces Majority Investment in UniversalCIS
03.17.21

Lovell Minnick Partners Announces Majority Investment in UniversalCIS

Lovell Minnick and UniversalCIS’ Management Will Collaborate to Leverage Investment for Strategic Growth and Continued Acquisition Strategy of the Business

PHILADELPHIA, LOS ANGELES, NEW YORK – MARCH 17, 2021 — Lovell Minnick Partners, LLC, a private equity firm focused on investments in financial services, financial technology and related business services, today announced it has acquired a majority stake in UniversalCIS (the “Company”), a market-leading, technology-enabled provider of credit data and related origination solutions in the mortgage industry. Moving forward, Lovell Minnick and UniversalCIS’ management team will work closely to leverage this investment to fuel continued growth of the Company and provide additional capital for future acquisitions. Financial terms of the transaction were not disclosed.

Headquartered outside of Philadelphia with four additional operations centers across the country, UniversalCIS provides a leading technology platform that offers credit data and origination solutions to over 4,000 clients in the North American mortgage market including banks, non-bank mortgage lenders, credit unions and mortgage brokers. The platform is integrated into approximately 60 loan origination systems and serves as the first interaction point for clients in the loan application process.

“We are thrilled to partner with UniversalCIS’ management team to further grow and scale its unique offerings,” said Jason Barg, Partner at Lovell Minnick. “The UniversalCIS team has built an incredible company that plays a critical role in the mortgage origination process and provides best-in-class technology and customer service in a seamless, centralized manner. We believe the Company has tremendous growth potential and is well-positioned to benefit from tailwinds driving increased technology adoption and M&A activity in the mortgage market.”

The Company rebranded to UniversalCIS in January 2021 following the 2020 combination of Universal Credit Services, CIS Credit Solutions and Avantus, three longstanding credit technology and solutions providers to the mortgage originations industry. UniversalCIS also acquired mortgage appraisal technology provider SharperLending to enhance the Company’s software offerings. SharperLending operates as an independent business unit as a wholly owned subsidiary of UniversalCIS.

“Lovell Minnick has a strong track record of supporting financial technology companies in the mortgage and lending industry as they scale their businesses, making them an ideal partner for us,” said Perry Steiner, Chairman of UniversalCIS. “We’re excited to embark on the next chapter of UniversalCIS’ success as we collaborate with Lovell Minnick to continue to broaden and enhance our technology offerings for new clients and markets.”

Jerry Haftmann, CEO of UniversalCIS, added, “The UniversalCIS team has always been laser-focused on creating unique, effective technology for the mortgage industry, and this partnership with Lovell Minnick underscores our commitment to continuing to develop best-in-class services for key stakeholders at a greater breadth and depth than ever before.”

Former Speaker of the House Paul Ryan and Former Secretary of the Navy John Dalton will continue to serve UniversalCIS, joining the Company’s board of directors. Steve Ozonian, an advisor to Lovell Minnick and industry veteran, will also join the board.

GCA Advisors served as exclusive financial advisor to UniversalCIS. Morgan, Lewis & Bockius served as legal counsel to Lovell Minnick, while McDonald Hopkins served as legal counsel to UniversalCIS.

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in financial services, financial technology and related business services. The firm partners with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since Lovell Minnick’s inception in 1999, it has become a leader in its chosen space, raising $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, Lovell Minnick has completed more than 50 portfolio company investments.

Lovell Minnick Partners seeks to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which the firm specializes include financial and insurance technology; payments; specialty finance; insurance brokerage and services; asset and wealth management; and related business services.

About UniversalCIS
UniversalCIS is a market leader in mortgage technology, credit reporting, and related products and solutions for mortgage originators. UniversalCIS has over 4,000 clients ranging from the largest bank and non-bank mortgage originators to credit unions and mortgage brokers. UniversalCIS prides itself on the best technology, solutions, and service in the industry. UniversalCIS was created through the merger of Universal Credit Services, CIS Credit Solutions, and Avantus. For more information, please visit: UniversalCIS.com
Mar 09,
2021

Foreside announces acquisition of the regulatory compliance business of JG Advisory Group, LLC
03.09.21

Foreside announces acquisition of the regulatory compliance business of JG Advisory Group, LLC

Foreside is growing and excited to announce the acquisition of the regulatory compliance business of JG Advisory Group, LLC, a comprehensive regulatory solutions provider for hedge funds and private equity funds.

“When assessing acquisitions, we consistently choose firms that are known for outstanding client service and industry expertise,” said David Whitaker, president of Foreside. “JG Advisory Services has helped sophisticated private equity and hedge fund firms develop into industry leaders, and we are proud to have them on board to build our expertise with emerging managers.”

Click here to read the full press release. 
Mar 08,
2021

From evolution to revolution: investors focus on benefits and health care - a byline from Brad Armstrong & Evan Sameroff
03.08.21

From evolution to revolution: investors focus on benefits and health care - a byline from Brad Armstrong & Evan Sameroff

Lovell Minnick’s Brad Armstrong and Evan Sameroff discuss increased investor focus in healthcare and employee benefits against the backdrop of consumerization and digitization in a bylined article for BenefitsPRO. Read more about their insights on patient-centric models and the importance of improved access, transparency and cost effectiveness for patients.
Mar 04,
2021

Portfolio company Foreside Financial announces they have surpassed the $160 Billion mark for ETF Assets Under Distribution
03.04.21

Portfolio company Foreside Financial announces they have surpassed the $160 Billion mark for ETF Assets Under Distribution

Portfolio company Foreside Finacial Group is proud to announce that they have surpassed the $160 Billion mark for ETF Assets Under Distribution through their comprehensive compliance and distribution platform!  Foreside has been working with ETF clients since 2005, supporting multiple fund and firm launches.  Click here to read more.
Mar 02,
2021

Pathstone welcomes the Cornerstone Capital Group, Growing Smart(ly) and expanding ESG efforts and impact investing
03.02.21

Pathstone welcomes the Cornerstone Capital Group, Growing Smart(ly) and expanding ESG efforts and impact investing

ENGLEWOOD, N.J. and NEW YORK, March 1, 2021 /PRNewswire/ — Pathstone, an independently operated, partner-owned advisory firm offering families, family offices, and select nonprofit institutions comprehensive family office services and customized investment advice, and Cornerstone Capital Group (“Cornerstone”), an SEC registered investment advisor whose mission is to help investors achieve targeted environmental and social impact goals without sacrificing investment performance, today jointly announced that Cornerstone joined Pathstone.

Cornerstone’s leadership and expertise in sustainable and impact investing will enhance Pathstone’s existing efforts in this increasingly important approach to portfolio construction. Cornerstone clients will benefit from Pathstone’s broad range of services and excellent technology platform. Culturally, the firms are well aligned: both firms were formed by veterans of large financial institutions who sought to bring innovative new ideas to market; both firms hold a fiduciary duty to clients as our foremost priority; both firms place a high value on employee diversity and well-being; both firms are deeply committed to integrating customized financial and impact objectives in every client’s portfolio.

“The depth and laser focus of Cornerstone, together with the scale and strength of Pathstone, now creates the preeminent Impact Investment Advisory platform in the field,” said Cornerstone’s Founder and CEO, Erika Karp. “With the mission of achieving a more regenerative and inclusive form of capitalism, we go from strength to strength.”

“Pathstone is extremely proud of our long history of leadership and innovation in Impact and ESG,” said Matthew Fleissig, President of Pathstone. “We believe that by empowering clients to amplify the impact of their investments and aligning their goals with their values, clients can enhance returns and foster positive impact. With Erika and her team set to lead and energize these efforts, Pathstone is set to further establish itself as a real thought leader in this critically important area.”

“Pathstone’s leadership in ESG and Impact was one of the factors that attracted me towards joining them as an independent board member,” said Mark Tibergien. “I am thrilled to see Erika and her team joining Pathstone. By combining the fantastic work these two great firms have been leading separately, the world of ESG and Impact investing gets a new, stronger advocate and champion.”

Erika Karp will serve as Pathstone’s Chief Impact Officer and join Pathstone’s Executive and Investment Committees. Other Cornerstone staff, including Chief Investment Officer Craig Metrick and Chief Impact Strategist Katherine Pease, will join the Pathstone team, contributing their significant experience, thought leadership, rigorous analysis, and dedicated client service. With this combination, Pathstone adds offices in Denver and Manhattan and now serves clients representing close to $25 billion in total advisory assets.

Morrison & Foerster served as legal counsel for Cornerstone. Nesvold Capital Partners advised Pathstone and Alston & Bird LLP served as legal counsel.

 
About Pathstone

Pathstone is an independently operated and partner-owned multigenerational family office that offers strategic wealth management and customized investment services to high-net-worth and ultra-high-net-worth individuals and families, family offices, and select institutions.

With decades of experience as trusted advisors, we employ an advocacy-focused model that empowers our clients to define and achieve their unique long-term goals and support their legacy. For more information, please visit www.pathstone.com.

Lovell Minnick Partners (LMP) is a strategic partner of Pathstone and provides ongoing guidance to support the firm’s continued growth.
 

About Cornerstone Capital Group

Founded in 2013, Cornerstone Capital Group is a financial services firm based in New York. The mission of the firm is to enable investors to achieve targeted impact goals without sacrificing investment performance. Cornerstone works with families and individuals, foundations and endowments, multifamily offices, and other registered investment advisors to develop and manage customized investment strategies to achieve bespoke financial and impact objectives.
Feb 19,
2021

Latest News: Keeping Up with Lovell Minnick Partners
02.19.21

Latest News: Keeping Up with Lovell Minnick Partners

Are you keeping up with Lovell Minnick Partners?  Click here to read our latest e-newsletter!
Feb 12,
2021

Pathstone wins 2021 PAM Award for ‘Best Multi-Family Office $20bn and Over’
02.12.21

Pathstone wins 2021 PAM Award for ‘Best Multi-Family Office $20bn and Over’

Portfolio company Pathstone was selected as the winner of the 2021 Private Asset Management Award for ‘Best Multi-Family Office $20bn and Over’.  Click this link to read more!
Feb 12,
2021

Foreside announces the launch of Connect+, their newly redesigned and enhanced client portal, providing streamlined access to their full array of technology solutions
02.12.21

Foreside announces the launch of Connect+, their newly redesigned and enhanced client portal, providing streamlined access to their full array of technology solutions

Foreside Financial Group, a provider of governance, risk management, and compliance service and technology offerings to clients in the global asset and wealth management industry, today announced that it has launched Connect+TM, a newly redesigned and upgraded version of its client portal. Click here to read more!
Jan 29,
2021

Inside Real Estate Launches Home Ownership Software Division
01.29.21

Inside Real Estate Launches Home Ownership Software Division

Lovell Minnick's portfolio company Inside Real Estate, a leading SaaS-based technology provider to the residential real estate brokerage industry, launches Home Ownership Software Division dedicated to empowering residential real estate brokerages and their agents to become the primary homeowner advisor across all stages of their customer’s home buying, selling and owning journey.  Read more here.
Jan 28,
2021

Lovell Minnick Plans Exit from 361 Capital
01.28.21

Lovell Minnick Plans Exit from 361 Capital

Lovell Minnick will be pursuing a planned exit from portfolio company 361 Capital, a Denver-based boutique alternative asset management firm, to capitalize on strategic opportunities in the marketplace with Hamilton Lane as the acquiring party. Read more here. 
Jan 27,
2021

Lovell Minnick's Jason Barg interviewed for Private Equity Wire’s 2021 Global Outlook Report
01.27.21

Lovell Minnick's Jason Barg interviewed for Private Equity Wire’s 2021 Global Outlook Report

Partner Jason Barg shared his insights with Private Equity Wire on our firm’s deal sourcing strategy in 2021, deep expertise in financial services and opportunities that result from our emphasis on relationship-building. Read more about his outlook for private equity investing in Private Equity Wire’s 2021 Global Outlook Report here.
Jan 26,
2021

Foreside Acquires Capital Markets Compliance
01.26.21

Foreside Acquires Capital Markets Compliance

PORTLAND, Maine – January 26, 2020 – Foreside Financial Group, LLC (“Foreside”), a provider of governance, risk management, and compliance service and technology offerings to clients in the global asset and wealth management industry, today announced that it plans to acquire Capital Markets Compliance (CMC), a leading compliance, consulting, and FINOP practice.

Founded in 1999 and based in Atlanta, CMC serves financial services firms that offer securities products through full-service brokerage operations, investment banking, and investment advisory services. With a comprehensive suite of services and technology solutions, Foreside will integrate CMC’s proprietary technology into its platforms. As part of the acquisition, CMC’s managing team of Karen Lopez Alvarez and Rick Alvarez, along with 13 employees, will join Foreside.

“We are proud to demonstrate our continued growth with the acquisition of CMC,” said David Whitaker, President of Foreside. “Their highly regarded and successful practice complements our FINOP, Broker-Dealer, and Investment Advisor consulting businesses, expands our accounting and financial support capabilities, and augments our existing tech solutions to provide a consistent quality of client service and industry expertise that we continue to enhance through these types of acquisitions.”

“We’ve been approached in the past with acquisition opportunities and were wanting to scale the business, but were striving to find the right fit, depth of expertise, and intrinsic knowledge of our industry,” said Karen Lopez Alvarez. “We feel we’ve found the perfect partner in Foreside whose customized service model and technology matches ours, and whose operational strength will help alleviate the day-to-day responsibilities and allow us to better focus on growing the business.”

For Foreside, which is majority-owned by PE firm Lovell Minnick, CMC is its fifth acquisition since 2019. Foreside previously acquired ICSGroup, a regulatory compliance services firm serving the asset management industry (November 2020); Quasar Distributors, U.S. Bancorp’s mutual fund and exchange-traded funds (“ETFs”) distribution business (March 2020); Compliance Advisory Services, a leading regional compliance firm (in October 2019); and NCS Regulatory Compliance, a comprehensive provider of outsourced compliance and regulatory services (January 2019).

Financial terms of the transaction were not disclosed.

About Capital Markets Compliance

Capital Markets Compliance® (CMC) specializes in providing regulatory guidance for financial service firms that offer securities products through full service brokerage operations, investment banking, and investment advisory services. CMC is known as a leader in compliance & accounting for financial service firms and a trusted advisor to the financial industry for more than 21 years. CMC provides an array of compliance and accounting service solutions designed to help improve business performance. CMC delivers a comprehensive suite of services based on their clients’ individual needs, which also includes assistance with regulatory membership applications, such as Broker-Dealer FINRA, SEC & MSRB and Investment Advisor State and SEC.

About Foreside Financial Group

Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion* of product through their 17 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.
Jan 25,
2021

Charles Taylor acquires remaining stake in Otak to take full ownership of the Tide insurance technology platform
01.25.21

Charles Taylor acquires remaining stake in Otak to take full ownership of the Tide insurance technology platform

Charles Taylor, the leading provider of services and technology solutions to the global insurance market, today announced that it has acquired the remaining minority stake in Otak, an insurance technology platform business specialising in delegated authority solutions.

With this acquisition, Charles Taylor moves to full ownership of Otak and its product Tide, from owning a controlling majority stake previously. Tide is cloud-based data streamlining solution that was developed by Charles Taylor and Otak. It automates the handling of delegated authority information to help the global insurance market reduce processing and compliance costs, improve data integrity and make data-driven decisions. It powers the Delegated Data Manager (DDM) solution, formally DA SATS, that Charles Taylor InsureTech continues to provide to the Lloyd’s market and to other clients.

“Technology-enabled solutions lie at the heart of Charles Taylor’s business.” said Arjun Ramdas, CEO Charles Taylor InsureTech. “We are always looking at ways we can help our clients solve complex problems through innovative solutions, and our acquisition of the remaining stake in Otak, and full ownership of Tide enables us to offer greater responsiveness and flexibility to clients in this space.” he added.

Click here to learn more about Charles Taylor.
Jan 22,
2021

Lovell Minnick's Spencer Hoffman spoke with Investment News on opportunities in the fintech and regtech space
01.22.21

Lovell Minnick's Spencer Hoffman spoke with Investment News on opportunities in the fintech and regtech space

Lovell Minnick's Spencer Hoffman spoke with Investment News on opportunities in the fintech and regtech space amidst heightened regulation for wealth management firms. Read more here about his viewpoints for fintech and data security expansion this year.
Jan 07,
2021

LMP Portfolio Company FortisPay acquires Swype to Expand North America B2B Services
01.07.21

LMP Portfolio Company FortisPay acquires Swype to Expand North America B2B Services

FortisPay was covered in PaymentsSource on its acquisition of technology integrator Swype at Work and strategic partnership of Net at Work Inc., further expanding its B2B e-commerce offerings in North America. Click to read the full article.
Jan 06,
2021

Lovell Minnick's Jason Barg spoke with S&P Global about investment opportunities amidst a predicted economic recovery
01.06.21

Lovell Minnick's Jason Barg spoke with S&P Global about investment opportunities amidst a predicted economic recovery

Lovell Minnick's Jason Barg spoke with S&P Global about investment opportunities in the private equity space amidst a predicted economic recovery. Click here to read more about his outlook for dealmaking activity in the year ahead.
Jan 05,
2021

Charles Taylor Expands U.S. TPA and Insurance Management Services Through Acquisition of Aegis Corporation
01.05.21

Charles Taylor Expands U.S. TPA and Insurance Management Services Through Acquisition of Aegis Corporation

Lovell Minnick is pleased to announce that Charles Taylor, a provider of services and technology solutions to the global insurance market, announced today that it has acquired Aegis Corporation (Aegis), a Wisconsin based leader in mutual management and third-party claims administration.  Read here for more details!
Jan 05,
2021

Spencer Hoffman interviewed for the Wall Street Journal Pro Private Equity
01.05.21

Spencer Hoffman interviewed for the Wall Street Journal Pro Private Equity

Lovell Minnick's Spencer Hoffman spoke with The Wall Street Journal about opportunities in the private equity space, including the favorable environment for add-on acquisitions that led to over 20 add-on deals across our portfolio in 2020. Read more here.
Dec 21,
2020

LMP portfolio company 361 Capital is named to “Best Places to Work in Money Management” Award in Pensions & Investments
12.21.20

LMP portfolio company 361 Capital is named to “Best Places to Work in Money Management” Award in Pensions & Investments

For the fifth consecutive year, LMP portfolio company 361 Capital is named to Pensions & Investments' “Best Places to Work in Money Management” Award! Read more here.
Dec 18,
2020

Engage People Experiences Year-Over-Year Growth of More Than 30% in 2020
12.18.20

Engage People Experiences Year-Over-Year Growth of More Than 30% in 2020

Engage People experiences tremendous growth in 2020 as the demand for 'Pay with Points' continues. Read here for more details on the company's accomplishments.
Dec 16,
2020

Lovell Minnick Appoints Edward Creasy and Valerie Soranno Keating to Advisory Council
12.16.20

Lovell Minnick Appoints Edward Creasy and Valerie Soranno Keating to Advisory Council

Edward Creasy represents Lovell Minnick’s first Council member based in the U.K.

Valerie Soranno Keating further enhances Lovell Minnick’s commitment to the payments and financial technology sectors

PHILADELPHIA, LOS ANGELES and NEW YORK – December 16, 2020 – Lovell Minnick Partners (‘LMP’), a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced the appointments of Edward Creasy and Valerie (Val) Soranno Keating to the firm’s Advisory Council. Both Mr. Creasy and Ms. Keating currently serve as Chairs to LMP portfolio companies.

“Lovell Minnick is intensely focused on working closely with our portfolio companies and providing them with the resources that will position them for long-term, sustainable success,” said Steve Pierson, Managing Partner at Lovell Minnick Partners. “Our Advisory Council offers valuable guidance and unparalleled expertise to our portfolio company management teams as they navigate the constantly evolving business landscape.”

Edward Creasy is the Chairman of Charles Taylor, a LMP portfolio company and a provider of professional services and technology solutions to the global insurance market. Mr. Creasy represents Lovell Minnick’s first UK-based appointment to the Advisory Council. He has over 40 years of experience in the global non-life insurance industry, focused on the London international insurance marketplace and Lloyd's of London. Mr. Creasy previously held roles as Chief Executive and Chairman of the Kiln Group, was a founder director of the Lloyd's Franchise Board and has been a Lloyd's regulatory committee member. Throughout his career, Mr. Creasy has held roles as an insurance broker, underwriter and manager of several businesses with expertise in business development, strategic management, investment management and M&A.

Val Soranno Keating is the Executive Chairwoman of Engage People, a LMP portfolio company and a technology-driven alternative payments platform servicing the global loyalty and incentive industry. Ms. Keating has over 30 years of experience across multiple industry segments including financial services, consumer, B2B and digital industries. She most recently served as the CEO of Barclaycard for six years, overseeing a global portfolio of $60B in assets with over 30 million customers and 11,000 employees worldwide. Prior to Barclaycard, Ms. Keating spent 16 years at American Express where she was a member of the Global Management Committee and led multiple business units.

“Edward and Val bring years of experience in their respective fields to Lovell Minnick and intimately understand our sector focus and portfolio companies,” said Spencer Hoffman, Partner at Lovell Minnick Partners. “Edward’s background in insurance, particularly in the London marketplace, will position us well to strengthen our presence in the European market, while Val’s expertise as a global CEO will support our work in the in the payments and financial technology sectors as we seek new, favorable opportunities in these areas.”

LMP’s Advisory Council members are independent contractors that serve as advisors to Lovell Minnick as well as to the firm’s portfolio companies.
Dec 14,
2020

Steve Pierson recently spoke with Bloomberg about the uptick in add-on deals during 2020
12.14.20

Steve Pierson recently spoke with Bloomberg about the uptick in add-on deals during 2020

Managing Partner Steve Pierson recently spoke with Bloomberg about the uptick in add-on deals during 2020, which made up 51% of global buyouts in Q3 according to @PitchBook. Read more about the strategy and why it’s been so popular during this uncertain year here.
Dec 09,
2020

Lovell Minnick Partners’ Trevor Rich spoke with PaymentsSource about increased opportunities
12.09.20

Lovell Minnick Partners’ Trevor Rich spoke with PaymentsSource about increased opportunities

Lovell Minnick Partners’ Trevor Rich spoke with PaymentsSource about increased opportunities for venture capital and private equity firms in today’s shifting payments landscape and recent portfolio company activity, including Billhighway and FortisPay in the sector. Read more here.
Dec 09,
2020

Partner Spencer Hoffman spoke with FundFire on the private fund manager industry
12.09.20

Partner Spencer Hoffman spoke with FundFire on the private fund manager industry

Lovell Minnick Partners’ Spencer Hoffman spoke with FundFire on the emerging co-sourcing model reshaping the private fund manager industry. Read the article here.
Dec 03,
2020

Engage People Named in ‘Now Tech: Loyalty Marketing, Q4 2020’ Report by Independent Research Firm
12.03.20

Engage People Named in ‘Now Tech: Loyalty Marketing, Q4 2020’ Report by Independent Research Firm

Recent analysis names Engage People among loyalty technology platforms service providers

TORONTO, December 3, 2020 - Engage People, a global technology provider that redefines the way customers spend loyalty reward points, today announced its inclusion in Forrester’s “Now Tech: Loyalty Marketing, Q4 2020” report. The company is listed as a midsize provider in the loyalty technology platforms functionality segment, which Forrester defines as “vendors that offer the technology platforms companies need to identify and track customers and to power loyalty programs and campaigns”.

This report from Forrester, one of the most influential research and advisory firms in the world, offers insight into the diverse set of vendors that exist in the loyalty space, organized by size, functionality, geography and vertical market focus. It emphasizes the value of using loyalty marketing to develop loyalty strategies, design and manage loyalty programs and measure loyalty marketing efforts.

“Engage remains committed to building loyalty solutions that drive an emotional connection between consumers and brands,” said Jonathan Silver, CEO at Engage People. "We're proud to have been recognized by Forrester and see it as further validation of the work we’re doing in the loyalty space, as we continue building technology that puts purchasing power back in the hands of consumers.”
Engage People stands out as a provider that powers the ability for loyalty program members to pay with points during the online check-out process just as they would pay via a credit or debit card. The technology company is able to provide this capability by leveraging an innovative set of APIs to create a network that links financial institutions and retailers with loyalty customers.

Engage People currently partners with 4 of the 6 largest banks in Canada, as well as companies like Priceline and Best Buy. To learn more about Engage People and these findings, visit www.engagepeople.com. Access to the full “Now Tech: Loyalty Marketing, Q4 2020” report is available to Forrester subscribers or for purchase here.

About Engage People
Engage People is a global technology provider that redefines the way customers spend loyalty reward points. Serving as the conduit between banks, retailers and their customers, Engage People allows consumers to make everyday purchases with loyalty points, giving them the flexibility to buy what they want – whenever they choose. By offering pay with points, Engage People unlocks loyalty points that have been accumulated but not spent. Top banks and retailers around the world rely on Engage People for its first-of-its-kind loyalty ecosystem. With headquarters in Toronto, Ontario, Canada and offices in the U.S., Canada and Italy, Engage People has been ranked on Canada’s Fastest-Growing Companies list by Canadian Business and PROFIT. For more information visit: www.engagepeople.com.
Dec 01,
2020

Keeping Up with Lovell Minnick, December 2020
12.01.20

Keeping Up with Lovell Minnick, December 2020

Are you "Keeping Up with Lovell Minnick?" Several of our partners are in the news - catch up on our latest here with Steve Pierson, Brad Armstrong and Jason Barg.
Nov 20,
2020

Vikas Shah Joins LSQ as Supply Chain Finance Executive Leader
11.20.20

Vikas Shah Joins LSQ as Supply Chain Finance Executive Leader

ORLANDO, Fla., Nov. 19, 2020 -- LSQ, the largest independent provider of invoice financing in the U.S., today announced the addition of Vikas Shah to the team. He joins LSQ as executive vice president, supply chain finance, leading the development of the company's supply chain finance platform, LSQ FastTrack.

In this role, Shah is responsible for the go-to-market strategy and execution for LSQ FastTrack. He will lead the execution of the supply chain finance platform strategy, including sales, business development and marketing, as well as establishing key networks with partners, suppliers, and buyers. Shah brings more than 15 years' experience in the procurement and supply chain space to this position. He joins LSQ from Xeeva, Inc., where he led product management, business development, and several growth initiatives. Prior to that, Shah led platform partnerships, channels, and new market entry at Taulia, a firm that specializes in working capital optimization and supply chain financing.

"We are thrilled to have Vikas Shah join the LSQ team," said Dan Ambrico, CEO of LSQ. "We have taken LSQ's deep experience in the invoice financing space to develop a user-friendly supply chain finance platform that offers the flexibility and transparency currently missing from the market. Under Vikas' leadership, we will focus on further growing our presence in the market and building important new relationships with both buyers and suppliers of all sizes."

LSQ FastTrack gives buyers the means to both optimize their working capital and provide their suppliers with on-demand funding of invoices. It is the first supply chain finance platform built to serve not just the very largest buyers and suppliers but also smaller companies. With a heavy focus on product functionality, data science, and user experience, the platform makes it easier and more seamless for corporations to access working capital liquidity that is much needed, especially given the global economic climate. Unlike other platforms, LSQ FastTrack is built to immediately deliver funds, often in as little as one day.

"I'm thrilled to be part of LSQ's mission and team," says Shah. "Most vendors don't have the expertise to do credit risk, performance, and fraud assessment at scale. That's what is most obviously missing today in the industry. LSQ is uniquely positioned to address this by leveraging its proprietary models and years of transactional history, having helped thousands of companies by delivering over $25 billion in early payments".

Shah is based in San Francisco Bay, California. To learn more about LSQ FastTrack, please visit: www.lsq.com.

About LSQ
LSQ helps businesses better manage their cash flow to make the most of whatever they've earned. Offering invoice financing and LSQ FastTrack, a technology-based supply chain finance solution, LSQ provides clients with a simple, secure, and honest funding experience. LSQ blends human insights with the analytical power of technology to develop products that give customers the means to accelerate the flow of business. LSQ, headquartered in Orlando, Florida, has helped 1,000s of companies access $25 billion in its 20+ years in business. Learn more about our solutions at www.lsq.com.
Nov 19,
2020

Billhighway Acquires Impexium to Offer More Options to Member-Based Organizations
11.19.20

Billhighway Acquires Impexium to Offer More Options to Member-Based Organizations

Impexium Joins Forces with Billhighway to Super-Charge Member Experiences and Increase Association ROI through Focus on Innovation, Growth, and Solution Options That Put the Customer First

TROY, Mich., Nov. 19: Billhighway, the leading financial and performance management solution for member-based organizations, has acquired Impexium, an association management solution, as part of a strategy to expand solution offerings and better serve the Association market. For more than twenty years, Billhighway has been focused on providing financial management solutions for component-based organizations. Joining forces allows Billhighway and Impexium to better serve customer needs, develop innovative product solutions, and expand capabilities to additional market segments.

“Impexium is an extraordinary company, with an amazing product, experienced team, and an incredibly passionate user community. We look forward to working together to bring new and impactful solutions to the market. At our core, we’re focused on building community and delivering transformative solutions that help our customers make an impact for their membership. This is an opportunity for us to continue to bring that vision to fruition and further the good work of member-based organizations,” said Billhighway CEO, Tom Bomberski.

The acquisition allows Billhighway to expand on their current AMS integration strategy to bring new solutions to market for component-based associations. These integrations with the Billhighway platform allow associations to increase the performance of their components to better serve members and increase revenue, while simultaneously increasing visibility into that performance across their entire component ecosystem. Billhighway and Impexium currently have an existing integration that is serving component-based associations. There are plans to enhance this integration in 2021 to deliver even more value for joint Impexium/Billhighway clients.

“Today marks the beginning of an exciting new chapter for Impexium, one where we will be able to accelerate our mission and help more associations diversify revenue streams, enhance member engagement strategies and accelerate the ROI of their technology investments,” said Barry Malek, Founder and CEO of Impexium. “We are thrilled to embark on this journey with Billhighway and deliver more value to customers faster with a broader and deeper membership-management platform, that includes even more powerful financial capabilities.”

While Billhighway focuses on delivering association performance solutions to component-based organizations to better serve members and increase the ROI of their components, Impexium will continue to serve member-based organizations regardless of whether they have geographical components or not.

There are certain segments of our markets that need better solutions and more options to support their operations,” said Marc Hehl, Vice President of Growth and Operations for Billhighway.

“This partnership is just one element of Billhighway’s best-of-breed strategy. We continue to be committed to all of our great AMS and member management partners equally and without preference – it will always be about what options and solutions are best for the customer, and there are many great AMS solutions, all offering various strengths and capabilities.”

About Billhighway
Got Chapters? For over 20 years Billhighway has provided component-based organizations the tools to increase component performance and ROI while creating data visibility across your entire organization. This empowers you and your components to better serve members and grow your organization.

About Impexium
Smarter, Simpler Membership Management: Impexium’s 100% cloud-based membership management platform supports the full range of association business and administrative activities. By combining enterprise-level functionality with the benefits of a software-as-a-service model, we help associations transform their business by serving members more intelligently and profitably, strengthening the alignment of strategies and operations, creating value for key relationships, and reducing the cost, time, and risks of chapter, membership, and technology initiatives.
Nov 16,
2020

Engage People's Len Covello interviewed for "Are Digital Assets the New Way to Pay?" in The FinTech Times
11.16.20

Engage People's Len Covello interviewed for "Are Digital Assets the New Way to Pay?" in The FinTech Times

LenCovello, CTO of Lovell Minnick portfolio company Engage People, spoke with The FinTechTimes about the platform’s full suite of technologies spanning beyond traditional redemption and driving loyalty and engagement for customers. Read more about Engage People’s solutions for financial institutions and retailers as well as its focus on “pay with points” and extended payments here.
Nov 02,
2020

Foreside Financial Group announces its 4th acquisition since 2019
11.02.20

Foreside Financial Group announces its 4th acquisition since 2019

Foreside Financial Group, LLC announces its 4th acquisition since 2019, welcoming the regulatory compliance business of Integrated Compliance Solutions Group (ICSGroup).  Read the details here. 
Nov 02,
2020

Charles Taylor announces agreement to acquire Cosulich Marine Consultants Group
11.02.20

Charles Taylor announces agreement to acquire Cosulich Marine Consultants Group

Charles Taylor expands its global Marine Technical Services with agreement to acquire the Cosulich Marine Consultants Group. Please read here for the full press release.
Oct 21,
2020

Brad Armstrong interviewed along with Matt Fleissig of Pathstone for WealthManagement.com
10.21.20

Brad Armstrong interviewed along with Matt Fleissig of Pathstone for WealthManagement.com

Brad Armstrong, along with Matthew Fleissig of Pathstone, spoke with WealthManagement.com about how the family office has grown since our initial investment in December 2019. Read more here.
Oct 19,
2020

Bloomberg interviews Steve Pierson about our add-on strategy during a pandemic
10.19.20

Bloomberg interviews Steve Pierson about our add-on strategy during a pandemic

Managing Partner Steve Pierson recently spoke with Bloomberg about Lovell Minnick’s add-on strategy amid the pandemic slowing traditional buyouts. Read more about the firm’s activity here.
Oct 16,
2020

Jason Barg interviewed for Private Equity Wire about LMP's bolt-on deal activity
10.16.20

Jason Barg interviewed for Private Equity Wire about LMP's bolt-on deal activity

Jason Barg spoke with Private Equity Wire about our firm’s bolt-on deal activity in 2020 and why the strategy has proven resilient during a year of uncertainty. Read more here.
Oct 08,
2020

Foreside Launches New Technology Solutions for Registered Investment Advisors, Broker Dealers, and Asset Managers
10.08.20

Foreside Launches New Technology Solutions for Registered Investment Advisors, Broker Dealers, and Asset Managers

Products address Code of Ethics and personal account monitoring, best execution, education and training, advertising reviews, and cybersecurity

PORTLAND, Maine – October 8, 2020 – Foreside Financial Group, a global provider of regulatory and compliance service and technology offerings for firms in the global asset and wealth management industry, is introducing a robust collection of technology-based compliance solutions, all accessible via an expanded client portal. Each new solution is designed to streamline compliance and create efficiencies by employing the latest technology available to meet the unique needs of its individual clients.

Foreside is launching several solutions that will improve the compliance function in vital areas such as personal account monitoring, best execution review, delivery of education and training to staff, advertising and marketing review, and cybersecurity. Select solutions are capable of integrating with an advisor’s current portfolio management platform.

“We pride ourselves in learning our clients’ businesses inside and out to create a truly personalized experience and customized compliance solution,” said David Whitaker, President at Foreside. “We are excited to be able to enhance our consulting relationships by providing our clients with access to state of the art technology designed to integrate back office systems, improve the compliance function, and ultimately streamline compliance, making it more cost effective. These new solutions will help Foreside better address our clients’ needs in a variety of areas, while maintaining the high-touch approach that is the hallmark of Foreside’s consulting practice.”

Foreside’s expanded technology suite includes:

Personal Account Monitoring/Code of Ethics Solution

Designed to save investment advisors and broker dealers time and effort and increase accuracy and timeliness of reporting, this solution enables the electronic capture of employee trades and holdings, and automates the various checks needed to maintain compliance. Employees access the web-based solution to review and verify personal trade activity, request pre-clearance approval, and perform reporting functions as required by the firm. This solution also reviews employee trade activity to identify conflicts of interest with a firm’s client trading activity.

Best Execution Solution

• This solution delivers automated reporting and analysis of a firm’s trade execution. Firms receive quarterly reporting, including an executive summary customized to the advisor’s specific trading activity, as well as secure, online access to detailed, trade-by-trade analysis of execution received from brokers, including the ability to compare against other brokers, review market impact, and more.

Compliance Training & Educational Courses

• Foreside provides comprehensive access to online courses that firms can rely upon to train and educate employees on important compliance matters and themes, as well as meet a broker dealer’s firm element requirements. Firms are provided a comprehensive and tailored list of online courses, which can be accessed by employees at a time that is most convenient for them With decades of compliance experience, Foreside will continue to expand course offerings, including soon to be released CCO training courses.

AdCompliance for an expanding client base

• Foreside AdCompliance® is now being introduced to Foreside’s investment advisor and broker-dealer clients. This proprietary internet-based solution facilitates marketing material review for investment advisors and broker-dealers. Foreside AdCompliance® is designed to meet different users’ needs – whether that be the marketing department, compliance department or management teams. The web-based software provides real-time workflow management over the review cycle, with full transparency.

Cybersecurity Solutions

• Foreside’s cybersecurity solution offers cost-effective, regulatorily tuned, cybersecurity consulting and managed security services specifically designed to meet the needs of Foreside’s investment advisor, broker dealer and asset manager clients. These cybersecurity solutions provide tailor-made cybersecurity consulting programs, managed detection and response (MDR), penetration tests, and more, enabling Foreside clients to be proactive with cyber risk management.

About Foreside Financial Group

Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion* of product through their 21 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.
Oct 05,
2020

Jason Barg interviewed for Digital Insurance
10.05.20

Jason Barg interviewed for Digital Insurance

Jason Barg discusses the role that investors can play in helping the insurance industry thrive and embrace digital transformation post-pandemic in a byline for Digital Insurance.  Read the full article here.
Sep 23,
2020

Canada’s largest real estate company, Royal LePage, partners with Inside Real Estate to deliver powerful new tech ecosystem
09.23.20

Canada’s largest real estate company, Royal LePage, partners with Inside Real Estate to deliver powerful new tech ecosystem

The rlpSPHERE platform, powered by kvCORE from Inside Real Estate, provides the franchise network’s 18,000+ agents with the most state-of-the-art productivity tools to supercharge their business

DRAPER, UTAH  SEPTEMBER 23, 2020

Royal LePage, the largest real estate company in Canada, has partnered with Inside Real Estate to provide a powerful new technology platform to their 18,000+ agents spanning 600+ locations across Canada. The rlpSPHERE platform, powered by kvCORE, provides a fully integrated, state-of-the-art tech ecosystem enabling Royal LePage brokers, agents and teams to manage and grow their business from one single platform.

rlpSPHERE, an enterprise deployment of the highly sought after kvCORE Platform, includes extensive customization and Canadianization, creating a powerful all-in-one solution uniquely tailored to the needs of the Royal LePage network. Known for its robust lead generation, fully integrated brokerage platform & intelligent automation capabilities, the kvCORE Platform is deeply integrated into Royal LePage’s internal systems providing a seamless experience for brokers, agents and teams to run every aspect of their business.

“Royal LePage is known as Canada’s tech-forward real estate company,” said Carolyn Cheng, COO, Royal LePage. “The launch of rlpSPHERE provides our network with the most modern, data-driven real estate productivity tools available, giving our brokers, agents and teams a substantial competitive advantage to grow and manage their businesses in today’s high-tech world. Through our partnership with Inside Real Estate, we’re creating a digital ecosystem that positions us well today and will also grow with us in a rapidly changing environment in the future.”

rlpSPHERE, which began rolling out to Royal LePage’s network this spring, includes cutting edge productivity tools in a bilingual, mobile ready environment. Standout features include:

  • Fully customizable brokerage, team and agent websites with the latest consumer search options including polygon map search, search by school catchment area, filtering by lifestyle data, search by travel time as well as recommended listings based on your search criteria.
  • A robust lead gen engine featuring unlimited custom landing pages and IDX squeeze pages as well as built-in paid Google and Facebook advertising options via an integrated Marketplace.
  • Intelligent, customizable lead routing and accountability options at the brokerage and team levels to optimize lead conversion.
  • A smart, AI-powered CRM and app with dynamic lead follow up and automated nurturing campaigns to engage more leads and sphere of influence contacts.
  • Integrated and branded digital, print and social media marketing templates and options.
  • Flexible, customization options at the brand, brokerage, agent and team levels including lead routing, smart numbers, listing marketing, etc.
  • The rlpSPHERE platform also empowers Royal LePage’s top teams with a robust sub-account structure allowing them to operate with full flexibility. The CORE Team Add-On accounts are uniquely suited to top teams providing custom website branding opportunities, full database ownership and privacy, independent lead routing and more.

“We’re honored to be the long-term technology partner powering Canada’s leading real estate brand,” said Joe Skousen, President of Inside Real Estate. “Working with the talented and forward-thinking leadership team at Royal LePage to successfully customize our kvCORE platform has been incredibly rewarding. It’s provided us another great opportunity to demonstrate not only the robust capabilities but also the flexibility of our platform. We’re thrilled to see the successful launch of rlpSPHERE to Royal LePage brokers, teams and agents and to see the results it’s having on their business first hand.”
Sep 18,
2020

Charles Taylor Expands U.S. Engineering and Technical Services Practice with the Acquisition of SBSA, Inc.
09.18.20

Charles Taylor Expands U.S. Engineering and Technical Services Practice with the Acquisition of SBSA, Inc.

18 September 2020  Charles Taylor, a provider of services and technology solutions to the global insurance market, announced today that it has acquired SBSA, Inc. (Solutions Before, Solutions After), a full-service engineering and architectural firm. Headquartered in Golden, Colorado, SBSA is licensed throughout the United States.

“The addition of SBSA significantly expands and strengthens Charles Taylor’s engineering capabilities in the U.S.,” said Rob Brown, Group CEO, Charles Taylor. “This acquisition aligns with our Group-wide strategy to grow the range of services we offer and to strengthen our technology and capabilities, so that we can do more for our existing clients and reach a broader client base. SBSA allows us to provide high-quality broad-based engineering and technical support to our clients, from design, testing, and repairs, to forensic investigations and litigation support.”

SBSA delivers a wide range of expertise, including architectural, civil, and structural engineering, construction management, building envelope repair, performance testing, forensic analyses, and litigation support. The firm works primarily with clients in the construction, legal and insurance sectors, specializing in forensic engineering, construction management, new and re-design of properties.

Vince Cole, CEO, CT Adjusting and Technical Services U.S., said, “SBSA engineers are recognized experts and provide us with the expanded engineering support that we believe will enrich our client offering and service.” He further added, “For insurance clients who work with Charles Taylor Adjusting, SBSA will offer the consistency and efficiency of a one-stop shop, with the independence of a separate forensic engineering business.”

SBSA joins the Charles Taylor team of more than 3,000 professionals around the world. SBSA’s clients will have access to Charles Taylor’s full suite of global claims management, technical services, and technology solutions.

“Joining Charles Taylor provides our clients with access to a multitude of additional resources, in addition to decades of technical experience from industry experts whose skills complement our existing capabilities,” said Edward Fronapfel, P.E., Owner of SBSA. “We believe Charles Taylor’s commitment to high quality and growth in the U.S. will greatly benefit our clients and allow us to better serve their needs.”

About Charles Taylor
Charles Taylor is a global provider of professional services and technology solutions dedicated to enabling the global insurance market to do its business fundamentally better. Dating back to 1884, Charles Taylor now employs over 3,000 staff in more than 120 locations spread across 30 countries in Europe, the Americas, Asia Pacific, the Middle East and Africa.

Charles Taylor believes that it holds a distinctive position in its markets in that it can provide professional services and technology solutions in order to support every stage of the insurance lifecycle and every aspect of the insurance operating model. Charles Taylor serves a diversified blue-chip international customer base that includes national and international insurance companies, mutuals, captives, MGAs, Lloyd's syndicates and reinsurers, along with brokers, distributors and corporate insureds.
Sep 15,
2020

Engage People Works with Best Buy to Allow Loyalty Members to Pay with Points for Consumer Electronics
09.15.20

Engage People Works with Best Buy to Allow Loyalty Members to Pay with Points for Consumer Electronics

Relationship extends Best Buy's products to loyalty program members that are looking for more personalized spending options

TORONTO, ON / September 15, 2020 / Engage People, a global technology provider that redefines the way customers spend loyalty reward points, today announced that it is working with Best Buy, a multinational consumer electronics retailer, to give participating loyalty program members the option to purchase Best Buy products with points. As a result of this partnership, loyalty program members will be able to browse Best Buy's catalog, which consists of over 80,000 products, through Engage People's Podium platform.

Podium gives financial institutions (FIs) the ability to offer more products to loyalty program members so they can pay with points for the items they want or need. The addition of Best Buy's catalog comes at a time when consumers are increasingly demanding more choice from their loyalty programs, as outlined by Engage People's recent loyalty program customer survey. The findings revealed that 72% of customers actively engage in loyalty programs because of the available redemption options.

"Our aim is to provide both FIs and retailers with innovative solutions that help them engage with their customers in meaningful ways," said Len Covello, CTO of Engage People. "Increasingly, consumers are looking for more personalization in how they spend their loyalty points, whether having the flexibility to pay with points just as easily as credit or debit, or being able to redeem their points for items from their favorite brands. We're excited to add Best Buy's products into the mix to deliver more choices to our loyalty program members."

Earlier this year, Engage People also partnered with Priceline to give loyalty program members the option to use their points to pay for the entire breadth of Priceline's offerings, including flights, car rentals and hotels. To find out more about Engage People and its suite of award-winning technology offerings, visit www.engagepeople.com.

About Engage People

Engage People is a global technology provider that redefines the way customers spend loyalty reward points. Serving as the conduit between banks, retailers and their customers, Engage People allows consumers to make everyday purchases with loyalty points, giving them the flexibility to buy what they want - whenever they choose. By offering pay with points, Engage People unlocks loyalty points that have been accumulated but not spent. Top banks and retailers around the world rely on Engage People for its first-of-its-kind loyalty ecosystem. With headquarters in Toronto, Ontario, Canada and offices in the U.S., Canada and Italy, Engage People has been ranked on Canada's Fastest-Growing Companies list by Canadian Business and PROFIT. For more information visit: www.engagepeople.com
Sep 10,
2020

Pathstone Announces the Addition of Price Wealth, LLC
09.10.20

Pathstone Announces the Addition of Price Wealth, LLC

Growing Smart(ly) in a Way That Matters

Englewood, NJ—September 10, 2020—Pathstone, an independently operated and partner owned multi-generational family office serving HNW and UHNW individuals and families, family offices, and select institutions, announced today that they will be acquiring Price Wealth, LLC. Founded in 2004, Price Wealth, LLC, is an independent wealth advisor serving UHNW individuals and families in Austin, TX.

“We are thrilled to welcome the employees, partners, and clients of Price Wealth to Pathstone,” said Matt Fleissig, President of Pathstone. “Price Wealth’s service model, culture, and clients aligned perfectly with Pathstone’s mission and core values.”

“My partner, Susan Wittliff, and I believe this combination is in the best interests of both our clients and our employees. For clients, Pathstone offers cutting-edge technology, additional options for our investment program, and even more robust family office services for our clients,” said Eric Price, Founder and Chief Investment Officer of Price Wealth. “We believe this combination will help us honor our pledge to oversee our clients’ financial affairs for many generations to come. For our employees, Pathstone provides additional opportunities for growth and greatly enhances our ability to attract and retain talent.”

“We are incredibly excited for Eric and his team to be joining the Pathstone family,” said Kelly Maregni, Executive Managing Director and Chief Advisory Officer of Pathstone. “Service is core to our business. Their commitment to building and strengthening their client relationships is one we embrace at Pathstone, and it felt like a natural fit to join forces.”

“We have always admired Pathstone’s vision and industry leading innovation, and we are proud to support the addition of the Price Wealth partners and clients to the firm,” said Brad Armstrong, Partner of Lovell Minnick Partners and Board Member of Pathstone. “Pathstone has always demonstrated great intention and focus in selecting its partners, and the combination with Price is another great example of how responsible growth can help support the multi-generational promise Pathstone holds dear.”

With the addition of Price Wealth, LLC, Pathstone will have 10 offices serving clients representing approximately $22 Billion in total advisory assets.

Price Wealth, LLC was advised by the banking team of Colchester Partners throughout the course of this undertaking with Queen Saenz + Schutz serving as legal counsel. Alston & Bird LLP served as legal counsel to Pathstone.

About Pathstone:
Pathstone is an independently operated and partner owned multigenerational family office that offers strategic wealth management and customized investment services to high-net-worth and ultra-high-net worth individuals and families, family offices, and select institutions.
With decades of experience as trusted advisors, we employ an advocacy-focused model that empowers our clients to define and achieve their unique long-term goals and support their legacy. For more information, please visit: www.pathstone.com.

About Price Wealth LLC:
Price Wealth is an independent wealth manager based in Austin, Texas. We provide unbiased and objective financial advice to high-net-worth and ultra-high-net worth individuals, families and private foundations. Alignment of interests is core to all of ouour relationships, and we make every decision a client-first decision. For more information, please visit: www.pricewealth.com.
Sep 09,
2020

Trevor Rich and Len Covello, CTO of Engage People, quoted in PaymentsSource
09.09.20

Trevor Rich and Len Covello, CTO of Engage People, quoted in PaymentsSource

Trevor Rich and Len Covello, CTO at Engage People Inc., discuss points-as-currency with PaymentsSource.
Aug 27,
2020

Pathstone Welcomes Mark Tibergien as Newest Independent Board Member
08.27.20

Pathstone Welcomes Mark Tibergien as Newest Independent Board Member

Further Elevating Pathstone’s Mission and Vision as The Modern Family Office

Englewood, NJ—August 26, 2020—Pathstone, an independently operated and partner-owned multi-generational family office serving HNW and UHNW individuals and families, family offices, and select institutions, is thrilled to announce that industry leader Mark Tibergien will be their newest Board member. Mr. Tibergien joins Ron Cordes of the Cordes Foundation as an independent Board member.

Mr. Tibergien recently served as CEO of Pershing Advisor Solutions LLC, an affiliate of Pershing LLC and a division of BNY Mellon. He is a nationally recognized expert on management, strategy, and transition issues within the financial services industry. Having started his career as a journalist, he eventually shifted into senior executive roles with a variety of firms. He led the merger of Management Advisory Services into Moss Adams LLP; the growth of Moss Adams into the leading authority on practice management for RIAs and Broker/Dealers; the positioning of Pershing LLC to become one of the top three custody providers to RIAs and Family Offices in the United States; and authored four books on valuation and management of advisory firms, published by Bloomberg Press/Wiley & Sons.

"We are incredibly excited and honored for Mark to be joining our Board," said Allan Zachariah, Co-CEO of Pathstone. "Mark was part of the discussion eleven years ago when Pathstone was just an "idea," and he gave an instrumental industry keynote address to our leadership team at our January 2017 offsite. With Mark now joining our Board, he has come full circle with the firm. Having both Mark and Ron as independent Board members will be extremely beneficial to our business's long-term vision and growth."

"I am excited to join the Board of Pathstone," said Mr. Tibergien. I have known Pathstone and the team for many years and have watched them grow and be recognized as an innovating force in the family office and wealth management business."

"My experience and interaction with Pathstone regarding Environmental, Social, and Governance ("ESG") and impact investing is what led me to be desirous of becoming an independent Board member," said Ron Cordes of the Cordes Foundation. With the addition of Mark's experience and deep appreciation for our industry leadership and innovation, Pathstone will continue the great path of being recognized as a national fiduciary advisory firm."

Earlier in the year, Mr. Cordes joined the Pathstone Board as an independent member. Before co-founding the Cordes Foundation, a foundation that focuses on impact investing and social entrepreneurship, he was cofounder and CEO of AssetMark, a leading U.S. managed account platform and co-authored "The Art of Investing."

About Pathstone:
Pathstone is an independently operated and partner-owned multi-generational family office that offers strategic wealth management and customized investment services to high-net-worth and ultra-high-net-worth individuals and families, family offices, and select institutions.

With decades of experience as trusted advisors, we employ an advocacy-focused model that empowers our clients to define
and achieve their unique long-term goals and support their legacy. For more information, please visit www.pathstone.com.
Aug 25,
2020

Monument Re acquires LCL International Life Assurance Company Limited and Isle Of Man operations from Charles Taylor Group
08.25.20

Monument Re acquires LCL International Life Assurance Company Limited and Isle Of Man operations from Charles Taylor Group

Monument Re announced today that, subject to regulatory approval, it has agreed to acquire Charles Taylor Group’s Isle of Man operations, which principally comprises its life insurance company, LCL International Life Assurance Company Limited and Charles Taylor Holdings (IOM) Limited. Financial terms of the transaction were not disclosed.

Manfred Maske, CEO of Monument Re Group, said: “We are very pleased to have worked with the Charles Taylor team to reach an agreement to acquire their Isle of Man operations. The signing of this transaction establishes our presence on the island and represents a key step in executing our strategy in the Crown Dependencies.”

Rob Brown, Charles Taylor Group CEO, said, “Monument Re is a great new owner for our Isle of Man business. Our decision to proceed with this transaction resulted from the ongoing evaluation of our business to ensure the right offerings, operating structure and competitive positioning for our clients and for our long-term success. The divestment of the Isle of Man operation was a natural conclusion of this assessment and results in a simpler group with a clear focus on non-life insurance services across our core claims services, technology and insurance management offerings.”

Jeffrey More, CEO of Charles Taylor Insurance Services (IOM) said, “We have enjoyed an extended period of success under Charles Taylor’s ownership, which has included making a number of acquisitions as we have built the business. I am delighted that we are joining Monument Re and look forward to playing our part in driving further growth.”

Both Monument Re and Charles Taylor are committed to providing seamless continuity of services during the period of transition.

Change of control of the companies will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.

Fenchurch Advisory Partners acted as financial adviser to Charles Taylor.

About Monument Re
Monument Re Limited is a life Reinsurance and Insurance Holding Company with a presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands and Guernsey, with branches in Spain, Italy, France and Germany. Monument Re operates as a reinsurer and acquirer of European asset-intensive portfolios. Through this strategy, Monument Re assumes asset-based risks within its risk appetite and efficiently operates these businesses or portfolios.

Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.

To learn more, please visit www.monumentregroup.com.
Aug 24,
2020

Engage People CTO Interviewed in The Wise Marketer
08.24.20

Engage People CTO Interviewed in The Wise Marketer

Len Covello, CTO of Engage People Inc., weighs in on the discussion surrounding the new Air Canada Aeroplan in The Wise Marketer.
Aug 14,
2020

EXIM Board Votes to Notify Congress of Potential Transactions Totaling $450 Million Supporting Approximately $1 Billion of Existing & Future U.S. Exports and an Estimated 1,600 American Jobs
08.14.20

EXIM Board Votes to Notify Congress of Potential Transactions Totaling $450 Million Supporting Approximately $1 Billion of Existing & Future U.S. Exports and an Estimated 1,600 American Jobs

LSQ exists to help people and their businesses succeed. The company is humbled by the prospect of positively impacting so many American workers, their families, and the U.S. economy.  Read the announcement from the Export-Import Bank of the United States here. 
Aug 12,
2020

Lovell Minnick's Mid-Year Update Newsletter
08.12.20

Lovell Minnick's Mid-Year Update Newsletter

We invite you to read about Lovell Minnck's latest updates in our mid-year newsletter here.
Aug 11,
2020

Charles Taylor welcomes Arjun Ramdas as Chief Executive Officer of InsureTech
08.11.20

Charles Taylor welcomes Arjun Ramdas as Chief Executive Officer of InsureTech

Charles Taylor, the leading provider of services and technology solutions to the global insurance market, has today announced that Arjun Ramdas will join the firm as Chief Executive Officer of Charles Taylor InsureTech, effective September 2nd. Arjun joins Charles Taylor from Microsoft where he served as the Practice Leader for Microsoft’s Consulting Services in the UK.

Arjun Ramdas said, “I am excited to lead a team that combines Charles Taylor’s insurance heritage with a deep understanding of relevant technologies, and real-world business transformation experience. The insurance industry is poised for a significant period of transformative change, and Charles Taylor InsureTech is in a strong position to drive this change through its industry insider perspective coupled with process & technology know-how and a consultative approach.”

Rob Brown, Charles Taylor Group Chief Executive Officer added, “I am delighted to welcome Arjun to Charles Taylor. Arjun has a strong track record of building high performing teams that have consistently delivered technology-led benefits for clients. This client focus, coupled with his deep technology expertise, will really help us define the next chapter of success for not only our InsureTech business but also Charles Taylor as a whole.”

About Arjun Ramdas

Arjun started in Microsoft as the Services Practice Leader for the Financial Services & Insurance. Prior to his role at Microsoft, Arjun spent over a decade at Cognizant where he worked to build out Cognizant’s Management Consulting practice in key European markets,in the UK, Germany, France, Switzerland & the Netherlands and he recruited a pan-European consulting team, before running an Industry business in the UK.
Aug 05,
2020

Inside Real Estate Doubles Down on Innovation with New Investment
08.05.20

Inside Real Estate Doubles Down on Innovation with New Investment

DRAPER, Utah, Aug. 5, 2020 /PRNewswire-PRWeb/ -- Inside Real Estate, one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 top agents, teams and brokerages, is doubling down on innovation and growth. The company announced today a major new Innovation Investment focused on accelerating the use of technology to dramatically enhance the experience of real estate professionals and consumers across the entire home transaction lifecycle. The program was financed through additional investment in the Company by management and its financial partner, Lovell Minnick Partners.

In the last seven years, Inside Real Estate has invested over $200 million to create the industry's first, purpose-built platform that meets the unique needs of brokers, teams and agents—all in one tech ecosystem. The new innovation program is a natural continuation of this effort and will be dedicated to making targeted technology advancements to both front and back office platforms, as well as expanding marketplace offerings and consumer-facing applications by leveraging and integrating technologies including machine learning and artificial intelligence (AI).

"The rapidly evolving nature of the real estate industry coupled with the challenges of the current landscape demand that we expand our efforts to empower our customers with the best tools and technology to deliver even better consumer experiences, greater productivity and solutions that are easier to use," said Ned Stringham, CEO of Inside Real Estate. "Inside Real Estate started as an innovator and will continue to build upon that reputation as we expand to serve our growing network of agents, teams and brokerages."

As part of doubling research and development initiatives and investing in and expanding technology offerings, Inside Real Estate will add to both its product and customer success departments, adding leadership and team roles that will provide additional resources and expertise to partners.

"We're looking forward to growing the Inside Real Estate team and continuing to collaborate with industry professionals that share our creative vision for the future of real estate," continued Stringham. "The feedback from and needs of our customers is our top priority and key driver as we expand our team and offerings during this inflection point for our robust and ever-changing industry."

About Inside Real Estate:
Inside Real Estate is a fast growing, independently-owned real estate software firm that serves as a trusted technology partner to over 200,000 top brokerages, agents and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable and flexible architecture, kvCORE enables every brokerage to create their own unique technology ecosystem through custom branding, robust integrations and high-quality add-on solutions. With an accomplished leadership team and over 200 employees, Inside Real Estate brings the resources, scale and vision to deliver ongoing innovation and success to their growing customer base. Visit insiderealestate.com to learn more.
Aug 03,
2020

Trevor Rich interviewed for FundFire's Alts issue
08.03.20

Trevor Rich interviewed for FundFire's Alts issue

Trevor Rich spoke with FundFire for this week’s Alts issue about increased interest and deal activity in the insurance sector. Read more here.
Jul 31,
2020

Growing Smart(ly) in a Way That Matters: Pathstone Announces the Addition of Cornerstone
07.31.20

Growing Smart(ly) in a Way That Matters: Pathstone Announces the Addition of Cornerstone

Englewood, NJ/Bellevue, WA—July 30, 2020—Pathstone, an independently operated and partner owned multi-generational family office serving HNW and UHNW individuals and families, family offices, and select institutions, announced today that they will be acquiring Cornerstone Advisors Inc. Cornerstone, headquartered in Bellevue, WA, was founded in 1984 with the sole purpose of equipping wealthy individuals and families to make sound financial decisions and achieve long-term financial results desired by the client.

“We are incredibly excited for our shared “Path” to success in service to our clients and employees,” said Steve Braverman, Co-CEO of Pathstone. “Cornerstone is uniquely aligned around our future mission and shares a similar culture as ours with focus in their people, growth, service to clients, and promise of being a multigenerational firm. Together we can continue our vision to be a firm celebrated for our core values and to be recognized as “Built for Clients, Powered by Innovation and Smart in a Way that Matters.”

“This combination enhances our capabilities and offerings and will allow us to further differentiate Pathstone as our clients’ most trusted advisor,” said Matthew Fleissig, President of Pathstone. “By combining our talented teams, state-of-the-art technology, and innovative processes, we strengthen the promise to our clients to create, manage, and preserve their legacy for many generations.”

“This is the next chapter of the Cornerstone story,” says Ken Hart, CEO of Cornerstone. “This decision was a result of a deliberate and diligent process with a core focus on building the best possible future for clients and employees. It will have significant positive long-term impact and will position us to continue to thrive going forward.”

“As part of this exciting combination, we look forward to adding 22 new partners, equating to 44% of our employees that own equity in Pathstone,” said Allan Zachariah, Co-CEO of Pathstone. “We believe this is critical to improve the strength of the business, helping us to insure stability and longevity for clients and employees.”

The combination of the two firms will allow many more opportunities for clients as it will leverage the talents of 200 employees across 9 offices serving clients representing in excess of $20 Billion in total advisory assets.

Cornerstone Advisors, Inc. was advised by the Asset and Wealth Management investment banking team of Raymond James throughout the course of this undertaking with DLA Piper serving as legal counsel. Alston & Bird LLP served as legal counsel to Pathstone.


About Pathstone:
Pathstone is an independently operated and partner owned multigenerational family office that offers strategic wealth management and customized investment services to high-net-worth and ultra-high-net worth individuals and families, family offices, and select institutions.

With decades of experience as trusted advisors, we employ an advocacy-focused model that empowers our clients to define and achieve their unique long-term goals and support their legacy. For more information please visit: www.pathstone.com.

About Cornerstone:
Cornerstone Advisors Inc., is a wealth and lifestyle management company with $4 billion in assets under management. Cornerstone was founded in 1984 with the sole purpose of equipping wealthy individuals and families to make sound financial decisions and achieve the long-term financial results they desire.

The privately-held firm is headquartered in Bellevue, WA with additional offices in Seattle and Anchorage with 65 employees throughout the region serving more than 600 families. For more information please visit: www.buildbeyond.com.
Jul 31,
2020

Jason Barg interviewed for The Drawdown regarding Operational Due Diligence
07.31.20

Jason Barg interviewed for The Drawdown regarding Operational Due Diligence

The Drawdown sought our insights on operational due diligence; Jason Barg is quoted in their article here.
Jul 30,
2020

BlueVoyant Partners with Foreside Financial Group to Deliver Tailored Cybersecurity Services
07.30.20

BlueVoyant Partners with Foreside Financial Group to Deliver Tailored Cybersecurity Services

New York, NY – July 29th 2020  BlueVoyant, a global expert-driven cybersecurity services company, has announced a strategic partnership with Foreside Financial Group (Foreside), to provide the company’s cybersecurity consulting, Professional Services (PS) and Managed Security Services (MSS) solutions to Foreside’s clients, enabling them to be proactive in the complex arena of cyber risk management.

This strategic alliance with Foreside, a provider of regulatory and compliance service and technology offerings to clients in the global asset and wealth management industry, will offer tailor-made cybersecurity consulting programs and Managed Detection and Response (MDR) solutions for all of Foreside’s 2,000+ Investment Advisors, Broker-Dealers, and global asset managers clients.

“Investment advisors and broker-dealers are a common target for threat actors, as they handle highly sensitive client information. Therefore, a proactive, defensive stance is required to protect financial-related data from theft and exploitation,” said Mark Alcaide, Senior Managing Director, Foreside. “As a trusted and industry-recognized provider of cybersecurity services and with a highly experienced team of professionals, BlueVoyant is a great partner to deliver value-enhanced services to our clients, giving them confidence that their systems, data, and client information are robustly protected.”

Foreside will offer BlueVoyant’s MSS to clients, including MDR, and Security Information and Event Management (SIEM) capabilities. Additionally, Foreside has partnered with BlueVoyant to offer Penetration Testing, Incident Response, and a full range of cybersecurity consulting services.

“BlueVoyant’s partnership with Foreside capitalizes on the firm’s position as one of the leading providers of compliance consulting solutions to Investment Advisors and Broker-Dealers,” adds Jim Rosenthal, co-founder and CEO, BlueVoyant. “Foreside’s clients can now access BlueVoyant’s cybersecurity tools through Foreside’s centralized client portal, allowing them to develop, implement, and maintain a customized cybersecurity program designed to meet their objectives.”

Foreside’s partnership with BlueVoyant offers simple, packaged cybersecurity services that are designed to not only help Investment Advisors and Broker-Dealers meet compliance expectations, but to help them prepare and protect themselves and their clients from potential cyberattacks.

About BlueVoyant

BlueVoyant is an expert-driven cybersecurity services company whose mission is to proactively defend organizations of all sizes against today’s constant, sophisticated attackers and advanced threats. Led by CEO Jim Rosenthal, BlueVoyant’s highly skilled team includes former government cyber officials with extensive frontline experience in responding to advanced cyber threats on behalf of the National Security Agency, Federal Bureau of Investigation, Unit 8200 and GCHQ, together with private sector experts. BlueVoyant services utilize large real-time datasets with industry-leading analytics and technologies.

Founded in 2017 by Fortune 500 executives and former Government cyber officials and headquartered in New York City, BlueVoyant has offices in Maryland, Tel Aviv, San Francisco, London, and Latin America.

About Foreside

Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion1 of product through their 20 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers, and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.


1 as of January 1, 2020
Jul 27,
2020

National Auto Care Acquires Diversified Management Group, Inc.
07.27.20

National Auto Care Acquires Diversified Management Group, Inc.

(PONTE VEDRA BEACH, Florida, July 2020) – Tony Wanderon, CEO of National Auto Care, and Chris Weber and James Jodison, the principals of Diversified Management Group (DMG) today announced that National Auto Care has acquired DMG.

DMG is an independent automotive finance & insurance agency based in Chicago that has successfully driven profits for its dealership clients since the agency’s founding in 2002.

DMG President Chris Weber and his partner James Jodison will continue to manage the day-to-day operations of their Illinois office with the added support of NAC’s industry-leading products and best-in-class claims management capabilities. By combining with NAC, DMG’s growth will be further accelerated through offering a wider array of value-added products, services, and technology to its existing and new dealer relationships.

“With its dedication to outstanding client service and product innovation, Diversified Management Group is an ideal fit with the NAC team. Its culture and commitment to growth are fully aligned with NAC’s values and objectives, and I am excited to begin our partnership,” says National Auto Care’s Senior Vice President, Courtney Wanderon. “NAC is committed to a high-growth strategy of supporting our core agency relationships across the country as well as making strategic acquisitions of like-minded agencies.”

CEO Tony Wanderon adds, “We are excited about the acquisition of Diversified Management Group. DMG’s values and commitment to excellence make it a natural fit with the NAC team, and we look forward to working with Chris and James.”

The DMG leadership team has over 60 combined years of experience in bringing innovative products and market leading tools to assist dealers in meeting their customers’ needs.

“We have been privileged to serve such fantastic dealership clients for many years, and we are honored to begin the next chapter of our growth with National Auto Care. We believe this partnership creates opportunities for us that we have not seen elsewhere across the industry,” says DMG President Chris Weber.

About National Auto Care Corporation
National Auto Care Corp. provides F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators, and credit unions. National Auto Care focuses on increasing agent and dealer profitability by providing unique F&I products in protected markets. National Auto Care was honored with a 2019 Dealer’s Choice Platinum Award for F&I Products for the fourth consecutive year. For more information, visit nationalautocare.com.
Jul 08,
2020

ATTOM Data Solutions Acquires Home Junction, Continuing the Company's Data and Application Expansion
07.08.20

ATTOM Data Solutions Acquires Home Junction, Continuing the Company's Data and Application Expansion

Acquired Data Elements Include Proprietary School Attendance Area Boundaries, Neighborhood Boundaries and Additional Datasets;
Acquisition Further Solidifies ATTOM’s Position as The One-Stop Shop for Comprehensive Property Data

IRVINE, Calif. – July 8, 2020 — ATTOM Data Solutions, curator of the nation’s premier property database, today announced it has acquired Home Junction Inc., a real estate data technology company that specializes in building high quality geographic boundary datasets for neighborhoods, school attendance zones, subdivisions and more.

“ATTOM’s mission is to increase real estate transparency in America, and expanding our geospatial capabilities and datasets is core to that mission,” said Rob Barber, CEO at ATTOM Data Solutions. “This acquisition extends ATTOM’s data footprint and will enhance our value proposition for our customers, while integrating a talented team from Home Junction to an already talented team at ATTOM. While data elements are important, people elements are even more important. This is an important acquisition because it is an investment in both data and people.”

The strategic acquisition of Home Junction will expand ATTOM’s already robust data warehouse by adding proprietary school and neighborhood boundary data, crime, points of interest and demographics. ATTOM will continue Home Junction’s commitment of servicing real estate agents, teams and brokers with a suite of products that include custom websites and data widgets.

Click here to view ATTOM’s Table of Data Elements

“Our focus at Home Junction has always been creating and unifying geospatial property datasets,” said John Perkins, CEO and Founder of Home Junction. “By joining forces and having common goals, we are confident that ATTOM will continue to increase efficiencies in the marketplace and continue to be a custom solutions provider for businesses ranging from startup to seasoned enterprise.”

Founded over 10 years ago, Home Junction’s goal is to provide brokers, agents, teams, lenders, insurers and others with the ability to integrate vast amounts of property data into their internal and external web applications. The synergy of the two companies will strengthen ATTOM’s competitive positioning in the enterprise data licensing marketplace and the consumer & investor real estate search market.

About ATTOM Data Solutions
ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).

About Home Junction Inc.
Based in San Diego, CA, Home Junction is a data technology company that specializes in real estate data and boundary licensing, custom websites created with WordPress real estate themes, WordPress real estate plugins and additional services. The company provides an extensive number of data layers on home sales, neighborhoods, schools, school attendance zones, demographics, home value estimates, geospatial boundaries, and other information. The founders have more than 50 years’ experience combined in data aggregation and real estate website development.
Jul 01,
2020

Jason Barg interviewed for S&P Global Market Intelligence
07.01.20

Jason Barg interviewed for S&P Global Market Intelligence

We’re pleased to share coverage from S&P Global Market Intelligence including commentary from an interview with Jason Barg.
Click here to read the full article.
Jul 01,
2020

Steve Pierson Interviewed for Private Equity International
07.01.20

Steve Pierson Interviewed for Private Equity International

Steve Pierson was interviewed for the July issue of Private Equity International on the impact that COVID-19 has had on the financial technology sector.

Click here to read the full article.
Jun 30,
2020

Inside Real Estate Acquires dashCMA, Real Estate’s Hot New Pricing Tool
06.30.20

Inside Real Estate Acquires dashCMA, Real Estate’s Hot New Pricing Tool

Top real estate tech provider acquires award-winning pricing tool, helping real estate professionals facilitate the most effective & compelling pricing discussions with buyers & sellers 


DRAPER, UTAH, JUNE 30th , 2020:  Inside Real Estate, one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 top agents, teams and brokerages, announced today its acquisition of dashCMA. The modern pricing tool, dashCMA, helps real estate agents win more listings and secure more accepted offers by facilitating simple yet compelling pricing discussions with buyers and sellers.

 
A 2019 Inman Innovator Award nominee, dashCMA drastically simplifies the process of creating and presenting a Comparative Market Analysis (CMA) by delivering key data points in an elegant and interactive format that takes minutes, not hours. Traditionally, CMA products have an overwhelming amount of unstructured details and instead of serving their purpose of educating, they often leave clients more confused about home pricing. By structuring the most pertinent data into a simple, yet comprehensive dashboard, dashCMA facilitates pricing conversations that establish trust and easier decision making between agents and their clients.

 
“We are thrilled to welcome dashCMA into the Inside Real Estate family,” said Ned Stringham, CEO of Inside Real Estate. “Karen and the entire dashCMA team have done a fantastic job creating a product that helps real estate professionals do more business, more efficiently - a core value we are very much aligned on. We look forward to integrating dashCMA into our ecosystem to provide even more cutting-edge technology to our clients, and to expand its reach across our growing footprint of top agents, teams and brokerage partners.” 

 
Over the past year, dashCMA has garnered an impressive following, including clients like Seven Gables Real Estate and Keller Williams Forward Living. dashCMA has a growing wait list of real estate professionals looking to take advantage of its compelling pricing presentations. By joining Inside Real Estate, and their extensive footprint of over 600 MLSs covering nearly 99% of all listings across the US & Canada, dashCMA’s availability will expand rapidly to most major markets. The solution will be available for purchase as a standalone product offering to brokerages, and in the coming months, will be integrated into Inside Real Estate’s flagship platform kvCORE and made available for purchase within the kvCORE Marketplace. 

 
“dashCMA ups the game for real estate professionals to deliver highly compelling presentations and ensure no deal is ever lost over pricing,” said dashCMA founder, Karen Abram, who was recently recognized by HousingWire in their 2020 class of Rising Stars. “I’m beyond excited to join the Inside Real Estate family where, together, we can expand the reach of dashCMA exponentially, helping even more real estate professionals achieve success.” 

 
About Inside Real Estate:

Inside Real Estate is a fast growing, independently-owned real estate software firm that serves as a trusted technology partner to over 200,000 top brokerages, agents and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable and flexible architecture, kvCORE enables every brokerage to create their own unique technology ecosystem through custom branding, robust integrations and high-quality add-on solutions. With an accomplished leadership team and over 175 employees, Inside Real Estate brings the resources, scale and vision to deliver ongoing innovation and success to their growing customer base. Visit insiderealestate.com to learn more.
Jun 19,
2020

Brad Armstrong Interviewed for Middle Market Growth Magazine
06.19.20

Brad Armstrong Interviewed for Middle Market Growth Magazine

Partner Brad Armstrong recently spoke with Middle Market Growth Magazine about dealmaking in today’s virtual environment. Read more here.
Jun 17,
2020

Brad Armstrong is interviewed by The Deal: "PE Aims at Main Street Via 401(k) Plans: Private Briefing"
06.17.20

Brad Armstrong is interviewed by The Deal: "PE Aims at Main Street Via 401(k) Plans: Private Briefing"

Steve Gelsi from The Deal interviews Brad Armstrong for his insights on new guidelines allowing PE in 401K plans.  Read more here.
Jun 16,
2020

Charles Taylor Welcomes Industry Veteran Rob Brown As Group CEO
06.16.20

Charles Taylor Welcomes Industry Veteran Rob Brown As Group CEO

Brings global insurance services experience and a track record of profitable growth through focusing on clients and people

LONDON, June 16, 2020 /PRNewswire/ -- Charles Taylor, the leading provider of services and technology solutions to the global insurance market, has today announced the appointment of Rob Brown as Group Chief Executive Officer. For over three decades, Brown has been a transformative leader responsible for steering large global insurance businesses to achieve excellent performance in terms of both client outcomes and financial results.

Brown has a strong track record of building and leading high performing teams and was selected from an international pool of exceptional candidates. An outstanding leader with deep insurance knowledge, Brown has worked as an underwriter, a broker and a manager and has built an excellent reputation for leadership, through concentrated focus on clients, people and communications.

In his previous role as CEO of AXA Global Corporate Solutions, Brown was responsible for 1500 employees globally over a 4-year period. During his tenure, he successfully led the team of the Corporate Solutions business to expand their product solutions and their client base.

Prior to AXA, Brown spent 15 years at Aon in a variety of senior leadership roles in the UK and EMEA, including a 4-year period as CEO of Aon UK. More recently, he held the position of CEO of Aon Risk Solutions, EMEA, with overall leadership of 15,000 employees across 50 countries from 2011-14. Brown’s tenure in both roles saw a consistent focus on delivering great outcomes for clients. He has also held underwriting roles in commercial lines at global insurance carriers, including Zurich and AIG.

Edward Creasy, Chairman of Charles Taylor commented, “We are delighted to welcome Rob to Charles Taylor. He is a highly regarded CEO with impressive insurance experience at the board and executive level within major insurance market organisations and an outstanding leader of people. Above all he is a great cultural fit for our organization having also spent time in multiple markets around the world in people-focused businesses.” He added, “We are looking forward to the future with Rob at the helm. We are confident that under his operational and strategic guidance Charles Taylor will continue to grow its distinctive market position as the provider of professional services and technology solutions supporting every stage of the insurance lifecycle and operating model.”

Rob Brown said, “The insurance industry increasingly relies on first class providers of services and solutions to access expertise and operational capacity, and to help market participants across the world deliver what their clients want. I believe that this will be truer than ever over the coming years as current market conditions drive more rapid operating model change. Charles Taylor has an outstanding reputation for superior client service and a great culture. I’m excited to be joining the team and to listening, learning and adding value as we collectively deliver the next chapter of Charles Taylor’s success.”

About Charles Taylor
Charles Taylor is a global provider of professional services and technology solutions dedicated to enabling the global insurance market to do its business fundamentally better. Dating back to 1884, Charles Taylor now employs approximately 3000 staff in more than 120 locations spread across 30 countries in Europe, the Americas, Asia Pacific, the Middle East and Africa.

Charles Taylor believes that it holds a distinctive position in its markets in that it is able to provide professional services and technology solutions in order to support every stage of the insurance lifecycle and every aspect of the insurance operating model. Charles Taylor serves a diversified blue-chip international customer base that includes national and international insurance companies, mutuals, captives, MGAs, Lloyd's syndicates and reinsurers, along with brokers, distributors and corporate insureds.  http://charlestaylor.com/
Jun 16,
2020

GeoWealth and Foreside Financial Group Announce Strategic Alliance, Providing Advisors with the Infrastructure Needed to Launch an RIA Today
06.16.20

GeoWealth and Foreside Financial Group Announce Strategic Alliance, Providing Advisors with the Infrastructure Needed to Launch an RIA Today

Alliance Fulfills Advisor Demand for Turnkey Outsourced Compliance and Investment Solutions

[Chicago -- June 16, 2020] GeoWealth, a leading financial technology and turnkey asset management platform (TAMP), today announced a strategic alliance with Foreside Financial Group (“Foreside”), a global provider of compliance technology solutions and product distribution services to the asset and wealth management industries. Through this partnership, financial advisors that are either breaking away and becoming independent, or are founding a registered investment advisory firm (“RIA”), will have access to the full, turnkey investment, technology, and compliance infrastructure they need to successfully launch their businesses.

“Before an advisor launches an RIA, they must select both a compliance and technology partner. With the added complexities for advisors now working remotely during COVID, we are focused on simplifying and streamlining what is often characterized as an overwhelming process,” said, Colin Falls, President of GeoWealth. "We are excited to announce our partnership with Foreside. Their industry-leading compliance offerings combined with our turnkey, modern platform will help entrepreneurial advisors successfully make the transition to independence.”

GeoWealth’s next-generation turnkey asset management platform is powered by its proprietary enterprise technology that comprehensively supports advisors. This cloud-based platform simplifies the wealth management process by allowing advisors to seamlessly manage all aspects of their business. GeoWealth’s flexible, outsourced model management program includes both advisor-managed and third-party models. Their third-party model marketplace features investment solutions from some of the industry's most trusted asset managers, including J.P. Morgan, PIMCO, Fidelity, State Street Global Advisors, Van Eck, and Global X.

Foreside’s Compliance Programs for RIAs are designed by experienced compliance experts and tailored to fulfill the ongoing compliance obligations of RIAs. Each level of support provides a dedicated consultant, supported by a team of compliance professionals, to deliver proactive services and continuous support to your firm. Together, GeoWealth and Foreside’s synergistic offerings will unite, allowing advisors to access their shared resources, knowledge, and platforms.

“Foreside continues to bring to our clients best-in-class proprietary technology and partnerships with providers like GeoWealth who are pioneers in the industry. In so doing, we help our clients gain access to products that help them innovate, improve, and grow” said, Mark Alcaide, Senior Managing Director, Foreside. GeoWealth’s end-to-end advisor platform allows a holistic solution that assists our clients with their technology, investment, and back-office needs.”

About GeoWealth
GeoWealth’s cloud-based financial technology platform empowers advisors to grow faster and to serve their clients more efficiently. With over 500 advisors and more than 60,000 accounts on its platform today,
GeoWealth provides advisors flexible portfolio management, performance reporting, billing and risk profiling. GeoWealth also offers a diversified lineup of turnkey model portfolios. More information is available at http://www.geowealth.com.

About Foreside
Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion of product through their 20 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.
May 22,
2020

Lovell Minnick Announces Appointments to Advisory Council
05.22.20

Lovell Minnick Announces Appointments to Advisory Council

Scott Heberton, Steve Ozonian and Stefanie Shelley Join Advisory Council
Greg Cohen will Join Advisory Council and Continue as Operating Partner

PHILADELPHIA, LOS ANGELES and NEW YORK – May 22, 2020 – Lovell Minnick Partners (‘LMP’), a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced the appointments of Greg Cohen, Scott Heberton, Steve Ozonian and Stefanie Shelley to the firm’s Advisory Council.

“Greg, Scott, Steve and Stefanie are excellent additions to Lovell Minnick’s Advisory Council,” said Steve Pierson, Managing Partner at LMP. “Greg’s significant operating company experience in commerce platforms and payments along with the work he’s been doing with us over the past year, as well as the industry expertise and credentials in the financial services space that Scott, Steve and Stefanie possess position them all well to offer insights and resources that we believe will drive growth and value creation at Lovell Minnick and for our portfolio companies.”

Greg Cohen was named an Operating Partner to LMP in 2019 and since then, has been assisting the investment team in reviewing numerous payment opportunities. He currently sits on the board of Lovell Minnick portfolio companies BillHighway, Currency and Fortis Payments. Most recently, Greg was President of Paya, a private equity backed integrated software, payment and EFT processor. He has also held several leadership roles in the payment and financial technology space throughout his career.

Scott Heberton currently serves as a Board Member and the Executive Chairman of Omni Healthcare Financial, LLC, a Lovell Minnick Fund IV portfolio company. Prior to that, he served as Head of FIG Investment Banking and Capital Markets at Wells Fargo. Scott’s extensive career in financial services has been primarily focused on advisory work and capital raising for industry verticals including specialty finance, real estate and alternative asset management.

Steve Ozonian is the President and CEO of Williston Financial Group. He has a strong and innovative background in the real estate industry, specifically focused on digitally transforming transactions. Steve was part of Lending Tree’s launch as a public entity and also served as CEO of RealEstate.com. He also sits on the boards of Attom Data and Inside Real Estate, Lovell Minnick portfolio companies.

Stefanie Shelley is an Advisor and Board Director and has been a long time business executive in the financial services and financial technology industries. Stefanie was the Chief Marketing Officer at Broadridge Financial Solutions and prior to that, she held C-suite roles driving growth and digital transformation at JP Morgan Chase, Citibank and Capital One. Stefanie was also a Board Director at Green Bancorp, a regional bank that was owned by private equity firms, grown significantly and taken public over a number of years.

LMP’s Advisory Council members are independent contractors that serve as advisors to Lovell Minnick as well as to the firm’s portfolio companies.

About Lovell Minnick Partners
Lovell Minnick Partners (‘LMP’) is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. We partner with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since our inception in 1999, we have become a leader in our chosen space, raising $3.5 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, we have completed more than 50 portfolio company investments.

We seek to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which we specialize include financial and insurance technology; payments; specialty finance; insurance brokerage and services; asset and wealth management; and related business services.
May 21,
2020

ATTOM Data Solutions CEO Rob Barber Named 2020 Maverick Of The Year
05.21.20

ATTOM Data Solutions CEO Rob Barber Named 2020 Maverick Of The Year

ATTOM Data Solutions CEO Rob Barber Named 2020 Maverick Of The Year By American Business Awards®.  Please click here to read more.
May 13,
2020

John Cochran and Trevor Rich interviewed in PaymentsSource
05.13.20

John Cochran and Trevor Rich interviewed in PaymentsSource

John Cochran and Trevor Rich recently spoke with PaymentsSource about how fintech and payments are being used to solve issues in supply chains’ financing methods during this time. Read more here.
May 08,
2020

Brad Armstrong Quoted in Investment News: Tech Adoption During COVID-19
05.08.20

Brad Armstrong Quoted in Investment News: Tech Adoption During COVID-19

Click here to read "Will an uptick in tech adoption during COVID-19 mean a cutback in staff?" in Investment News.
May 04,
2020

Steve Pierson quoted in WSJ Pro Private Equity, "In Their Own Words:"
05.04.20

Steve Pierson quoted in WSJ Pro Private Equity, "In Their Own Words:"

Click here to read the article.
Apr 23,
2020

Financial Planning: Will PE stick with firms through down times?
04.23.20

Financial Planning: Will PE stick with firms through down times?

"Will PE stick with firms through down times?" Our Partner, Brad Armstrong, was interviewed for this article in Financial Planning.
Apr 08,
2020

Foreside has been named top 10 hedge fund solution provider for 2020 by Capital Markets CIO Outlook
04.08.20

Foreside has been named top 10 hedge fund solution provider for 2020 by Capital Markets CIO Outlook

Foreside has been named Foreside: Top 10 hedge fund solution provider for 2020 by Capital Markets CIO Outlook.
Mar 20,
2020

Brad Armstrong Quoted in Bloomberg News
03.20.20

Brad Armstrong Quoted in Bloomberg News

Caution and care are a priority when making investment decisions, especially in financial services. Our Partner, Brad Armstrong recently discussed Lovel Minnick’s approach with John Gittelsohn at Bloomberg News.
Mar 18,
2020

Institutional Investor: Dealmaking in a Pandemic
03.18.20

Institutional Investor: Dealmaking in a Pandemic

With the health of our communities as a top priority, Lovel Minnick has been hunkered down all across the U.S. We have also been focused on keeping the wheels keep turning. Our partner, Brad Armstrong talked with Institutional Investor on deal-making in a pandemic, read it here. 
Mar 09,
2020

United Community Banks, Inc. and Three Shores Bancorporation, Inc., the Parent of Seaside National Bank & Trust, Announce Merger Agreement
03.09.20

United Community Banks, Inc. and Three Shores Bancorporation, Inc., the Parent of Seaside National Bank & Trust, Announce Merger Agreement

  • United Community Banks, Inc. (“UCBI”) acquires a strong commercial lender focused on relationship banking with a “branch lite” approach in key Florida metro areas
  • Seaside National Bank & Trust (“Seaside”): founded and led by an experienced and highly capable President and Chief Executive Officer, who will be joining the combined organization
  • Strategically compelling transaction, combining UCBI’s significant liquidity, low-cost funding and excess capital with Seaside’s extensive client network and growth potential
  • Accretive combination that is expected to add between $0.12 and $0.14 to earnings per share in the first full year of operations


GREENVILLE, S.C., March 09, 2020 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ: UCBI) (“UCBI”) and Three Shores Bancorporation, Inc. (“Three Shores”) announced today a definitive agreement for UCBI to acquire Three Shores, including its wholly-owned subsidiary, Seaside National Bank & Trust (“Seaside”).

Headquartered in Orlando, Florida, Seaside is a premier commercial lender with a strong wealth management platform. Its high-touch customer service is delivered to high net worth individuals and middle-market businesses through a network of 14 branches located in key Florida metro markets. As of December 31, 2019, Seaside reported outstanding loans totaling approximately $1.4 billion, comprised of a diversified group of small business borrowers operating in multiple industries in Florida. Additionally, Seaside operates a wealth management platform with more than $900 million of client assets under advisement.

Three Shores and Seaside were founded in 2006 by Gideon Haymaker, who continues to lead the company today as President and Chief Executive Officer. In Mr. Haymaker’s prior experience, he served as Executive Vice President of Private Client Services for SunTrust Banks for the State of Florida. Overall, he has more than 38 years of executive experience in regional banking. Following completion of the acquisition, Mr. Haymaker will become a key part of United’s team and continue to lead the Florida market.

“This transaction is consistent with our commitment to grow our commercial lending business and to deepen our client offerings,” said Lynn Harton, Chairman and Chief Executive Officer of UCBI. “Seaside adds the ability to supplement our traditional retail branch and commercial model with a “branch lite” C&I focus. Our larger balance sheet and low cost funding brings capital needed to continue to grow Seaside’s business and relationships. Additionally, the financial returns of the transaction are not reliant on high cost savings or on revenue synergies. However, we do believe these opportunities will exist as we will be able to offer expanded products and services through our combined franchise. The business will continue to be run by Seaside’s experienced and proven management team, and our cultural compatibility and shared relationship-based approach makes this a great fit.”

Gideon Haymaker, President and Chief Executive Officer of Seaside, stated, “Since its inception, Seaside has focused on developing a business model with the right products, services and delivery methods that fit our target markets and client base. We believe that we have been successful at that. However, to continue growing and to become more profitable, we needed to access more permanent capital and lower cost funding. Our partnership with the United team provides just that, as well as the opportunity to expand the products and services that both United and Seaside bring to the partnership. I believe that the synergies that exist between our commercial lending businesses will result in tremendous success for both sides.”

The transaction value is estimated to total approximately $180 million, including approximately $25 million being paid to holders of options and follow-on rights to acquire Three Shores common stock. The stock portion of the merger consideration is based upon .3300 shares of UCBI common stock being issued in exchange for each share of Three Shores common stock. The acquisition is expected to be accretive to UCBI’s earnings per share by approximately $0.12 to $0.14 in the first full year of operations and is consistent with UCBI’s stated acquisition criteria pertaining to tangible book value and targeted internal rates of return. The transaction is expected to be completed in the third quarter of 2020 and is subject to customary conditions, including regulatory approval as well as the approval of Three Shores’ shareholders.

“I am excited to work with Gideon as we have developed a relationship over the past few years and have been looking for an opportunity to enter the Florida markets. This is an exceptional opportunity for us, and we look forward to what the future holds together,” added Mr. Harton.

Morgan Stanley & Co. LLC acted as financial advisor to UCBI, and Nelson Mullins Riley & Scarborough LLP served as its legal advisor. Piper Sandler & Co. served as Three Shores’ financial advisor, and Smith Mackinnon, PA served as its legal advisor.

About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQ: UCBI) is a bank holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. United is one of the southeast region’s largest full-service financial institutions with $12.9 billion in assets and 149 offices in Georgia, North Carolina, South Carolina and Tennessee. It operates principally through United Community Bank, its bank subsidiary, which specializes in personalized community banking services for individuals, small businesses and companies. Services include a full range of consumer and commercial banking products, including mortgage, advisory, and treasury management. Respected national research firms consistently recognize United for outstanding customer service. For five of the past six years, J.D. Power’s U.S. Retail Banking Satisfaction Study has ranked United first in customer satisfaction in the Southeast. In 2019, for the sixth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America, and for the first time included United on its list of The World’s Best Banks. Additional information about UCBI and United can be found at www.ucbi.com.

About Three Shores Bancorporation, Inc.
Three Shores Bancorporation, Inc. is a bank holding company that operates Seaside National Bank & Trust and its subsidiaries Seaside Insurance and Seaside Capital Management, a registered investment adviser. Seaside National Bank & Trust is a nationally-chartered commercial bank headquartered in Orlando, Florida that operates in 14 cities located throughout North Florida, Central Florida, West Florida, South Florida, and the Greater Miami Area.

Through its affiliated companies, Three Shores Bancorporation, Inc. offers its clients a complete array of financial services including: private banking, commercial banking, wealth management, trust services, and insurance.

As of December 31, 2019, Three Shores had total consolidated assets of $1.9 billion, total deposits of $1.5 billion, total loans of $1.4 billion and total stockholders’ equity of $169 million. Off balance sheet in its wealth management business, Company subsidiaries had $913.4 million of assets under advisement, of which $721.7 million is fully managed for the benefit of its clients.

Caution About Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In general, forward-looking statements usually may be identified through use of words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, and include statements related to the expected timing of the closing of the Merger, the expected returns and other benefits of the Merger to shareholders, expected improvement in operating efficiency resulting from the Merger, estimated expense reductions resulting from the transactions and the timing of achievement of such reductions, the impact on and timing of the recovery of the impact on tangible book value, and the effect of the Merger on United’s capital ratios. Forward-looking statements are not historical facts and represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.

Factors that could cause or contribute to such differences include, but are not limited to (1) the risk that the cost savings and any revenue synergies from the Merger may not be realized or take longer than anticipated to be realized, (2) disruption from the Merger of customer, supplier, employee or other business partner relationships, (3) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement, (4) the failure to obtain the necessary approval by the shareholders of Three Shores, (5) the possibility that the costs, fees, expenses and charges related to the Merger may be greater than anticipated, (6) the ability of United to obtain required governmental approvals of the Merger, (7) reputational risk and the reaction of each of the companies’ customers, suppliers, employees or other business partners to the Merger, (8) the failure of the closing conditions in the Merger Agreement to be satisfied, or any unexpected delay in closing the Merger, (9) the risks relating to the integration of Three Shores’ operations into the operations of United, including the risk that such integration will be materially delayed or will be more costly or difficult than expected, (10) the risk of potential litigation or regulatory action related to the Merger, (11) the risks associated with United’s pursuit of future acquisitions, (12) the risk of expansion into new geographic or product markets, (13) the dilution caused by United’s issuance of additional shares of its common stock in the Merger, and (14) general competitive, economic, political and market conditions. Further information regarding additional factors which could affect the forward-looking statements can be found in the cautionary language included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in United’s Annual Report on Form 10-K for the year ended December 31, 2019, and other documents subsequently filed by United with the U.S. Securities and Exchange Commission (“SEC”).

Many of these factors are beyond United’s and Three Shore’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this communication, and neither United nor Three Shores undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for United or Three Shores to predict their occurrence or how they will affect United or Three Shores.

United and Three Shores qualify all forward-looking statements by these cautionary statements.

IMPORTANT INFORMATION FOR SHAREHOLDERS AND INVESTORS
In connection with the proposed merger, UCBI will file with the SEC a registration statement on Form S-4 that will include a Proxy Statement of Three Shores to be sent to Three Shores’ shareholders seeking their approval in connection with the merger. The registration statement also will contain the prospectus of UCBI to register the shares of UCBI common stock to be issued in connection with the merger. INVESTORS AND SHAREHOLDERS OF THREE SHORES ARE ENCOURAGED TO READ THE REGISTRATION STATEMENT, INCLUDING THE PROXY STATEMENT/PROSPECTUS THAT WILL BE A PART OF THE REGISTRATION STATEMENT WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED BY UNITED WITH THE SEC, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS TO THE REGISTRATION STATEMENT AND THOSE OTHER DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT UCBI, THREE SHORES AND THE PROPOSED TRANSACTION.

The registration statement and other documents filed with the SEC may be obtained for free at the SEC’s website (www.sec.gov). You will also be able to obtain these documents, free of charge, from UCBI at the “Investor Relations” section of UCBI’s website at www.ucbi.com or from Three Shores at the “Investor Relations” section of Three Shores’ website at www.threeshoresbancorporation.com. Copies of the definitive proxy statement/prospectus will also be made available, free of charge, by contacting United Community Banks, Inc., P.O. Box 398, Blairsville, GA 30514, Attn: Jefferson Harralson, Telephone: (864) 240-6208, or Three Shores Bancorporation, Inc., 201 South Orange Avenue, Orlando, Florida 32801, Attn: Barry Griffiths, Telephone: (407) 567-2212.

This communication does not constitute an offer to sell, the solicitation of an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This communication is also not a solicitation of any vote or approval with respect to the proposed transactions or otherwise.

PARTICIPANTS IN THE TRANSACTION
United, Three Shores, Seaside and certain of their respective directors and executive officers, under the rules of the SEC may be deemed to be participants in the solicitation of proxies from Three Shores’ shareholders in favor of the approval of the proposed merger. Information about the directors and officers of United and their ownership of United common stock can also be found in United’s definitive proxy statement in connection with its 2019 annual meeting of shareholders, as filed with the SEC on March 29, 2019, and other documents subsequently filed by United with the SEC. Information about the directors and executive officers of Three Shores and their ownership of Three Shores capital stock, as well as information regarding the interests of other persons who may be deemed participants in the transaction, may be obtained by reading the Proxy Statement/Prospectus regarding the proposed merger when it becomes available. Free copies of this document may be obtained as described above.
Feb 26,
2020

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02.26.20

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Feb 19,
2020

Foreside has been named Best Compliance Consulting Firm for the 2020 Private Asset Management Awards
02.19.20

Foreside has been named Best Compliance Consulting Firm for the 2020 Private Asset Management Awards

Foreside Financial Group, a leading provider of compliance and distribution solutions, is pleased to announce they have been named “Best Compliance Consulting Firm” for the 2020 Private Asset Management Awards. The awards ceremony took place on Thursday, February 6, 2020, in New York City.

The Private Asset Management Awards recognize the top wealth advisors, consultants, investment professionals, legal firms, and other key service providers in the private asset management space. These highly sought-after PAM awards provide a platform for top firms within the sector, to showcase the incredible achievements they have accomplished.

“We are honored that Private Asset Management named Foreside Best Compliance Consulting Firm, ” said Emmy Bernard, Senior Managing Director at Foreside. “Through a shared partnership with our clients, our approach of combining technology with comprehensive consultative advice drives operational efficiencies that enable our clients to flourish in today’s regulatory environment.”

Foreside marries innovative technology with high-touch consulting and expertise to help mitigate risk and increase operational efficiencies for firms across the asset management industry. At Foreside, our goal is to help clients get ahead of regulatory concerns by partnering with regulators to find solutions.” Foreside’s consulting and technology solutions alleviate pain-points for clients, allowing them time to focus on their value-adding work such as portfolio management, client service, and sales.

About Foreside:

Foreside delivers best-in-class technology solutions and comprehensive advice to clients in the global asset management industry. We distribute more than $1 trillion of product through our 20 limited purpose broker-dealers. For 15 years, our suite of services and platform-based model have helped us automate and simplify compliance and distribution for clients. We work with global asset managers, investment advisors, broker-dealers, and other financial institutions.

By harnessing state-of-the-art technology, we help firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including those in New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.
Feb 13,
2020

Engage People Partners with Priceline to Give Customers Flexibility to Pay For Travel With Loyalty Points
02.13.20

Engage People Partners with Priceline to Give Customers Flexibility to Pay For Travel With Loyalty Points

Partnership unlocks new opportunities for customers to spend points like cash, debit or credit card

TORONTO, ON / February 13, 2020 – Engage People, a global technology provider that redefines the way customers spend loyalty reward points, today announced that it is working with Priceline, a world leader in travel deals, to give loyalty program members the option to pay for travel using credit card loyalty reward points.

Engage People, which covers 100% of the top 13 e-commerce categories in North America, gives its customers the flexibility to spend loyalty points just like any other currency at participating retail partners around the world. With Priceline, Engage People loyalty program members can pay for the entire breadth of offerings from Priceline including flights, car rentals and hotels with loyalty points.

“Our aim is to unlock new ways for customers to spend loyalty reward points that have accumulated in their mobile wallets – and the best way to do that is by viewing points as a valuable form of currency,” said Len Covello, CTO of Engage People. “We’re excited to team up with popular sites like Priceline that are taking innovative approaches to providing people with more choices when it comes to making purchasing decisions.”

“This collaboration with Engage People will allow millions of travelers to use their points to pay for Priceline travel, including a worldwide assortment of flights, hotels and rental cars,” said Kayla Dickin, Director of Partnerships at Priceline Partner Network. “It also allows us to provide private travel discounts to exclusive groups such as loyal cardmembers. Whether it’s receiving the best deal on a trip and earning points for that transaction, or redeeming those points for travel, we continue to help consumers experience the moments that matter.”

To find out more about Engage People and its suite of award-winning technology offerings, visit www.engagepeople.com. For more information about how to collaborate with Priceline, contact Kayla Dickin at Kayla.Dickin@priceline.com.

About Engage People Inc.
Engage People is a global technology provider that redefines the way customers spend loyalty reward points. Serving as the conduit between banks, retailers and their customers, Engage People allows consumers to make everyday purchases with loyalty points, giving them the flexibility to buy what they want – whenever they choose. By offering pay with points, Engage People unlocks loyalty points that have been accumulated but not spent. Top banks and retailers around the world rely on Engage People for its first-of-its-kind loyalty ecosystem. With headquarters in Toronto, Ontario, Canada and offices in the U.S., Canada and Italy, Engage People has been ranked on Canada’s Fastest-Growing Companies list by Canadian Business and PROFIT. For more information visit: www.engagepeople.com

About Priceline
Priceline, part of Booking Holdings Inc., is a world leader in travel deals. Priceline offers exclusive discounts on hotels, flights, alternative accommodations, rental cars, cruises and packages. We offer more than a million lodging properties, helping travelers find the right accommodation at the right price. We negotiate great deals every day, and put our best pricing on the Priceline app. Our deep discounts on hotels, flights, rental cars and more are also distributed through our partnership brand, Priceline Partner Network. With free cancellation for many rates, 24-hour customer assistance and the option for both pre-paid and pay upon arrival reservations, Priceline helps millions of travelers be there for the moments that matter. For us, every trip is a big deal.
Feb 05,
2020

TriState Capital Announces Public Offering of Common Stock by Selling Shareholders
02.05.20

TriState Capital Announces Public Offering of Common Stock by Selling Shareholders

PITTSBURGH--(BUSINESS WIRE)--TriState Capital Holdings, Inc. (Nasdaq: TSC) (“TriState Capital”) announced that affiliates of Lovell Minnick Partners LLC (collectively, “Lovell Minnick”) have agreed to sell 2,678,049 shares of TriState Capital common stock in an underwritten public offering. Barclays Capital Inc. is acting as the sole book-running manager for the offering.

TriState Capital is not selling any stock in this transaction and will not receive any proceeds from the secondary offering.

Lovell Minnick funds have been equity investors in TriState Capital since August 2012. Following the offering, the Lovell Minnick funds will no longer hold shares in TriState Capital.

The shares are being offered pursuant to a shelf registration statement (File No. 333-222074) under the Securities Act of 1933, as amended, which has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on December 21, 2017. The offering is being made only by means of a prospectus supplement and accompanying prospectus. Potential purchasers of TriState Capital common stock should consider carefully the information contained in the preliminary prospectus supplement and the accompanying prospectus and other documents that TriState Capital has filed with the SEC that are incorporated by reference into the preliminary prospectus supplement for more complete information about TriState Capital and the offering. Copies of the registration statement, prospectus supplement and the accompanying prospectus relating to the offering may be obtained free of charge by visiting the SEC’s website at www.sec.gov, or may be obtained by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; barclaysprospectus@broadridge.com (phone 888-603-5847).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT TRISTATE CAPITAL

TriState Capital Holdings, Inc. (Nasdaq: TSC) is a bank holding company headquartered in Pittsburgh, Pa., providing commercial banking, private banking and investment management services to middle-market companies, institutional clients and high-net-worth individuals. Its TriState Capital Bank subsidiary had $7.7 billion in assets, as of December 31, 2019, and serves middle-market commercial customers through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, N.J., and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. Its Chartwell Investment Partners subsidiary had $9.7 billion in assets under management, as of December 31, 2019, and serves institutional clients and TriState Capital’s financial intermediary network.

FORWARD LOOKING STATEMENTS

This press release includes “forward-looking” statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including with respect to the timing and size of the offering, which statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to those that are described in the “Risk Factors” section of the preliminary prospectus supplement for this offering and the sections titled “Risk Factors,” “Cautionary Note Regarding Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in TriState Capital’s most recent annual and quarterly reports filed on Form 10-K and Form 10-Q, as well as in other filings that TriState Capital makes with the SEC from time to time (which are available at www.sec.gov). The events and circumstances discussed in such forward-looking statements may not occur, and TriState Capital’s actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements speak only as of the date of this press release and are based on information available to TriState Capital as of the date of this release.
Jan 21,
2020

Lovell Minnick Partners Makes Majority Investment in Charles Taylor
01.21.20

Lovell Minnick Partners Makes Majority Investment in Charles Taylor

PHILADELPHIA, LOS ANGELES and NEW YORK – JANUARY 21, 2020 - Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced that it has completed a majority investment in Charles Taylor, the provider of services and technology solutions to the global insurance market. The acquisition will support the continuation of Charles Taylor's successful growth strategy, with a focus on expanding client relationships, broadening specialist capabilities and the range of services and technology solutions, deepening geographic coverage, and reinvesting in quality of service and technology.

The acquisition marks the next step in Charles Taylor’s long and distinguished history and builds on its success over recent years. In the last five years, Charles Taylor has increased revenue by 115% and adjusted EBITDA by 97%, tripled its global headcount to around 3,100, and developed multiple new services and technology solutions for its clients across the global insurance market.

Lovell Minnick has committed to supporting Charles Taylor’s clients and to drive the delivery of Charles Taylor’s successful growth strategy, ensuring the future success of Charles Taylor for employees, partners and clients. Accordingly, Charles Taylor and Lovell Minnick will work together to:

          • Grow Charles Taylor’s Adjusting, Medical Assistance and other Claims Services businesses across the globe
          • Support the sustainable growth of Charles Taylor’s Insurance Management clients
          • Further develop Charles Taylor’s InsureTech business.

Charles Taylor’s existing experienced management team remains in place; there is no intention to make any changes to management structures or reporting lines as a result of this transaction.

David Marock, Group Chief Executive Officer, Charles Taylor, said, “I am excited to announce the completion of this acquisition, and believe that it is positive news for Charles Taylor, its clients, partners and staff. Throughout its history and irrespective of its ownership, Charles Taylor’s achievements have always been founded on its people, innovation and a commitment to excellent client service. Lovell Minnick understands these foundations, and I welcome their commitment to working with the management team to drive the business forward over the next stage of its history.”

Jason Barg, partner of Lovell Minnick, said, “We share a vision with the Charles Taylor team to continue supporting its clients, further advancing the ways in which we can support them, while further growing the platform over years to come.”

Spencer Hoffman, partner of Lovell Minnick, added, “Charles Taylor is a high-quality business, operating in a sector in which we have extensive experience. We are delighted to support the management team in continuing the development of the business they have built over the past years.”

About Charles Taylor

Charles Taylor is a global provider of professional services and technology solutions dedicated to enabling the global insurance market to do its business fundamentally better. Dating back to 1884, Charles Taylor now employs approximately 3,100 staff in more than 120 locations spread across 30 countries in Europe, the Americas, Asia Pacific, the Middle East and Africa.

Charles Taylor believes that it holds a distinctive position in its markets in that it is able to provide professional services and technology solutions in order to support every stage of the insurance lifecycle and every aspect of the insurance operating model. Charles Taylor serves a diversified blue-chip international customer base that includes national and international insurance companies, mutuals, captives, MGAs, Lloyd's syndicates and reinsurers, along with brokers, distributors and corporate insureds.

Further information is available at www.charlestaylor.com
Dec 17,
2019

Lovell Minnick Partners Makes Significant Growth Investment in Fortis Payment Systems
12.17.19

Lovell Minnick Partners Makes Significant Growth Investment in Fortis Payment Systems

Accelerates Expansion of Payments Technology into New Markets

PHILADELPHIA, LOS ANGELES and NEW YORK – DECEMBER 17, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced that it has completed a significant growth investment in Fortis Payment Systems, LLC (“Fortis” or the “Company”), a payments technology and merchant services provider. Financial terms of the private transaction were not disclosed.

Headquartered in Novi, Michigan, Fortis provides payment technology and processing capabilities to developers and businesses throughout North America. The Company’s proprietary payments platform, Zeamster, creates integrated commerce experiences for software and ERP providers as they transform the way businesses interact with their customers.

“Fortis has developed a highly configurable, powerful payments platform with industry-leading technical and security capabilities, supported by superior high touch service,” said Trevor Rich, Partner at Lovell Minnick Partners. “We look forward to supporting CEO Jimmy Nafso and his highly talented team to identify new solutions and channel partners.”

Since its founding in 2010, the Company has been a market leader in developing vertical specific solutions and integrating with point of sale software and ERP providers in numerous end markets. Fortis supports hundreds of developers, software providers, and channel partners and provides services to merchants throughout North America.

“We’re excited to leverage Lovell Minnick’s strong track record of scaling technology-businesses. With Lovell Minnick’s support we will be able to accelerate Fortis’ expansion into additional markets and continue innovating best-in-class payments solutions that meet the evolving needs of our customers,” said Nafso. “With Lovell Minnick as our new partner, our clients should remain assured that we will continue to provide ‘white glove’ customer service and innovative technology, which have been core to our value proposition since inception.”

“Jimmy and his leadership team have an excellent reputation in the payments industry. Their customer-centric approach is truly unique and the Zeamster micro-services platform is cutting edge with features to support a wide variety of businesses,” said Greg Cohen, an Operating Partner at Lovell Minnick and former president of the Electronic Transactions Association.

Lovell Minnick’s Trevor Rich and Greg Cohen will be joining the Fortis Board of Directors.

Sidley Austin LLP served as legal advisor and the Strawhecker Group served as payments advisor to Lovell Minnick. Butzel Long was counsel to Fortis.

About Fortis Payments Systems
Fortis Payments (Fortis) provides payments technology and merchant solutions to businesses and software developers across North America. Fortis has a focus on technology enabled solutions through a White Glove service approach and a mission to help small and mid-sized businesses scale through innovation. Fortis’ Zeamster platform provides state-of-the-art connectivity solutions for hundreds of software developers and channel partners. Fortis provides payments and financial technology solutions to thousands of businesses processing billions of dollars annually. For more information, please visit https://www.fortispayments.com/.
Nov 25,
2019

Foreside Announces Agreement to Acquire Fund Distributor Quasar Distributors, LLC
11.25.19

Foreside Announces Agreement to Acquire Fund Distributor Quasar Distributors, LLC

PORTLAND, Maine – November 25, 2019 – Foreside Financial Group, LLC (“Foreside”), a provider of regulatory and compliance service and technology offerings to clients in the global asset and wealth management industry, today announced its intent to acquire U.S. Bancorp’s mutual fund and exchange-traded funds (“ETFs”) distribution business, Quasar Distributors. The transaction is expected to close sometime in the first quarter of 2020. The acquisition will make Foreside one of the largest third-party fund distributors globally.

The acquisition will also expand Foreside’s internal team and client base, with the addition of more than 200 current Quasar clients, 26 employees and a new office location in Milwaukee, WI. With over $1 trillion in assets under distribution, Foreside continues to grow its market share rapidly. The transaction will introduce Foreside’s customizable compliance solutions and outsourcing support to all current Quasar clients, while strongly focusing on expanding Foreside’s broker-dealer capabilities, including dealer clearing services.

“Foreside is excited for the potential this acquisition provides to broaden our wide range of compliance and regulatory service offerings to clients based all over the U.S.,” said Dave Whitaker, President of Foreside. “Our inorganic growth continues to fuel our organic growth, as acquisitions like this one allow us to expand our service offerings and provide better strategic counsel and service to our clients.”

Quasar’s current clients range from small to large asset management firms, focused on mutual funds and ETFs. Quasar has carved out a niche during the past 20 years that has opened it up to growth opportunities outside of U.S. Bancorp.

“With Foreside’s investment and core capabilities in the mutual fund and ETF distribution space, Quasar should thrive while remaining true to its strengths. We have historically had a strong working relationship with Foreside and expect that relationship to continue into the future given the complementary nature of our businesses. We appreciate the hard work and dedication the Quasar team has shown during the years and wish them all the best as they transition to Foreside,” said Joe Neuberger, head of U.S. Bank Global Fund Services. “For us, the deal furthers our efforts to focus on our core competencies and grow strategically to create value for employees, customers, communities and shareholders.”

This is Foreside’s third acquisition in 2019. The firm acquired Compliance Advisory Services, a leading regional compliance firm, in October, and NCS Regulatory Compliance, a comprehensive provider of outsourced compliance and regulatory services, in January.

About Foreside
Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion of product through their 20 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.

About U.S. Bancorp
U.S. Bancorp, with 74,000 employees and $488 billion in assets as of September 30, 2019, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2019 World’s Most Ethical Company. Visit U.S. Bank at www.usbank.com or follow on social media to stay up to date with company news.

Quasar Distributors LLC, member FINRA, SIPC. Quasar Distributors, LLC is a wholly owned subsidiary of U.S. Bancorp.
Nov 05,
2019

Pathstone Selects Lovell Minnick Partners as Strategic Partner
11.05.19

Pathstone Selects Lovell Minnick Partners as Strategic Partner

LMP embraces existing vision and leadership, new investment supports innovation and growth for premier
multi-generational firm to continue serving multi-generational clients

ENGLEWOOD CLIFFS, N.J.- November 5, 2019 - Pathstone (“the Company”), a leading Registered Investment Advisory (RIA) firm with over $15 billion in assets under advisement as of the end of September 2019, today announced an investment by Lovell Minnick Partners (“LMP”). LMP, a private equity firm focused on investments in the global financial services industry and related technology and business services companies, will make a significant investment in Pathstone and provide ongoing strategic guidance to support the Company’s continued growth. Financial terms of the private transaction were not disclosed.

Under the terms of the transaction, Pathstone will remain independent and it will continue to be managed by its existing leadership team. In addition, Pathstone will add 16 existing employees as new shareholders, bringing total employee ownership to 48 of the Company’s 110 employees. With LMP’s investment, Pathstone’s current financial partner, Fiduciary Network, will fully exit its investment.

Matt Fleissig, President of Pathstone, states, “We set out to build a truly modern family office powered by next generation technology and a culture of innovation or, as we like to say, an organization that is ‘smart in a way that matters.’ With our partnership with LMP, we continue our focus on investing financial and intellectual capital in further developing client solutions.”

“We are excited to partner with Pathstone in their next stage of growth. As experienced investors in the wealth management industry, we greatly admire the business they have built and we embrace their multi-generational promise,” said Jim Minnick, Co-Chairman of LMP. “Pathstone has created a full service offering with a unique technology-enabled approach that we believe helps drive superior client service and operational efficiencies through automation.”

Brad Armstrong, Partner of LMP, added, “One of our reasons for investing in Pathstone is our shared commitment to incorporating Environmental, Social, and Governance (ESG) considerations in our investment criteria. We each believe it is additive to performance and beneficial in aligning our investment portfolios with our clients’ values. Inclusive of its legacy firms, Pathstone has been actively investing in sustainable and socially responsible investing strategies for nearly two decades and today has one of the most attractive ESG and impact investing platforms we have seen in the wealth management industry.”

Allan Zachariah, Pathstone’s Co-CEO shared, “We are grateful for our current financial partners at Fiduciary Network and Emigrant Partners, who had faith in us and believed in our vision five years ago. They helped guide us through two material acquisitions that propelled the growth of our firm. We wish them well and appreciate their support in helping us reach this exciting milestone.”

“This is a proud and exciting day for all of us here at Pathstone,” said Steve Braverman Co-CEO of Pathstone. “At Pathstone, we make a multi-generational promise to our clients, and that commitment is centered on providing a trusted and valued partnership. This is the next chapter of the Pathstone story that will continue to honor the trust and responsibility we have been granted by our clients. Our new partnership with LMP is built on that unifying vision, and we couldn’t be more thrilled for the path ahead.”

The transaction is expected to close at the end of the Fourth Quarter of this year. Raymond James | Silver Lane served as financial advisor and Alston & Bird LLP served as legal counsel to Pathstone on the transaction. Davis Graham & Stubbs LLP served as legal counsel to LMP on the transaction. Madison Capital Funding LLC provided funding for the transaction.

About Pathstone
Founded in 2010, Pathstone provides integrated and customized family office, wealth and investment services to multi-generational families, single family offices, high net worth individuals and institutions, such as charities and foundations, via a technology-enabled open architecture investment platform. Pathstone is privately held and has over 100 employees serving approximately 300 clients with $15 billion of assets under advisement through seven locations nationwide. For more information, please visit www.pathstone.com.
Oct 15,
2019

Foreside Acquires Compliance Advisory Services to Expand Compliance and Regulatory Services Offerings
10.15.19

Foreside Acquires Compliance Advisory Services to Expand Compliance and Regulatory Services Offerings

Introduces a series of comprehensive financial service offerings for current CAS clients

PORTLAND, Maine – October 14, 2019 – Foreside Financial Group, LLC (“Foreside”), a provider of regulatory and compliance service offerings to clients in the global asset management industry, today announced its acquisition of Compliance Advisory Services (“CAS”), a leading regional financial institution consulting firm.

The acquisition expands Foreside’s footprint in the U.S. and captures additional market share. The firm already enjoys a national presence, headquartered in Maine with offices in New York, Boston, Berwyn and Columbus, Londonderry, Concord, and Delray Beach.

“At Foreside, we’re committed to putting our clients first. This opportunity to partner with CAS allows us to work together to expand our comprehensive regulatory and compliance suite of service offerings as well as maintain a structured business model and point of contact for all CAS clients,” said David Whitaker, President of Foreside. “This acquisition is a fundamental step in a series of roll-ups that will keep us at the forefront of the regulatory consulting landscape. It gives us the opportunity to expand our wide-range of partnership offerings to a diverse range of clients. We are eager to work beside fellow expert compliance professionals to provide world-class service for clients while reaching our growth goals.”

The acquisition will introduce Foreside’s various compliance consulting solutions, including proprietary compliance technology to all current CAS clients. Further, the partnership will consist of a combination of Foreside’s financial services solutions, personalized service models, and an all-inclusive partnership program.

“We are deeply excited to be working alongside the Foreside team and feel Foreside is well-positioned to continue providing in-depth compliance service offerings to our clients,” said LaVerne White at CAS. “Not only will this partnership allow our clients' needs to be met in a more holistic capacity, but it will also offer an expansive level of support from a leading compliance firm. We feel confident Foreside will maintain the same level of professional expertise and precision we at CAS have strived to provide to our clients for over 25 years.”

A nationally recognized regulatory compliance consulting firm with a focus on Investment Advisors, CAS works to provide their clients with extensive regulatory and compliance offerings designed to fit their needs. In partnership with CAS, Foreside will continue to offer these comprehensive service packages, will maintain the dedicated consultant model that characterizes CAS’s hands-on consulting approach, and will introduce its proprietary compliance technology to further streamline their clients' management of regulatory obligations.

About Foreside
Foreside delivers best-in-class technology solutions and comprehensive advice to clients in the global asset management industry. We distribute more than $1 trillion of product through our 20 limited purpose broker-dealers. For 15 years, our suite of services and platform-based model have helped us automate and simplify compliance and marketing for clients. We work with pooled investment products, investment advisors, broker-dealers, global asset managers and other financial institutions.

By harnessing state-of-the-art technology, we help firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine with numerous regional offices, including those in New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.

About Compliance Advisory Services
Compliance Advisory Services, LLC. (CAS) is a nationally-known regulatory compliance consulting firm. CAS has long provided authoritative and practical advice in compliance matters and other important issues facing financial institutions. CAS' clients range in size from small community institutions to multibillion-dollar regionals. The firm’s consulting staff possess two common traits: excellent knowledge of regulatory requirements and finely-tuned comprehension of the financial industry.
Oct 14,
2019

Lovell Minnick Partners Announces Acquisition of Billhighway
10.14.19

Lovell Minnick Partners Announces Acquisition of Billhighway

New Investment to Accelerate the Company’s Growth in Existing and New Markets

PHILADELPHIA, LOS ANGELES and NEW YORK – OCTOBER 14, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced that it has completed the acquisition of Billhighway (the “Company”), a provider of integrated software and payments solutions to membership-based organizations (“MBOs”). Financial terms of the private transaction were not disclosed.

Headquartered in Troy, Mich., Billhighway provides SaaS-based accounting and transaction processing services to MBOs such as fraternities, sororities, unions and associations. MBOs use the Company’s technology suite for accounting, reconciliation and reporting while leveraging a full suite of electronic bill payment and presentment solutions. Billhighway improves the members’ experience while automating back-office functions and enhancing cash flow for national headquarters and local chapters. Founded in 1999, the Company is a leader in serving MBOs, which have more than 750,000 members nationwide.

“We are excited to partner with the Billhighway team to support the Company’s growth in its core MBO markets and expansion into new segments,” said Trevor Rich, Partner at Lovell Minnick. “We believe that Billhighway solves critical pain points for its clients through scalable, differentiated technology and superior client service, and we are excited to accelerate further investments in the product, the market and the team.”

Billhighway has continued to enhance its technology capabilities by developing integrations with leading member management, fundraising, and event management platforms. The Company has been highly focused on bringing together the best technology solutions and services to better serve its clients. The Company recently rolled out an in-person payments solution, an integrated housing management solution, and expanded services for MBO’s foundations and fundraising activities.

“Lovell Minnick brings invaluable experience in the financial technology and payments sectors, and we’re pleased that we have found the right partner to help us further grow our business,” said Tom Bomberski, President at Billhighway. “They are highly committed to our current clients and their investment and operational acumen will help us to continue building out our technology platform, to enable member-based organizations to transform their operations, and to capitalize on attractive market opportunities.”

“Billhighway’s platform provides MBOs with industry-leading financial and payments tools that streamline back-office tasks so MBOs can focus on their broader objectives, such as member experience and growth,” said Greg Cohen, an Operating Partner to Lovell Minnick and former president of the Electronic Transactions Association. “In partnership with Lovell Minnick, Billhighway will pursue organic and acquisitive growth opportunities to expand its footprint and position the Company for continued success.”

As part of the transaction, Trevor Rich and Greg Cohen will be joining Billhighway’s Board of Managers.

Morgan, Lewis & Bockius and Jaffe Raitt Heuer & Weiss provided legal counsel to Lovell Minnick. TPG Sixth Street Partners and Wells Fargo Bank, N.A. provided financing for the transaction.

About Billhighway
Got Chapters? Billhighway gives chapter-based organizations the tools to automate and simplify operations while creating data visibility across entire organizations. This empowers them and their chapters to focus more on member value and organizational growth.

For over the past 20 years, Billhighway has provided “best in industry” technology to help chapter-based organizations simplify and take control of chapter finances. Our partner-centric approach offers clients flexible solutions to address challenges and achieve results that help them thrive and grow. Billhighway focuses on streamlining accounting, increasing cash flow and reducing expenses so they can focus on what’s important, their members.  www.billhighway.co/
Oct 11,
2019

Foreside named Best Compliance Advisory Firm at the 2019 Fund Intelligence Operations and Services Awards
10.11.19

Foreside named Best Compliance Advisory Firm at the 2019 Fund Intelligence Operations and Services Awards

Foreside named Best Compliance Advisory Firm at the 2019 Fund Intelligence Operations and Services Awards

Foreside Financial Group, a leading provider of compliance and distribution solutions, is pleased to announce they have been named “Best Compliance Advisory Firm” at the 2019 Fund Intelligence Operations and Services Awards. The award was announced on October 10th at a ceremony in New York City.

The Fund Intelligence Operations and Services Awards recognize outstanding contributions made by business, operations, and technology leaders at asset management and service provider firms over the past year.

“We are honored that Fund Intelligence recognized Foreside as the Best Compliance Advisory Firm,” said Mark Alcaide, Senior Managing Director at Foreside. “At Foreside we see regulation not as an obstacle, but as a catalyst for innovation. Our firm pairs best-in-class technology with comprehensive and customized consulting advice to help firms in the investment management space continue to innovate, improve, and grow.”

Foreside marries innovative technology with high-touch consulting and expertise to help mitigate risk and increase operational efficiencies for firms across the asset management industry. ForesideConnectTM is one of the many technology tools Foreside has in place to align parties on compliance and timeline initiatives. Foreside’s technology solutions alleviate pain-points for clients, allowing them time to focus on their own value-adding work such as portfolio management, client service, and sales.  www.foreside.com
Sep 23,
2019

Tortoise Completes Acquisition of Advisory Research’s Midstream Energy Business
09.23.19

Tortoise Completes Acquisition of Advisory Research’s Midstream Energy Business

LEAWOOD, Kan. – Sept. 20, 2019 – Tortoise today announced it has completed its previously announced acquisition of the midstream energy asset management business of Advisory Research Inc. from Piper Jaffray Companies (NYSE: PJC).

The transaction brings together two highly experienced and tenured midstream energy pioneers with strong track records and complementary investment philosophies anchored in fundamental research. The midstream energy infrastructure team, including the leadership team of Senior Portfolio Managers Jim Cunnane, Jr. and Quinn Kiley, will maintain oversight of their current midstream energy infrastructure business and client relationships. The team brings approximately $3 billion in assets under management in balanced and equity strategies through mutual funds, separate accounts and sub-advised closed-end funds.

“We are pleased to welcome Jim, Quinn and the entire team to Tortoise,” said Tortoise Chief Executive Officer, Kevin Birzer. “This partnership underscores our shared view that the midstream sector will play an essential role in the energy transition story as the U.S. exports low-cost energy to the rest of the world.”

“We are excited to become part of the Tortoise family,” said Tortoise Senior Portfolio Manager, Jim Cunnane. “We share a passion for the midstream energy sector and see tremendous opportunities to leverage our collective industry wisdom. Most importantly, we have been actively collaborating to ensure a smooth transition for our clients.”

Financial terms of the transaction were not disclosed.

About Tortoise
Tortoise invests in essential assets – those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. For additional information, please visit tortoiseadvisors.com.
Sep 20,
2019

Lovell Minnick Partners Announces Intention to Launch Voluntary Public Takeover of Charles Taylor plc
09.20.19

Lovell Minnick Partners Announces Intention to Launch Voluntary Public Takeover of Charles Taylor plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

Jewel BidCo Limited (“LMP Bidco”), a company formed on behalf of funds advised by Lovell Minnick Partners LLC and its affiliates (“Lovell Minnick”), is pleased to announce a recommended cash offer for Charles Taylor plc (“Charles Taylor”) (“Rule 2.7 Announcement”).

This announcement should be read in conjunction with, and is subject to, the full text of the Rule 2.7 Announcement, which includes additional information about the terms and conditions of the Offer. This announcement and the Rule 2.7 Announcement will be available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on Charles Taylor’s website at http://www.ctplc.com/investors and on LMP Bidco’s website at http://www.lmpartners.com by no later than 12.00 p.m. on the Business Day following the Rule 2.7 Announcement. The content of the websites is not incorporated into, and does not form part of, this announcement. Certain terms used in this announcement are defined in the Rule 2.7 Announcement.

Under the terms of the Offer, each Charles Taylor Shareholder at the Scheme Record Time will be entitled to receive:

For each Charles Taylor Share held 315 pence in cash

In addition, under the terms of the Offer, Charles Taylor Shareholders will be entitled to receive the previously declared Interim 2019 Dividend of 3.65 pence per Charles Taylor Share to be paid on 8 November 2019 to Charles Taylor Shareholders on the Charles Taylor register of members on 11 October 2019 without any consequential reduction in the Offer Price, subject to the terms set out in paragraph 18 of the Rule 2.7 Announcement.

The Offer Price represents: 
  • a premium of approximately 34.0 per cent. to the Closing Price per Charles Taylor Share of 235 pence on 18 September 2019 (being the last Business Day prior to the date of the Rule 2.7 Announcement);
  • a premium of approximately 39.5 per cent. to the three-month volume weighted average price of 226 pence per Charles Taylor Share to 18 September 2019 (being the last Business Day prior to the date of the Rule 2.7 Announcement);
  • a premium of approximately 40.9 per cent. to the six-month volume weighted average price of 224 pence per Charles Taylor Share to 18 September 2019 (being the last Business Day prior to the date of the Rule 2.7 Announcement); and
  • a value of approximately £261 million for the entire issued and to be issued share capital of Charles Taylor on a fully diluted basis.

In order to become effective, the Scheme must be approved by a majority in number of the Charles Taylor Shareholders voting at the Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Charles Taylor Shares voted. In addition, at the General Meeting to implement the Scheme a special resolution to approve the adoption of the Amended Charles Taylor Articles must be passed by Charles Taylor Shareholders representing at least 75 per cent. of the votes cast on that resolution.

Charles Taylor is a leading international provider of professional services and technology solutions to numerous clients across the global insurance market. It operates 24 hours a day across the globe to support every stage of the insurance lifecycle and every aspect of the insurance operating model. With approximately 3,100 employees spanning 30 countries, Charles Taylor brings together the skills and expertise of people across the organisation to deliver the best possible outcomes to its clients.

Lovell Minnick has significant experience of investments in similar businesses to Charles Taylor, and is confident in the overall prospects of Charles Taylor's businesses and the sectors in which it operates. Lovell Minnick considers the Charles Taylor team to have built a high quality business and intends to support Charles Taylor by leveraging its expertise and experience of investing in global financial services companies, including related technology and business service companies.

Additionally, LMP Bidco has affirmed the importance of the management and employees of Charles Taylor to its future strategy and confirmed that following completion of the Proposed Acquisition LMP Bidco plans to safeguard the existing contractual and statutory employment rights of all Charles Taylor’s management in accordance with applicable law. LMP Bidco has also confirmed that it intends to continue to service Charles Taylor’s existing customers to a high standard.

Commenting on the Offer, Spencer Hoffman and Jason Barg, partners of Lovell Minnick, said:

“We are delighted to invest in Charles Taylor and to support David and the management team in continuing the development of the business they have built over the past years. Charles Taylor is a high-quality business, operating in a sector Lovell Minnick has a strong track record of investing in and we believe that partnering with Lovell Minnick to pursue a shared vision to grow the platform will provide benefit to clients, employees and partners.”

Commenting on the Offer, David Marock, Group CEO of Charles Taylor, said:

“I am proud of what Charles Taylor has achieved over many years for its clients, partners, employees and shareholders. These achievements have been founded on its people, innovation and commitment to excellent client service. I am confident that this acquisition by Lovell Minnick, a highly regarded investor with experience in our markets, will provide Charles Taylor with the opportunity to continue to deliver on its existing growth strategy. They understand the foundations and strengths of our group and we welcome their commitment to working with the management team to drive the business forward.”

The Offer will be put to Charles Taylor Shareholders at the Court Meeting and at the General Meeting. In order to become effective, the Scheme must be approved by a majority in number of the Charles Taylor Shareholders voting (and entitled to vote) at the Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Charles Taylor Shares voted. In addition, at the General Meeting to implement the Scheme a special resolution to approve the adoption of the Amended Charles Taylor Articles must be passed by Charles Taylor Shareholders representing at least 75 per cent. of the votes validly cast on that resolution. The General Meeting will be held immediately after the Court Meeting.

RBC Capital Markets acted as financial adviser to Lovell Minnick and Rothschild & Co acted as financial adviser to Charles Taylor. Debevoise & Plimpton LLP acted as legal adviser to Lovell Minnick and Davis Polk & Wardwell London LLP acted as lead legal advisors to Charles Taylor.

The Offer is conditional on certain antitrust and regulatory clearances including the approval of the FCA and, if relevant, the PRA and Lloyd’s in the UK, and regulatory approvals in the Isle of Man, Bermuda and the State of Texas, United States of America.

This announcement, the Rule 2.7 Announcement and the documents required to be published pursuant to Rule 26.1 of the Code will be available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on Charles Taylor’s website at http://www.ctplc.com/investors and on LMP Bidco’s website at http://www.lmpartners.com by no later than 12.00 p.m. on the Business Day following the Rule 2.7 Announcement.

About Lovell Minnick
Lovell Minnick is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Since its inception in 1999, Lovell Minnick has raised $3.3 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations, including $1.28 billion of capital committed to the Lovell Minnick Fund V. Lovell Minnick has 40 team members, of whom 21 are investment professionals, operating from offices in Philadelphia, Los Angeles and New York. Lovell Minnick provides buyout and growth capital, leveraging its deep domain expertise and network of relationships to support dynamic companies in capitalising on attractive market opportunities. Lovell Minnick focuses on developing strong working relationships with management teams and being value-added partners to help build long-term value for clients, employees and shareholders.

Lovell Minnick Partners is a growth investor with significant experience in the insurance services and related technology space. To date, Lovell Minnick has completed more than 50 portfolio company investments. Relevant examples of current and former Lovell Minnick Partners investments include: J.S. Held, Worldwide Facilities, Duff & Phelps, ATTOM and Trea Asset Management. None of Lovell Minnick Partners’ current portfolio companies compete directly or indirectly with Charles Taylor.

Important notice
This announcement and the Rule 2.7 Announcement is for information purposes only and is not intended to and does not constitute, or form part of, an offer to sell or an invitation to purchase any securities or the solicitation of an offer to buy, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, pursuant to the Offer or otherwise, nor shall there be any purchase, sale, issuance or exchange of securities or such solicitation in any jurisdiction in which such offer, solicitation, sale, issuance or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. The Offer will be made solely by means of the Scheme Document or any document by which the Offer is made which will contain the full terms and Conditions of the Offer, including details of how to vote in respect of the Proposed Acquisition.

This announcement and the Rule 2.7 Announcement have been prepared for the purpose of complying with English law and the Code and the information disclosed may not be the same as that which would have been disclosed if this announcement and the Rule 2.7 Announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

RBC Capital Markets is the trading name for RBC Europe Limited, which is authorised by the PRA and regulated by the FCA and the PRA and is a subsidiary of Royal Bank of Canada. RBC Capital Markets is acting exclusively for Lovell Minnick and LMP Bidco and for no one else in connection with the Offer and will not be responsible to anyone other than Lovell Minnick and LMP Bidco for providing the protections afforded to its clients nor for providing advice in relation to the Offer or any other matters referred to in this Announcement.

Overseas Shareholders
The release, publication or distribution of this Announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to the laws of other jurisdictions should inform themselves of, and observe, any applicable requirements. Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Offer disclaim any responsibility or liability for the violation of such restrictions by any person.

The Offer relates to shares of a UK company and is proposed to be effected by means of a scheme of arrangement under the laws of England and Wales. Neither the US proxy solicitation rules nor the tender offer rules under the US Exchange Act apply to the Offer. Accordingly, the Offer is subject to the disclosure requirements, rules and practices applicable in the United Kingdom to schemes of arrangement, which differ from the requirements of US proxy solicitation or tender offer rules. However, if LMP Bidco were to elect to implement the Offer by means of a Takeover Offer, such Takeover Offer would be made in compliance with all applicable laws and regulations, including Section 14(e) of the US Exchange Act and Regulation 14E thereunder. Such a takeover would be made in the United States by LMP Bidco and no one else. In addition to any such Takeover Offer, LMP Bidco, certain affiliated companies and the nominees or brokers (acting as agents) may make certain purchases of, or arrangements to purchase, shares in Charles Taylor outside such Takeover Offer during the period in which such Takeover Offer would remain open for acceptance. If such purchases or arrangements to purchase were to be made, they would be made outside the United States and would comply with applicable law, including the US Exchange Act.

None of the securities referred to in this Announcement have been approved or disapproved by the US Securities and Exchange Commission, any state securities commission in the United States or any other US regulatory authority, nor have such authorities passed upon or determined the adequacy or accuracy of the information contained in this document. Any representation to the contrary is a criminal offence in the United States.
Sep 17,
2019

Lovell Minnick Exits Mercer in its Recapitalization
09.17.19

Lovell Minnick Exits Mercer in its Recapitalization

DENVER, Sept. 17, 2019 /PRNewswire/ -- Mercer Advisors, a national Registered Investment Adviser (RIA) with Assets Under Management (AUM) exceeding $16.5 billion, announced today a recapitalization whereby Oak Hill Capital will acquire an equity stake in the company from current private equity owners Genstar Capital ("Genstar") and Lovell Minnick Partners.

Mercer Advisors is one of the largest independent wealth managers in the U.S., serving clients with a focus on the mass affluent and high net-worth markets. Based in Denver, Mercer Advisors has a national footprint with 44 offices and over 370 employees. The Company has nearly 35 years of wealth management experience and differentiates itself as a total wealth manager serving investors as a fiduciary and providing a broad range of services including financial planning, investments, estate planning and tax planning and preparation services.

Under Genstar's and Lovell Minnick's ownership since Genstar's original investment in 2015, Mercer Advisors' AUM has grown dramatically, driven by addition of new client assets and acquisitions of other advisory firms from less than $5.8 billion in AUM to over $16.5 billion in AUM. In that span, Mercer Advisors invested heavily in enhancing its services for clients including the expansion of its investment offerings, significantly adding talent and expertise to its estate and tax planning teams, and extending its regional office footprint to over 40 regional offices. Mercer Advisors also enhanced its referral relationships with Charles Schwab, E*TRADE, Fidelity Investments, and TD Ameritrade. Over the past three-and-a-half years Mercer Advisors has completed 23 acquisitions that expanded its footprint, talent and expertise. In addition, in 2018, Mercer Advisors opened a new, full-service "Central Hub" headquarters in Denver to house multiple teams and functions to better support the dozens of Mercer Advisors' regional offices.

Dave Welling, Chief Executive Officer of Mercer Advisors, said, "Mercer Advisors' vision centers on our unconditional commitment to our clients and working collaboratively with them to create the best context possible for their Economic Freedom™. With the support of our private equity partners we have been able to make significant investments in building a comprehensive set of services for our clients and in expanding that vision to new parts of the country." Added Welling, "Genstar Capital and Lovell Minnick were instrumental in our development and we are delighted that Genstar will be staying on as an investor and partner. Our future is even brighter with Oak Hill being added as a strategic investor. Key to our process in selecting Oak Hill as our partner was the unique combination of cultural alignment and their expertise in supporting management teams leading growth and change."

Steve Puccinelli, Partner of Oak Hill, said, "Mercer Advisors is a unique integrated registered investment adviser with multiple levers to compound value and is well-positioned to further accelerate its already impressive growth. We are excited to partner with CEO Dave Welling, his outstanding team, and existing investor Genstar to further help the company expand organically and through strategic acquisitions."

Tony Salewski, Managing Director of Genstar, said, "We are extremely gratified by the success of Mercer Advisors, having worked with management to create a strategic wealth management platform that delivers a truly integrated and robust client experience. Through a dynamic blend of organic and inorganic growth, the business has rapidly achieved scale and established itself as a market-leading RIA with immense future potential. We are excited to continue as investors and look forward to further building Mercer Advisors in our new partnership with Oak Hill."

"We have enjoyed our collaboration with the Mercer Advisors management team for over a decade. They have performed at a very high level and achieved premier status in wealth management. We wish the team continued success as the Company writes its next chapter," said Jeffrey Lovell, Co-Chairman of Lovell Minnick Partners.

Goldman Sachs & Co. served as lead financial advisor, Moelis & Company LLC assisted as financial advisors, and Willkie Farr & Gallagher LLP served as legal counsel to Mercer Advisors on the transaction. UBS served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Oak Hill Capital on the transaction.

About Mercer Advisors
Established in 1985, Mercer Global Advisors Inc. ("Mercer Advisors") is a total wealth management firm that provides comprehensive, fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, asset protection expertise, and corporate trustee and trust administration services. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $16.5 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 370 employees, and operates nationally through 44 offices across the country. For more information, please visit: www.merceradvisors.com.

About Oak Hill Capital
Oak Hill Capital is a private equity firm managing funds with approximately $15 billion of initial capital commitments and co-investments since inception. Over the past 33 years, Oak Hill Capital and its predecessors have invested in over 90 private equity transactions across broad segments of the U.S. and global economies. Oak Hill Capital applies an industry-focused, theme-based approach to investing in the following sectors: Consumer, Retail & Distribution; Industrials; Media & Communications; and Services. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. For more information, please visit: www.oakhill.com.

About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $17 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrial technology, and software industries. For more information on Genstar, please visit: www.gencap.com.

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. The firm partners with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since its inception in 1999, Lovell Minnick Partners has become a leader in their chosen space, raising $3.3 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, the firm has completed more than 50 portfolio company investments.
Sep 12,
2019

Real Estate Innovator and Visionary, Steve Ozonian, Joins Board of Directors at Inside Real Estate
09.12.19

Real Estate Innovator and Visionary, Steve Ozonian, Joins Board of Directors at Inside Real Estate

DRAPER, Utah, Sept. 12, 2019 /PRNewswire-PRWeb/ -- Inside Real Estate, one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 top brokerages, agents & teams announced this week the appointment of Steve Ozonian to its Board of Directors. Known as a visionary leader in the real-estate tech space, Ozonian brings over 3 decades of experience serving in executive roles at Coldwell Banker Real Estate, Prudential Real Estate & Relocation, and REALTOR.com.

"We're thrilled to welcome Steve to our board," said Ned Stringham, CEO of Inside Real Estate. "Steve brings a wealth of knowledge and relationships having successfully led companies through many facets of the real estate industry. His experience and perspective will be invaluable as Inside Real Estate expands its reach, partnering with the most prominent brokerage and franchise brands in real estate today."

Named a Top Innovator and influential leader by The National Association of Realtors and other prominent media outlets, Ozonian has a long history of driving innovation at the intersection of real estate and tech. After serving as a senior executive at Coldwell Banker Real Estate and Chairman and CEO of Prudential Real Estate & Relocation, Ozonian went on to serve as the CEO of REALTOR.com, one of the leading real estate consumer portals in the United States. After his tenure at REALTOR.com, Ozonian also served as the CEO of RealEstate.com and is currently the lead independent director of Lending Tree and CEO of Williston Financial.

"I believe Inside Real Estate is uniquely positioned to dominate the real estate software space," said Steve Ozonian. "They've gained substantial traction and scale in a highly fragmented industry thanks to a winning strategy, experienced team and a powerful software platform which drives real results for the agents, teams and brokers they serve. I'm honored to join their board and participate in their continued growth."

Ozonian's appointment comes on the heels of substantial revenue growth for Inside Real Estate which has brought on hundreds of top brokerages to its flagship platform, kvCORE, so far this year and has doubled down on its long-term strategy with a new primary financial backer, Lovell Minnick Partners.

About Inside Real Estate
Inside Real Estate is one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 agents, teams and top brokerages. The company's flagship platform, kvCORE, is a modern and comprehensive solution known for delivering profitable growth at every level of a brokerage organization. Built with a scalable and flexible infrastructure, kvCORE enables brokerages to create their own unique technology ecosystem to enhance and differentiate their brand and culture. With an accomplished leadership team and over 175 employees, Inside Real Estate brings the resources, scale and vision to deliver ongoing innovation and success for its growing customer base. Learn more at insiderealestate.com.
Sep 11,
2019

RIA Intel: Mega-RIAs Are on the Prowl. But a Bad Deal Can Quickly Backfire on an Advisor.
09.11.19

RIA Intel: Mega-RIAs Are on the Prowl. But a Bad Deal Can Quickly Backfire on an Advisor.

Giant RIAs are aggressively targeting fast-growing, high net worth-focused firms. Before acting, advisors should pay heed to these key considerations.

By David Sterman
September 10, 2019

Throughout an advisor’s career, major milestones justify the celebratory popping of top-notch champagne.

Be it the first multi-millionaire client, the first year that managed assets surpass $100 million, or when a multi-advisor team crosses the billion-dollar threshold, a great sense of accomplishment is well deserved.

What to do next, though, is often the hardest part.

While many advisors are content to keep adding clients in a slow and steady organic manner, some want to jumpstart growth by joining forces with a larger firm to leverage growth and derive the benefits of scale. Of course, a decision to sell a practice may simply come down to prudent succession planning.

In the past, a common next step would have been to reach out to nearby planning and wealth management peers to see if they represented a good fit for existing clients.

Yet in the past few years, the decision to merge or sell, already an emotionally fraught question, has become far more complex as a new wave of mega-RIAs with ambitious expansion plans has created a whole new class of industry buyers.

Knowing more about these mega-RIAs, their growth strategies, and most importantly, how they can help serve existing clients, are key factors to understand before acting.

To be sure, many of the new massive RIAs under construction promise to solve a basic set of challenges. They can help a firm monetize (i.e. cash out) after years of building a wealth management practice. Or they can bring in fresh tools to help grow a base of clients, and managed assets.

Focus Financial Partners typifies the new breed of acquisition-driven firms. As part of its investor presentation, the firm lays out a fairly mundane set of reasons for selling your practice to Focus, citing virtues such as “an alignment of values,” an adherence to “fiduciary standards,” ample marketing resources, and “access to strategy.”

Beyond that kind of marketing pablum, Focus and its ilk also offer to take the managerial aspects of running a business off a company’s plate, usually for a hefty slice of cash flows. This kind of basic straightforward approach may be just fine for some advisors.

“You can’t convince someone to be an entrepreneur,” says Louis Diamond, executive vice president at industry recruiter Diamond Consultants. “Not everyone is well-suited to control various aspects such as marketing, technology, social media and office supervision.”

Yet for advisors (and their advisory teams) that instead want to pursue more robust and targeted growth, other massive RIA-focused aggregators offer more specific skill sets to help catalyze growth.

Take Lovell Minnick Partners as an example. The private equity-backed firm has been cobbling together a broad range of financial services firms, not just asset managers, in a bid to create an advanced toolset for advisors at its captive RIA firms.

“We’re fascinated by the recurring themes across financial services, which you cannot identify unless you have a broader lens,” says Brad Armstrong, a partner at the firm. “For example, we see the abundance of data and potential for AI and automation, an evolutionary change that’s playing out in areas beyond just wealth management – we’re also seeing it unfold in specialty finance, asset management, and other sectors within financial services.”

From compliance to fintech to analytics, Lovell Minnick helps provide acquired RIA firms with a very broad ecosystem of tools and a network of relevant contacts for business and corporate development that they may have lacked when they operated independently, says Armstrong.

“We’re heavily invested in our companies’ success and get excited about adding value,” says Armstrong, who adds, “we have over twenty companies pursuing growth strategies; while each has its own mission, we enjoy helping them deploy best practices we see elsewhere in the portfolio. In wealth management, an important toolkit today is the ability to drive an M&A strategy – our companies have made over 80 add-on acquisitions and average more than one a month, so we have the experience base and resources in-house to draw from.”

Along with a growing base of captive RIAs now under the Lovell Minnick umbrella, the firm also owns industry vendors such as Attom Data Solutions, which provides real estate industry analytics, SRS Acquiom, a provider of M&A settlement support, LSQ Funding Group, which offers working capital management tools, and One Zero Financial, which sells foreign exchange trade management software.

Emigrant Partners takes a different approach in support of RIA firms, eschewing traditional buyouts and focusing instead on providing access to growth capital (usually in the form of loans and cash flow participation), along with strategic advice.

Structuring the deals that way brings several key advantages.

“Firms maintain their independence and operating autonomy, and we stay out of their board rooms. These features are important to their founders, next gen and clients,” says Karl Heckenberg, Emigrant Partners’ CEO. Instead, his firm is focused on providing the kind of mentorship that can lead to higher AUM and profits.

As just one example, Emigrant established a partnership with Minneapolis-based NorthRock Partners this past April, and is already helping NorthRock devise strategies to drive rapid growth in high net worth relationships.

Heckenberg says that “North Rock is already on pace to double in size compared to when we first linked up.”

As is the case with Lovell Minnick, Emigrant Partners aims to bring in resources from other divisions to aid its RIA portfolio members’ growth strategies. Heckenberg cites services that can be offered from other subsidiairies at Emigrant Bank such as trust administration, property & casualty advisory, fine art finance, and other specialty lending and advisory capabilities.

Emigrant Partners is a part of New York Private Bank & Trust, which is an atypical industry backer of RIAs. Most of the industry’s growth capital is coming these days from private equity, other RIAs, and in rare cases, investment banks.

New York Private Bank & Trust also operates a separate RIA consolidator under the leadership of Heckenberg, known as Fiduciary Network. RIAs under that umbrella have asset management bases ranging from around $1 billion to $12 billion, with the average holding controlling $3 billion in AUM.

Emigrant Partners, Lovell Minnick Partners and other more selective industry operators share a key common trait: a desire to tap into the high net worth and corporate clients.

Advisors and their teams with such relationships will always be in high demand, says Carolyn Armitage of industry consultant Echelon Partners.

“I’ve seen advisors make an entire career off of one corporate client,” she says, adding that providing planning services to corporate executives, helping with areas such as stock options exercises, can be very lucrative for advisors.

A focus on high net worth clients isn’t the only key criterion for these selective RIA investors. Heckenberg says that his firm looks at 40 to 50 deals per year, and most of them aren’t growing organically.” His firm only looks to invest in firms that are already on the growth fast-track.

For firms like Emigrant, the talent bench at a potential acquisition is also a key consideration. Heckenberg says his firm is “heavily focused on internal succession. We spend as much time with the next gen leadership at the firm as we do with the founders.

Not all firms aim towards the premium client and rapid growth end of the market. Captrust Financial Advisors, for example, has a large defined contribution plan business, which helps advisors open the door for 401(k) relationships to sprout into full planning engagements.

Edelman Financial Engines is now the nation’s largest RIA, thanks to a similar approach that builds out from a core set of retirement plan management offerings.

These firms and other large RIAs are making heavy investments in digital planning technologies to help advisors streamline their processes and carve out more time to spend with clients (or look for new clients).

“Advisors tend to be laggards when it comes to technology,” says Tim Welsh, CEO of industry consultant Nexus Strategy. He adds that “many smaller practices simply lack the resources to spend a lot on technology.”

The good news: Welsh says that “there has been a renaissance in terms of advisor technology, in areas such as Customer Relationship Management (CRM), rebalancing software, tax planning efficiency software and others,” which is helping advisors to become much more efficient.

While Edelman Financial Engines has historically been focused on retirement plan management for the bulk of its asset growth, the firm now sees a growing set of tech tools as a key differentiator for clients as well.

“We want to scale our business on the retail side, using technology to help our advisors handle more clients,” says CEO Larry Raffone.

Indeed, the growing use of technology—by both advisors and clients alike—can be seen as an opportunity to stay on the industry’s vanguard. Millennial clients are especially well-adapted to a tech-driven financial planning approach.

The flip side of that trend is that any advisors with long-standing (and perhaps aging) clients may be ill-equipped to compete for next generation clients if they fail to evolve.

Raffone says his firm will continue to invest in firms that can bring more tech arrows into the quiver.

“We’re always on the lookout for vendors that can expand our digital offerings,” he says.

Even as Edelman Financial Engines has been at the forefront of the robo-advisory trend, he doesn’t consider it a major threat to the industry.

“Robo isn’t a business, it’s a capability,” he says. “For more complicated financial pictures, you still need to have a strong human connection. As far as he’s concerned, “digital services offer a path to create a better client experience, even for older advisors.”

The growing use of digital tools in planning and wealth management is also a defensive measure, as they can lower costs. Raffone cites the growing use of virtual planning as just one example.

“Planning fees are coming down and you can’t spend too much time on face-to-face meetings if you want to efficiently manage your time and your clients’ time,” he notes.

At the risk of oversimplifying the current landscape of large RIAs, we’re entering a bifurcated world in which high net worth-focused firms with ambitious growth plans sit squarely in the crosshairs of the industry’s most selective deal makers.

At the other end are firms that have a mass affluent client base and are looking to simply better mange their platforms and perhaps enable succession plans.

Picking the right investor is critical to a firm’s success. It also will ensure that the bubbly keeps flowing.
Sep 10,
2019

Lovell Minnick Partners Raises $1.28 Billion for Fifth Fund, Achieves Hard Cap for Fund to Invest in Financial and Business Services
09.10.19

Lovell Minnick Partners Raises $1.28 Billion for Fifth Fund, Achieves Hard Cap for Fund to Invest in Financial and Business Services

PHILADELPHIA, LOS ANGELES and NEW YORK – SEPTEMBER 10, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced that it has completed fundraising for Lovell Minnick Equity Partners V LP (“Fund V”) at $1.28 billion. Fund V, which was oversubscribed, exceeded its $1 billion target and achieved its hard cap.

Lovell Minnick secured commitments to Fund V from a diverse group of investors including U.S. and international public and private pension funds, insurance companies, endowments and foundations, asset managers and family offices.

“We are grateful for the strong support we received from existing investors, as well as confidence in our strategy from many new investors in the U.S. and abroad,” said Steve Pierson, Managing Partner at Lovell Minnick Partners. “Fund V will enable us to continue pursuing our proven thematic approach to investing and partnering with outstanding management teams to support them in growing their companies.”

“Our successful fundraise and the appeal of our strategy reflects our proven demonstrated ability to consistently drive positive investment outcomes, and we continue to see strong demand for our capital and business-building expertise in some of the most compelling subsectors within financial and business services today,” said Robert Belke, Managing Partner at Lovell Minnick Partners.

Lovell Minnick’s Fund V will continue the same focused strategy as its predecessor funds, investing in middle market businesses in the Americas and Europe where the firm can apply its industry experience, vast network and business-building acumen to help them grow. Lovell Minnick will generally target equity investments of between $40 million and $150 million, although it has in the past and expects in the future to complete much larger investments with co-investors.

“We’re excited to begin the next chapter of our growth as we celebrate the closing of Lovell Minnick’s oversubscribed fifth fund and the firm’s 20th anniversary. We look forward to continue serving as trusted stewards of our investors’ capital amid the rapidly changing and growing opportunity set in the financial services industry,” said Jeffrey Lovell and James Minnick, Co-Chairmen at Lovell Minnick Partners.

With the closing of Fund V, Lovell Minnick has raised $3.3 billion since its inception in 1999. Lovell Minnick has had a busy 2019, investing in three new platforms: real estate data provider ATTOM Data Solutions, FX trading technology solutions provider oneZero and real estate software company Inside Real Estate; successfully exiting three portfolio companies: Commercial Credit, J.S. Held and Worldwide Facilities; and completing nine add-on acquisitions across its portfolio.

Evercore Private Funds Group acted as exclusive global placement agent, and Kirkland & Ellis LLP as fund formation counsel, to Lovell Minnick.

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. We partner with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since our inception in 1999, we have become a leader in our chosen space, raising $3.3 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, we have completed more than 50 portfolio company investments.

We seek companies in the Americas and Europe where we can apply our industry expertise and business-building acumen to drive attractive outcomes. Targeted investment areas include asset management, wealth management, specialty finance, insurance brokerage and services, financial and insurance technology, payments, and related business services. For more information, please visit www.LMpartners.com.
Aug 20,
2019

Lovell Minnick Partners Announces Investment in Inside Real Estate
08.20.19

Lovell Minnick Partners Announces Investment in Inside Real Estate

New Investment Positions Leading Real Estate Technology Business for Accelerated Growth

PHILADELPHIA, LOS ANGELES, NEW YORK – AUGUST 20, 2019 — Lovell Minnick Partners, LLC, (“LMP”) a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, today announced it has entered into an agreement to acquire a majority stake in Inside Real Estate, (“the Company”) a leading end-to-end SaaS platform serving the residential real estate market. Financial terms of the transaction were not disclosed.

Headquartered in Salt Lake City, Inside Real Estate provides an end-to-end software solution to residential real estate brokers, teams and agents that empowers their ability to manage the full cycle of home property buying and selling. Founded in 2008, the Company’s platform serves over 200,000 top agents, teams and brokerages, enabling them to manage the complete front-end marketing and sales processes for home purchases and sales, and back office functions, such as accounting and commission payments.

“Inside Real Estate is a highly trusted partner for its differentiated and end-to-end SaaS platform that enables residential realtors, teams and agents across North America to compete more effectively and deliver positive results for their clients,” said John Cochran, a Partner at Lovell Minnick Partners. “We are excited to support CEO Ned Stringham and his team, who have built a robust platform delivering an incredibly innovative and complete technology solution to serve today’s top performing real estate professionals.”

“LMP has an exceptional investment track-record of backing strong, growth-oriented financial technology businesses, including those in real estate, and it’s an honor to have their confidence and support,” said Stringham. “We’re excited to partner with a firm that will enable Inside Real Estate to remain an independent, reliable and innovative tech partner that supports the growth of our customers’ real estate businesses for years to come.”

Inside Real Estate has experienced strong recent momentum in partnering with some of the top brokerages in the country. The Company has continued to invest in building out its product suite and has recently expanded its marketplace to include new products.

“Inside Real Estate’s advanced kvCORE platform meets the needs of our nation’s most innovative brokers, teams and agents who have come to recognize the value that its next generation platform offers as compared to other siloed vendor solutions,” said Jason Barg, a Partner at Lovell Minnick Partners. “This transaction builds on our firm’s history of partnering with management teams and founders of technology-enabled financial and related business service companies. We are excited about the opportunity to support the Company’s growth through strategic acquisitions and organic initiatives, in addition to building out Inside Real Estate’s technology solutions.

GCA acted as an exclusive financial advisor to Inside Real Estate in the transaction. Morgan, Lewis & Bockius served as legal counsel to LMP, while Parr Brown Gee & Loveless served as counsel to Inside Real Estate.

About Inside Real Estate
Inside Real Estate is one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 agents, teams and top brokerages. The company’s flagship platform, kvCORE, is a modern and comprehensive solution known for delivering profitable growth at every level of a brokerage organization. Built with a scalable and flexible infrastructure, kvCORE enables brokerages to create their own unique technology ecosystem to enhance and differentiate their brand and culture. With an accomplished leadership team and over 175 employees, Inside Real Estate brings the resources, scale and vision to deliver ongoing innovation and success for its growing customer base. Learn more at insiderealestate.com
Aug 20,
2019

Lovell Minnick Partners' 2019 Executive Summit
08.20.19

Lovell Minnick Partners' 2019 Executive Summit

We hosted our annual Executive Summit in May, bringing together senior management from our portfolio companies to share insights, experiences and best practices.

Discussions included:
  • Using Marketing to Deliver Business Results and Create Real Value
  • Promoting Excellence: The Mind Science Behind Creating Workplace Diversity
  • Sales Organization Strategy
  • Leadership and Organization Development

Our 4th annual Executive Summit will be held in May 2020.

Lovell Minnick Executive Summit 2019  Lovell Minnick Executive Summit laughs

Lovell Minnick Executive Summit conversation  Lovell Minnick Executive Summit roundtable 3
Aug 19,
2019

CenterSquare Investment Management Expands Real Assets Platform with Acquisition of Real Estate Debt Manager RCG Longview
08.19.19

CenterSquare Investment Management Expands Real Assets Platform with Acquisition of Real Estate Debt Manager RCG Longview

New York, August 19, 2019 – CenterSquare Investment Management, a leading global real assets investment manager, today announced that it has entered into a definitive agreement to purchase private real estate debt manager RCG Longview. The transaction brings together two highly experienced real estate managers with strong track records and complementary investment philosophies.

Founded in 1999 and headquartered in New York City, RCG Longview provides debt capital solutions for owners and operators of real estate. To date, the Firm has completed over 550 transactions with a total capitalization of over $4 billion. Founded in 1987, CenterSquare Investment Management has approximately $11 billion in assets under management in U.S. and global listed real estate and infrastructure, and private equity real estate investments.

“We are excited to welcome the RCG Longview team to our organization,” said Todd Briddell, CEO and CIO of CenterSquare. “In addition to adding deep capabilities in real estate debt, the RCG Longview track record, reputation and culture are a terrific fit for CenterSquare. Under the leadership of Michael Boxer and Richard Gorsky, this transaction brings an exceedingly talented group of professionals to manage and grow the combined firm’s debt strategies. As a complement to our existing real assets platform, this transaction allows CenterSquare to selectively expand our best-in-class investment offerings to meet the evolving needs of our clients.”
“Joining CenterSquare will position our firm to continue growing our investment strategies, providing new opportunities for us to work with existing and new clients,” said Michael Boxer, Founding Partner at RCG Longview. “We were attracted to CenterSquare’s premier reputation, long and successful track record, and like-minded focus on the importance of people and relationships. We are excited to become part of the CenterSquare team and gain additional resources that will better serve our clients.”

The acquisition of RCG Longview follows CenterSquare’s management buyout from the Bank of New York Mellon in January 2018, in conjunction with Lovell Minnick Partners, a private equity firm focused on financial services companies. As an independent firm, CenterSquare has sought to expand its real assets footprint through organic growth and select inorganic acquisitions into new strategies. Following the acquisition, CenterSquare will manage in excess of $12 billion across four key business lines – private equity real estate, private real estate debt, listed real estate and listed infrastructure.

Financial terms of the private transaction were not disclosed. The transaction is expected to be completed by year end 2019.

In connection with this transaction, Berkshire Global Advisors LP acted as financial advisor and Stroock & Stroock & Lavan LLP acted as legal advisor to RCG Longview. Stradley Ronon Stevens & Young, LLP acted as legal advisor to CenterSquare.

About CenterSquare
CenterSquare is a global investment manager focused on actively managed real estate and infrastructure strategies. Founded in 1987, CenterSquare manages approximately $9.5 billion of real estate and infrastructure securities through CenterSquare Investment Management, Inc. and approximately $1.1 billion (gross) of private equity real estate investments as of June 30, 2019. It manages investments for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors.  https://www.centersquare.com/

About RCG
RCG Longview is a private real estate investment manager focused primarily on private real estate debt strategies. Founded in 1999, RCG Longview managed approximately $1.8 billion of private real estate debt and equity investments as of December 31, 2018. It manages investments for institutional investors and high net worth individuals throughout the US. https://www.rcglongview.com/
Aug 14,
2019

ATTOM Data Solutions Appoints Martha Notaras to its Board of Directors
08.14.19

ATTOM Data Solutions Appoints Martha Notaras to its Board of Directors

With this appointment, ATTOM’s Board of Directors expands to five governing members.

IRVINE, Calif. – August 14, 2019 - ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), is pleased to announce the appointment of Martha Notaras, to its Board of Directors, effective immediately.

“We’re delighted to have Martha Notaras join our Board and we look forward to her valuable contributions,” said Rob Barber, CEO, ATTOM Data Solutions. “Martha’s deep professional background and corporate development experience in technology, information and financial service companies, will continue to strengthen our position as the premier one-stop shop for high-quality real estate data and fuel future growth and innovation.”

This announcement comes on the heels of ATTOM most recently being acquired by Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies.

Notaras is a partner at venture capital fund, XL Innovate, investing in insurtech and fintech, including startups focused on data and analytics, as well as new business models. She serves on the boards of four of XL Innovate’s portfolio companies: Cape Analytics, Pillar Technologies, GeoQuant and Notion.

“I am delighted to serve on the ATTOM Data Solutions Board of Directors,” said Martha Notaras. “ATTOM is transforming the future of property data through innovative technology and I look forward to helping power this innovation by guiding strategic initiatives to expand ATTOM's reach into various industries, with a strong focus on insurance-specific solutions.”

Previously, Notaras ran corporate development for the business data and analytics division of the Daily Mail and General Trust plc. Of the 20 investments Notaras made, two achieved and maintained valuations over $1 billion. Notaras has served as board director for companies that are in early and growth stages, with a focus on fintech, insurtech, proptech, edtech and digital media. Notaras’s prior experience includes investment banking at Merrill Lynch and commercial banking at Credit Suisse. Notaras earned her A.B. cum laude from Princeton University and her MBA from Harvard Business School, where she was a Baker Scholar, awarded for graduating in the top five percent of the class.

The 2019 ATTOM Data Solutions Board of Directors also consists of Rob Barber, CEO, ATTOM Data Solutions; Steve Ozonian, CEO of Williston Financial Group and Lead Director of LendingTree; John D. Cochran, Partner of Lovell Minnick and a member of its Investment Committee and its Management Committee; and Jason S. Barg, Partner of Lovell Minnick.

About ATTOM Data Solutions
ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk property data licensing, Property Data APIs, market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).  https://www.attomdata.com/
Aug 08,
2019

Lovell Minnick Partners Promotes Scott Shebelsky to CFO
08.08.19

Lovell Minnick Partners Promotes Scott Shebelsky to CFO

Firm Continues to Strengthen Senior Leadership Team

PHILADELPHIA, LOS ANGELES, NEW YORK – August 8, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, today announced that Scott Shebelsky has been promoted to Chief Financial Officer. Shebelsky joined the firm in 2016 as Vice President of Finance and Chief Compliance Officer.

“We are pleased to recognize Scott’s significant contributions and proven leadership of our financial, accounting and compliance functions,” said Steve Pierson, Managing Partner at Lovell Minnick Partners. “Scott has also led important technology-driven initiatives that have helped improve the firm’s operational efficiency. His promotion reflects our continued emphasis on further building our senior leadership talent as we continue to grow, ”added Robert Belke, Managing Partner at Lovell Minnick Partners.

Shebelsky joined Lovell Minnick after leading Corporate Development, at Preferred Sands, Inc. His responsibilities included driving the company’s overall M&A and corporate strategy, and managing the tax, treasury, and risk management functions. Shebelsky is a CPA and formerly Senior Consultant with Deloitte Tax.

Shebelsky earned an LL.M in Taxation from the Villanova University School of Law, his J.D. from the Widener University School of Law, and holds a B.S. in Accounting from Pennsylvania State University.
Aug 07,
2019

Lovell Minnick to Exit Investment in Worldwide Facilities, Genstar Capital to Become New Investor in Leading National Wholesale Insurance Broker
08.07.19

Lovell Minnick to Exit Investment in Worldwide Facilities, Genstar Capital to Become New Investor in Leading National Wholesale Insurance Broker

Worldwide to Benefit from Expanded Access to Capital to Fuel Next Chapter of Growth

RADNOR, PA, LOS ANGELES and SAN FRANCISCO, CA – AUGUST 7, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, and Genstar Capital, a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrial technology, and software industries, today announced the signing of a definitive agreement in which Lovell Minnick will exit its investment in Worldwide Facilities, LLC (“Worldwide” or “the Company”), a national wholesale insurance brokerage, managing general agency and program manager, and Genstar will become a new investor in Worldwide. Financial terms of the private transaction were not disclosed.

“It has been a privilege to partner with the Worldwide management team over the past four years. We’re proud to have supported the Company in executing its strategic goal of becoming a larger, more diversified, top-five insurance wholesaler in the US market,” said Spencer Hoffman, a Partner at Lovell Minnick Partners. “We believe Worldwide is well-positioned for continued growth and success as it begins its next chapter of partnership with Genstar.”

Headquartered in Los Angeles, Worldwide is one of the largest national wholesale insurance brokerage, managing general agent and program underwriters in the U.S. Founded in 1970, the Company has dedicated teams of product line specialists across its brokerage, managing general agent and program underwriter business units. With over 700 employees in 37 offices, Worldwide serves as the managing general agent for several leading carriers and provides a wide range of underwriting, rating, binding and policy issuance services.

“Given our focus investing in the insurance sector, we have tracked Worldwide for many years, and have been impressed with the company’s significant growth,” said Ryan Clark, President and Managing Director at Genstar. “The management team is outstanding and has established Worldwide as an employer and platform of choice, and we believe there are multiple opportunities to continue organic growth and strengthen its position as a leading independent wholesale broker, MGA and program manager. Importantly, we expect to support strategic add-on acquisitions that will further scale the business and enhance its technology and product offerings to create innovative solutions for its clients.”

“We would like to thank Lovell Minnick Partners and our Board of Directors for their support of the strategic initiatives we sought to achieve together. Together, we completed eight acquisitions, added high quality producers and management talent, and achieved above average organic growth while building a specialized and diversified platform designed to continue to increase our relevance in the market for years to come,” said Davis Moore, Chairman & CEO of Worldwide. “We’ve successfully executed on our strategy to create a market-leading national wholesale insurance broker, managing general agent and program underwriter, with immense domestic and international reach,” added President Ronald Austin. “Looking forward, Worldwide Facilities has a very bright future and we’re excited about the opportunities to continue delivering significant value and service to our customers as we enter the next chapter of our growth in partnership with Genstar Capital.”

“The growth at Worldwide has been terrific, significantly outpacing the market’s average organic rate, while complementing that growth through strategic acquisitions and other investments. This is consistent with our desire to work with companies in which we can bring our deep industry knowledge, help identify strategic opportunities for growth, and continually invest in the further institutionalization of great, growing businesses,” added Trevor Rich, a Partner at Lovell Minnick Partners.

The transaction is expected to close in the third quarter of 2019 and is subject to customary closing conditions. Morgan Stanley & Co. LLC and Waller Helms Advisors acted as financial advisors to Lovell Minnick and Worldwide Facilities in connection with the transaction, while McGuireWoods LLP served as legal counsel to Lovell Minnick. Marsh, Berry & Co. acted as financial advisor, and Ropes and Gray LLP as legal counsel to Genstar.


About Worldwide Facilities
Worldwide Facilities, LLC, is a national wholesale insurance broker, managing general agent and program manager that has been in business since 1970. Its brokers and underwriters are industry leaders providing expertise in a wide range of specialty lines, as well as extensive contacts with carriers domestically and overseas. For more information, please visit www.wwfi.com.

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $3.2 billion in committed capital and has completed investments in over 50 platform companies. Targeted investment areas include asset management, wealth management, investment product distribution, specialty finance, insurance and brokerage services, financial and insurance technology, and related business services. Over its twenty-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, without relying upon excessive financial leverage. 

About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $17 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrial technology and software industries.
Jul 24,
2019

SRS Acquiom Adds to Board
07.24.19

SRS Acquiom Adds to Board

SRS Acquiom is pleased to announce Scott C. Ganeles, an accomplished financial services executive, has joined the company’s Board of Directors. Scott previously served as Chief Executive Officer of Ipreo Holdings LLC (“Ipreo”), a leading financial services solutions and data provider for capital market participants. Under Scott’s leadership, Ipreo’s business and market share grew significantly and attracted notable equity investors including Kohlberg Kravis Roberts & Co L.P. (KKR), Blackstone (NYSE: BX) and the Goldman Sachs Merchant Banking Division. Ipreo was acquired in 2018 by IHS Markit (Nasdaq: INFO), a leading critical information, analytics and solutions company.

Scott began his career as President of the Carson Group (“Carson”), a financial information services firm focused on corporate strategic intelligence and investor relations. As a co-founding Partner of Carson, Scott was one of the prime architects and leaders in Carson’s development from a start-up to a multimillion dollar enterprise. Scott is currently a Partner at WestCap, a private investment platform with a focus on driving operational excellence and sustainable long term value creation. He holds a BA in Political Science from Brown University.

“Scott is an experienced leader with an impressive track record of growing and leading tech-enabled services companies across the capital markets space,” said SRS Acquiom Co-Founder and CEO Paul Koenig. “We are thrilled to have him join our board and provide his expertise during a period of continued growth for SRS Acquiom, as we continue to enhance our ability to offer market-leading M&A and Loan Agency services to clients across the world.”

About SRS Acquiom

SRS Acquiom offers the most comprehensive platform to help deal parties manage complex financial transactions within mergers & acquisitions, and bilateral or syndicated loan deals. Our solutions include escrow agent and payment services, online pre-closing solicitation, representations and warranties insurance brokerage, professional shareholder representation, and for loan and credit transactions, administrative, collateral and sub-agent services. Since 2007, we have helped businesses, investors, lenders, and advisors complete transactions as efficiently and effectively as possible, so they can focus on building strong businesses, and maximizing value.  www.srsacquiom.com
Jul 22,
2019

Foreside Recognized for Outstanding Achievement in Supporting Client Success and for its Technology, Foreside AdCompliance®
07.22.19

Foreside Recognized for Outstanding Achievement in Supporting Client Success and for its Technology, Foreside AdCompliance®

Foreside is proud to announce that it has been named a finalist for two industry awards in connection with its compliance services and proprietary technology, Foreside AdCompliance®, that saves clients time and money reviewing advertising materials:

  • WealthManagement.com 2019 Industry Awards in the Compliance/Law Firm Category
  • Fund Intelligence Operations and Services Awards 2019 for Best Compliance Advisory Firm

Winners will be announced in September and October respectively.

As a leading provider of governance, risk and compliance solutions, Foreside is committed to designing, building and delivering innovative solutions for clients, including customized, business-focused compliance consulting services, supported by best-in-class technology.

Foreside’s newly rebuilt proprietary Ad Review system, Foreside AdCompliance®, provides best-in-class technology to support our consulting clients or as a licensed product for in-house use through a secure SaaS platform. Foreside developed this new proprietary marketing compliance review system using state of the art cloud technology. Foreside AdCompliance® promotes collaboration, evidences principal approval of material and maintains compliant books and records. It is an efficient tool to aid in the review of marketing materials without faxing, emailing, scanning, handwriting, and saving multiple documents offline during the review process. It saves clients time and money. We believe in it so strongly that we use it ourselves.

The advanced capabilities of Foreside AdCompliance® come from our many years of experience owning and operating advertising compliance systems. This system was designed with the user in mind – whether that be marketing departments who create the materials, compliance departments who sign off on the materials or management teams who use the system as a workflow management tool. Foreside AdCompliance® saves time and adds value across an organization as a robust workflow management tool.

To keep up with the dynamic regulatory environment, Foreside recently enhanced the system to make it GDPR compliant and included additional management reporting capabilities. It is an important step in ensuring our clients are operating on the most compliant, and effective systems.

www.foreside.com
Jun 25,
2019

Lovell Minnick Partners Makes Investment in oneZero Financial Systems
06.25.19

Lovell Minnick Partners Makes Investment in oneZero Financial Systems

Positions Premier FX Technology Solutions Business for Accelerated Growth

PHILADELPHIA, LOS ANGELES and NEW YORK, June 25, 2019 – Lovell Minnick Partners (“LMP”), a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced it has completed a significant minority investment in oneZero Financial Systems (“oneZero” or “the Company”). oneZero is a leading provider of software and technology solutions to the rapidly growing foreign exchange (“FX”) trading industry. Financial terms of the private transaction were not disclosed.

Founded in 2009 and headquartered in Cambridge, MA, oneZero provides mission-critical FX and multi-asset class liquidity, distribution, business intelligence and risk management solutions to the retail brokerage and institutional marketplace, including hedge funds, prime brokers and global banks. Through its international presence across offices in the United Kingdom, Australia, Singapore and Cyprus, the Company offers hosted and SaaS-based solutions that enableclients to aggregate, route and manage their risk exposures through Liquidity Hub, access broader liquidity distribution through oneZero’s EcoSystem and gain business intelligence insights through Data Source.

“The convergence of the retail and institutional FX markets is rapidly increasing as global market participants seek sophisticated, highly-scalable trading solutions and reliable IT infrastructure with ultra-low latency, unparalleled pricing data and high transactional capacity,” said Steve Pierson, Managing Partner, Lovell Minnick Partners. “oneZero continues to develop next-generation wholesale technology and business intelligence solutions for market participants with unmatched speed, efficiency and risk management support.”

“We are excited to build upon our strong foundation as a leading technology solutions provider to both the retail and institutional brokerage FX markets as we expand our multi-asset class trading, technology and data solutions to serve more market participants around the world,” said Andrew Ralich, Co-Founder and Chief Executive Officer of oneZero. “We look forward to partnering with the deeply experienced team at Lovell Minnick and tapping their institutional capital markets expertise to accelerate oneZero’s growth.”

Lovell Minnick is joined in this investment by Phil Weisberg, institutional foreign exchange executive veteran and founder of Matzliach Capital who has served as Senior Advisor to oneZero since June 2018. Weisberg has deep financial markets, derivatives and corporate development experience, previously founding and serving as CEO of FXall, a business-to-business foreign exchange platform that previously traded on the New York Stock Exchange before being acquired by Thomson Reuters. “We believe there is an enormous greenfield opportunity for oneZero’s further expansion into the global institutional market as regulatory requirements across Europe and globally continue to evolve and create demand for versatile, robust and cost-efficient technology solutions,” he said.

oneZero serves a network of over 200 global retail and institutional broker-dealers, which conduct over $100 billion in average daily trading volume on over 6 million executed transactions per day.

Broadhaven Capital Partners served as exclusive financial advisor to oneZero, while Gunderson Dettmer served as legal advisor to the Company. Morgan Lewis served as counsel to Lovell Minnick.

About oneZero Financial Systems
oneZero Financial Systems delivers leading multi-asset technology solutions through a high-performance aggregation, order routing, and risk management Liquidity Hub, access to a complete EcoSystem of distribution partners, and Data Source business intelligence insights that help clients grow. oneZero is known for its superior client support, including fast setup, responsive service and superior technology that is scalable, configurable and reliable. Transparency is embedded through complete access to transactional data and industry benchmarks and unbiased liquidity from multiple providers. oneZero supports your growth and profitability by scaling with your business needs and empowering you to manage your end-customer and partner risk more effectively. oneZero delivers its globally compliant, liquidity-neutral solutions through a hosted, SaaS model across three self-managed, highly reliable and ultra-low latency data centers that deliver connectivity to major financial exchanges, banks and other wholesale venues. For more information, please visit www.onezero.com.
Jun 03,
2019

J.S. Held Expands Forensic Accounting Practice with Acquisition of HSNO
06.03.19

J.S. Held Expands Forensic Accounting Practice with Acquisition of HSNO

JERICHO, N.Y. – June 3, 2019 – J.S. Held, a global consulting firm, announced today that it has acquired Hagen, Streiff, Newton, & Oshiro, Accountants, PC ("HSNO"). HSNO is a forensic accounting firm internationally recognized for their expertise on matters involving insurance, legal, economic, corporate, energy services, and cyber fraud. This transaction represents the 19th acquisition for J.S. Held since Lovell Minnick's investment.

With the knowledge and experience of the HSNO team, this acquisition strengthens J.S. Held’s ability to support clients on matters of all types requiring forensic accounting expertise. Founded in 1973, HSNO now has more than 80 professionals, located in 12 offices. The HSNO team has experience solving problems for the insurance, legal, and public/private sectors. This includes a broad range of experience from financial and data analysis, review of relevant economic issues, expert witness testimony, evidence gathering, and administrative support.

“We are excited to add the experience and expertise of HSNO. This further expands our forensic accounting services across the world, while strengthening our resources throughout the country,” said Jon Held, Chief Executive Officer of J.S. Held. “Through the addition of such a knowledgeable and experienced team, this expansion builds upon one of our foundational pillars: to deliver an unparalleled client experience.”

HSNO will join the J.S. Held team of more than 600 consultants around the globe. Existing HSNO clients will now have access to J.S. Held’s suite of specialized services including construction consulting; property damage assessment; water and fire restoration consulting; surety services; project and program management; equipment consulting; forensic architecture and engineering; forensic accounting; and environmental, health, and safety services.

“HSNO is excited to become part of the J.S. Held team and gain additional resources and expertise that will better serve our clients,” said Peter Hagen, Chief Executive Officer of HSNO. “We are respected for our accounting expertise, service, and integrity in many of the same industries and share the same values, which will be paramount to our joint success.”   www.jsheld.com
May 29,
2019

Tortoise Acquires Advisory Research’s Complementary Midstream Energy Business
05.29.19

Tortoise Acquires Advisory Research’s Complementary Midstream Energy Business

LEAWOOD, Kan. – May 29, 2019 – Tortoise today announced it has reached a definitive agreement to acquire the midstream energy asset management business of Advisory Research Inc. from parent company Piper Jaffray Companies (NYSE: PJC). The Advisory Research midstream energy infrastructure team has approximately $3 billion in assets under management in both balanced and equity strategies, through mutual funds, sub-advised closed-end funds and separate accounts. The transaction brings together two highly experienced and tenured midstream energy pioneers with strong track records and complementary investment philosophies anchored in fundamental research.

The Advisory Research midstream energy infrastructure team, including Senior Portfolio Managers Jim Cunnane, Jr. and Quinn Kiley, will join Tortoise. The existing team will maintain oversight of Advisory Research’s current midstream energy infrastructure business and client relationships.

“We have a shared history with Jim and Quinn as early investors in midstream energy,” said Tortoise Chief Executive Officer, Kevin Birzer. “The Advisory Research team is well-known and highly regarded as forward-thinking midstream energy asset managers. We anticipate that our similar leadership styles and culture will ensure a seamless transition.”

“We are thrilled to bring our combined experience and shared commitment to serving clients to the Tortoise organization,” said Advisory Research’s Senior Portfolio Manager, Jim Cunnane. “We see opportunities to continue to grow with the support of Tortoise’s deep and experienced distribution team.”

The transaction is expected to close during the second half of 2019, subject to customary regulatory and closing conditions, including fund board/shareholder approval. Advisory Research currently manages separate accounts, mutual funds and also serves as sub-adviser to the Fiduciary/Claymore Energy Infrastructure Fund (NYSE: FMO), the Nuveen Energy MLP Total Return Fund (NYSE: JMF) and the Nuveen All Cap Energy MLP Opportunities Fund (NYSE: JMLP).

Morgan Stanley & Co. LLC served as financial adviser to Tortoise.

About Tortoise

Tortoise invests in essential assets – those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. For additional information, please visit tortoiseadvisors.com.
May 20,
2019

Lovell Minnick Partners Reaches Agreement for Sale of J.S. Held
05.20.19

Lovell Minnick Partners Reaches Agreement for Sale of J.S. Held

RADNOR, PA and JERICHO, NY – May 20, 2019 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced the signing of a definitive agreement in which J.S. Held LLC, a global consulting firm focused on the construction industry and insurance claim management, will be acquired by private equity firm Kelso & Co. Financial terms of the private transaction were not disclosed.

“It has been our pleasure to partner with Jon Held and his team over the past four years as the Company significantly expanded its practice areas, geographic coverage and consultant base,” said Robert Belke, a Managing Partner at Lovell Minnick Partners. “With a robust and growing platform, and a strong track record of acquisitions, J.S. Held is now the acquirer of choice in the industry and has done a remarkable job institutionalizing an integration process that is proven and repeatable,” added Jason Barg, a Partner at Lovell Minnick Partners.

Founded in 1974, J.S. Held is the global leader in providing specialized consulting services to address complex and high value insurance claims and construction-related matters. J.S. Held’s growth has included 18 acquisitions and expansion to over 600 professionals in more than 60 offices across the U.S., Canada, Latin America, Europe, and the Middle East.

“Our mission for the last 40 years has been to provide the best service to our clients and to support the continued professional growth of our people,” said Jon Held, Chief Executive Officer of J.S. Held. “We are committed to connecting our clients with subject matter experts so they can solve the strategic and tactical business challenges they face every day. Lovell Minnick has played an instrumental role in helping us think strategically about our growth opportunities, and we look forward to our partnership with Kelso which will allow us to continue to add resources to our team, expand solutions to new verticals, and continue our growth on a global scale.”

“We are thrilled to partner with Jon and his team. J.S. Held’s leadership position in the insurance industry is a testament to the world-class expertise and unparalleled client service demonstrated by the consulting team,” said Chris Collins, Managing Director of Kelso. “We look forward to supporting the J.S. Held team as they accelerate their strategic plan to offer best-in-class solutions to an expanded client base spanning new vertical and global markets,” added Steve Dutton, Managing Director of Kelso.

The transaction is expected to close in the third quarter of 2019 and is subject to customary closing conditions. William Blair & Company and Morgan, Lewis & Bockius LLP advised Lovell Minnick and J.S. Held in connection with the transaction. Debevoise & Plimpton LLP advised Kelso in connection with the transaction.

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised over $3 billion in committed capital and has completed investments in over 50 platform companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services. Over its twenty-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, without relying upon excessive financial leverage.

About J.S. Held LLC
J.S. Held is a global consulting firm with expertise in construction, environmental health & safety, water & fire restoration, equipment, and forensic architectural & engineering matters. Established in 1974, J.S. Held brings together years of unrivaled technical expertise and unparalleled service to deliver reliable, comprehensive solutions to its clients. J.S. Held is renowned for recruiting and cultivating distinguished experts and being a trusted partner on the world’s most complex environmental and construction matters. www.jsheld.com

About Kelso & Company
Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $14 billion of equity capital in over 125 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (“ESOP”) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured investing team, and a reputation as a preferred partner to management teams and corporates. Kelso has significant experience investing in financial services, having deployed over $2 billion of equity capital in the sector over the past decade. For more information, please visit www.kelso.com.
May 01,
2019

‘FORESIDE LETTER’ Offers Industry-Leading FINRA Guidance Expansion for Mutual Funds
05.01.19

‘FORESIDE LETTER’ Offers Industry-Leading FINRA Guidance Expansion for Mutual Funds

Mutual funds continue to face headwinds that require nimble reactions and flexibility – neither of which are easy feats given the ever-shifting regulatory landscape. Continued pressure on fees, industry consolidation, and increased demand for transparency from investors all present challenges but also opportunities to innovate. When partnered with the right regulatory consultant, mutual funds have the authority to forge new pathways and create value for investors that to date has been unheard of.

Foreside is proud to have partnered with ABR Dynamic Funds to introduce a new level of transparency for institutional investors, called the Foreside Letter. This interpretive guidance, drafted with FINRA’s oversight, allows open-end mutual funds to disclose pre-inception index performance data, an allowance previously only made to passively managed ETFs. This guidance gives mutual funds a new and improved way to demonstrate value to potential investors, while meeting investors’ demands for increased transparency.

This type of regulatory innovation is critical to compete in today’s crowded landscape, according to Dave Whitaker, president of Foreside.

“We’re seeing a higher demand from institutional investors for more data, including for pre-investment performance data, so they can properly evaluate their investment decisions. The funds that bring in the right partners to navigate their clients’ and prospects’ changing demands will be the ones to win in the end.”

The Foreside Letter applies to open-end mutual funds that are seeking to replicate pre-defined rules that cannot be altered except under extraordinary market, political or macroeconomic conditions, similar to passively managed ETFs. The guidance does not change FINRA’s long-standing position that the presentation of hypothetical back-tested performance in the retail material is prohibited.

Collaboration was key to this industry-leading achievement. Foreside partnered with ABR Dynamic Funds, the law firm DLA Piper, and FINRA to complete the expansion of this guidance. No single party could have completed the task alone, and each brought value to the process. Key to this guidance, and to future innovation that navigates today’s regulatory landscape, is keeping the focus on the investor.

“Oftentimes, institutional investors and compliance consultants can become too caught up in sticking to the old way, that they miss opportunities to add value for clients,” said Whitaker. “At Foreside, we never just say ‘no’ – we always seek opportunities to make things work.”  www.Foreside.com
Apr 17,
2019

Global Financial Acquires Omni Holdings
04.17.19

Global Financial Acquires Omni Holdings

CHARLOTTE, N.C. and ATLANTA, Ga., April 17, 2019 /PRNewswire-PRWeb/ -- Global Financial, a leading national provider of financial solutions to healthcare providers and patients, announced today it has completed the acquisition of Omni Holdings. Financial terms of the private transaction were not disclosed.

Founded in 2012, Omni Holdings is the leading medical lien funding company operating in the Southeastern U.S. Through its subsidiary companies, Omni helps finance essential medical treatment for individuals in need of physical therapy, surgery, chiropractic care, pain management, radiology, and other diagnostics and forms of treatment. Omni's funding solutions provide immediate working capital to healthcare providers administering such procedures, enabling patients to access care immediately, often in circumstances in which traditional funding sources, including health insurance, are insufficient or unavailable. Through affiliates, Omni also provides pre-settlement advances, which provide financing solutions to patients to help cover essential needs and other living expenses as they undergo care.

"We are excited to welcome the Omni team to our organization," said Wensley McKenney, Founder and Chief Executive Officer of Global Financial. "Omni has built a strong reputation with medical providers and the legal community and has exhibited robust growth over its seven-year history. Its high-touch client service model is highly additive to our business, providing us with an exciting way to better serve our clients."


"Global's experienced leadership team, scale, and access to capital enable us to further expand Omni's services to new medical providers and geographies," said Rich Rescigno, who will become President of the combined company. "We look forward to the opportunities this will create for our customers and employees."

This acquisition builds upon a significant period of growth for Global Financial. In 2017, Lovell Minnick Partners, a private equity firm focused on financial services companies, acquired a majority stake in Global Financial. Since the Lovell Minnick investment, Global Financial has grown considerably and expanded its service, technology, and product offerings.

About Global Financial Credit
Global Financial Credit provides financing solutions to healthcare providers and individuals following personal injury events. Founded in 2002, Global is headquartered in Charlotte, NC. Through its subsidiary brands, the Company provides medical lien funding and pre-settlement advances to clients across the entire United States. The Company sources business through direct marketing and has an extensive business referral network that includes healthcare providers and law firms.

About Omni Healthcare
Injury Funding, LLC ("Omni") provides medical lien funding and pre-settlement advances. The business operates through its two branded subsidiaries, Omni Healthcare and Peak Funding Group, to deliver best in class medical funding and pre-settlement advance solutions to medical providers and injured plaintiffs involved in clear-liability litigation. Omni was founded in 2012 and has built a strong reputation with attorneys, medical providers and plaintiffs for delivering high-quality service.
Apr 15,
2019

J.S. Held Expands EH&S and Forensic Engineering Practices with Acquisition of Veritox, Inc. & GT Engineering, A Division of Veritox
04.15.19

J.S. Held Expands EH&S and Forensic Engineering Practices with Acquisition of Veritox, Inc. & GT Engineering, A Division of Veritox

JERICHO, N.Y. – April 15, 2019 – J.S. Held, a global consulting firm, announced today that it has acquired Veritox, Inc. and GT Engineering, a division of Veritox. Veritox (VTOX), a toxicology and industrial hygiene consulting firm with offices in Washington, Texas, South Carolina, and Florida, provides services in exposure assessment, industrial hygiene, human and environmental toxicology, forensic toxicology, and risk assessment. Headquartered in Washington state, GT Engineering (GTEN) provides technical consulting, forensic engineering, failure analysis, and fire investigation services.

This acquisition amplifies J.S. Held’s portfolio of professional services in EHS and forensic engineering. The addition of these two firms provides a complimentary depth of consulting talent, with experts who have training and experience in occupational health, product registration, health risk assessment, and personal injury claims relating to exposure; as well as professionals in materials science and metallurgy, mechanical engineering, and chemistry. Both groups have more than 20 years of experience solving problems for individuals, private and public companies, schools, and governmental and non-governmental organizations. This includes expert courtroom testimony.

“We are excited to add the experience and expertise of Veritox and GT Engineering to our already outstanding team of professionals and specialists,” said Tracey Dodd, Executive Vice President – Environmental, Health, & Safety of J.S. Held. “This expansion builds upon one of our foundational pillars of providing high-quality technical expertise through the addition of PhD toxicologists and industrial hygienists, material scientists, and engineers.”

VTOX and GTEN will join the J.S. Held team of over 600 consultants around the globe. Their existing clients will now have access to J.S. Held’s suite of specialized services including construction consulting; property damage assessment; surety services; project and program management; equipment consulting; forensic architecture and engineering; forensic accounting; and environmental, health, and safety services.

“Joining J.S. Held is a natural progression to provide the best service to our clients and support the continued professional growth of our people. J.S. Held’s commitment to client service, as well as training and development, fits with what our mission has been over the past 20 years,” said Bruce Kelman, PhD, DABT, ATS, ERT, President and Principal Toxicologist of Veritox.

Founded in 1974, J.S. Held has provided specialized consulting to better address complex construction and environmental matters globally. Following its continued growth trajectory and commitment to unparalleled client service, Veritox, Inc. is its 18th acquisition since 2015. J.S. Held now has over 50 offices across the U.S. and Canada, Latin America, Europe, and the Middle East.

About J.S. Held LLC

J.S. Held is a global consulting firm with expertise in construction, environmental health & safety, forensic accounting, water & fire restoration, equipment, and forensic architecture & engineering matters.

Established in 1974, J.S. Held brings together years of unrivaled technical expertise and unparalleled service to deliver reliable, comprehensive solutions to its clients. J.S. Held is renowned for recruiting and cultivating distinguished experts and being a trusted partner on the world’s most complex environmental and construction matters.
www.jsheld.com
Apr 01,
2019

ATTOM Data Solutions Selected by HousingWire as 2019 Tech100 Winner
04.01.19

ATTOM Data Solutions Selected by HousingWire as 2019 Tech100 Winner

IRVINE, Calif. – April 1, 2019 — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), is pleased to announce it has been named once again by HousingWire as a Tech100 winner. The HW Tech100 awards program recognizes the most innovative technology companies in the U.S. housing economy, spanning the real estate and mortgage industries.

ATTOM was selected to be included in the 2019 Tech100 awards program for its development of ATTOM DaaS. In the DaaS solution, the customer does not have to download and load data files, rather, the customer simply accesses the database directly in the cloud. DaaS also relieves the customer of the burden of managing the infrastructure required to host the data including security, disaster recovery and scalability. ATTOM DaaS manages the data and the platform on which members of the housing industry can build their real estate solutions, allowing the customer to focus on their business.

HousingWire created the Tech100 in 2013 to recognize the increasingly important role of technology companies serving the mortgage space. The number of applicants for the 2019 awards increased from previous years and the final list of 100 companies demonstrates the depth and range of technology solutions that are available for those operating in the housing economy.

“This year’s Tech100 list is stronger than ever! We leveraged a highly-qualified selection committee to review all nominations and guide the selection process. This extra layer of expertise and practical exposure to selected companies was influential in helping HousingWire recognize the 100 fintech companies that deserve the honor of being named the greatest players in the game,” said HousingWire Editor-in-Chief Jacob Gaffney.

About ATTOM Data Solutions

ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
Mar 01,
2019

J.S. Held LLC Expands Into Forensic Accounting with the Acquisition of Magnan Graizzaro and Associates CPAs, LLC
03.01.19

J.S. Held LLC Expands Into Forensic Accounting with the Acquisition of Magnan Graizzaro and Associates CPAs, LLC

JERICHO, N.Y. – March 1, 2019 – J.S. Held, a global consulting firm, announced today that it has acquired Magnan Graizzaro and Associates (MG&A). Headquartered in New York, MG&A is a national accounting firm that provides insurance claims investigation, forensic accounting and investigation, litigation and dispute consulting, and expert testimony.

The acquisition enhances J.S. Held’s portfolio of professional services and strengthens the firm’s ability to support clients in claims disputes with the knowledge and experience of the MG&A accounting team, including Louis Magnan and Bruno Graizzaro, Managing Partners of MG&A.

“Since our inception, Magnan Graizzaro and Associates has led the industry in service excellence and the building of unmatched customer loyalty. Our experience and the service that we provide set us apart from other accountants,” said Magnan. “As a part of J.S. Held, we are able to bring additional benefits to clients on complex engagements.”

MG&A will join the J.S. Held team of over 600 consultants around the globe. Existing MG&A clients will now have access to J.S. Held’s suite of specialized services including construction consulting, property damage assessments, surety services, project and program management, forensic engineering, and environmental, health, and safety services.

“We have worked alongside the MG&A team for many years on numerous complex assignments. Their entire organization operates with the utmost professionalism, and it shows in their work. Their reputation for excellence is well deserved,” said Jon Held, Chief Executive Officer of J.S. Held. “MG&A brings extensive experience in claims assessment, and accounting related disputes, which aligns perfectly with the needs of J.S. Held and its clients. This is an exciting day for J.S. Held because this new business solution addresses a growing demand from many of our valued clients.”

Founded in 1974, J.S. Held has provided specialized consulting to better address complex construction and environmental matters globally. Following its continued growth trajectory and commitment to unparalleled client service, MG&A is its 16th acquisition since 2015. J.S. Held now has over 50 offices across the U.S. and Canada, Mexico, Europe, and the Middle East.

About J.S. Held LLC

J.S. Held is a global consulting firm with expertise in construction, environmental health & safety, water & fire restoration, equipment, and forensic architectural & engineering matters.

Established in 1974, J.S. Held brings together years of unrivaled technical expertise and unparalleled service to deliver reliable, comprehensive solutions to its clients. J.S. Held is renowned for recruiting and cultivating distinguished experts and being a trusted partner on the world’s most complex environmental and construction matters.
Feb 11,
2019

Lovell Minnick Partners Reaches Agreement for the Sale of Commercial Credit to BDT Capital Partners
02.11.19

Lovell Minnick Partners Reaches Agreement for the Sale of Commercial Credit to BDT Capital Partners

RADNOR, PA (February 11, 2019) – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced the signing of a definitive agreement in which Commercial Credit, Inc., an equipment and accounts receivable finance company and the parent company of Commercial Credit Group Inc. and Commercial Funding Inc., will be acquired by BDT Capital Partners, a merchant bank that provides family- and founder-led businesses with long-term, differentiated capital, who will be making a majority equity investment in the company.

With this transaction, Commercial Credit, Inc., one of the largest independent commercial finance companies, will continue to expand its equipment and accounts receivable financing businesses.

President and CEO Dan McDonough states, “We’re thrilled to partner with BDT. Their culture, way of doing business and long-term perspective mirror ours and their patient capital will support the growth of our company, the development of our people and our ability to deliver superior customer service in the years to come. We thank Lovell Minnick for their support over the past seven years and appreciate their dedication and loyalty to our business and employees.”

John Cochran, Partner at Lovell Minnick, commented, “We are extraordinarily proud of Commercial Credit and its accomplishments, not just during our long and productive partnership together, but over a history that spans nearly 15 years. The Company’s steady growth and consistent execution demonstrate the resilience of their business model, the strength of their team, and their commitment to serving their clients.” Brad Armstrong, Partner at Lovell Minnick, added, “Commercial Credit exemplifies the type of successful independent specialty finance company we strive to find and build, one that is positioned to navigate an ever-evolving marketplace. This marks an important milestone, not just for Lovell Minnick and our limited partners, but for Commercial Credit, which is aligning itself with BDT, a premier organization with deep expertise and extensive resources available to perpetuate the company’s success.”

“We are excited to partner with founder and CEO Dan McDonough and his highly-experienced management team,” said Dan Jester, President of BDT Capital Partners. “Commercial Credit’s specialized equipment finance expertise, focus on credit quality and superior customer service have contributed to its strong results. Our long-term capital, combined with Commercial Credit’s differentiated approach to commercial lending, will provide a solid foundation for the company to continue helping its customers navigate business cycles, acquire equipment and scale their own businesses.”

The transaction is expected to close in the first quarter of 2019 and is subject to customary closing conditions. Keefe, Bruyette & Woods, Inc. and Ardea Partners LP advised the Company in connection with the transaction.

About Commercial Credit, Inc.
Commercial Credit, Inc., through its wholly owned subsidiaries Commercial Credit Group Inc. and Commercial Funding Inc., provides equipment loans and leases to small and mid-sized businesses in the construction, fleet transportation, machine tool and manufacturing, and waste industries, and accounts receivable factoring in a variety of industries. Since its inception in 2004, the Company has originated over $4 billion of finance receivables. The company’s sales force is located throughout North America, is headquartered in Charlotte, NC and operates full-service offices in Buffalo, NY, Naperville, IL, Hamilton, ON and Salt Lake City, UT. For more information, please visit www.commercialcreditgroup.com, and www.commercialfund.com.

About BDT Capital Partners
BDT Capital Partners provides family- and founder-led businesses with long-term, differentiated capital. The firm manages more than USD 9 billion across its investment funds and an additional USD 4.6 billion of co-investments from its global limited partner investor base. The firm’s affiliate, BDT & Company, is a merchant bank that works with family- and founder-led businesses to pursue their strategic and financial objectives. BDT & Company provides solutions-based advice and access to a world-class network of business owners and leaders.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is a private equity firm focused on investing in middle market companies in the global financial services and related business services industries. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised over $3 billion in committed capital and has completed investments in over 50 platform companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services. Over its twenty-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, without relying upon excessive financial leverage.
Jan 08,
2019

Lovell Minnick Partners Acquires ATTOM Data Solutions, Leading Provider of Real Estate Data and Analytics
01.08.19

Lovell Minnick Partners Acquires ATTOM Data Solutions, Leading Provider of Real Estate Data and Analytics

New Partnership Positions Market-Leading Property Data Expert for Sustained Growth

PHILADELPHIA, LOS ANGELES and NEW YORK, January 8, 2019 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced it has completed the acquisition of ATTOM Data Solutions (“ATTOM” or “the Company”), a leading provider of national real estate data and analytics. Lovell Minnick acquired ATTOM from Renovo Capital and Rosewood Private Investments. Financial terms of the private transaction were not disclosed.

Headquartered in Irvine, California, ATTOM manages a comprehensive data platform that draws upon a wide range of sources to provide property tax, deed, mortgage, foreclosure, environmental risk, natural hazard and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. ATTOM licenses its data to companies in the real estate, mortgage, insurance, marketing and adjacent industries.

“ATTOM’s data provides mission-critical insights to enterprise clients who seek to make well-informed business decisions with the benefit of historic, rich and near real-time data,” said Jason Barg, Partner, Lovell Minnick Partners. “We’re excited to partner with CEO Rob Barber and his team who have an excellent reputation for leadership and innovation in the real estate data and information services market.”

“ATTOM remains focused on expanding our seamless end-to-end data platform to deliver greater value for our customers as we continue to grow our market share in our core markets and build out our footprint in new end-markets across the U.S.,” said Barber. “We look forward to the next chapter of our growth, supported by the experience and resources of Lovell Minnick Partners, as we further strengthen our position as the premier one-stop shop for high-quality real estate data.”

Lovell Minnick Partners has strong experience investing in technology-enabled service providers in the financial services sector, such as Engage People Inc., an innovative, market-leading solutions provider for the global loyalty and incentive industry, and more recently, SRS Acquiom, a market-leading provider of technology-enabled solutions to facilitate private market M&A transactions. Lovell Minnick Partners also has deep industry knowledge and relationships in the property sector developed through proprietary research and through prior investments in the space such as J.S. Held, a specialty advisory firm that provides property loss consulting among other services, and CenterSquare Investment Management, a global investment manager focused on actively managed real estate and infrastructure strategies.

“ATTOM’s management team has generated strong organic growth and successfully pursued accretive strategic opportunities such as their acquisition of neighborhood data provider Onboard Informatics in early 2018,” said John Cochran, Partner, Lovell Minnick Partners. “We believe the Company’s innovative technology platform, focus on superior data quality and customer service, and its recurring license revenue model position ATTOM extremely well for continued success in the space. We are eager to support management in executing their strategic plan to build the leading technology platform in the real estate data industry.”

ATTOM’s extensive property database is also used to power consumer-facing websites such as RealtyTrac.com, Homefacts.com and HomeDisclosure.com.

Morgan Lewis served as LMP’s legal counsel. GCA Advisors acted as financial advisor to ATTOM, while Venable LLP served as ATTOM’s legal counsel. Monroe Capital provided debt financing for the transaction.


About Lovell Minnick Partners LLC
Lovell Minnick Partners LLC is a private equity firm with expertise in investing in the financial and related business services sectors. With offices in Philadelphia, Los Angeles and New York, Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $3 billion in committed capital and has completed investments in 50 companies. Targeted investment areas include asset management, wealth management, investment product distribution, specialty finance, insurance brokerage and services, financial and insurance technology and business services. For more information, please visit www.lmpartners.com.

About ATTOM Data Solutions
ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.  www.attomdata.com
Jan 03,
2019

Foreside Announces Acquisition of NCS Regulatory Compliance
01.03.19

Foreside Announces Acquisition of NCS Regulatory Compliance

PORTLAND, Maine – January 3, 2019 – Foreside Financial Group, LLC (“Foreside”), a provider of distribution and compliance services to clients in the global asset management industry, today announced the acquisition of NCS Regulatory Compliance (“NCS”), a comprehensive provider of outsourced compliance and regulatory solutions to the Registered Investment Adviser (“RIA”) and Broker-Dealer (“BD”) markets.

The combination of Foreside and NCS provides a full-suite of best-in-class outsourcing solutions to companies across the financial services industry, as clients increasingly demand a one-stop shop for their business processes, including broker-dealer solutions, consulting services and adviser compliance. Further, the acquisition will expand Foreside’s scope through increased market share, proprietary technology, enhanced regulatory and SEC compliance services, senior-level leadership, and a larger geographic footprint, which includes offices in New York City.

“We’re committed to providing our clients with a comprehensive and holistic set of solutions to streamline and increase revenue opportunities, as well as to quickly expand and launch new products, all in one place,” said David Whitaker, President of Foreside. “In addition to best meeting our clients’ needs in the midst of an ever-changing regulatory landscape, NCS’s leading technology-enabled financial services compliance solutions, paired with their deep industry expertise, both complements and drives forward our strategic plan to grow our market position and broaden our breadth of services globally.”

“We are thrilled to be joining the Foreside team,” said Mark Alcaide, Partner and Chief Operating Officer at NCS. “Foreside’s experienced management team, comprehensive resources, and scale offers the unique opportunity to further expand NCS’s core solutions to new customer segments, investment products and geographies, and we look forward to the opportunities that this will create.”

Added Rich Berthy, CEO of Foreside: “Adding NCS and their seasoned team of consultants to our market leading business solutions suite provides our clients an unparalleled level of support at a time when compliance and regulatory solutions are mission critical to the financial services industry.”

Formed in 2015 following the merger of two well-established firms in the compliance market, Regulatory Compliance and National Compliance Services, NCS provides over 1,800 clients in the US with FINRA/SEC and state registrations, ongoing compliance support, annual reviews and mock audits, risk assessments, compliance manuals, FINOP services and financial accounting support and cybersecurity compliance, in addition to regulatory services.

This acquisition builds upon a significant period of growth for Foreside. In 2017, Lovell Minnick Partners, a private-equity firm based in Radnor, Pennsylvania, purchased a majority stake in the company, and has since set forth a strategy to scale Foreside’s offering and expand the markets the firm services.

Financial terms of the transaction were not disclosed. The acquisition is expected to close in early January 2019.

About Foreside
Foreside delivers a range of distribution and compliance services to clients in the global asset management industry. Foreside services open- and closed-end funds, exchange-traded products, commodity pools, private placements, investment advisers and registered broker-dealers. Foreside’s comprehensive technology suite includes Foreside AdCompliance™ a proprietary Internet-based portal to coordinate marketing material review with SEC and FINRA and ForesideXchange, a proprietary ETF order management system to facilitate the create/redeem process for ETFs.

Foreside’s service offerings include distribution, registered representative licensing, fund chief compliance officer and treasurer services, and regulatory and compliance consulting. Foreside distributes over $1 trillion of product through their 19 limited purpose broker-dealers. The firm’s solutions enable clients to focus on asset management without sacrificing distribution and compliance best practices. Foreside is headquartered in Portland, Maine and has offices in Berwyn, Pennsylvania, Boston, Massachusetts, and Columbus, Ohio. For more information on Foreside’s suite of services, please visit www.foreside.com.

About NCS Regulatory Compliance
With more than 25 years of experience in the compliance consulting space, NCS Regulatory Compliance offers deep expertise and proven compliance knowledge for investment advisers and broker-dealers. NCS Regulatory Compliance’s experts remain on the cutting edge, leveraging decades of experience and the latest technologies to simplify and streamline the registration process and management of ongoing compliance requirements for clients. For more information on NCS Regulatory Compliance, visit www.ncsregcomp.com.
Nov 13,
2018

Lovell Minnick Partners Announces Majority Investment in SRS Acquiom
11.13.18

Lovell Minnick Partners Announces Majority Investment in SRS Acquiom

Positions SRS Acquiom for Continued Growth in M&A Settlement & Risk Management Services

PHILADELPHIA, LOS ANGELES and NEW YORK, November 13, 2018 – Lovell Minnick Partners (“LMP”), a private equity firm specializing in financial and related business services companies, announced it has completed a majority investment in SRS Acquiom (the “Company”), a market-leading provider of technology-enabled services related to M&A settlement support and risk mitigation.

Founded in 2007 by Paul Koenig, Mark Vogel and Jason Mendelson and headquartered in Denver, SRS Acquiom provides an integrated platform of professional services, technology solutions and data that enables corporate acquirers, private equity firms and venture capital firms to navigate the complex M&A deal execution process more efficiently. The Company has managed over 2,200 deals, representing 205,000 shareholders, valued at over $340 billion.

“SRS Acquiom has a strong history of innovation and offers best-in-class solutions for managing and simplifying M&A processes throughout the transaction lifecycle,” said Steve Pierson, Managing Partner at LMP. “We look forward to supporting the Company in its continued growth, including the cultivation of next generation transaction support products, data analytics and new services.”

SRS Acquiom offers an expansive range of services, including post-closing shareholder representation, payment agency, escrow administration, representation and warranty insurance brokerage, and pre-closing shareholder solicitation. The company also boasts an extensive database of private M&A data that provides insights to help dealmakers determine appropriate transaction terms. The Company has served some of the largest and most well-known venture capital firms, private equity firms and corporate acquirers across the world.

“LMP’s strong network within financial services and experience investing in technology-enabled services businesses will expand and enhance our ability to offer market-leading M&A services to our clients across our increasingly global footprint,” said Paul Koenig, co-founder and CEO of SRS Acquiom. “We are experiencing strong demand for our platform of solutions from both new and existing clients, and we look forward to working with LMP to put the next phase of our strategic growth plans into action.”

“The SRS Acquiom team has built out an impressive presence in the United States, and we fully support the Company’s plans to expand its product offerings and to grow internationally,” added Brad Armstrong, a Partner at LMP. “At Lovell Minnick, we have had a long and successful history of supporting portfolio companies in executing upon both organic and inorganic growth initiatives, and we believe the Company is well-positioned to grow through add-on acquisitions of complementary products and services.”

SRS Acquiom’s management team will continue in their current roles and employees will continue to hold a significant investment in the Company alongside LMP. Prior investors, including Revolution Ventures and Top Tier Capital, will also participate in this transaction and will continue to support the company’s growth.

“I’d like to thank our dedicated employees, our Board of Directors and all of our current shareholders for helping us to build SRS Acquiom into the market leader it is today,” said co-founder and Vice Chairman Mark Vogel. “Together, we have turned an entrepreneurial idea into a business serving blue-chip clients involved in some of the market’s most significant M&A transactions. We look forward to ongoing success and growth in partnership with LMP.”

“SRS Acquiom started with a simple idea that M&A deals could be done better,” said co-founder Jason Mendelson. “The company has been passionate about that mission and has grown today into an amazing company that I am proud to have been a part of since the beginning.”

Since its inception, SRS Acquiom has developed value-added, innovative products for M&A transactions, including the following: SRS Acquiom MarketStandard, a technology platform allowing deal makers to apply filters on over 150 deal attributes using the largest private target M&A deal database to help negotiate deal terms; SRS Acquiom Clearinghouse, the first and leading online M&A payments platform allowing shareholders to submit required electronic paperwork within minutes and to be paid on the same day; SRS Acquiom ComPort, a portal that provides shareholders with a summary of metrics such as transaction distributions, claims, expenses and disbursements; and, SRS Acquiom Deal Dashboard, which provides acquirers with online access for managing escrow balances, assessing shareholder payment status and reviewing summarized transaction terms for all prior transactions completed by the acquirer.

Kirkland & Ellis LLP served as LMP’s legal counsel. Cowen and Company acted as exclusive financial advisor to SRS Acquiom, while Latham & Watkins LLP served as SRS Acquiom’s legal counsel.

About SRS Acquiom
SRS Acquiom, headquartered in Denver with offices in San Francisco, New York, Los Angeles, Chicago, Boston, London and Tel Aviv, is the global leader for managing closing and post-closing M&A activity, providing a comprehensive platform of services including shareholder representation, M&A payments and M&A risk management, including escrow administration and representation and warranty insurance brokerage. With more than 2,200 deals valued at over $340 billion, SRS Acquiom has made a business out of constant innovation with a singular purpose: helping deal parties and their advisors gain the freedom to do more. For more information, please visit www.srsacquiom.com.
Oct 16,
2018

Worldwide Facilities Announces Organizational Restructure; Promotes Eric Stuckman and Hank Haldeman to President Roles
10.16.18

Worldwide Facilities Announces Organizational Restructure; Promotes Eric Stuckman and Hank Haldeman to President Roles

LOS ANGELES, CA – October 16, 2018 - After a period of unprecedented growth, national wholesale insurance brokerage, managing general agent and program underwriter Worldwide Facilities announces an organizational restructuring. The company will reorganize into three divisions: Worldwide Brokerage, Worldwide MGA, and Worldwide Programs.

The driving force for this change is the significant growth that Worldwide Facilities has experienced in recent years. Having grown from about $550 million in gross written premium 3 years ago, the company now places approximately $1.5 billion in premium, with MGA and Program underwriting contributing 35% of that figure.

“We have evolved, on a deliberate and intentional basis, to a much more diversified company,” says Ronald Austin, President of Worldwide Facilities. “We now operate on three distinct distribution platforms—Brokerage, MGA, and Programs—each with separate operational and sales features and protocols. This reorganization reflects that change.”

The new structure will also enhance the company’s ability to leverage products across distribution platforms, target its growth strategy to each platform, and more effectively leverage its leadership talent.

As part of the restructure, Eric Stuckman has been promoted to President – Worldwide Brokerage, and Hank Haldeman will take on the role of President – Worldwide Programs. Emily Flores, Gary Kitchen, Gil Hine and Amicia Hine will continue to drive the national MGA strategy.

Austin comments, “Eric’s roots are wholesale brokering. During his decade-long tenure with us, he has continually grown in terms of responsibilities and contributions, most recently leading the Los Angeles production office as well as the company’s market relationship activities. His background, demonstrated skill set and energy are well suited to leading the company’s brokerage division.”

“Hank joined Worldwide Facilities as part of the Sullivan Group acquisition, and his expertise has been crucial across strategic initiatives, M&A, market relationships, and program assessment and management,” Austin adds.
Sep 18,
2018

Worldwide Facilities Plans Acquisition of McClelland and Hine, Inc. and McClelland & Hine Trucking Underwriters LLC—4th 2018 Acquisition
09.18.18

Worldwide Facilities Plans Acquisition of McClelland and Hine, Inc. and McClelland & Hine Trucking Underwriters LLC—4th 2018 Acquisition


LOS ANGELES, CA – September 18, 2018 - WORLDWIDE FACILITIES, LLC (“Worldwide”) and MCCLELLAND AND HINE, INC. / MCLELLAND & HINE TRUCKING UNDERWRITERS LLC, (collectively “MHI”) announce that they have entered into a Letter of Intent pursuant to which Worldwide Facilities proposes to acquire the assets of MHI. The parties anticipate completing the transaction, which is subject to certain conditions, within the next thirty days.

“We are extremely pleased that Gil Hine, Amicia Hine and their team are joining our company. Gil, Amicia and the MHI leadership have done an excellent job of building a great company. Their proprietary technology and underwriting products are enormously complementary and will be beneficial to our growing platform. MHI’s business provides us with a broader geographical footprint as well as a more diversified product offering. We are very excited to partner with the MHI team and have them participate in our broad-based equity ownership plan.” commented Davis Moore, CEO of Worldwide Facilities.

Gil Hine, Chairman of MHI, said, “When you first meet the leaders of an organization and your first reaction is “they are like us” and everything from then on reinforces that feeling you know you are making the right decision. For me, I feel like I did thirty-six years ago when McClelland and Hine started. Our team is just as pumped as I am to partner with Worldwide Facilities and help contribute to their continuing success.” Amicia Hine, CEO of MHI, added “Our vision for the continued success of the MHI business platform and the contribution we can make to the profitable growth of the combined companies is evident and compelling. The compatibility of MHI and Worldwide Facilities’ leadership culture, dedication to career building and professional growth of our members along with our commitment to our partners, our customers and our industry made this an obvious and exciting next step for our organization.”

Marsh, Berry & Company, Inc. served as the financial advisor to MHI.

About Worldwide Facilities, LLC
Worldwide Facilities is a national wholesale insurance broker and managing general agent that has been in business since 1970. Its brokers and underwriters are industry leaders providing expertise in a wide range of specialty lines, as well as extensive contacts with carriers domestically and overseas. For more information, please visit wwfi.com.

About McClelland and Hine, Inc. / McClelland & Hine Trucking Underwriters LLC
McClelland and Hine, Inc. / McClelland & Hine Trucking Underwriters LLC is a Managing General Agent and Excess and Surplus Lines Broker headquartered in San Antonio, Texas. MHI began writing business in 1982 and later expanded its operation with the opening of additional offices in Houston, Dallas and Atlanta.
Sep 05,
2018

J.S. Held LLC Strengthens Construction Advisory Services Practice with Acquisition of Construction Process Solutions, Ltd.
09.05.18

J.S. Held LLC Strengthens Construction Advisory Services Practice with Acquisition of Construction Process Solutions, Ltd.

JERICHO, N.Y. – September 5, 2018 – J.S. Held, a leading multidisciplinary consulting firm, today announced that it acquired Construction Process Solutions, Ltd. Construction Process Solutions (CPS) is a national construction consulting firm that provides project management support, dispute resolution services (including construction claims development and analysis), expert testimony, bond default analyses, and building forensic investigations.

The acquisition complements J.S. Held’s portfolio of professional services in construction consulting and strengthens the company’s Construction Advisory division. Andrew T. Englehart, President & Director of CPS, will join J.S. Held as Senior Vice President. Michael Collins, Director of Project Support Services at CPS, joins as Vice President. Timothy J. Schap, Director of Building Forensics at CPS, also joins J.S. Held as Vice President.

“Since 1995, we have focused on creating solutions to our clients’ needs throughout the construction process. Regardless of our client’s role in the design and construction process, we’ve assisted at different stages, from inception to years after completion,” said Englehart. “By joining J.S. Held, we can now provide additional resources and invaluable experience from a wide range of professionals with skills and experiences that complement our existing capabilities to benefit clients and their projects.”

CPS will join the J.S. Held team of over 500 consultants around the globe. Existing CPS clients will now have access to a broader range of services as J.S. Held specializes in construction consulting, property damage assessment, surety services, project and program management, forensic engineering, and environmental, health, and safety services.

“I have admired the exceptional team at CPS for many years,” said Sean Donohue, Senior Vice President and Service Line Leader for J.S. Held Construction Advisory Services. “CPS is an industry leader in construction claims, project management, and building forensic consulting, and a trailblazer in the use of technology to provide these services. This is an exciting day for J.S. Held and our growing Construction Advisory Services practice.”

Founded in 1974, J.S. Held has provided specialized consulting to better address complex construction and environmental matters globally. Following its continued growth trajectory and commitment to unparalleled client service, CPS is its 15th acquisition since 2015. J.S. Held now has over 50 offices across the U.S. and Canada, Mexico, Europe, and the Middle East.

About J.S. Held LLC
J.S. Held is a leading consulting firm specializing in construction, forensic engineering, and environmental consulting services. J.S. Held consultants have provided their expertise on the most complex construction and environmental matters around the globe. The company serves its clients from over 50 locations throughout the U.S., Canada, Latin America, the United Kingdom, and United Arab Emirates. For more information regarding J.S. Held, please visit www.jsheld.com.
Aug 24,
2018

TriState Capital Named to Fortune's 100 Fastest-Growing Companies List for Second Year in a Row
08.24.18

TriState Capital Named to Fortune's 100 Fastest-Growing Companies List for Second Year in a Row

PITTSBURGH--(BUSINESS WIRE)-- August 24, 2018 -- Fortune named TriState Capital Holdings, Inc. (Nasdaq: TSC) to its annual 100 Fastest-Growing Companies list, citing the financial services company’s 30% growth in earnings per share, 19% growth in revenue and 26% total return on a three-year annualized basis. The parent company of TriState Capital Bank and Chartwell Investment Partners was one of only 46 companies making this list for the second consecutive year.

TriState Capital’s national private banking, national investment management and regional middle-market commercial banking businesses also generated average annual growth in the company’s pre-tax income of 20% and net income available to common shareholders of 30% since June 2015.

In addition, the bank achieved more than 20% average annual organic growth in both loans and deposits since June 2015. Chartwell grew client assets under management at an average annual growth rate of 8% over the same three year period, with investment management fees contributing to non-interest income representing nearly a third of TriState Capital’s total revenue.

“Our unique financial services business model, unwavering focus on our three business lines and the clients they serve, and disciplined strategic execution by our exceptional team, all enabled TriState Capital to consistently deliver superior annual earnings growth,” Chairman and Chief Executive Officer James F. Getz said. “We are pleased to have Fortune’s 100 Fastest-Growing Companies list recognize our profitable growth for the second year in a row, and are proud to share this distinction with other high performing organizations from a variety of industries.”

Fortune reported that it ranks the 100 Fastest-Growing Companies listed on major U.S. stock exchanges by “revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 29, 2018. (To compute the revenue and EPS growth rates, Fortune uses a trailing-four-quarters log linear least square regression fit.)” More information on the list is available in the September 2018 issue of Fortune and at http://fortune.com/100-fastest-growing-companies/.

ABOUT TRISTATE CAPITAL

TriState Capital Holdings, Inc. (Nasdaq: TSC) is a bank holding company headquartered in Pittsburgh, Pa., providing commercial banking, private banking and investment management services to middle-market companies, institutional clients and high-net-worth individuals. Its TriState Capital Bank subsidiary had $5.1 billion in assets, as of June 30, 2018, and serves middle-market commercial customers through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, N.J., and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. Its Chartwell Investment Partners subsidiary had $9.6 billion in assets under management, as of June 30, 2018, and serves as the advisor to The Berwyn Funds and Chartwell Mutual Funds. For more information, please visit http://investors.tristatecapitalbank.com.
Jul 30,
2018

Lovell Minnick Partners Agrees to Acquire National Auto Care
07.30.18

Lovell Minnick Partners Agrees to Acquire National Auto Care

Partnership with NAC Positions Nation’s Premier Auto
Warranty and Vehicle Protection Leader for Continued Growth

PHILADELPHIA, LOS ANGELES and NEW YORK – JULY 30, 2018 – Lovell Minnick Partners (“LMP”), a private equity firm specializing in financial and related business services companies, today announced that it has entered into an agreement to acquire National Auto Care Corporation (“NAC” or “the Company”). NAC is a diversified, nationwide provider of automotive protection products. Financial terms of the transaction were not disclosed.

NAC, established in 1984 and acquired by Trivest Partners in 2012, is headquartered in Jacksonville, Florida. NAC is one of the longest operating providers of products such as vehicle service contracts, guaranteed asset protection, limited warranty, tire, wheel and a full suite of ancillary protection products nationwide.

Through its independent agents, NAC supports over 2,300 partners that distribute its products. These include automobile dealers, credit unions, financial services companies, recreational dealers and other strategic partners across North America. Additionally, the Company has unique value enhancing services that support its distributors with their branding, marketing and sales activities.

“NAC is the premier national market leader in developing innovative products that help protect consumers from a wide range of risks that can arise with Vehicle or Power Sport ownership,” said Trevor Rich, a Partner at LMP. “We look forward to partnering with President and CEO Tony Wanderon, who is an accomplished veteran and innovator in the automotive protection industry, and his experienced team at NAC, as our investment positions the Company to aggressively pursue acquisitions that complement its strong growth trajectory.”

NAC has invested significantly in the development and implementation of proprietary and third-party technology over the past four years, empowering its dealer and distributor partners with digital contract remittance and customized support services. In addition, the Company provides its distributor partners with a unique variety of support services and incentive programs that drive customer loyalty and strengthen their agency value.

“LMP has strong experience investing in service-oriented businesses across the finance and insurance value chain that will prove invaluable as NAC builds upon our flexible and customized solutions to support our agency distributor partners in driving sales and profitability,” said Wanderon. “We believe LMP’s expertise in identifying and negotiating strategic transactions will add significant value to our acquisition strategy.”

“Since our investment 6 years ago, NAC has grown to be one of the premier providers in the F&I space, and we are extremely proud of our partnership and investment in such an exciting company. We are confident that NAC and the management team are well positioned for continued growth and success through their partnership with LMP,” said Troy Templeton, Managing Partner at Trivest Partners.

LMP has a strong record of investing in and building fast-growing businesses across the insurance value chain, including J.S. Held, a specialty advisory firm providing property loss consulting, dispute resolution and construction and development services, and Worldwide Facilities, LLC, one of the largest wholesale insurance brokerage companies in the U.S.

Houlihan Lokey served as financial advisor to NAC and Trivest, and Sandler O’Neill was advisor to LMP. Madison Capital Funding LLC and NewStar Financial, Inc. are providing debt financing for the transaction.

The transaction is expected to close in the third quarter of 2018.

About National Auto Care Corporation
National Auto Care Corp. provides F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators, and credit unions. National Auto Care focuses on increasing agent and dealer profitability by providing unique F&I products in protected markets. National Auto Care was recently named a Top Workplace in Central Ohio for the third year running and was honored with a 2018 Dealer’s Choice Platinum Award for F&I Products. For more information, visit www.nationalautocare.com.

About Trivest Partners
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 250 transactions, totaling in excess of $6.0 billion in value. For additional information, please visit www.trivest.com.
Jul 12,
2018

J.S. Held Expands Global Presence with Leach Group & Comando Ingenieria Acquisitions
07.12.18

J.S. Held Expands Global Presence with Leach Group & Comando Ingenieria Acquisitions

Global Service Offering Expanded with Addition of UK-Based Commercial Support Services Company and Mexico-Based Specialized Construction Consulting Firm

JERICHO, N.Y. – July 12, 2018 – J.S. Held, a leading multidisciplinary consulting firm, announced today that it has officially entered the global market with the acquisitions of Leach Group and Comando Ingenieria. With the partnership of these two international companies, J.S. Held will be able to provide a greater depth of specialized services to clients throughout the globe.

As a prominent firm based in the United Kingdom, Leach Group has been providing commercial support services to contractors and employers in the construction industry since 1946. Leach has teams of experienced professionals available to support and assist clients throughout Europe, the Middle East and beyond from its offices in the United Kingdom & Abu Dhabi. Effective immediately, Leach Group will change its name to “Leach Group, a part of J.S. Held” with plans to rebrand under the J.S. Held name in the future.

“The combination of J.S. Held and Leach Group will allow us to support and serve our clients with a wider range of services,” said Melvyn D. Smith, Managing Director of Leach Group. “We at Leach Group share the belief system and level of customer dedication that J.S. Held exemplifies, and together we will be able to offer our combined specialty services to an international customer base.”

Mexico City based construction consulting firm Comando Ingenieria has offered building supervision and insurance services with a focus on damage valuation in Latin America since 1986. A well-known name in the field of damage assessment, Comando has extensive experience assessing damage to buildings and other infrastructure resulting from disasters or catastrophic events. Comando Ingenieria will rebrand as “J.S. Held Mexico.”

“We at Comando Group are proud to join J.S. Held to offer our joint services in the global marketplace,” said Raul Losana Alvarado, General Director of Comando. “With our combined expertise, our clients will have a comprehensive solution for a variety of specialty construction and engineering matters.”

“J.S. Held is very pleased to be able to serve clients throughout the global market with the addition of Leach Group and Comando Ingenieria,” said Jon Held, President and Chief Executive Officer of J.S. Held. “Both companies are very highly regarded in their respective fields, and we believe that they will make outstanding additions to our team.”

Continuing a trajectory of strong growth, Comando and Leach Group are the 13th and 14th acquisitions made by J.S. Held following a 2015 investment from Lovell Minnick Partners, a private equity firm that specializes in investing in financial and related business services companies. Previous acquisitions include Applied Environmental Health & Safety (AEHS), Bracken Engineering, Antonucci Consulting Corp., Donohue Consulting, Leighton Associates, Spex, Meridian Consulting, CEIPS, U.S. HELM, Lovett Silverman Construction Consultants, Inc., the Property Loss Division of Chroma Building Corp., and Wakelee Associates.

Since 1974, J.S. Held has added the capabilities of specialized consulting businesses to better address complex construction and environmental matters globally. J.S. Held now has over 500 professionals and over 50 offices across the U.S., Canada, Mexico, United Kingdom and Abu Dhabi.

About J.S. Held LLC

J.S. Held is a leading consulting firm specializing in construction, forensic engineering, and environmental consulting services. J.S. Held consultants have provided their expertise on the most complex construction and environmental matters around the globe. The company serves its clients from over 50 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.
May 31,
2018

Worldwide Facilities Acquiring RIC Insurance General Agency, Inc.
05.31.18

Worldwide Facilities Acquiring RIC Insurance General Agency, Inc.

LOS ANGELES, CA – May 31, 2018 - Worldwide Facilities, LLC, a national wholesale insurance brokerage, program manager and managing general agency, announces that it is acquiring the assets of RIC Insurance General Agency, Inc. (“RIC”), a wholesale insurance broker and managing general agent specializing in small to medium-sized commercial business as well as personal lines business. RIC will continue to maintain its client and market relationships and commitments as a division of Worldwide Facilities.

“We are pleased that the RIC team will be part of Worldwide Facilities. The combination of our complementary products, capabilities and market specialties will increase the relevance of the combined companies to the retail agent community,” says Davis Moore, CEO of Worldwide Facilities.

Gary Kitchen, CEO of RIC, adds, “The RIC team is excited to become part of the expanding Worldwide Facilities brand. We’re looking forward to helping the combined company continue to execute a growth strategy for the benefit of customers, markets and employees. We look forward to being a great asset to the organization and are excited to capitalize on the opportunities.”

PhiloSmith, a private investment banking firm specializing in insurance and financial services, advised RIC in the transaction.

About Worldwide Facilities, LLC
Worldwide Facilities is a national wholesale insurance broker and managing general agent that has been in business since 1970. Its brokers and underwriters are industry leaders providing expertise in a wide range of specialty lines, as well as extensive contacts with carriers domestically and overseas. For more information, please visit wwfi.com.

About RIC Insurance General Agency, Inc.
RIC Insurance General Agency, Inc. is a wholesale insurance brokerage and managing general agency with office locations across the western United States. It offers Admitted and Non-Admitted Property and Casualty products, including: Commercial / Excess and Surplus, Specialty, Personal Lines, Workers’ Compensation / Access State Fund, and Transportation / Auto. For more information, please visit ric-ins.com.
May 22,
2018

TriState Capital Announces Public Offering of Common Stock by Selling Shareholders
05.22.18

TriState Capital Announces Public Offering of Common Stock by Selling Shareholders

PITTSBURGH--(BUSINESS WIRE)--TriState Capital Holdings, Inc. (Nasdaq: TSC) today announced that affiliates of Lovell Minnick Partners LLC (collectively, “Lovell Minnick”) have agreed to sell 2,200,000 shares of TriState Capital common stock in an underwritten public offering. Keefe, Bruyette & Woods, Inc., A Stifel Company, is acting as the sole book-running manager for the offering. TriState Capital is not selling any stock in this transaction and will not receive any proceeds from the secondary offering.

Lovell Minnick funds have been equity investors in TriState Capital since August 2012. Upon completion of the offering Lovell Minnick is expected to continue to own approximately 9% of the Company’s outstanding common stock. Lovell Minnick Co-Chairman James E. Minnick also remains a member of TriState Capital’s Board of Directors.

The shares are being offered pursuant to a shelf registration statement (File No. 333-222074) under the Securities Act of 1933, as amended, which has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on December 21, 2017. The offering is being made only by means of a prospectus supplement and accompanying prospectus. Potential purchasers of our common stock should consider carefully the information contained in the preliminary prospectus supplement and the accompanying prospectus and other documents that TriState Capital has filed with the SEC for more complete information about TriState Capital and the offering. Copies of the registration statement, prospectus supplement and the accompanying prospectus relating to the offering may be obtained free of charge by visiting the SEC’s website at www.sec.gov, or may be obtained from Keefe, Bruyette & Woods, Inc., Equity Capital Markets, 787 Seventh Avenue, NY, NY 10019, or by calling 800-966-1559.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT TRISTATE CAPITAL

TriState Capital Holdings, Inc. (Nasdaq: TSC) is a bank holding company headquartered in Pittsburgh, Pa., providing commercial banking, private banking and investment management services to middle-market companies, institutional clients and high-net-worth individuals. Its TriState Capital Bank subsidiary had $4.7 billion in assets as of March 31, 2018, and serves middle-market commercial customers through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, N.J., and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. Its Chartwell Investment Partners subsidiary has more than $9 billion in assets under management, and serves as the advisor to The Berwyn Funds and Chartwell Mutual Funds.

FORWARD LOOKING STATEMENTS

This press release includes “forward-looking” statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including with respect to the timing and size of the offering, which statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to those that are described in the “Risk Factors” section of the preliminary prospectus supplement for this offering and the sections titled “Risk Factors,” “Cautionary Note Regarding Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in TriState Capital’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 and Annual Report on Form 10-K for the fiscal year ended December 31, 2017, as well as in other filings that TriState Capital makes with the SEC from time to time (which are available at www.sec.gov). The events and circumstances discussed in such forward-looking statements may not occur, and TriState Capital’s actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements speak only as of the date of this press release and are based on information available to TriState Capital as of the date of this release.
Apr 27,
2018

Worldwide Facilities Completes Acquisition of The Sullivan Group
04.27.18

Worldwide Facilities Completes Acquisition of The Sullivan Group

LOS ANGELES, CA – April 27, 2018 - WORLDWIDE FACILITIES, LLC is pleased to announce that it has completed the acquisition of GERALD J. SULLIVAN & ASSOCIATES, INC., which trades as “The Sullivan Group” (“Sullivan”), a national specialty intermediary.

Formed in 1981, Sullivan is an insurance program manager, contract binding authority manager and wholesale broker offering its products and services nationally through retail insurance agents and brokers. Sullivan has been dedicated to providing retail producers the best possible service, professionalism and expertise, based on strong, lasting relationships with insurance companies and retail producers.

Jerry Sullivan, Chairman of Sullivan, is being retained as a consultant / Non-Executive Director to Worldwide Facilities. Hank Haldeman, President of Sullivan, joins Worldwide Facilities as Senior Executive Vice President and will continue to lead the Sullivan programs divisions as well as assume corporate responsibilities at Worldwide Facilities. Kevin Davis, President of Kevin Davis Insurance Services (KDIS) joins as Executive Vice President and will continue to lead the KDIS division.

About Worldwide Facilities, LLC
Worldwide Facilities is a national wholesale insurance broker and managing general agent that has been in business since 1970. Its brokers and underwriters are industry leaders providing expertise in a wide range of specialty lines, as well as extensive contacts with carriers domestically and overseas. For more information, please visit wwfi.com.
Apr 06,
2018

Buyouts: Five Questions with Trevor Rich of Lovell Minnick Partners
04.06.18

Buyouts: Five Questions with Trevor Rich of Lovell Minnick Partners

By Luisa Beltran

Trevor Rich in 2010 joined Lovell Minnick Partners, where he has focused on financial technology. He was promoted to partner in January. Lovell Minnick, Radnor, Pennsylvania, was once known for its asset-management deals but has expanded into business services, specialty finance, insurance and fintech.

Strategics are buying up many U.S. payments companies. This is causing larger buyouts to shop outside the U.S. for deals. Is there still a market in the U.S. for payments?
We do think there is an opportunity outside the U.S. in terms of payments, but we’ve not spent any time there. We still think there’s an opportunity here in the states and we are focused on those [opportunities]. It’s clear that it’s a bit of a seller’s market. Valuations have been high. You have to really pick your spots here and make sure you are looking at areas that can bring value beyond the standard PE capital. That’s what we’re focused on. I do think there are a number of established payments players out there, much more in software and the acquiring side. We’ve seen that channel evolve as an opportunity for PE in recent years.

What about insuretech?
There is lots of interest in insuretech but it’s still very much an early-stage opportunity. You’ve seen lots of VC and corporate VC activity [there]. Lots of early players in the space are focused on disruption, creating a full-stack insuretech play. They’re going around established insurance carriers or agents. We’ve seen a bunch of models try to do that. Like many areas in fintech that get attention in VC, those that tend to attract pretty high multiples, a lot of those are focused on revenue multiples, a lot of them aren’t cash-flow positive yet. While it’s an opportunity from a PE perspective, it presents a challenge from both a stage and a valuation perspective.

What do you think about blockchain?
This is a topic that we could talk about for hours. Clearly, it’s complicated. There are investors who are probably making less educated bets on the space. Our view is that there will be practical applications for blockchain in development and it might have an impact in the next few years. Not necessarily crypto. We as a firm won’t invest in cryptocurrency. That market at this point is highly speculative. We see broader applications for blockchain. Those applications will filter their way to financial services. I don’t think they will be an overnight disruptive force where markets are altered overnight because of a business process powered by blockchain. I don’t think it will disrupt existing players as much as it will be adopted by existing players and do things more efficiently. And [it will] likely lower the costs, which will flow to the end consumer. There is a lot of opportunity there but not an area we will be investing in at this point.

What do you think of online lending?
I think the space will continue to evolve. … Any lending platform, whether digital or traditional brick and mortar, it’s best to have a diversified set of funding sources — having warehouse lines, having a marketplace, having access to the securitization market — should all be utilized. What has changed in the digital lending landscape is that much of the value is more about the customer experience. Is there a way to more seamlessly source, originate and underwrite loans that enhance credit quality and, at the same time, improve speed that these loans are made? That’s the true change in an industry that recognizes the need to improve.

Someone mentioned the other day that private equity may once again invest in banks. How likely is this?
I don’t see banks as an area for private equity investment absent a significant market correction. Banks are trading at fairly healthy multiples, so it’s not an opportunity for PE-like returns. We’ll have to see multiples come down to near book level before we see interest [from] PE again.
Apr 02,
2018

Worldwide Facilities Acquires Tennant Risk Services; Expands Presence in the Professional Liability and Specialty Insurance Market
04.02.18

Worldwide Facilities Acquires Tennant Risk Services; Expands Presence in the Professional Liability and Specialty Insurance Market

LOS ANGELES, CA and WEST HARTFORD, CT – April 2, 2018 - Worldwide Facilities, a national wholesale insurance brokerage and managing general agency, announces the acquisition of Tennant Risk Services Insurance Agency, LLC, a wholesale insurance broker and underwriting manager specializing in the placement of professional liability and specialty insurance coverages.

Tennant offers its products and services across the U.S. through retail agents and brokers. Robert Sargent, CEO of Tennant, joins Worldwide Facilities as Executive Vice President where he will continue to manage and lead his experienced team as well as assume a company leadership role as part of Worldwide Facilities’ senior management team.

This transaction represents an expansion of Worldwide Facilities' footprint in the professional liability space, where Tennant has extensive expertise and products in the E&O, D&O, EPLI and Cyber lines of business. It broadens the markets and products available to the retail brokers and agents served by Worldwide Facilities as well as the underwriting opportunities for Worldwide Facilities' markets.

“Tennant’s demonstrated expertise and specialized product offerings will contribute to Worldwide Facilities’ continued growth and further our presence in the Northeast. Robert Sargent has built a great business as well as a great reputation in the professional liability and specialty insurance marketplace, and we are very pleased to have him and his team join our organization,” says Davis Moore, Chief Executive Officer of Worldwide Facilities.

“On behalf of my team, we are excited to become part of the expanding brand Worldwide Facilities has created. With technical and market expertise in our specialty areas, we know we will be a great asset to the organization and are excited to capitalize on the opportunities,” says Sargent.

Lovell Minnick Partners’ investment in Worldwide Facilities continues to support the company’s growth initiatives. Lovell Minnick Partners is a private equity firm specializing in investing in financial and related business services.

About Worldwide Facilities, LLC
Worldwide Facilities is a national wholesale insurance broker and managing general agent that has been in business since 1970. Its brokers and underwriters are industry leaders providing expertise in a wide range of specialty lines, as well as extensive contacts with carriers domestically and overseas. For more information, please visit www.wwfi.com.

About Tennant Risk Services Insurance Agency, LLC
Tennant Risk Services is a wholesale insurance broker and underwriting manager specializing in professional liability lines and offering its products and services to retail agents across the U.S. Tennant maintains relationships with a wide range of high-quality insurers around the world to provide the best combination of price, product, service and security.
Mar 26,
2018

Tortoise Launches Tax-Advantaged Social Infrastructure Fund (TSIFX)
03.26.18

Tortoise Launches Tax-Advantaged Social Infrastructure Fund (TSIFX)


LEAWOOD, Kan. – March 26, 2018 – Tortoise today announced the launch of the Tortoise Tax-Advantaged Social Infrastructure Fund (TSIFX), a closed-end interval fund that offers investors access to the firm’s direct lending strategy that was previously available only to qualified purchasers through a private fund. The fund will provide capital for social infrastructure projects related to 501(c)(3) organizations, nonprofits and other entities authorized to issue private activity and tax-exempt bonds focused on education, healthcare, housing, industrial infrastructure, human service providers and social services, where there is currently a capital dislocation. The fund seeks to generate attractive total return with an emphasis on tax-advantaged income.

“The capital supply demand imbalance that resulted from the financial crisis provides our team an opportunity to potentially benefit 501(c)(3) entities with the capital needed to fund social infrastructure projects and investors with tax-advantaged income and diversification in their portfolios,” said Garey Fuqua, senior portfolio manager and team lead for Tortoise’s social infrastructure and direct lending strategies. “We believe our team’s extensive experience sourcing and structuring direct origination deals and our differentiated credit philosophy and approach gives us a competitive advantage in a rather opaque market.”

“Tortoise is very thoughtful about structuring products to best meet the needs of our investors,” said Jeremy Goff, a managing director focusing on the firm’s direct lending platform. “Utilizing an interval fund structure for this strategy allows investors to capitalize on the potential illiquidity premium of direct origination private deals, while also offering quarterly liquidity.”

Liquidity will be provided to shareholders through the fund’s quarterly repurchase offerings.

About Tortoise
Tortoise invests in assets and services that serve essential needs in society and can also serve essential client needs, such as diversification and income. Tortoise’s expertise spans traditional energy investing across the entire energy value chain, sustainable infrastructure including wind, solar and water infrastructure, credit investing, direct lending to social infrastructure projects and index construction. Through a variety of investment vehicles, Tortoise provides access to a wide range of client solutions, focused on their evolving needs. For more information, visit www.tortoiseadvisors.com.

Forward-Looking Statement
This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the fund and Tortoise Index Solutions believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the funds’ reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the fund and Tortoise Index Solutions do not assume a duty to update this forward-looking statement.

Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Disclosures
The closed-end interval fund has adopted, pursuant to Rule 23c-3 under the 1940 Act, a fundamental policy, which cannot be changed without shareholder approval, requiring the fund to offer to repurchase at least 5% and up to 25% of its common shares at NAV on a regular schedule. Although the policy permits repurchases of between 5% and 25% of the fund's outstanding common shares, for each quarterly repurchase offer, the fund currently expects to offer to repurchase 5% of the fund's outstanding common shares at NAV subject to approval of the Board. It is possible that a repurchase offer may be oversubscribed, in which case shareholders may only have a portion of their shares repurchased. Subject to the above, quarterly repurchase offers and liquidity are limited.

Before investing in the fund, investors should consider their investment goals, time horizons and risk tolerance. The fund’s investment objective, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the funds. Copies of the fund’s prospectus may be obtained by visiting www.tortoiseadvisors.com or calling 855-TCA-FUND. Read it carefully before investing.

Mutual fund investing involves risks. Principal loss is possible. The fund is suitable only for investors who can bear the risks associated with the limited liquidity of the fund and should be viewed as a long-term investment. The fund will ordinarily accrue and pay distributions from its net investment income, if any, once a quarter; however, the amount of distributions that the fund may pay, if any, is uncertain. There currently is no secondary market for the fund’s shares and the adviser does not expect that a secondary market will develop. Limited liquidity is provided to shareholders only through the fund’s quarterly Repurchase Offers for no less than 5% of the fund’s shares outstanding at net asset value. There is no guarantee that shareholders will be able to sell all of the shares they desire in a quarterly Repurchase Offer. The fund invests in Municipal- Related Securities. Litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a significant effect on the ability of an issuer of municipal bonds to make payments of principal and/or interest. Changes related to taxation, legislation or the rights of municipal security holders can significantly affect municipal bonds. Because the fund concentrates its investments in Municipal-Related Securities the fund may be subject to increased volatility. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. The fund may invest in derivative securities, which derive their performance from the performance of an underlying asset, index, interest rate or currency exchange rate. Derivatives can be volatile and involve various types and degrees of risks. Depending on the characteristics of the particular derivative, it could become illiquid. The fund may utilize leverage, which is a speculative technique that may adversely affect common shareholders if the return on investments acquired with borrowed fund or other leverage proceeds do not exceed the cost of the leverage, causing the fund to lose money.

Tortoise Credit Strategies is the adviser to the Tortoise Tax-Advantaged Social Infrastructure Fund, Inc., which is distributed by Quasar Distributors, LLC.

Contact Information
Tortoise
Pam Kearney, Investor and Media Relations, 844-872-1562, info@tortoiseadvisors.com
Mar 19,
2018

Asset Finance International: Asset finance acquisitions in focus for Lovell Minnick Partners
03.19.18

Asset Finance International: Asset finance acquisitions in focus for Lovell Minnick Partners

US-based private equity firm Lovell Minnick Partners will consider new investments in the asset finance sector as part of a long-term strategic growth plan as the firm continues to focus on investing in financial services and related business services companies.

The firm already has made some investments in the sector, such as Commercial Credit Group, which provides heavy equipment financing to the construction, transportation and waste industries, and its subsidiary Manufacturers Capital, a specialist in machine tool and fabrication equipment financing.

It also owns Currency Capital, a company that has developed technology to streamline approval and funding processes for business owners to obtain access to financing from numerous lenders.

These businesses reflect LMP’s strategy of investing in companies that specialize in business service areas to drive customer loyalty and deliver long-term growth.

Brad Armstrong, a partner at LMP, said: “Asset finance is a core sector, so we will be looking for acquisitions if they complement our existing platforms or enable us to develop a separate strategy or special expertise. For asset finance companies, specialisation is critical to be competitive and win.”

For Commercial Credit, a key USP is the level of engagement it has with clients through specialising in their industry sectors, to enable in-depth finance discussions that get to the heart of client strategies. This close relationship with clients means that the majority of its originations come from existing clients.

Armstrong said: “The human touch and expertise is important from the point of view of originating, servicing, and collecting through the full lifecycle of credit. You need engagement.”

As an independent supplier, Commercial Credit is also able to streamline the lending process for companies by offering a single source of finance for multi-brand acquisitions.

Armstrong added: “Its independence provides flexibility that could not be afforded through dealing with a captive. For example, if you acquire a truck and a trailer from different suppliers, that is two agreements with separate captive finance houses, whereas you have a single agreement through Commercial Credit.”

Recent major business wins for Commercial Credit, including construction, transportation and machine tools, show the benefits of such strong industry relationships he said, adding: “The business wins were based on its deep expertise in client categories.”

Another key factor driving business growth is its direct distribution strategy, which further enhances client loyalty and regional sector knowledge.

He said: “Long-term you need a direct distribution model or have very good connections through intermediaries.”

Armstrong was recently made a partner at LMP, which has offices in Philadelphia, Los Angeles and New York.

Since 1999, LMP has raised $1.9 billion of committed capital, enabling it to complete more than 45 portfolio company investments, including the 2012 acquisition of Commercial Credit Group.

Online equipment financing exchange Currency Capital was acquired in 2017 and through its online portal offers small businesses competitively-priced loans for equipment purchases within minutes. This delivers an alternative business model for small businesses that require a ‘one-stop-shop’ that offers convenience and simplicity.

Armstrong said: “For a lot of smaller businesses that have no chief financial officer, having a one-stop-shop is better for them. Convenience is important when you have limited time or resources to source financing.”

For the year ahead, Armstrong says the US economy is looking robust, with companies investing on the back of business-friendly fiscal policies.

As a result, an emerging trend is the growing presence of banks in equipment finance which are looking to increase their market share as the sector continues to provide consistent revenues.

He added: “We are seeing growth through their own recruitment and through their acquisitions. There is an uptick in deal activity.”

This is leading to a decline in independents because acquired companies are not being replaced at the same pace by new entrants, which raises interesting questions about the future development of the market in years to come.

Armstrong is nearing his tenth anniversary with LMP, having joined the business in 2009.

Prior to LMP, he was part of the financial institutions group at Bank of America Merrill Lynch, where he focused on mergers and acquisitions along with capital raising transactions for the firm’s investment banking clients.

He is a former assistant vice president in Bank of America’s finance group and began his career in a strategic advisory group within Wachovia Corporation, following graduation from Kellogg School of Management at Northwestern University, where he received an MBA with a concentration in finance and accounting.

He is currently a member of the boards of directors at a number of LMP companies, including Commercial Credit, Global Financial Credit, LSQ Group Holding and Tortoise Investments.

Armstrong is one of three partnership appointments this year, alongside Jason Barg and Trevor Rich.

At the same time Steven Pierson and Robert Belke have been appointed managing partners with responsibility for running the business day-to-day, overseeing finance, operations, and investor relations, and continuing to grow the team and resources over time.

Pierson will chair a newly-created management committee that includes partners Robert Belke, John Cochran and Spencer Hoffman.

Belke has been appointed chairman of the firm’s investment committee, which includes the management committee members as well as company co-founders Jeffrey Lovell and James Minnick.

Lovell, who remains co-chairman alongside Minnick, said: “These changes ensure the successful continuity of our strong financial and business services franchise through a new leadership structure that positions LMP for further growth over the next 20 years.

“They will improve our organizational management processes, better align the firm’s decision-making resources, and strengthen our teamwork culture.”
Feb 23,
2018

J.S. Held Announces Plans to Acquire Bracken Engineering
02.23.18

J.S. Held Announces Plans to Acquire Bracken Engineering

Jericho, NY – February 23, 2018 – J.S. Held, a leading multidisciplinary consulting firm, today announced that it will acquire Bracken Engineering, a Florida-based consulting company. As a prominent firm specializing in engineering and design sciences, forensics, and construction and disaster support, Bracken Engineering amplifies J.S. Held’s current, extensive portfolio of consulting services.

The acquisition will benefit clients as they have access to property damage consulting, surety services, construction claims consulting, project and program management, equipment consulting, environmental, health and safety services, and engineering services.

Bracken Engineering’s four offices and personnel will transition to the J.S. Held brand. William C. Bracken, PE, founder and CEO of Bracken Engineering, will join J.S. Held as Executive Vice President, National Director of Engineering. In this role, he will continue to lead the engineering consultant team as they address construction defects, property claims, and code, public safety, cost, and risk management issues. David L. Compton, the current President of Bracken Engineering, will join J.S. Held as Senior Vice President, Regional Manager. Robin Davies, Executive Vice President of Bracken will join as Vice President and Forensics Practice Leader.

“We are excited to add Bracken Engineering’s seasoned pool of talent to our already outstanding team of professionals and specialists,” said Jon Held, President and Chief Executive Officer of J.S. Held. “The purchase of Bracken Engineering further strengthens our portfolio of professional consulting services for the insurance, legal, and construction industries. Both brands are aligned in their mission to provide unparalleled technical expertise and client service to their clients.”

Through a growing team of experts, national distribution of offices, and superior technology and processes, J.S. Held continues to exceed client expectations as they bolster their network of professional consulting experts throughout the United States. The acquisition of Bracken Engineering will add approximately 30 licensed and certified specialists.

“With the combined expertise and reach of J.S. Held and Bracken Engineering, our clients will have a comprehensive solution for a variety of complex construction and engineering matters,” said William Bracken. “This partnership is a natural extension of our mission, to be a dependable partner to our customers and a source of excellence to our profession.”

J.S. Held continues its strong growth trajectory, with this being its 11th acquisition following a 2015 investment from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies. Previous acquisitions include Antonucci Consulting Corp., Donohue Consulting, Leighton Associates, Spex, Meridian Consulting, CEIPS, U.S. HELM, Lovett Silverman Construction Consultants, Inc., the Property Loss Division of Chroma Building Corp., and Wakelee Associates.

Since 1974, J.S. Held has added the capabilities of specialized consulting businesses to better address complex construction and environmental matters globally. J.S. Held now has over 45 offices across the U.S. and Canada.

About J.S. Held LLC
J.S. Held is a leading consulting firm specializing in construction consulting and environmental, health and safety services. J.S. Held consultants have provided their expertise on the most complex construction and environmental matters around the globe. The company serves its clients from over 40 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit J.S. Held.
Jan 31,
2018

Lovell Minnick and Tortoise Management Complete Buyout of Tortoise
01.31.18

Lovell Minnick and Tortoise Management Complete Buyout of Tortoise

LEAWOOD, KS and LOS ANGELES, CA – Jan. 31, 2018 – Tortoise Investments and Lovell Minnick Partners today announced the completion of the buyout of Tortoise. As part of the transaction, ongoing management and employees have meaningfully increased their equity ownership of Tortoise, with many investing additional capital alongside Lovell Minnick, who purchased the equity stake held by Mariner Holdings and certain retiring co-founders of Tortoise. Tortoise will maintain its independence and autonomy with its brand, investment processes and day-to-day portfolio management remaining unchanged.

“We are excited to set course with our new partner,” said Tortoise co-founder and Chief Executive Officer, Kevin Birzer. “The asset management expertise and global network that Lovell Minnick brings the partnership will help us to enhance and expand our client solutions.”

“We look forward to partnering with Tortoise and providing the team with strategic and capital support to help them build upon their successful platform of essential assets and income investing,” said Bob Belke, Managing Partner at Lovell Minnick.

Lovell Minnick is joined by a premier group of institutional investors who supported the transaction, including HarbourVest Partners, AlpInvest Partners, and several additional limited partners.

BMO Capital Markets acted as exclusive financial adviser to Mariner Holdings and Evercore acted as exclusive financial adviser to Lovell Minnick. Key Strategic Advisors advised management on the transaction. UBS and Credit Suisse provided committed debt financing for the transaction.

Terms of the private transaction, announced on Oct. 18, 2017, were not disclosed.

About Tortoise
Tortoise invests in assets and services that serve essential needs in society and can also serve essential needs in clients’ portfolios, such as diversification and income. Through a variety of investment vehicles, Tortoise provides a wide range of client solutions, focused on their evolving needs. As of Dec. 31, 2017, Tortoise had $20.2 billion in assets under advisement. For more information, please visit www.tortoiseinvest.com.
Jan 18,
2018

Lovell Minnick Partners Announces Leadership Team Appointments
01.18.18

Lovell Minnick Partners Announces Leadership Team Appointments

Three New Partners Named
Steven Pierson and Robert Belke Appointed Managing Partners

PHILADELPHIA, LOS ANGELES, NEW YORK - January 18, 2018 – Lovell Minnick Partners (LMP), a private equity firm specializing in the financial and business services sectors, today announced a series of leadership team and new Partner appointments designed to further evolve its management and governance structure and to address continued firm growth over the long-term.

Steven Pierson and Robert Belke have been named Managing Partners of LMP, with responsibility for managing the business day-to-day, overseeing finance, operations, and investor relations, and continuing to grow the team and resources over time. Pierson will Chair the newly-created Management Committee that includes Partners Robert Belke, John Cochran and Spencer Hoffman. Belke has been appointed Chairman of the firm’s Investment Committee, which includes the Management Committee members as well as Co-Founders Jeffrey Lovell and James Minnick, who will continue in their current roles as Co-Chairmen. Lovell and Minnick will continue in their roles as Co-Chairmen of the firm’s Board of Managers to which the Committees report.

“These changes ensure the successful continuity of our strong financial and business services franchise through a new leadership structure that positions LMP for further growth over the next 20 years,” said Lovell. “They will improve our organizational management processes, better align the firm’s decision-making resources, and strengthen our teamwork culture.”

Three New Partners Named

LMP also announced the promotion of Brad Armstrong, Jason Barg and Trevor Rich to Partner. The three executives had most recently served as Principals and have each been with the firm more than eight years. The firm simultaneously named Saurabh Desai and Scott Shebelsky as Principals.

“As we approach the start of our third decade as a firm, we are pleased to recognize the invaluable contributions our investment professionals have made to our success,” said Minnick. “Congratulations to our newly promoted Partners and Principals. We are also very pleased to expand the roles of Steve and Bob. Their years of complementary industry experience, investing acumen, business building capabilities, and managerial skills will support our growth for years to come.”

“We share Jeff and Jim’s vision for building upon LMP’s success as a pre-eminent private equity investor in middle market financial and business services companies,” said Pierson. “With the implementation of our expanded leadership structure, we will be better able to support our continued investment success.”

“These promotions and organizational changes enhance our ability to identify and invest in proven management teams of growing, dynamic companies in the financial and business services sectors for the benefit of our investors,” added Belke. “The contributions of Brad, Jason, and Trevor have been invaluable to LMP, and we welcome them to the partnership.”

New Managing Partners

Pierson joined LMP in 2016 and opened its New York office. He serves as a member of the Board of Directors of Engage People, Global Financial Credit, and Trea Asset Management. Steve joined the firm from UBS, where served as the Head of FIG Investment Banking Americas and Global Head of Financial Technology & Services. Prior, he was at Credit Suisse and previously spent 12 years at Putnam Lovell, preceding Lovell Minnick’s founding.

Belke joined LMP in 2000, one year after the firm’s inception, and is resident in the Los Angeles office. He serves on the Board of Directors of Tortoise Investments, J.S. Held, Worldwide Facilities and Keane Holdings. He has spent most of his career with LMP, where he has been involved with helping to build and accelerate the growth of many of the firm’s portfolio companies during the past two decades.

New Partners

Armstrong joined the Philadelphia office of LMP in 2009 and serves on the Board of Directors of Commercial Credit Inc., Global Financial Credit, LSQ Group Holding LLC, and Tortoise Investments. Prior to joining LMP, Brad was part of the Financial Institutions Group at Bank of America Merrill Lynch, where he focused on M&A and capital raising transactions for the firm’s investment banking clients.

Barg joined the Philadelphia office of LMP in 2010 and serves on the Board of Directors of CenterSquare Investment Management, Currency Capital, Foreside Financial Group, and J.S Held. Prior to LMP, Jason was an Investment Banking Associate in Goldman Sachs’ Financial Institutions Group, where he advised clients on transactions involving commercial and trust banks, specialty finance companies, and asset managers.

Rich joined the Los Angeles office of LMP in 2010 and serves on the Board of Directors of Worldwide Facilities and Keane Holdings. Prior to LMP, he was on the corporate development team at Morgan Stanley and participated in the evaluation and analysis of strategic transactions.

New Principals

Desai joined the Philadelphia office of LMP as an Associate in November 2006 and re-joined the firm in June 2012 as a Senior Associate following a two-year hiatus to obtain an MBA. Saurabh has worked on several important transactions including LMP’s investments in CenterSquare Investment Management, Trea Asset Management, and Lincoln Investment Planning.

Shebelsky joined the Philadelphia office of LMP in 2016 from Preferred Sands, where he served most recently as Director, Corporate Development. Scott is a CPA and, prior to Preferred Sands, was a Senior Consultant with Deloitte Tax.
Jan 02,
2018

Lovell Minnick Partners Completes Investment In CenterSquare
01.02.18

Lovell Minnick Partners Completes Investment In CenterSquare

NEW YORK, January 2, 2018 -- BNY Mellon Investment Management, a leading global asset manager, today announced that it has completed the sale of investment boutique CenterSquare Investment Management to the private equity firm Lovell Minnick Partners and CenterSquare’s management team. Originally announced on September 20, 2017, the terms of the transaction were not disclosed.

Todd Briddell, CEO and CIO of CenterSquare Investment Management, said, “We are excited about the next phase of CenterSquare’s evolution, as we continue to bring premier real estate and infrastructure strategies to the market while investing in the development and growth of our company. Lovell Minnick shares our vision for the future of CenterSquare and we are delighted to partner with them.”

“We’re excited to partner with an experienced management team to continue building upon their tremendous success in developing investment solutions that enhance portfolio diversification, and offer inflation protection and higher risk-adjusted return characteristics than traditional asset classes,” said James Minnick, Co-Chairman of Lovell Minnick Partners.

CenterSquare will now operate as an independent entity owned in a partnership between CenterSquare’s management team and Lovell Minnick Partners. BNY Mellon and CenterSquare will continue to collaborate on investment solutions via a number of sub-advisory arrangements.

About CenterSquare
CenterSquare is a global investment manager focused on actively managed real estate and infrastructure strategies. Founded in 1987, CenterSquare manages approximately $8.9 billion of real estate and infrastructure securities and approximately $832 million (gross) of private equity real estate investments as of September 30, 2017. It manages investments for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors.  Learn more at www.centersquare.com.

About BNY Mellon Investment Management
BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.8 trillion in assets under management as of September 30, 2017. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. BNY Mellon Investment Management is part of BNY Mellon, which has $32.2 trillion in assets under custody and/or administration as of September 30, 2017. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com.
Nov 17,
2017

J.S. Held Expands Construction Consulting Practice with its 10th Acquisition
11.17.17

J.S. Held Expands Construction Consulting Practice with its 10th Acquisition

J.S. Held Expands Construction Consulting Practice with Acquisition of Antonucci Consulting Corporation


Jericho, NY – November 17, 2017 – J.S. Held, a leading multidisciplinary consulting firm, today announced that it has acquired Antonucci Consulting Corporation, a New York-based construction consulting company. Antonucci Consulting Corporation’s damage evaluation and catastrophe response experience complements J.S. Held’s portfolio of professional consulting services and further strengthens the company’s coverage along the east coast.

Antonucci Consulting Corporation will operate immediately under the J.S. Held brand. Frank Antonucci Sr., founder of Antonucci Consulting Corporation, will join J.S. Held as Sr. Vice President in the company’s New York metro region, continuing his focus on providing expert property damage evaluations, construction claims consulting services, and response to catastrophes throughout the nation. Frank Antonucci Jr., the current CEO, will join J.S. Held as a Vice President, also in New York.

“This is an exciting time for J.S. Held and we welcome our new team members,” said Jon Held, President and Chief Executive Officer of J.S. Held. “I have known and highly respected Frank Antonucci Sr. for 40 years. He is a gifted and valuable resource in our industry. The chance to work with him at this stage of our respective careers is truly exciting. Under the leadership of his son, Frank Jr., Antonucci Consulting Corp. has maintained a level of continued excellence that we and our clients value highly.”

Through a growing team of experts, national distribution of offices, and superior technology and processes, J.S. Held plans to continue to exceed client expectations as they strengthen their network of professional consulting experts throughout the United States.

“With this partnership in place, our clients with have access to a broader suite of services and a larger, more geographically diverse pool of expert consultants. We will also be able to deliver an enhanced client experience, as we adopt the technology and processes that are successfully in place at J.S. Held,” said Frank Antonucci. “Essentially, we will become a more valuable resource for our clients.”

Clients of Antonucci Consulting Corporation will now have access to J.S. Held’s comprehensive line of services, which includes property damage consulting, surety services, construction claims consulting, project and program management, equipment consulting, and environmental, health and safety services.

J.S. Held continues its strong growth trajectory, with this being its tenth acquisition following a 2015 investment from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies. Previous acquisitions include Donohue Consulting, Leighton Associates, Spex, Meridian Consulting, CEIPS, U.S. HELM, Lovett Silverman Construction Consultants, Inc., the Property Loss Division of Chroma Building Corp., and Wakelee Associates. Since 1974, J.S. Held has added the capabilities of specialized consulting businesses to better address complex construction and environmental matters globally. J.S. Held now has over 40 offices across the U.S. and Canada.

About J.S. Held LLC
J.S. Held is a leading construction consulting firm specializing in property damage consulting, surety services, construction claims consulting, project and program management, equipment consulting and environmental, health and safety services. J.S. Held’s consultants have provided their expertise on the most complex construction and related matters around the globe. The company serves its clients from over 40 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit J.S. Held.
Nov 15,
2017

Bloomberg TV: Lovell Minnick's Pierson Expects More M&A in Europe
11.15.17

Bloomberg TV: Lovell Minnick's Pierson Expects More M&A in Europe

Steve Pierson, Lovell Minnick Partners president, discusses Cerberus taking a stake in Deutsche Bank. He speaks with Bloomberg's Jason Kelly on "Bloomberg Markets."
Click to view a clip of the Bloomberg interview with Steve Pierson
Oct 18,
2017

Lovell Minnick And Tortoise Management To Acquire Tortoise
10.18.17

Lovell Minnick And Tortoise Management To Acquire Tortoise

LEAWOOD, KS and LOS ANGELES, CA – Oct. 18, 2017 – Tortoise Investments and Lovell Minnick Partners today announced the signing of a definitive agreement for a buyout of Tortoise, a leader in essential assets and essential income investing. Terms of the private transaction were not disclosed.

As part of the transaction, ongoing management and employees are expected to meaningfully increase their ownership of Tortoise. Employees will retain a significant equity interest, with many investing additional capital alongside Lovell Minnick, who will purchase the equity stake held by Mariner Holdings and retiring co-founders of Tortoise.

“We are excited and energized by our fit with the team at Lovell Minnick,” said Tortoise chief executive officer and co-founder, Kevin Birzer. “Their substantial expertise investing in asset management companies, along with their extensive and global industry network, are second to none. We believe this partnership will deepen our financial flexibility to facilitate strategic growth, which also provides opportunities to develop and retain employees. Most importantly, Tortoise will remain focused on our goal of delivering strong returns to our clients while providing top quality service.”

“Tortoise is a market leader in essential assets and essential income investing with differentiated actively managed and passive energy and fixed income solutions,” said Bob Belke, a partner at Lovell Minnick. “We are excited to partner with Tortoise and its talented management team, and we look forward to providing Tortoise with strategic and capital support to help further enhance and expand its client solutions.”

Tortoise will maintain its independence and autonomy with its brand, investment processes and day-to-day portfolio management remaining unchanged. Members of Tortoise’s senior management and its portfolio managers have signed long-term employment agreements to remain with Tortoise. Three co-founders, Zachary Hamel, Kenneth Malvey and Terry Matlack, will sell their remaining interest in Tortoise and retire from Tortoise upon closing of the transaction. Co-founder David Schulte, who left Tortoise in 2015, will also sell his remaining interest in Tortoise.

“I’d like to thank my fellow co-founders, Zach, Ken, Terry and Dave, for helping to build Tortoise into the market leader it is today,” said Birzer. “I’m also grateful for the valuable support and partnership with Mariner over the past eight years. Together, we have turned a business idea into approximately $20 billion in assets under advisement at Tortoise and helped lead the development of the institutional master limited partnership (MLP) investment industry. We are looking forward to continued success with our new partner, Lovell Minnick.”

Lovell Minnick is joined by a premier group of institutional investors, including HarbourVest Partners, AlpInvest Partners, and several additional limited partners, who are supporting the transaction.

BMO Capital Markets acted as exclusive financial adviser to Mariner Holdings and Evercore acted as exclusive financial adviser to Lovell Minnick. Key Strategic Advisors advised management on the transaction. UBS and Credit Suisse are providing committed debt financing for the transaction.

Independent directors and the full boards of Tortoise’s registered funds have approved new advisory agreements as a result of the transaction. The transaction is expected to close by the end of the first quarter of 2018, subject to standard regulatory, client and fund shareholder approvals.

About Tortoise
Tortoise is a leader in essential assets and essential income investing. Through its registered advisers, Tortoise provides investors access to differentiated active and passive investment solutions and market insights and had $20.2 billion assets under advisement as of Sept. 30, 2017. For more information, please visit www.tortoiseinvest.com.

Forward-looking statements
This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are “forward-looking statements.” Although Tortoise and Lovell Minnick believe the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Tortoise registered funds’ reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, Tortoise and Lovell Minnick do not assume a duty to update any forward-looking statement. There is no assurance that any transaction will be completed.
Sep 20,
2017

BNY Mellon Investment Management Announces Sale Of The CenterSquare Business To CenterSquare Management & Lovell Minnick Partners
09.20.17

BNY Mellon Investment Management Announces Sale Of The CenterSquare Business To CenterSquare Management & Lovell Minnick Partners

New York, September 20, 2017 – BNY Mellon Investment Management, a leading global asset manager, today announced that it has entered into a definitive agreement to sell the business of real assets investment boutique CenterSquare Investment Management to its management team and private equity firm Lovell Minnick Partners.

Founded in 1987 and headquartered near Philadelphia, CenterSquare Investment Management has approximately $9 billion in assets under management in U.S. and global real estate and infrastructure investments. Founded in 1999, Lovell Minnick Partners has a long and successful track record of investing across the investment management, distribution, and advisory value chain.

“CenterSquare is a highly respected real assets investment manager and teaming up with Lovell Minnick will ensure that CenterSquare continues to thrive. For BNY Mellon Investment Management, this transaction meets our strategy of streamlining our portfolio to provide a focused set of specialist investment solutions for clients via our global distribution network. We will continue to offer real asset investment solutions through our other investment boutiques.” said Mitchell Harris, CEO of BNY Mellon Investment Management. “We wish Todd Briddell and the entire CenterSquare team well and thank them for their contributions as part of BNY Mellon.”

“We believe this transaction will position us to continue to optimize client solutions and pursue sustainable growth initiatives in a rapidly evolving investment landscape. Our firm has enjoyed significant growth over the last 11 years with BNY Mellon and we will continue our partnership via a number of sub-advisory relationships,” said Todd Briddell, CEO of CenterSquare. “We look forward to partnering with Lovell Minnick, and tapping their resources and deep experience in investment management as we grow our business and further enhance the solutions that we offer to our clients.”

“CenterSquare’s market-leading position is a testament to the management team’s deep experience developing attractive and durable real asset investment solutions that provide strong investment returns for clients,” said James Minnick, Co-Chairman of Lovell Minnick Partners.

“We see an opportunity to enhance distribution and development of CenterSquare’s premier real assets platform, and to leverage our track record in building investment management businesses to help the team drive further growth and client success,” added Jason Barg, Principal at Lovell Minnick.

Terms of the transaction were not disclosed. The transaction is subject to standard regulatory and other required approvals and is expected to be completed by year end 2017.

About CenterSquare
CenterSquare is a global investment manager focused on actively managed real estate and infrastructure strategies. Founded in 1987, CenterSquare manages approximately $8.0 billion of real estate and infrastructure securities through CenterSquare Investment Management, Inc. and approximately $1.3 billion (gross) of private equity real estate investments through CenterSquare Investment Management Holdings, Inc. (together referred to as “CenterSquare”), as of June 30, 2017. It manages investments for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors.

About BNY Mellon Investment Management
BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers, with $1.8 trillion in assets under management as of June 30, 2017. It encompasses BNY Mellon’s affiliated investment management firms, wealth management services and global distribution companies. BNY Mellon Investment Management is a division of BNY Mellon which has $31.1 trillion in assets under custody and/or administration as of June 30, 2017. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Sep 18,
2017

TriState Capital Listed As One Of Fortune’s 100 Fastest-Growing Companies
09.18.17

TriState Capital Listed As One Of Fortune’s 100 Fastest-Growing Companies

PITTSBURGH, September 18, 2017 – Fortune named TriState Capital Holdings, Inc. (NASDAQ: TSC) to its annual 100 Fastest-Growing Companies list, citing the financial services company’s 33% growth in earnings per share, 20% growth in revenue and 21% total return on a three-year annualized basis.

The parent company of TriState Capital Bank and Chartwell Investment Partners’ three-year EPS growth rate ranked seventh among the 17 U.S. commercial banks on Fortune’s Fastest Growing Companies list. Overall, Fortune ranked TriState Capital 11th among U.S. commercial banks and 90th among all 100 Fastest Growing Companies listed on major U.S. stock exchanges.

The financial services company’s performance reflects strong contributions from its regional middle-market commercial banking, national private banking, and national investment management businesses, enabling the company to achieve annual average organic loan growth of 20% since June 2014 and expand non-interest income from about 8% of revenue three years ago to 34% for the most recent quarter.

“As an organization with a relationship-driven sales culture and a strong commitment to delivering meaningful and sustainable earnings growth for its shareholders, we are very proud that our top- and bottom-line performance earned us a place on Fortune’s Fastest Growing Companies ranking just four years after TriState Capital’s initial public offering,” Chairman and Chief Executive Officer James F. Getz said.

Fortune ranks its 100 Fastest Growing Companies list by “revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 30, 2017. (To compute the revenue and EPS growth rates, Fortune uses a trailing-four-quarters log linear least square regression fit.)” More information on the ranking and methodology are available in the September 15, 2017 issue of Fortune and at http://fortune.com/100-fastest-growing-companies.

ABOUT TRISTATE CAPITAL
TriState Capital Holdings, Inc. (NASDAQ: TSC) is a bank holding company headquartered in Pittsburgh, Pa., providing commercial banking, private banking and investment management services to middle-market companies, institutional clients and high-net-worth individuals. Its TriState Capital Bank subsidiary had $4.2 billion in assets, as of June 30, 2017, and serves middle-market commercial customers through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, N.J., and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. Its Chartwell Investment Partners subsidiary had $8.0 billion in assets under management, as of June 30, 2017, and serves as the advisor to The Berwyn Funds and Chartwell Mutual Funds. For more information, please visit http://investors.tristatecapitalbank.com.
Aug 02,
2017

Commercial Credit, Inc. Completes Acquisition Of Transfac Capital, Inc.
08.02.17

Commercial Credit, Inc. Completes Acquisition Of Transfac Capital, Inc.

Charlotte-based equipment finance company establishes accounts receivable factoring operation.

CHARLOTTE, NC (August 1, 2017) – Commercial Credit, Inc., parent company of Commercial Credit Group Inc. (CCG), a leading independent commercial equipment finance company, today announced the purchase of the business operations of Transfac Capital, Inc., thus expanding into the accounts receivable factoring business. With the closing of the transaction, Salt Lake City-based Transfac Capital, Inc. will operate as a subsidiary of Commercial Credit, Inc and a sister company to CCG and will continue to provide accounts receivable factoring to middle-market companies nationwide.

“The acquisition of Transfac Capital, an independent, industry leader, allows us to expand into a line of business which is highly complementary to CCG, our equipment finance business.” notes Commercial Credit CEO, Dan McDonough. “It was very important to add a scalable business focused on the middle-market, ensuring our ability to provide the best possible working capital solutions to CCG’s customers and conversely equipment finance to Transfac Capital’s customers. The Transfac team is quite accomplished and I cannot think of a better cultural fit.”

With roots extending back 75+ years, Transfac Capital prides itself on being one of the longest operating financial service providers in the country. Formed as a co-op created to process invoices for the transportation industry, Transfac Capital has evolved into a full-service accounts receivable finance provider for a variety of industries.

About Commercial Credit, Inc.:
Commercial Credit, Inc., through its wholly owned subsidiaries Commercial Credit Group Inc. (including its division Manufacturers Capital) and Transfac Capital, Inc., provides secured loans and leases to small and mid-sized businesses in the construction, fleet transportation, machine tool and manufacturing and waste industries and accounts receivable factoring in a variety of industries. The company’s sales force is located throughout North America. Commercial Credit Inc. is headquartered in Charlotte, NC and operates full service offices in Buffalo, NY, Naperville, IL, Hamilton, ON and Salt Lake City, UT. For more information, please visit www.commercialcreditgroup.com, www.mfrscapital.com and www.transfac.com.
Aug 01,
2017

Lovell Minnick Partners Hires Vice President
08.01.17

Lovell Minnick Partners Hires Vice President

NEW YORK – AUGUST 1, 2017 – Lovell Minnick Partners, a private equity firm specializing in the financial and business services sectors, today announced that Roumi Zlateva has joined the firm’s New York office as a Vice President. Ms. Zlateva will assist with the firm’s evaluation of new investment opportunities, due diligence and transaction structuring.

Ms. Zlateva brings broad experience in principal investing and corporate advisory work to her new position at Lovell Minnick. Most recently, she served as Director in the Financial Institutions Group at UBS Securities, providing strategic advice and transaction support to clients in the specialty finance sector.

“Roumi’s skills and experience in corporate advisory, origination and structuring are highly complementary to Lovell Minnick as we continue to build our team of talented professionals,” said Jeffrey Lovell, Co-Chairman of Lovell Minnick Partners. “We believe her previous experience in private equity, along with her portfolio company management skills and results-driven work ethic, will help further strengthen our investment and operational capabilities.”

“Lovell Minnick Partners is one of the premier investors in financial services, and I’m looking forward to taking on this new role,” said Zlateva. “I believe my experience in identifying, executing and managing investments across the financial services industry will fit well with Lovell Minnick’s successful track record in building market-leading businesses.”

Prior to UBS, Ms. Zlateva was an Associate at Oak Hill Capital Partners focused on investments in the business and financial services sectors. She previously served as an Analyst in the Financial Institutions Group of Morgan Stanley. Ms. Zlateva graduated with High Honors in Mathematical Economics from Colgate University.
Jul 05,
2017

J.S. Held Expands Environmental Consulting Business With Acquisition Of Leighton Associates
07.05.17

J.S. Held Expands Environmental Consulting Business With Acquisition Of Leighton Associates

JERICHO, N.Y. – July 5, 2017 – J.S. Held LLC, a leading, national, multi-disciplinary consulting firm, today announced the acquisition of Leighton Associates, Inc. (“Leighton Associates”). Robert Leighton, founder, president and technical director of Leighton Associates, joins J.S. Held as Senior Vice President. Financial terms of the private transaction were not disclosed.

Leighton Associates is an environmental health consulting firm specializing in industrial hygiene, indoor air quality, environmental health and safety investigations and training, as well as mold assessments and mold remediation planning and consulting. The company will join the Environmental, Health & Safety Services division of J.S. Held, which is led by Executive Vice President, Tracey Dodd.

“We are excited to welcome Leighton Associates to the J.S. Held team. Since expanding into the environmental, health and safety arena last year, our clients have expressed a desire for us to extend our offering into the Northeast market,” said Jon Held, President and Chief Executive Officer of J.S. Held. “The proven capabilities of Leighton Associates ensure we can increase our level of service to our clients in the Northeast, and leverage the Leighton brand and existing relationships to provide broader support to their clients.”

Founded in 1992, Leighton Associates has served a wide variety of clients throughout the United States, including state and local municipalities, insurance companies, real estate development and property management firms, contractors, law firms, retail establishments, schools, universities, landlords, and private owners. Services include air quality testing and consulting, project management and training for mold identification and remediation.

“J.S. Held has a stellar reputation for high quality technical talent and unwavering commitment to clients, so we are very excited to join forces,” said Leighton. “We look forward to working closely with Tracey and the rest of the team as we further expand our environmental, safety, and industrial hygiene consulting footprint throughout the U.S.”

This is the eighth acquisition J.S. Held has made since receiving a controlling investment in 2015 from Lovell Minnick Partners, a private equity firm specializing in investing in financial business services companies. Previous acquisitions include Spex, Meridian Consulting, CEIPS, U.S. HELM, Lovett Silverman Construction Consultants, Inc., the Property Loss Division of Chroma Building Corp., and Wakelee Associates. J.S. Held now has over 35 offices across the U.S. and Canada.

About J.S. Held Established in 1974, J.S. Held is a leading consulting firm specializing in construction consulting, property damage assessment, surety services, project and program management, and environmental, health & safety services. The organization is committed to three fundamental pillars: to provide high quality technical expertise; to deliver an unparalleled client experience; and to be a catalyst for change. J.S. Held is a leading global consulting firm, respected for its exceptional success addressing complex construction and environmental matters in the world. The team is a group of multi-talented professionals, bringing together years of technical field experience among all facets of projects including commercial, industrial, high rise, special structures, governmental, residential, and infrastructure.

About Leighton Associates Leighton Associates, Inc. is an environmental consulting company specializing in indoor air quality, environmental investigations, and mold remediation. Founded in 1992, Leighton Associates serves a wide variety of clients including state and local municipalities, insurance companies, contractors, law firms, retail stores and individuals. Leighton Associates services include air quality testing and consulting, project management and training for mold identification and remediation.
May 08,
2017

J.S. Held Makes Majority Investment In Spex, Leading Insurance Technology Platform
05.08.17

J.S. Held Makes Majority Investment In Spex, Leading Insurance Technology Platform

InsurTech company expands to provide best-in-class digital inspection software to the P&C industry

J.S. Held to assist in development of claims technology solution for property insurance businesses

JERICHO, NY and DENVER, CO – May 8, 2017 – J.S. Held, a leading global multi-disciplinary consulting firm, today announced an investment in Spex, a digital property inspection and reporting platform for the property and casualty industry. J.S. Held will become a majority owner in Spex which will continue to be led by its current management team. Financial terms of the private transaction were not disclosed.

Founded in 2012 to enhance the methodology of property claims handling, Spex has built a data driven platform to streamline the process of property inspection and related work. The Spex platform provides an easy to use tool for on-site inspections, allows for better collection and organization of data, and creates greater efficiencies and transparency during the claims handling process. The company offers a highly configurable platform with intuitive mobile apps, robust project management capabilities, API connectivity, online and offline functionality and a variety of integration options for residential and commercial use.

“As a Spex customer, we have been impressed by its ease of use, robust functionality and systems integration capabilities, resulting in significant field reporting and file management productivity improvements,” said Jon Held, President and Chief Executive Officer of J.S. Held. “We are confident carriers, adjusters, and underwriters will embrace the enhanced communications, visibility, management, and efficiency of the Spex platform to assist in accurate and timely analysis of insurance claims and underwriting review.”

The Spex team will continue to be led by Chief Executive Officer Brett Goldberg, Chief Technology Officer Levi Cook and Founder & Chief Product Officer David Cockrel. Together, the team has over 50 years of experience working in technology and insurance businesses.

“Quality inspection documentation is the key to a positive claims experience,” said Goldberg. “We launched Spex as a solution that leads to consistent, complete, and timely data. Spex provides streamlined workflows, transparency between all claims stakeholders, and a more efficient claims handling process – not to mention how easy it is to use. We are encouraged to see how carriers and their service providers are accelerating the adoption of technology. We are confident that Spex will become a digital standard in the insurance claim arena and are pleased to be teaming up with J.S. Held moving forward.”

Established in 1974 and based in Jericho, NY with offices nationwide, J.S. Held is a leader in construction and environmental consultation services including property damage consulting, surety services, construction claim analysis, program and project management, and environmental, health and safety services. Including the acquisition of Spex, the company has added the capabilities of seven specialized consulting businesses since Lovell Minnick Partners acquired J.S. Held in 2015.

About J.S. Held:
J.S. Held is a leading construction consulting firm specializing in property damage consulting, surety services, construction claims consulting, project and program management, equipment consulting and environmental, health and safety services. J.S. Held’s consultants have provided their expertise on the most complex construction and related matters around the globe. The company serves its clients from over 40 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.

About Spex:
After spending a combined total of more than 25 years working for some of the largest insurance companies and contracting firms in the country, the founders of Spex came to a sobering conclusion: the property inspection process was stressful, complicated and downright miserable for each and every party involved. Determined to turn this negative experience into a positive and effective one, the Spex team set out to create a digital inspection platform that would improve quality control and business rules at the point-of-inspection. With Spex, businesses can demonstrate that they are serious about customer service, professionalism and quality inspection documentation. Follow Spex on LinkedIn and Twitter and to learn more, please visit http://www.spexreport.com.
Apr 12,
2017

Lovell Minnick Partners Completes Majority Investment In Global Financial Credit
04.12.17

Lovell Minnick Partners Completes Majority Investment In Global Financial Credit

RADNOR, Pennsylvania – April 12, 2017 – Lovell Minnick Partners, a private equity firm specializing in financial and business services companies, today announced that it has completed a majority investment in Global Financial Credit, a commercial and consumer finance company that provides specialized working capital solutions to healthcare providers and pre-settlement funding to consumers. Terms of the private transaction were not disclosed.

Through its MedChex and ChiroCapital brands, Global Financial helps physical therapy centers, chiropractors, and other healthcare providers receive payment for care rendered to accident victims. In addition, Global Financial extends financing to injured individuals to help them cover healthcare and living expenses during their recovery. Founded in 2002, the Company sources business through direct marketing and has an extensive business referral network that includes healthcare providers and law firms.

“Global Financial Credit has established an impressive platform, and we’re excited to help the current management team build upon its track record of strong organic growth, including expanding its healthcare coverage footprint,” said Steve Pierson, President of Lovell Minnick Partners. “An early leader in the industry, the company has a seasoned risk management process refined over more than fifteen years of operation and hundreds of thousands of transactions, providing a solid foundation. One of our priorities will be to support Global Financial Credit’s continued growth through acquisitions that build greater scale in its core markets, including healthcare.”

Global Financial Credit’s current management team will continue to manage the company post-closing. Extending beyond its historical focus on pre-settlement advances, the company formed MedChex in 2005 to assist MRI and physical therapy centers with financing treatment procedures in connection with case-related injuries. ChiroCapital was formed in 2010 to aid chiropractors and physical therapists with receiving payments for services provided to accident victims.

“We are excited to work with Lovell Minnick. They are the natural partner for us, given their relevant domain expertise and collaborative approach to business-building,” said Wensley McKenney, CEO of Global Financial Credit. “Lovell Minnick’s resources will enable us to further capitalize on the opportunities that lie ahead, bringing their resources to bear with acquisitions, financing relationships, and other corporate development efforts.”

Lovell Minnick has extensive experience in supporting growing businesses across financial services, including specialty finance companies. Within specialty finance, Lovell Minnick’s portfolio companies include: Commercial Credit, an independent specialty finance company that provides equipment financing for commercial and industrial equipment; LSQ Funding, a leading technology-enabled provider of working capital solutions to small and mid-sized businesses; and Currency Capital, a leading online equipment financing exchange serving owners of small and medium-sized companies.

Keefe Bruyette & Woods, a Stifel Company, acted as financial advisor, and Davis Graham & Stubbs and Katten Muchin Rosenman served as legal advisors to Lovell Minnick. Bray & Long served as legal advisor to Global Financial Credit.

About Global Financial Credit:
Global Financial Credit provides financial solutions to healthcare providers and individuals following personal injury events. Founded in 2002, Global Financial is headquartered in White Plains, NY, and has operations in Charlotte, NC. Through the Global Financial, MedChex, and ChiroCapital brands, the Company provides medical lien funding and pre-settlement advances to underserved credit markets across the entire United States.
Mar 18,
2017

J.S. Held Acquires Meridian Consulting Group To Expand Surety Practice
03.18.17

J.S. Held Acquires Meridian Consulting Group To Expand Surety Practice

Jericho, NY – March 18, 2017 – J.S. Held, a leading global multi-disciplinary consulting firm, today announced the acquisition of Meridian Consulting Group LLC. It is the company’s sixth acquisition in the last two years. Meridian provides construction consulting and management services as well as claims resolution and litigation support to the surety industry. Financial terms of the private transaction were not disclosed.

Meridian Consulting Group was formed in 1986 by a group of experienced construction professionals with a commitment to providing responsive, professional services focused on the needs and expectations of clients. Today, Meridian is engaged by clients across the country to evaluate and manage troubled construction projects, evaluate contract compliance, monitor environmental projects, and provide expert testimony and litigation support. Clients have included Capitol Indemnity Corporation, International Fidelity Insurance Company and Liberty Mutual Insurance, among others.

“We are thrilled to welcome Doug Fritz, Allen Thibodeaux and all the employees of Meridian to our team,” said Jon Held, President and Chief Executive Officer of J.S. Held. “Like J.S. Held, Meridian’s success and national recognition as a leading consulting firm is based on its professional staff of construction managers, engineers, accounting and technical support personnel who have extensive experience in claims analysis and contract compliance issues. They are important additions to our surety practice.”

Meridian will be rebranded as J.S. Held and join the J.S. Held Surety Services division. In June of 2016, J.S. Held expanded into surety services through the acquisition of Lovett Silverman Construction Consultants. The addition of the Meridian team will bolster J.S. Held’s surety division in the Southwest.  Meridian will be integrated with the surety team under the direction of J.S. Held Senior Vice President, John Lovett.

Established in 1974 and based in Jericho, New York, J.S Held is a leader in construction consulting and environmental, health, and safety services with offices located nationwide and in Canada.

“We look forward to bringing our combined experience and construction and engineering backgrounds to J.S. Held,” said Fritz, who has been named a Vice President of J.S. Held. “Our full range of project management services and understanding of underlying issues that often give rise to, or form the basis for, disputes will be highly complementary to J.S. Held’s existing surety capabilities.”

Morgan Lewis served as legal counsel to J.S. Held on the deal.

About J.S. Held LLC
J.S. Held is a leading consulting firm specializing in construction consulting and environmental, health and safety services. J.S. Held consultants have provided their expertise on the most complex construction and environmental matters around the globe. The company serves its clients from over 40 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.

Meridian Consulting Group LLP
Meridian provides construction expertise to those insurance companies competing in the surety (performance and payment) bond and professional liability marketplaces. In addition, Meridian provides a full range of construction related services to legal firms, financial institutions, contracting agencies and private project owners. For more information, visit www.meridianconsulting.net.
Feb 21,
2017

Lovell Minnick Partners Announces Growth Investment In Trea Asset Management
02.21.17

Lovell Minnick Partners Announces Growth Investment In Trea Asset Management

Transaction Marks Firm’s First Investment in Europe

NEW YORK and BARCELONA – FEBRUARY 20, 2017 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced that it has completed a significant growth investment in Trea Asset Management (“Trea” or “the Company”), a leading independent asset management firm in Spain. Terms of the private investment were not disclosed.

Founded in 2006 and with offices in Barcelona and Madrid, Trea currently has approximately €2.8 billion of assets under management. The firm manages traditional mutual funds across equities, fixed income, balanced, and fund of funds primarily through exclusive distribution partnerships with its bank partners, its own branded funds and alternative private equity and credit products.

The Lovell Minnick Partners investment will provide capital to support the continued growth of Trea and its acquisition of Banco Madrid Asset Management, which manages €1.3 billion of mutual fund assets primarily through its distribution partnership with Banco Mare Nostrum. Trea will remain majority owned by its Chairman and Founder Carlos Tusquets, who founded Spain’s first private bank (Fibanc), as well as Vice Chairman Ramón Betolaza, and CEO/CIO Antonio Muñoz.

“Trea‘s management team has demonstrated unparalleled success in creating bank partnerships and developing unique products to meet growing demand from retail customers for higher yielding investment options,” said Steve Pierson, President of Lovell Minnick Partners. “We are thrilled to partner with Trea and its talented management team in executing their growth plans. It is also gratifying to source our first proprietary investment in Spain, one of the key markets in Europe where we are seeing attractive growth opportunities in financial and business services.”

Lovell Minnick’s current asset management portfolio companies include Matthews International Capital Management and 361 Capital.

The acquisition of Banco Madrid Asset Management will boost the Company’s assets under management to over €4 billion and create a new distribution partnership with Banco Mare Nostrum, in addition to its existing relationships with Cajamar and Banco Mediolanum.

“We are confident that Lovell Minnick Partners’ proven experience in scaling asset management businesses will help support the growth of Trea and enhance our operations, sales and distribution capabilities,” said Munoz. “We continue to focus on providing a complete range of asset management services to Spain’s underserved retail investors through our bank partners.”

Spain’s asset management industry has grown significantly over the last several years as banks, which account for more than 85 percent of the country’s assets under management, continue to outsource their investment product management activities to experienced third party asset managers, such as Trea. At the same time, Spain’s economic expansion – characterized by well above average Eurozone GDP growth, an uptick in consumer spending, significantly reduced unemployment, and low interest rates – are causing the country’s retail investors to shift their cash out of savings accounts and money market funds into higher returning mutual funds and alternative assets.

Rothschild & Co. served as financial advisor to Lovell Minnick and GBS Finanzas advised Trea.

About Trea Asset Management
Trea Asset Management is an independent asset manager with offices in Barcelona and Madrid, specializing in managing both traditional and alternative funds for institutional clients. Trea is registered with the CNMV (Spanish regulator) with European Passport and approved to manage UCIT funds, SICAV, Unit linked and alternative funds in Spain, Ireland and Luxembourg. Trea has been managing the Spanish funds for Banco Mediolanum since 2010, and became the exclusive manager for Grupo Cajamar’s funds since December 2015, and for Banco Mare Nostrum in February 2017.
Feb 15,
2017

CCG Completes Acquisition Of Machine Tool Finance Business
02.15.17

CCG Completes Acquisition Of Machine Tool Finance Business

CHARLOTTE, NC (February 15, 2017) – Commercial Credit Group Inc. (CCG), a leading independent commercial equipment finance company, today announced the purchase of the machine tool finance business of Manufacturers Capital, LLC., thus expanding into the machine tool and manufacturing industry. With the closing of the transaction, the Manufacturers Capital team will operate as a division of CCG and will continue to provide outstanding service to the machine tool and manufacturing industries.

“The acquisition of Manufacturers Capital, an independent, industry leader, allows us to expand into a new, yet similarly structured market to our existing business, led by a very accomplished group of professionals,” notes CCG Co-founder and CEO, Dan McDonough. “Many senior managers of CCG have previously worked with Mr. Goose and the Manufacturers Capital team and I cannot think of a better cultural fit to further enhance our growth opportunities.”

“CCG’s significant funding capabilities and operating scale enable us to enhance our industry-leading customer experience by offering an extensive selection of financing options. The similarities in our cultures and senior management provide for a seamless transition to our new partner. The entire Manufacturers Capital team is excited to become part of the CCG family.” said Senior Vice President, David Goose.

MANUFACTURERS CAPITAL provides commercial loans and leases for machine tool and fabrication equipment to manufacturing companies located throughout the United States. The Manufacturers Capital team uses its knowledge of the machine tool market to develop close relationships with equipment vendors in order to deliver custom tailored finance solutions to end-user manufacturing customers.
Feb 07,
2017

Lovell Minnick Partners To Acquire A Majority Stake In Foreside Financial Group
02.07.17

Lovell Minnick Partners To Acquire A Majority Stake In Foreside Financial Group

RADNOR, Pennsylvania – February 7, 2017 – Lovell Minnick Partners, LLC, a private equity firm specializing in financial and related business services companies, today announced the signing of a definitive agreement to acquire a majority stake in Foreside Financial Group, LLC (“Foreside”). Foreside provides a variety of regulatory compliance and distribution solutions to clients in the investment management industry. Financial terms of the private transaction were not disclosed.

Established in 2005 and based in Portland, Maine, Foreside has quickly grown to become a U.S. market leader in its space, and enjoys an excellent reputation as a best-in-class service provider across its mix of services. The company is led by Chief Executive Officer Richard Berthy and President Dave Whitaker, who will remain shareholders and continue in their current management roles.

Foreside delivers outsourced services to investment advisers and broker dealers, including the financial products they manage or distribute. Servicing over $800 billion of fund products, Foreside offers outsourced solutions for legal underwriting, FINRA licensing, compliance consulting, fund officer services and trust governance. Demand for Foreside’s services is likely to continue to grow as a result of increasing and costly fund compliance requirements, growing risk management needs, new fund launches, AUM growth and greater cross-border investment activity.

“Our relationship with Lovell Minnick goes back many years, and we share a strategic vision to achieve greater scale in our core distribution and compliance services for investment managers and their funds, both in the U.S. and offshore markets,” said Berthy. “Lovell Minnick has an excellent track record of partnering with financial services firms in the investment management industry, and their capital and strategic insight will help us grow our client base and offerings while ensuring that we continue to deliver first class service.”

Lovell Minnick believes the market opportunity for outsourced fund and compliance services is compelling. The firm holds ownership stakes in several of Foreside’s existing clients, including 361 Capital, Chartwell Investment Partners, and Matthews International Capital Management.

“As one of the most respected outsourced service providers in the asset management industry, Foreside is uniquely positioned to help clients navigate the changing financial and regulatory landscape,” said Spencer Hoffman, a Partner at Lovell Minnick. “We look forward to working closely with Rich, Dave and the rest of Foreside’s strong management team as they execute their strategy to grow the business and to further broaden the scope of services they provide.”

The transaction is expected to close in the second quarter of 2017, subject to customary regulatory reviews and approvals. Morgan, Lewis & Bockius, LLP served as legal counsel to Lovell Minnick Partners.

About Foreside
Foreside delivers a range of distribution and compliance solutions to clients in the investment management industry. Foreside services open- and closed-end funds, exchange traded products, commodity pools, private placements, investment advisers and registered broker-dealers.

Foreside’s service offerings include legal underwriting, FINRA licensing, adviser and broker-dealer compliance consulting, fund officer services, and trust governance. Currently, Foreside distributes over $800 billion of product through our established broker-dealers. Foreside’s solutions allow its clients to focus on asset management without sacrificing distribution and compliance best practices. Foreside is headquartered in Portland, Maine and has offices in Berwyn, Pennsylvania, Boston, Massachusetts, and Columbus, Ohio. For more information on Foreside’s suite of services, please visit our website at www.foreside.com.
Jan 30,
2017

Lovell Minnick Partners Announces Investment In Currency Capital
01.30.17

Lovell Minnick Partners Announces Investment In Currency Capital

LOS ANGELES – JANUARY 30, 2017 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced that it has made a growth capital investment in Currency Capital, LLC, a leading online equipment financing exchange serving owners of small- and medium-sized companies. The investment will support Currency Capital’s growth strategies. Financial terms of the private transaction were not disclosed.

Headquartered in Los Angeles, Currency Capital will continue to be led by CEO Charles Anderson and his experienced executive team who will retain a significant equity interest in the company.

Currency Capital’s online portal enables business owners to receive competitively priced loans for equipment purchases. The expedited approval process allows borrowers to receive funding rapidly and often the same day. This contrasts with the weeks- or months-long process typically involved with obtaining credit from traditional lenders. With Currency Capital, borrowers are provided with unparalleled, instant access to financing options from hundreds of lenders with “one click,” making the entire application, selection, approval and funding process simple and transparent.

“Charles and his team are transforming the $1.7 trillion equipment purchase industry, empowering American business owners to meet their capital-buying needs at the point of sale in a convenient, seamless and efficient manner,” said John Cochran, Partner at Lovell Minnick. “By originating, processing and servicing transactions, Currency Capital brings together buyers of varied credit profiles, sellers and equipment funding sources.”

Currency Capital provided approximately $150 million in loans to customers in 2016. Equipment buyers are also able to purchase equipment for sale by the Company’s industry-leading partners: eBay, Big Tex Trailers, IronPlanet and Proxibid.

“Our partnership with Lovell Minnick is further validation of the significant market opportunity we identified in 2012 to provide independent and small business owners with fast, on-demand and reliable financing,” said Anderson, who also serves as the Executive Director of the Commercial Equipment Marketplace Council. “Our vision is build an end-to-end equipment financing exchange so that our platform will empower business owners to ask Siri, ‘find me a dump truck for $200/mo.’ And for Siri to respond with, ‘where and when would you like the dump truck to be delivered?’ We are approaching this massive market in the same way that Amazon is approaching traditional retail.”

Lovell Minnick’s portfolio companies include LSQ Funding, a leading technology-enabled provider of working capital solutions to small and mid-sized companies; and Commercial Credit Inc., an independent specialty finance company that provides secured loans and leases for commercial and industrial equipment.

American Discovery Capital served as financial advisor/merchant bank to Currency Capital.
Jan 19,
2017

Lovell Minnick Partners Names Irene Hong Edwards Principal And Head Of Investor Relations
01.19.17

Lovell Minnick Partners Names Irene Hong Edwards Principal And Head Of Investor Relations

RADNOR, PA – JANUARY 19, 2017 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced that Irene Hong Edwards has joined the firm as Principal and Head of Investor Relations.

“We are thrilled to welcome Irene to Lovell Minnick as we build out investor relations to better serve our limited partners,” said Co-Chairman Jeffrey D. Lovell. “We are confident her depth of experience on both the fundraising and investor relations fronts will prove to be valuable assets as we nurture our very important existing investor relationships and cultivate new ones.”

Ms. Hong Edwards, who will be based in New York, brings to Lovell Minnick more than 15 years of experience in alternative investments as an investor relations and business development professional as well as her investment professional experience. She was most recently a Managing Director at Z Capital where she was responsible for investor relations and business development for the firm’s private equity and credit strategies. Hong Edwards previously served as Vice President of Investor Relations for KPS Capital Partners, L.P., and was a member of the placement agent arm of Jefferies & Co. Inc. Earlier in her career, she worked at Lexington Partners on the secondaries team evaluating, executing and monitoring investments.

“Lovell Minnick Partners has a long and successful track record in the private equity industry as an astute investor in financial and business services, and I am excited to join this experienced team,” said Hong Edwards, “I look forward to working closely with firm’s impressive stable of world-class investors and expect to drive continued growth of the firm in the U.S. and abroad, where there is strong interest in funds that focus on the financial services sector.”

“Irene’s skill set and successful track record raising capital for private equity and credit funds is an excellent match for our firm,” said Steven Pierson, President and Partner of Lovell Minnick Partners. “Irene has a demonstrated track record of cultivating long standing relationships, broadening the reach and extending the platforms of growing private equity firms.”

Ms. Hong Edwards received a Masters in Business Administration degree from Columbia University and a Bachelors degree in Business Administration from Georgetown University. She also attended The Chinese University of Hong Kong. She is an active member and sits on the board of the NY Private Equity Network.
Jan 17,
2017

Lovell Minnick Partners Announces Investment In Engage People Inc., A Solutions Provider For The Loyalty & Incentive Industry
01.17.17

Lovell Minnick Partners Announces Investment In Engage People Inc., A Solutions Provider For The Loyalty & Incentive Industry

TORONTO – January 17, 2017– Engage People, Inc. (“Engage”), a leading global solutions provider for the loyalty and incentive industry, today announced that it has received a significant investment from Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies. The investment will support plans for growth at Engage, which will continue to be majority owned and operated by the current management team. Terms of the private investment were not disclosed.

Engage products include Podium, a proprietary SaaS-based platform that manages end-to-end loyalty rewards, employee recognition, sales and sales channel incentive programs on a global basis. Engage is changing the industry with its highly differentiated solutions, including its patented Local Redemption Globally solution that enables participants in programs to redeem and earn loyalty rewards on most ecommerce sites anywhere in the world. These innovative solutions, coupled with traditional fulfillment services and data analytics, solve major challenges in the $250 billion loyalty and incentive industry.

The global loyalty market currently consists of over 10,000 loyalty programs with 7.6 billion program members. Engage offers a tangible, high value proposition to clients and their loyalty and incentive members, which has helped fuel the company’s rapid growth. Engage’s blue chip clients, which include financial institutions, hotels, airlines, telecommunications companies and others, typically utilize a mix of products and services to drive consumer, channel and employee engagement.

“We have more than doubled in size every year for the past five years both in terms of revenue and client base. As our rapid growth continues and we expand our offerings to clients worldwide, the support and capital investment from Lovell Minnick will help us scale to meet increased demand for our solutions across different industries,” said Jonathan Silver, Chief Executive Officer of Engage. “We look forward to a successful partnership that will enable us to broaden the range of solutions we offer as we continue our journey to becoming the market leader in the loyalty and incentive industry.”

“We are thrilled to support Engage at this key inflection point in its development. The company’s proprietary, technology-driven solutions, combined with its history of meeting the increasingly diverse client needs across industries and geographies, positions it well to address the changing demands of the loyalty and incentive marketplace,” said Spencer Hoffman, Partner at Lovell Minnick. “We look forward to using our experience working with dynamic, growth companies to assist the leadership team in its aggressive expansion efforts.”

”This is our first investment in Canada, a market in which we see a number of exciting investment opportunities. As an investor with national reach and relationships, and as we’ve done with many of our portfolio companies, we hope to identify and introduce both new clients and strategic acquisitions for Engage,” said Steven C. Pierson, President and Partner at Lovell Minnick. As part of the transaction, Hoffman and Pierson will join the Engage Board of Directors. Raymond James provided financial advisory services, and Miller Thompson acted as legal advisor to Engage People. Morgan, Lewis & Bockius, LLP acted as legal advisor to Lovell Minnick Partners.

About Engage People, Inc.
Engage is an innovative, market-leading solutions provider for the global loyalty and incentive industry. Engage products include its proprietary SaaS-based platform that manages end to end loyalty rewards, employee recognition, sales and sales channel incentive programs on a global basis. Headquartered in Toronto, the company has offices and employees in London, Rome, New York, Orlando and Sydney. For more information, please visit www.engagepeople.com.
Dec 07,
2016

J.S. Held Expands Into Commercial Equipment Consulting With Acquisition Of CEIPS LLC
12.07.16

J.S. Held Expands Into Commercial Equipment Consulting With Acquisition Of CEIPS LLC

Jericho, NY – December 6, 2016 – J.S. Held LLC, a leading, national construction consulting firm, today announced the acquisition of CEIPS LLC. Jerry Hammar, President of the firm, joins J.S. Held as Vice President. Financial terms of the private transaction were not disclosed.

CEIPS is a premier commercial equipment assessment consulting firm, specializing in providing accurate and realistic pricing on commercial equipment losses for the insurance industry. The company will operate as “CEIPS, a J.S. Held Company.” CEIPS executive Cathy Sarrocco also joins J.S. Held continuing her leadership role as Assistant Vice President.

“CEIPS has a stellar reputation for providing accurate and timely consulting on commercial equipment losses,” said Jon Held, President and Chief Executive Officer of J.S. Held. “Their dedication to providing superior client service to the insurance industry will allow us to offer a wider range of services to our clients, while further scaling our business.”

“We have been dedicated to providing advice on property losses to shared clients for many years, and the J.S. Held platform gives us the ability to build a national equipment consulting practice,” said Hammar. “We share a commitment to providing an unrivaled experience for our insurance clients and Cathy and I are looking forward to joining the J.S. Held team.”

This acquisition is the fifth acquisition J.S. Held has made since receiving a controlling investment in 2015 from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies. Previous acquisitions include the Property Loss Division of Chroma Building Corp., Wakelee Associates, LLC, a construction and mitigation consulting firm, Lovett Silverman, a surety consulting firm, and U.S. HELM, an environmental, health and safety services firm. J.S. Held has over 35 offices across the United States and Canada. J.S. Held continues to grow its team of professionals by expanding its network of offices throughout the United States and Canada.

About J.S. Held LLC
J.S. Held is a leading construction consulting firm specializing in property damage consulting, construction claims consulting, project and program management and environmental, health and safety services. J.S. Held’s consultants have provided their expertise on the most complex construction and related matters around the globe. The company serves its clients from over 35 offices throughout the U.S. and Canada. For more information regarding J.S. Held, please visit
www.jsheld.com.

About CEIPS
Commercial Equipment Insurance Pricing System, CEIPS provides expert assistance to accurately assess damage and determine pricing on commercial equipment for the insurance industry.
Dec 06,
2016

Worldwide Facilities Acquires Trinity Underwriting Managers, Inc.
12.06.16

Worldwide Facilities Acquires Trinity Underwriting Managers, Inc.

Expands Insurance Underwriting Platform and Presence in the Commercial Automobile Market 

LOS ANGELES, CA AND SAVANNAH, GA— December 5, 2016 – Worldwide Facilities, a national wholesale insurance brokerage and managing general agency, today announced the acquisition of Trinity Underwriting Managers, Inc. (TUMI), an underwriting manager and wholesale insurance broker specializing in commercial transportation. TUMI offers its products and services across the U.S. through retail agents and brokers. Stephen Standing, a principal of TUMI, joins Worldwide Facilities as Executive Vice President where he will continue to manage and lead his experienced team.

This transaction represents a significant expansion of Worldwide Facilities’ footprint in the transportation and underwriting management space, where Trinity has extensive demonstrated expertise. It broadens the markets and products available to the retail brokers and agents served by Worldwide Facilities as well as the underwriting opportunities for Worldwide Facilities’ markets.

“Trinity’s specialized business model and industry verticals match well with our growing specialty product practice groups. Stephen Standing has helped to build a great business, and we are very pleased to have him and his team join our organization,” said Davis Moore, Chief Executive Officer of Worldwide Facilities.

“On behalf of my team, we are excited to become part of the expanding brand Worldwide Facilities has created. With technical and market expertise in our specialty areas, we know we will be a great asset to the organization and are excited to capitalize on the opportunities,” said Standing.

In 2015, Worldwide Facilities received an investment from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services.

About Worldwide Facilites, LLC
Worldwide Facilities is a national wholesale insurance broker and managing general agent that has been in business since 1970. Its seasoned brokers and underwriters are industry leaders in providing expertise in a wide variety of specialty lines, and offer extensive contacts with carriers domestically and overseas.
Nov 22,
2016

Video: Fintech Influence On Banks Good For All Of Us
11.22.16

Video: Fintech Influence On Banks Good For All Of Us

In an interview with Finextra, Steve Pierson, President of Lovell Minnick Partners, gives an investor’s view of fintech, talking about why advice, insurtech and outsourcing are hotter investment prospects than blockchain right now, the likely evolution of digital lending beyond consumer and how banks are set to learn from – and acquire – fintechs going forward. Click to view the video here.
Read More
Oct 04,
2016

361 Capital To Acquire Award-Winning BRC Investment Management
10.04.16

361 Capital To Acquire Award-Winning BRC Investment Management

Adding proven investment experience and institutional clients

Denver, CO (October 4, 2016) – 361 Capital, a leading boutique asset manager offering alternative strategies to institutions, investment advisors and their clients, today announced the strategic acquisition of BRC Investment Management, LLC. BRC Investment Management is a global equity asset manager focused on delivering innovative, behavioral-based solutions to its clients.

BRC Investment Management is a pioneer in developing proprietary algorithms designed to monetize market inefficiencies in order to pursue consistent alpha for client portfolios. BRC Investment Management brings unique and complementary investing skills and time-tested strategies, including large, mid and small cap, as well as Japanese All-Cap Equity to 361’s product offering.

“We are thrilled to be adding BRC Investment Management’s highly experienced team to further our vision of being a world-class investment management firm specializing in distinctive solutions rooted in behavioral finance,” said Tom Florence, President and Chief Executive Officer of 361 Capital. “Incorporating BRC Investment Management into our platform broadens our capabilities and expands our distribution footprint across both institutional and intermediary channels.”

“361 Capital’s highly regarded industry reputation and similar focus greatly expands our opportunity to drive meaningful alpha for our institutional clients and for a wider range of new investor portfolios,” said John Riddle, Managing Principal and Chief Investment Officer of BRC Investment Management. “Both organizations have a strong research-oriented approach and look to capitalize on the many biases and heuristics that drive investor decisions.”

The transaction is expected to close by October 31, 2016, and upon completion of the acquisition the firms will combine under the 361 Capital name.

About 361 Capital
361 Capital is an award-winning* boutique asset manager focused on delivering an array of innovative alternative investment strategies to institutions, financial intermediaries and their clients. Founded in 2001, the Firm specializes in creating distinctive portfolio solutions using behavioral-driven, quantitative methods to help advisors and institutions better understand and manage portfolio risk. 361 Capital is majority employee-owned and has strategic partnerships with Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies, and Lighthouse Investment Partners, which invested in the business in 2014. For more information, call 866.361.1720 or visit www.361capital.com.

About BRC
Founded in 2005, BRC Investment Management (Bounded Rationality Concepts) is a global equity asset manager focused on delivering innovative, behavioral-based solutions to its clients. The Firm is a pioneer in developing proprietary algorithms designed to monetize behavioral biases and market factors in order to pursue consistent alpha for client portfolios. BRC was formed as a result of an amicable separation of the U.S. equity investment team from Duff & Phelps Investment Management Co. BRC utilizes the same U.S. equity investment philosophy, process and performance track record that dates back to 1996.

*Awards: WealthManagement.com 2016 Industry Awards, Winner & 2015 Industry Awards, Finalist: Alternative Asset Manager, http://awards.wealthmanagement.com. The WealthManagement.com Industry Awards recognizes the alternatives asset manager that has made an ‘outstanding contribution’ in adding a new initiative/program or enhancing an existing platform that improves advisors’ understanding, usage, & portfolio management of alternatives.

Investment Advisor-Prima Capital’s 8th annual Separately Managed Account Managers of the Year – BRC Investment Management named 2012 U.S. Large-Cap Equity SMA Manager of the Year. The SMA Managers of the Year awards recognize those products that have at least $200 million in assets and have tenured management of at least three years. Products and managers must rate highly according to Prima’s due diligence process, which uses a proprietary, systematic, multifactor manager evaluation methodology that combines both quantitative and qualitative criteria. There are 13 factors that the Prima analysts consider before recommending the finalists for SMA Managers of the Year, including performance, firm, people, process, style, customer service, tax efficiency and composite.
Oct 03,
2016

Lovell Minnick Partners Names Joseph Velli A Senior Advisor
10.03.16

Lovell Minnick Partners Names Joseph Velli A Senior Advisor

RADNOR, PA and LOS ANGELES – OCTOBER 3, 2016 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced that Joseph Velli will become a Senior Advisor to the firm. Velli is a veteran senior executive in the financial services and transaction processing industries. He spent most of his career at The Bank of New York (now BNY Mellon) as a Senior Executive Vice President and a member of the bank’s Senior Policy Committee, and most recently served as the Chairman and CEO of Convergex Group, a global provider of execution, software and technology services.

Velli’s career has been devoted to creating, managing and building businesses focused on servicing, processing, payment, record-keeping, consumer banking, institutional and retail brokerage, and software platforms. He will assist Lovell Minnick in the evaluation and due diligence of investment opportunities within asset management, custody and related services, as well as bank divestitures, transaction processing and technology enabled businesses.

“Joe brings a unique combination of leadership skills, operational talents and extensive experience with financial services and technology-enabled businesses,” said Steve Pierson, President and Partner of Lovell Minnick Partners. “I know from long experience that Joe’s strong relationships throughout the global financial services community will also be additive to our sourcing and portfolio company growth initiatives.”

Velli, 58, will join a group of three current Senior Advisors at the firm, including Michael Dura, a former executive at National Financial Services, a Fidelity Investments company; Heinz Hockmann, a former Commerz Bank AG executive; and Alan Warrick, a former Aegon executive.

“I am excited to join Lovell Minnick at a time when tremendous technological change in the financial services industry is creating strong demand for the deep sector expertise and business growth capabilities of the firm,” said Velli. “I look forward to working closely with the talented team to identify and seize new opportunities and build businesses.”

During his 22 year tenure with The Bank of New York, Velli, in addition to running some of the bank’s biggest businesses, also played a key role in over 50 acquisitions including the $2 billion acquisition of Pershing, and the spin-out of the bank’s institutional brokerage businesses. Velli oversaw numerous initiatives, including creating and building the world’s largest ADR business, creating the first ETF-like product known as a stapled ADR, and building the bank’s Issuer Services, Clearing and Global Liquidly Businesses. Velli began his finance career at Citibank.

Velli also has considerable public company board experience, currently serving on the Boards of Directors of Paychex and Computershare. Previously Velli served on E*TRADE Financial Corporation and American Management Systems Boards. Velli has also served on various private boards.
Sep 30,
2016

J.S. Held Acquires Environmental Consulting Business U.S. HELM
09.30.16

J.S. Held Acquires Environmental Consulting Business U.S. HELM

Addition of Environmental Services Group Will Expand Service Offering

JERICHO, N.Y. and NEW ORLEANS, L.A. – September 30, 2016 – J.S. Held LLC, a leading national, full service construction consulting firm, today announced the acquisition of U.S. Health and Environmental Liability Management, LLC (“U.S. HELM”). Tracey Dodd, founder and principal of U.S. HELM, joins J.S. Held as Executive Vice President and National Director of Health and Environmental Services. Financial terms of the private transaction were not disclosed.

U.S. HELM is a national leader in environmental risk assessment, corrective action, industrial hygiene, safety and environmental consulting. The company will operate as the “Health and Environmental Services” business practice group of J.S. Held, which will provide rapid response onsite services, environmental risk management, insurance and litigation support, property analysis, vulnerability assessments, and other services that minimize corporate liability concerns.

“The combination of our two strong, well-respected brands under one umbrella enables us to serve our clients with a broader range of service offerings,” said Jon Held, President and Chief Executive Officer of J.S. Held. “The proven capabilities of U.S. HELM’s extensive scope of environmental service offerings ensures we can meet the environmental and safety management needs of our clients to mitigate their risks while controlling losses.”

Dodd and Tom Sumner, a Principal at U.S. HELM, will assist with running the Health and Environmental Services business reporting to Adrian Frank, Executive Vice President of Corporate Operations at J.S. Held.

“J.S. Held and U.S. HELM share a commonality among clients and projects that is highly complementary, so we are very excited to join forces,” said Dodd. “We look forward to working closely with the team as we further expand our environmental, safety, and industrial hygiene consulting footprint throughout the U.S.”

High profile work performed by U.S. HELM includes assessing and managing complex spill response efforts and natural resource damage restoration efforts in the Gulf of Mexico, damage assessment and remediation design and oversight of the New Orleans Superdome and Convention Center following Hurricane Katrina, and the Mercy Regional Medical Center response efforts following the tornado in Joplin, Missouri.

This acquisition is the fourth acquisition J.S. Held has made since receiving a controlling investment in 2015 from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies. Previous acquisitions include Lovett Silverman Construction Consultants, Inc., the Property Loss Division of Chroma Building Corp., and Wakelee Associates, LLC. J.S. Held now has 33 offices across the U.S. and Canada.

About J.S. Held
Established in 1974, J.S. Held is a leading construction consulting firm specializing in property damage consulting, construction claims consulting, project and program management and dispute resolution services. J.S. Held’s consultants have provided their expertise on more than 100,000 commercial, industrial, high rise, special structures, governmental, residential, and
infrastructure construction matters globally. The company serves its clients from over 30 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.

About U.S. HELM
New Orleans-based U.S. HELM is one of the nation’s leading providers of environmental risk identification, evaluation and mitigation services for the industrial, manufacturing, exploration and production, and transportation sectors. Founded in 2003, U.S. HELM offers demanding clients a wide array of environmental and industrial hygiene services including risk assessment, litigation support, regulatory compliance, process safety management, emergency response, homeland security, indoor and outdoor air quality and vegetative and ecosystem restoration. U.S. HELM has an extensive business footprint across the United States.
Sep 14,
2016

Lincoln Investment Announces Acquisition Of The Legend Group From Cetera Financial Group
09.14.16

Lincoln Investment Announces Acquisition Of The Legend Group From Cetera Financial Group

Transaction Reinforces Lincoln Investment’s Commitment to Retirement Plan Advice Space, and Underscores Cetera’s Commitment to Driving a More Focused Advisor Experience Through Full-Service Retail Broker-Dealers

Los Angeles, CA and Fort Washington, PA – Lincoln Investment Capital Holdings, LLC and Cetera Financial Group today announced the signing of a definitive agreement for for the divestiture of Legend Group Holdings, LLC (“The Legend Group”) by First Allied Holdings, Inc., a Cetera affiliate, to Lincoln Investment Capital Holdings, LLC. Financial terms of the transaction, which is expected to close by early next year subject to regulatory approval, were not disclosed.

Lincoln Investment Capital Holdings, LLC is the parent company of Lincoln Investment Planning, LLC (“Lincoln Investment”), a leading full-service independent broker-dealer and registered investment adviser. The Legend Group includes an independent broker-dealer and registered investment adviser focused on supporting the delivery of professional guidance by financial advisors to 403(b) plans, the retirement savings plan that is typically available to employees of public education organizations and non-profits across the country.

Under the terms of the transaction, Lincoln Investment Capital Holdings, LLC will acquire the common interests and assets of The Legend Group Holdings, LLC. The independent financial advisors supported by The Legend Group will transition to Lincoln Investment and continue to leverage The Legend Group brand. The Legend Group’s headquarters office in Palm Beach Gardens, FL, will continue to operate as part of Lincoln Investment.

“We are excited to welcome The Legend Group’s financial advisors to Lincoln Investment as it pairs two well-resourced partners who share a longstanding commitment to the retirement plan market,” said Ed Forst, president and chief executive officer of Lincoln Investment. “This is a transaction that enhances our scale, and by extension, our ability to remain independent, while positioning Lincoln Investment to compete more effectively in the mass affluent to high net worth investor space.” Lincoln Investment received an investment in June 2015 from Lovell Minnick Partners, an independent private equity firm specializing in financial services and related business services companies in the middle market.

Mr. Forst continued, “The combined business will be over 1,100 financial advisors strong supporting over $30 billion in client assets and have a total of 100 years of industry experience, placing Lincoln Investment among the top 25 independent broker-dealers and RIAs in the U.S.”

Robert Moore, chief executive officer of Cetera, said, “We are very pleased with this divestiture, which underscores our renewed focus to build upon our successful track record of helping advisors and institutions deliver holistic wealth management solutions for their clients on a full-service basis. As publicly disclosed earlier this year, our exploration of a potential sale of The Legend Group was guided by our plan to exit businesses that were not core to our future growth plans, combined with our commitment to identify a transaction opportunity with a company that understands and supports The Legend Group’s unique strengths in the 403(b) plan space. We see this transaction as a very positive development for the advisors and institutions Cetera supports, as well as the advisors affiliated with The Legend Group.”

For this transaction, Lazard served as financial advisor to Cetera.

About Cetera Financial Group
Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit www.ceterafinancialgroup.com.

* “Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services.

About Lincoln Investment
Lincoln Investment Planning, LLC is a leading full-service independent broker/dealer and registered investment adviser providing investment, wealth and retirement planning services nationwide through a network of financial advisors. The company currently has more than 300 employees and over 800 financial advisors with 300 branches in 34 states. Lincoln Investment serves over 270,000 individual investors, with over $24 billion in assets including over $10.6 billion in fee-based assets and provides retirement plan services to employees of more than 2,500 employers nationwide. For more information, visit www.lincolninvestment.com.

About The Legend Group
The Legend Group Holdings, LLC includes Legend Equities Corporation, an independent broker-dealer, and Legend Advisory Corporation, a registered investment adviser. The Legend Group empowers the delivery of quality investment solutions and personalized service by financial advisors with a primary focus on the 403(b) plan space. The Legend Group provides investment solutions for retirement, education savings plans, insurance needs, income generation and professional portfolio management. For more information, visit www.legendgroup.com.
Jun 23,
2016

J.S. Held Expands Into Surety Services With Acquisition Of Lovett Silverman
06.23.16

J.S. Held Expands Into Surety Services With Acquisition Of Lovett Silverman

JERICHO and HAUPPAUGE, NY – June 23, 2016 – J.S. Held LLC, a leading, national, full service construction consulting firm, today announced the acquisition of Lovett Silverman Construction Consultants, Inc. John J. Lovett, President of the firm, joins J.S. Held as Senior Vice President and National Director of Surety Services. Financial terms of the private transaction were not disclosed.

Lovett Silverman is a premier construction surety claims consulting firm, specializing in construction claims analysis, Critical Path Method scheduling, expert witness and litigation support, property inspection, and risk analysis. The company will operate as “Lovett Silverman,a J.S. Held Company”. Lovett Silverman executives Anthony Lardaro and Richard Sexton will continue their leadership roles as Vice Presidents in the New York and Orlando Offices, respectively. Lovett Silverman’s Ramsey, NJ operations are not included in the transaction.

“We have sought to enter the surety services sector for some time and are excited to unite our strong teams under one umbrella,” said Jon Held, President and Chief Executive Officer of J.S. Held. “We will be able to offer a wider range of services to our clients, while further scaling our business.”

“We have provided different services to shared clients for many years, and the J.S. Held platform gives us the ability to build a national surety practice and enhance our project scheduling services,” said Lovett. “We share a dedication to high quality client service and look forward to working closely with Jon and his team.”

This acquisition is the third acquisition J.S. Held has made since receiving a controlling investment in 2015 from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies. Previous acquisitions include the Property Loss Division of Chroma Building Corp., and Wakelee Associates, LLC, a construction and mitigation consulting firm. J.S. Held now has 33 offices across the United States and Canada.

Corporate Fuel Advisors served as financial advisor, and SilvermanAcampora LLP acted as legal counsel to Lovett Silverman. Morgan Lewis & Bokius, LLP served as legal counsel to J.S. Held.

About J.S. Held LLC
Established in 1974, J.S. Held is a leading construction consulting firm specializing in property damage consulting, construction claims consulting, project and program management and dispute resolution services. J.S. Held’s consultants have provided their expertise on more than 100,000 commercial, industrial, high rise, special structures, governmental, residential, and infrastructure construction matters globally. The company serves its clients from over 30 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.

About Lovett Silverman
Lovett Silverman Construction Consultants provides quality services and a standard of care that are the best in the industry. The company’s national network of diverse professionals has earned the trust and respect of a number of America’s leading owners, corporations, sureties, law firms, financial institutions, insurance companies and government agencies. Over the years, Lovett Silverman has consulted on thousands of jobs with a combined value of tens of billions of dollars.
May 10,
2016

Lovell Minnick Partners Names Steven Pierson As President And Partner
05.10.16

Lovell Minnick Partners Names Steven Pierson As President And Partner

RADNOR, PA and LOS ANGELES – MAY 10, 2016 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced that Steven C. Pierson will join the firm as President and Partner. Mr. Pierson, who will start his duties at Lovell Minnick in June, comes to the firm from UBS, where he most recently served as the Head of FIG Investment Banking Americas and Global Head of Financial Technology & Services. He was also a member of the investment committee for the UBS FinTech Strategic Investment Group.

“On behalf of our partners, we are delighted to welcome Steve Pierson to Lovell Minnick, and to the already strong financial services investment team at our firm,” said Co-Chairmen Jeffrey D. Lovell and James E. Minnick in a joint statement. “We have been privileged to work closely with Steve over many years and have been continually impressed by his superior investment acumen and professional skills. He brings to Lovell Minnick an enviable record of success and a deep network that will elevate our existing capabilities in the sectors where we are focused on investing our fourth institutional fund, including financial technology.” Lovell Minnick Equity Partners IV closed last October, reaching its cap of $750 million in commitments.

Mr. Pierson, 49, is a 21-year investment banking veteran who has focused his entire career on financial institutions and the financial technology sector. Prior to joining UBS in 2013, Mr. Pierson served as Vice Chairman and Co-Head of FIG Investment Banking Americas at Credit Suisse. He began his investment banking career at Putnam Lovell Securities in 1995 where he rose to become head of its investment banking division.

“I am very excited to join the talented and experienced team at Lovell Minnick at a time when we see attractive investment opportunities for the new fund in financial services and related business services and technology,” said Mr. Pierson. “It is wonderful to be re-united with Jeff and Jim, and to join my new partners in extending the firm’s track record of success. I leave UBS with extremely fond memories and wish the FIG team continued success. I expect to continue to work with UBS in an advisory capacity and welcome UBS’s support of Lovell Minnick’s financial services investment efforts.”

In recent years, Mr. Pierson has played a key role handling numerous prominent large-cap and middle-market financial services transactions, including the $30 billion merger of the London Stock Exchange with Deutsche Borse; Barclay’s acquisition of Lehman Brothers; State Street’s $4.5 billion acquisition of Investor’s Bank & Trust; the $3 billion acquisition of Worldpay from RBS on behalf of Advent International and Bain Capital Private Equity; the $530 million sale of the Hull Group to Goldman Sachs; and, the sale of Brundage, Story & Rose to Bessemer Trust Co. He also worked on the initial public offerings of CETIP, Flow Traders, MARKIT, Moelis & Company and Virtu Financial.

Mr. Pierson earned his MBA at the Fuqua School of Duke University and holds a BS in Finance & Management from Virginia Tech University. Mr. Pierson will join Lovell Minnick’s Board of Managers and become a member of its investment committee.
May 05,
2016

Worldwide Facilities Acquires Sloan Mason
05.05.16

Worldwide Facilities Acquires Sloan Mason

Expands Presence in the Energy Market

LOS ANGELES AND SAN DIEGO, CA – May 5, 2016 – Worldwide Facilities, a national wholesale brokerage and managing general agency, today announced an agreement to acquire Sloan Mason Insurance Services, a wholesale insurance broker specializing in coverage placements for the energy and energy related businesses. Paul Mason and his team will join Worldwide Facilities.

This acquisition represents a significant expansion of Worldwide Facilities’ footprint in the energy space, where Sloan Mason has extensive contacts and specialized knowledge. It will also broaden the markets and products available to the retail brokers and agents served by Worldwide Facilities.

“Sloan Mason’s specialized business model and industry verticals match well with our growing specialty product practice groups. Paul built a great business, and we are very pleased to have him and his team join our organization” said Davis Moore, Chief Executive Officer of Worldwide Facilities.

Mason, who founded Sloan Mason in 2001 and has served as its President, brings extensive expertise in placing commercial insurance for retail insurance agents and brokers in the areas of energy and environmental. He will assume a leadership position as Executive Vice President with Worldwide Facilities in the new San Diego office.

“On behalf of my team, we are excited to become part of the expanding brand Worldwide Facilities has created. With technical and market expertise in our specialty areas, we know we will be a great asset to the organization and are excited to capitalize on the opportunities,” says Mason.

In 2015, Worldwide Facilities received an investment from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services.

About Worldwide Facilities, LLC

Worldwide Facilities is a national wholesale insurance broker and managing general agent that has been in business since 1970. Our seasoned brokers and underwriters are industry leaders in providing expertise in a wide range of specialty lines, and offer extensive contacts with carriers domestically and overseas.
Mar 28,
2016

Mercer Advisors And Kanaly Trust Merge To Create One Of The Largest Independent Wealth Managers In The US
03.28.16

Mercer Advisors And Kanaly Trust Merge To Create One Of The Largest Independent Wealth Managers In The US

SANTA BARBARA, Calif. and HOUSTON, March 28, 2016 — Mercer Advisors and Kanaly Trust, two leading wealth management firms, today announced that they have reached a definitive agreement to merge. Upon the merger completion, the combined company will manage assets exceeding $8 billion making it one of the largest independent wealth managers in the United States. Terms of the private transaction were not disclosed.

The combined company will be led by David H. Barton, Chief Executive Officer of Mercer Advisors. Mercer Advisors was acquired by Genstar Capital, a private equity firm, last year. Kanaly Trust is owned by Lovell Minnick Partners, a private equity firm that invests in the financial and related business services sectors, which will retain a stake in the combined company.

Mercer Advisors is a total wealth management firm that provides fee-only comprehensive investment management, financial planning, family office services, retirement benefits and distribution planning, estate planning, and tax management services. Based in Santa Barbara, Mercer has over $6 billion in assets under management and more than 5,000 clients. Kanaly Trust provides comprehensive wealth management and financial planning and trust/estate services to families, individuals, and estates. The Houston-based company manages and advises on assets totaling over $2 billion on behalf of more than 500 families, and serves as the trustee or executor for estates totaling more than $2.5 billion.

“This transaction brings together two great companies and creates a strong partnership of people who have the benefit of a stronger platform from which to offer expanded services with the personal and customized service clients demand,” said Barton. “Genstar has been instrumental in helping us rapidly grow our company, and we are well-positioned to build on our momentum. Paramount in Kanaly Trust’s decision to join Mercer Advisors was our shared commitment to the highest level of service, which makes this combination such a great fit.”

“The merger with Kanaly Trust is a significant step forward towards scaling a national wealth management firm to a broader base of sophisticated clients,” said Anthony J. Salewski, a Managing Director at Genstar. “This transaction combines the complementary resources of two important players, and we are excited about this transformative partnership. We are pleased with Mercer Advisors’ progress, led by Dave, and we plan to continue to invest in and support the company as it continues to build its presence in the wealth management sector.”

“This merger brings together two world-class wealth management firms, which will allow us to expand client resources beyond the high-levels we have today,” noted Drew Kanaly, Chairman of Kanaly Trust. “Our extensive experience working with high-net-worth entrepreneurs and executives, and family offices is highly complementary to Mercer Advisors, and this partnership will allow us to provide those services on a national level.”

“The talented Kanaly Trust team remains focused on providing high touch, highly personalized financial advice and customized solutions, which we believe will continue to be in high demand among clients,” said James E. Minnick, Co-Chairman of Lovell Minnick Partners. “We look forward to our continued involvement and support in working with Mercer and Kanaly in growing the combined company.”

Moelis & Company LLC served as financial advisor, and Davis Graham & Stubbs LLP acted as legal counsel, to Kanaly Trust. Willkie Farr & Gallagher LLP served as legal counsel to Mercer Advisors.

The merger is subject to customary regulatory approval.

About Mercer Advisors

Established in 1985, Mercer Advisors Inc. is a total wealth management firm that provides fee-only comprehensive investment management, financial planning, family office services, retirement benefits and distribution planning, estate planning, and tax management services to affluent individuals. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $6 billion in assets under management and more than 5,000 clients. Headquartered in Santa Barbara, California, Mercer Advisors is privately held, has over 175 employees and operates nationally with 19 branch offices across the country. For more information about Mercer Advisors, visit www.merceradvisors.com.

About Kanaly Trust, LTA

Kanaly Trust is a comprehensive wealth management firm managing and advising over $2 billion of assets. Based in Houston, the firm was founded in 1975 by Deane Kanaly. Since its founding, Kanaly has been committed to serving clients as their trusted advisor providing a full array of investment, financial & estate planning, and trustee services. For more information, visit www.kanaly.com.

About Genstar Capital LLC

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the financial services, software, industrial technology, and healthcare industries.
Jan 04,
2016

J.S. Held Acquires Wakelee Associates
01.04.16

J.S. Held Acquires Wakelee Associates

JERICHO, NY and HACKENSACK, NJ – January 4, 2016 – J.S. Held LLC, a leading national construction consulting firm providing specialized services to the insurance industry, today announced the acquisition of Wakelee Associates, LLC. Timothy Woods, Wakelee’s President, joins J.S. Held as Executive Vice President. Financial terms of the private transaction were not disclosed.

Based in Hackensack, NJ, Wakelee Associates is an 18-person construction and mitigation consulting firm providing cost and time analysis of residential, commercial and industrial property damage, and owner’s representative services to its clients.

“We are excited to welcome Tim and the entire Wakelee staff of energetic and knowledgeable professionals to our team,” said Jon Held, President and Chief Executive Officer of J.S. Held. “Joining forces with Wakelee allows us to deepen our bench in the Northeast in serving the needs of clients.”

“The expert services of J.S. Held and their successful project management discipline clearly align with our approach, and that creates a great home for our clients and our people,” said Woods. “We’re confident that joining J.S. Held will contribute significantly to our ability to provide an even more comprehensive range of services to clients. We look forward to working closely with Jon and his team.”

Earlier in 2015, J.S. Held received a controlling investment from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies. In July 2015, J.S. Held announced the acquisition of the Property Loss Division of Chroma Building Corp. and the addition of industry veteran Doug DePhillips to the management team.

EMA Partners, LLC served as financial advisor, and Cole Schotz, P.C. acted as legal counsel to Wakelee Associates. Morgan Lewis & Bokius, LLP served as legal counsel to J.S. Held.

About J.S. Held LLC
Established in 1974, J.S. Held is a leading construction consulting firm specializing in property loss analysis, estimating, scheduling, construction claims advisory services, project management, and dispute resolution services. J.S. Held’s consultants have provided their expertise on more than 100,000 commercial, industrial, high rise, special structures, governmental, residential, and infrastructure construction matters globally. The Company serves its clients from over 25 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.

About Wakelee Associates, LLC
Wakelee Associates (www.wakeleellc.com) is dedicated to assisting insurance professionals and attorneys throughout the U.S. with resolving claims quickly, accurately and equitably. Wakelee has extensive experience in construction estimating, project management, dispute resolution, and job site monitoring. The company provides accurate and reliable cost and time analysis of commercial, industrial and residential property damage due to fire, water, earthquake, floods, hurricanes and other disasters.
Dec 16,
2015

TriState Capital To Expand Investment Management Business With Acquisition Of The Killen Group
12.16.15

TriState Capital To Expand Investment Management Business With Acquisition Of The Killen Group

Strategic acquisition increases Chartwell Investment Management’s revenues to more than $44 million and AUM to more than $10 billion

PITTSBURGH – Dec. 16, 2015 – TriState Capital Holdings, Inc. (NASDAQ: TSC) entered into a definitive asset-purchase agreement to acquire The Killen Group, Inc. (TKG), an investment management firm and the advisor to The Berwyn Funds.

“This transaction creates an investment management firm with annual revenues approaching $50 million and more than $10 billion in assets under management, as part of our well-defined strategy for growing our Chartwell Investment Partners business into a world-class asset manager,” TriState Capital Chief Executive Officer James F. Getz said. “We have an exceptional opportunity to combine Killen’s highly credible investment performance, particularly by the Morningstar five-star rated Berwyn Income Fund, with our proven national financial services distribution model to meaningfully accelerate growth in client assets, while enhancing Chartwell’s retail and institutional offerings through The Berwyn Funds.”

Together, TKG and TriState Capital’s Chartwell Investment Partners subsidiary would have pro forma investment management fees of $44.3 million, representing 38% of total company revenue, for the 12 months ending Sept. 30, 2015, as well as a weighted average fee rate of 0.41% during the period. TKG and Chartwell’s pro forma assets under management would total $10.1 billion at Sept. 30, 2015.

The value of the all-cash transaction is estimated to be in the range of $30 million to $35 million. This includes an initial purchase price of $15 million, or 5.0 times a base EBITDA (earnings before interest, taxes, depreciation and amortization) of $3.0 million, and an estimated $15 million to $20 million for contingent consideration that may be earned based on 7.0 times the incremental growth in TKG’s annual run rate EBITDA in excess of $3.0 million at Dec. 31, 2016.

Established in 1982, TKG provides active portfolio management and investment advisory services to a variety of institutional and separately managed account clients nationwide. TKG’s investment management fees were $14.3 million on an annual-run-rate basis at an average weighted rate of 0.56%, as of Sept. 30, 2015, and its AUM totaled $2.5 billion at the end of the period. TKG is investment advisor to The Berwyn Funds, including the Berwyn Income Fund, a Morningstar five-star rated conservative allocation strategy with a net asset value of $1.9 billion at Sept. 30, 2015. With its long-term record of strong performance, this fund was included in Morningstar’s 2015 “Fantastic 50” and 2014 “Fantastic 48” lists, which recognized an exclusive group of high-performing mutual funds that meet the independent investment research firm’s strict criteria.

“We’ve long admired what Bob Killen and his team have built, delivering specialized investment expertise to a select clientele and, through The Berwyn Funds, mutual fund shareholders,” said Chartwell Managing Partner and Chief Executive Officer Timothy J. Riddle, who will continue to lead TriState Capital’s investment management subsidiary after transaction closing. “We’re excited to welcome the Killen team, its high-performing products and distinguished brand to Chartwell, as we continue the growth of our boutique money management business and provide additional products and capabilities for the benefit of both our firms’ clients.”

In conjunction with the transaction, TKG’s investment professionals have signed multi-year restrictive agreements with Chartwell, including its Chairman and Chief Executive Officer Robert E. Killen. All TKG employees are expected to join Chartwell at closing.

“In Chartwell, we found an ideal partner for our clients and our people,” said Killen. “It’s a firm that shares our philosophy for disciplined value investing and active portfolio management, while providing the exceptional distribution, technology and operational resources we sought to support the continued growth of our business. We’re looking forward to joining Tim’s team and collaborating with all our new TriState Capital colleagues to create and share in even greater success, together.”

Upon closing of the acquisition, TriState Capital plans to integrate TKG’s personnel and operations into Chartwell, while maintaining The Berwyn Funds brand. With both TKG and Chartwell headquartered in Berwyn, Pa., the firms are expected to consolidate their offices in the Main Line suburb of Philadelphia before the end of 2016.

The board of directors of TriState Capital, TKG’s owners and board, and the board of trustees of The Berwyn Funds have voted in favor of the transaction. Closing is anticipated in the second quarter of 2016, subject to regulatory requirements, approval by shareholders of The Berwyn Funds, certain TKG-client consents, and other customary closing conditions and adjustments.

Keevican Weiss Bauerle & Hirsch LLC served as TriState Capital’s legal advisor on the transaction. Stephens Inc. provided a fairness opinion to TriState Capital. Fox Rothschild LLP served as TKG’s legal advisor on the transaction.

Following today’s announcement by the Federal Reserve Board’s Open Market Committee that it determined to begin increasing the federal funds target rate, TriState Capital reiterates that it remains very well positioned to profit from a rising interest-rate environment. TriState Capital continues to manage a highly asset-sensitive balance sheet, as 84% of its loan portfolio and 58% of its securities portfolio were floating rate, at Sept. 30, 2015. In addition, 36% of deposits were fixed-rate time deposits.

About TriState Capital
TriState Capital Holdings, Inc. (NASDAQ: TSC) is a bank holding company headquartered in Pittsburgh, Pa., providing commercial banking, private banking and investment management services to middle-market companies, institutional clients and high-net-worth individuals. Its TriState Capital Bank subsidiary has $3.1 billion in assets, as of September 30, 2015, and serves middle-market commercial customers through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, N.J., and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. Its Chartwell Investment Partners subsidiary has $7.6 billion in assets under management, as of September 30, 2015, and serves institutional clients and TriState Capital’s financial intermediary network. For more information, please visit http://investors.tristatecapitalbank.com.

About the Killen Group
The Killen Group, Inc. is a premier provider of investment advisory services to individuals, corporations and non-profit organizations. A major component of The Killen Group’s work is the management of The Berwyn Funds family of no-load mutual funds and its individually managed accounts. Since its inception, The Killen Group has maintained a sensible, value-oriented investment philosophy. Constructing a diversified portfolio of undervalued, well-managed companies with long-term stock appreciation potential is the essence of the firm’s work. As the company has evolved, it has also developed expertise in the management of fixed income securities and enjoys a sound long-term record in this area. For more information, please visit http://thekillengroup.com/.

FORWARD LOOKING STATEMENTS
This press release includes “forward-looking” statements related to TriState Capital that can generally be identified as describing TriState Capital’s future plans, objectives or goals. Such forward-looking statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For further information about the factors that could affect TriState Capital’s future results, please see the company’s most-recent annual and quarterly reports filed on Form 10-K and Form 10-Q.

IMPORTANT INFORMATION FOR BERWYN MUTUAL FUND SHAREHOLDERS
This press release is not a solicitation of a proxy from any shareholder of The Berwyn Funds. A prospectus/proxy statement with respect to the proposed transaction will be mailed to shareholders of The Berwyn Funds and filed with the Securities and Exchange Commission. Investors and shareholders of The Berwyn Funds are urged to read the prospectus/proxy statement regarding the proposed transaction and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, as they will contain important information. The prospectus/proxy statement will be available free of charge from the SEC’s website at www.sec.gov or by calling The Berwyn Funds at 1-800-992-6757.

In soliciting shareholder approval of the transactions, The Berwyn Funds, as well as their trustees, officers and advisors, may be deemed to be participants in the solicitation. Information about the funds’ trustees may be found in their annual reports and statement of additional information most recently filed with the SEC and available free of charge from the SEC’s website at www.sec.gov, or by calling The Berwyn Funds at 1-800-992-6757.
Nov 04,
2015

Lovell Minnick Partners Closes Fourth Fund With $750 Million Of Commitments
11.04.15

Lovell Minnick Partners Closes Fourth Fund With $750 Million Of Commitments

RADNOR, PA and LOS ANGELES – November 4, 2015 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced the successful completion of fundraising for its fourth institutional buyout fund, reaching the cap of $750 million and surpassing the $550 million target.

Lovell Minnick Equity Partners IV was raised from leading institutional investors including endowments, foundations, insurance companies, pension funds, as well as family offices and other institutional investors. The new fund received commitments from many limited partners who invested in previous funds sponsored by the firm, including Goldman Sachs Asset Management, RCP Advisors, Twin Bridge Capital Partners, and PPM America on behalf of certain clients. Lovell Minnick also attracted commitments from a number of new investors including MassPRIM and the W.K. Kellogg Foundation. The firm’s prior fund, Lovell Minnick Equity Partners III, secured $455 million of commitments.

Lovell Minnick will seek to continue its successful strategy of investing in middle-market financial services companies, typically making equity commitments of between $20 million and $100 million to private companies pursuing growth investments, management buyouts, succession and ownership transitions, and recapitalizations. Targeted investment areas include asset management, financial product distribution, insurance and securities brokerage, banks, specialty finance, and related technology and business services. The firm’s investments in these areas have included companies such as, ALPS Holdings, AssetMark Investment Services, Commercial Credit, Duff & Phelps, First Allied Securities, Matthews International Capital Management, and Mercer Advisors.

“Lovell Minnick is very grateful for the support we continue to receive from our limited partners, and we appreciate the new relationships we have developed with an outstanding group of investors who embrace our focus on middle-market financial services,” said Jeffrey D. Lovell, Chairman of Lovell Minnick Partners. “We see attractive opportunities across such themes as investment solutions, underserved credit markets, outsourcing, and consolidation. We look forward to building another portfolio of growing, dynamic companies where we can support management in realizing their strategic objectives.”

Lovell Minnick Equity Partners IV has deployed capital in three investments to date:

J.S. Held, a consultant to insurance carriers on property loss, dispute resolution, and construction services;
LSQ Funding, a technology-enabled provider of working capital solutions to small and mid-sized businesses; and,
Worldwide Facilities, one of the largest wholesale insurance brokerage companies in the U.S.
The firm’s investment team is led by five partners, with an average of more than 20 years of industry-related experience. Lovell Minnick has offices in Philadelphia and Los Angeles.
Oct 14,
2015

Lovell Minnick Announces Sale Of HD Vest To Blucora
10.14.15

Lovell Minnick Announces Sale Of HD Vest To Blucora

RADNOR, PA – October 14, 2015 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced the signing of a definitive agreement in which HD Vest Financial Services, Inc. (“HD Vest”) will be acquired by Blucora, Inc. (NASDAQ: BCOR). HD Vest is the leading independent broker-dealer providing wealth management and advisory solutions specifically for tax professionals. The transaction is valued at approximately $580 million.

Based in Irving, Texas, HD Vest’s independent network is comprised of over 4,500 tax and non-tax financial professionals who manage over $36 billion in client assets and provide comprehensive investment planning solutions for individuals, families and institutions. Lovell Minnick co-sponsored the management buyout of HD Vest from Wells Fargo & Company (NYSE: WFC) in 2011.

“This transaction highlights how HD Vest has firmly established itself as an industry leader in the independent broker dealer market. We are pleased that the company and its management team have been recognized for the significant value they’ve created,” said Spencer Hoffman, a Managing Director at Lovell Minnick Partners. “Our partnership with the HD Vest team has been very rewarding and exciting. This transaction is a logical next step for HD Vest that will position the company for continued growth.”

“In the four years since we completed our management buyout, with the support of our partners and Board, we’ve been successful both in investing in the company while also driving significant growth,” said Roger Ochs, President and CEO of HD Vest. “Through expanded product offerings to meet our advisors’ client needs, through an energized approach to identifying, recruiting, and educating HD Vest advisors, and through the development of proprietary technology designed specifically for our advisors, we’ve taken HD Vest to the next level. Lovell Minnick’s and Parthenon’s support was critical in achieving those goals.”

The transaction is expected to close late in the fourth quarter 2015 or early first quarter 2016, subject to customary closing conditions and regulatory approvals.

About HD Vest Financial Services®
Since its inception in 1983, HD Vest Financial Services has supported an independent network of tax and non-tax professionals who provide comprehensive financial planning solutions including securities, insurance, money management services, and banking solutions. HD Vest is ranked as one of the top 20 independent broker-dealer firms1with over 4,500 independent contractors managing over $36 billion in assets for individuals, families and small businesses in all 50 states.2 For more information, please visit www.hdvest.com. HD Vest Financial Services® is the holding company for the group of companies providing financial services under the HD Vest name. Securities offered through HD Vest Investment ServicesSM, Member SIPC, Advisory services offered through HD Vest Advisory ServicesSM.

About Blucora®
Blucora, Inc. (NASDAQ: BCOR) operates a diverse group of Internet businesses. Its mission is to deliver long-term value to its customers, partners, and shareholders through financial discipline, operational expertise, and technology innovation. Named one of Fortune® Magazine’s 100 Fastest-Growing Companies for the past two years, Blucora’s online businesses reach millions of users worldwide every day. Blucora is headquartered in Bellevue, Washington. For more information, please visit www.Blucora.com. Follow and subscribe to Blucora on Twitter, LinkedIn, and YouTube.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is a private equity firm with expertise in investing in the financial and related business services sectors. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised over $1.4 billion in committed capital and has completed investments in over 30 companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services.

1 Investment Advisor 2014 Broker-Dealer Reference Guide, which measured/ranked the top 25 independent broker-dealers by annual revenue.

2 As of August 31, 2015
Sep 30,
2015

Lovell Minnick Partners Sells Partial Stake In Matthews Asia To Mizuho Financial Group
09.30.15

Lovell Minnick Partners Sells Partial Stake In Matthews Asia To Mizuho Financial Group

Radnor, PA – September 30, 2015 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced the signing of a definitive agreement to sell a portion of its stake in Matthews International Capital Management, LLC (“Matthews Asia”) to Mizuho Financial Group (“Mizuho”). Lovell Minnick Partners will remain a minority equity holder in the independent investment manager, which is the leading Asia investment specialist in the United States. Terms of the private transaction were not disclosed.

Lovell Minnick Partners acquired a minority equity interest in Matthews Asia in early 2011. The firm provides investors with a broad range of choices for building a global portfolio that includes exposure to one of the world’s fastest-growing regions. Since Lovell Minnick’s investment in early 2011, Matthews Asia has launched several new investment strategies, doubled its employee headcount, and increased its assets under management from $19.1 billion to $26.2 billion as of August 31, 2015.

“We are pleased to remain a significant shareholder in Matthews Asia, and to continue to support the company’s growth,” said Jeffrey D. Lovell, Chairman and Chief Executive Officer of Lovell Minnick Partners. “Mizuho is a world renowned institution and we are confident their role as a new shareholder will be instrumental to Matthews Asia’s continued progress.”

“Regarded as a preeminent global financial institution, Mizuho’s investment in our firm is an endorsement of the success Matthews Asia has achieved for our clients over the past 24 years,” said William Hackett, Chief Executive Officer of Matthews Asia. “Mizuho’s investment will help ensure continued long-term stability of ownership while retaining our independence. We appreciate Lovell Minnick’s support in facilitating Mizuho’s investment.”

The transaction is expected to close by the end of the first quarter 2016 and is subject to customary closing conditions, including receipt of any required regulatory approvals.

RBC Capital Markets and Kirkland & Ellis LLP are serving as advisors to Lovell Minnick Partners on the transaction.

About Matthews Asia

Matthews Asia is an independent, privately owned firm and the largest dedicated Asia investment specialist in the United States. With $26.2 billion in assets under management as of August 31, 2015, the firm focuses on investing solely in Asia. It is the investment advisor for the Matthews Asia Funds, a group of 16 open-ended equity and fixed income mutual funds organized in the U.S. and 11 SICAVS registered in Luxembourg.

About Mizuho Financial Group

Mizuho Financial Group is one of the leading financial institutions in Japan, offering a broad range of services including banking, trust banking and securities, and other business related to financial services through its group companies. The group has approximately 55,000 staff working in approximately 900 offices inside and outside Japan, and total assets of over US$1.6 trillion (as of March 30, 2015).
Jul 06,
2015

Lovell Minnick Partners Closes Significant Investment In Worldwide Facilities, LLC
07.06.15

Lovell Minnick Partners Closes Significant Investment In Worldwide Facilities, LLC

Los Angeles, CA and Radnor, PA – July 6, 2015 – Lovell Minnick Partners has made a significant investment in Worldwide Facilities, LLC, a national wholesale insurance broker and managing general agent. Following the transaction, Worldwide Facilities will continue to be majority-owned by its employees. Terms of the transaction were not disclosed.

Founded in 1970 and based in Los Angeles, Worldwide Facilities is one of the largest wholesale insurance brokerage companies in the U.S. As a national wholesale broker, Worldwide Facilities places excess and surplus lines insurance on behalf of retail agents and brokers, and their insureds. The company also has been successful in growing its proprietary program and managing general agency businesses. Worldwide Facilities has more than 190 employees across 11 offices in major metropolitan areas including Atlanta, Chicago, Hartford, Houston, Irvine, Los Angeles, New York, Orlando, Phoenix, San Francisco and Seattle.

“We are enthused about our next chapter of growth and the capital base that we have put in place to support it. We look forward to continuing to invest in the development and growth of our company by creating new products, adding to our team of capable and seasoned producers, and making strategic acquisitions,” said Davis Moore, Chairman and Chief Executive Officer of Worldwide Facilities. “Lovell Minnick Partners has a strong track record in helping financial services companies such as ours advance their businesses. They share our vision for the future of Worldwide Facilities, and they have the resources and expertise to support our plan. We are excited to partner with them.”

“Worldwide Facilities is clearly a market leader, and has achieved impressive, consistent organic growth while developing deep expertise in specialized insurance solutions. Their strong relationships with retail agents and brokers and insurance carriers, and their dedication to client service, have put them in a position to further grow and thrive” stated Robert Belke, a Managing Director at Lovell Minnick Partners, which has made investments in a variety of brokerage businesses. “We look forward to working with this management team, led by Davis Moore and Ron Austin, to support and drive execution of their growth strategy.”

Waller Helms Advisors, LLC served as financial advisor, and Musick, Peeler & Garrett LLP acted as legal counsel to Worldwide Facilities. Keefe, Bruyette & Woods, Inc served as financial advisor, and Kirkland & Ellis LLP served as legal counsel to Lovell Minnick Partners.

About Worldwide Facilities
Worldwide Facilities, LLC is a national wholesale insurance broker and managing general agent. In business since 1970, the seasoned team of brokers and underwriters are industry leaders in providing specialized products in a wide range of specialty lines, as well as having extensive relationships with domestic and international carriers. For more information, please visit www.wwfi.com.
Jun 18,
2015

Lovell Minnick Partners Announces Growth Investment In Lincoln Investment Planning, Inc.
06.18.15

Lovell Minnick Partners Announces Growth Investment In Lincoln Investment Planning, Inc.

Radnor, PA – June 18, 2015 – Lovell Minnick Partners, an independent private equity firm specializing in financial and related business services companies in the middle market, today announced it has agreed to make a 20% minority investment in Lincoln Investment Planning, Inc., a leading full-service independent broker-dealer providing investment, wealth and retirement planning services nationwide. Terms of the investment were not disclosed.

The investment will provide capital to support continued growth of Lincoln Investment, which will remain majority family-owned and operated by the current management team. Founded in 1968, Lincoln Investment is one of the nation’s fastest growing independent broker-dealers and is committed to helping clients achieve financial well-being. The company has over $24 billion in client assets including over $9 billion in assets managed by Lincoln Investment and/or its affiliate, Capital Analysts, Inc., registered investment advisors. With this investment, Lovell Minnick continues its long history of investing in successful broker-dealer related businesses.

“Lincoln Investment has an attractive market position as a leading independent broker-dealer, and they have demonstrated meaningful and consistent growth in their advisor network, bolstered by the successful acquisitions of Great American Advisors, Inc. and Capital Analysts, Incorporated” stated Jim Minnick, President and Managing Director of Lovell Minnick Partners. “The company’s management team, led by Ed Forst, is both strong and deep. We look forward to working with this leadership team to continue to build the business.”

“We have consistently expanded our market position through organic and strategic growth, and we believe there are opportunities for continued growth from the company’s core customer base and through further plan diversification,” said Ed Forst, President and Chief Executive Officer. “Over time, we have developed an excellent relationship with Lovell Minnick Partners, and we respect their knowledge of our industry and their strong track record of success in the investment business. We look forward to a successful partnership that will help us expand our network of financial advisors and our breadth of client services.”

“Lincoln Investment’s expertise in designing and delivering a wide breadth of investment strategies and services is closely aligned with Lovell Minnick’s theme of investing in sophisticated providers of investment solutions. This made it an attractive partnership that we are confident will continue to contribute to Lincoln Investment’s future successes,” added Minnick.

The transaction is expected to close in the third quarter of 2015, subject to customary regulatory reviews and approvals.

Moss Adams Capital served as financial advisors to Lincoln Investment on this transaction; Berkshire Capital served as financial advisors for Lovell Minnick Partners.

About Lincoln Investment

Lincoln Investment is a leading full-service independent broker-dealer providing investment, wealth and retirement planning services nationwide through a national network of financial advisors. Clients include corporations, school districts, universities, hospitals, other non-profits and high net worth individuals. Founded by Nick Forst almost 50 years ago and headquartered in Philadelphia, Lincoln Investment currently has more than 250 employees and over 800 financial advisors with 300 branches in 35 states. Lincoln Investment serves over 235,000 individual investors, with $24 billion in assets under administration and over $9 billion in assets under management and provides retirement plan services to employees of more than 3,000 employers nationwide. For further information, please visit www.lincolninvestment.com.

About Lovell Minnick

Lovell Minnick Partners LLC is a private equity firm with expertise in investing in the financial and related business services sectors. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised over $1.3 billion in committed capital and has completed investments in over 30 companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services. For more information, please visit www.lovellminnick.com.
Apr 15,
2015

Lovell Minnick Leads $100M Investment In LSQ Funding
04.15.15

Lovell Minnick Leads $100M Investment In LSQ Funding

ORLANDO, FL (April 15, 2015) — LSQ Funding Group, a leading technology-enabled provider of working capital solutions for small- and mid-sized businesses, today announced that it has received a capital investment of over $100 million in a transaction led by Lovell Minnick Partners LLC, a private equity firm that specializes in the global financial services industry.

The investment will support LSQ Funding’s growth strategies, which are differentiated by a decade of technology innovation, credit IP, and bank partnerships. These differentiators have accelerated LSQ’s growth, which exceeded 85 percent in 2014. Over its twenty years of operating history, LSQ has provided more than $10 billion in invoice advances.

“We’re excited to add an equity partner with proven success supporting high-growth companies like ours,” said LSQ Funding’s CEO and founder Max Eliscu. “We will use this incremental capital to accelerate our investment in automation, revolutionizing the process by which businesses unlock the liquidity tied up in their unpaid invoices. We have always been committed to helping businesses of all sizes, from start-ups sending their first invoices to established companies managing complex supply chains, easily access working capital. We’re now bringing that capability to micro-businesses through automation.”

“The millions of small businesses in the U.S. that experience cash shortages as a result of success — and sometimes obstacles — deserve to have a company like LSQ Funding in their corner to help them meet such challenges,” added Lovell Minnick Managing Director John Cochran. “LSQ’s management team has built an industry-leading brand and an exemplary bank referral partnership model and is now aggressively pursuing automation that will serve even more small businesses. We are excited to bring our experience in specialty finance and in under-served credit markets to the partnership with this innovative team.”

J.P. Morgan Securities LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Lovell Minnick. The Cosine Group, a division of Armory Securities, LLC, served as financial advisor and Wilson Sonsini Goodrich & Rosati LLP served as legal advisor to LSQ Funding.

About LSQ Funding Group

LSQ Funding is one of the country’s largest independent accounts receivable financing companies. Founded in 1996 in the Orlando area, LSQ provides specialized accounts receivable financing to growing companies throughout the U.S., offering competitive rates, customized financing arrangements, and personalized service to help them improve profitability and financial security. The company’s proprietary accounts receivable technology enables accounts receivable financing at all levels, ranging from multi-million-dollar corporations to small businesses. For more information, please visit www.lsq.com.
Mar 30,
2015

Lovell Minnick Announces Acquisition Of J.S. Held
03.30.15

Lovell Minnick Announces Acquisition Of J.S. Held

ROSLYN HEIGHTS, N.Y., March 30, 2015 – Lovell Minnick Partners LLC is pleased to announce the acquisition of a majority interest in J.S. Held LLC, a specialty advisory firm providing outsourced consulting services to its insurance industry clients. In conjunction with the investment, Held Enloe & Associates, LLC will combine with J.S. Held, further strengthening J.S. Held’s property loss consulting, litigation and dispute resolution services, and construction and development advisory services.

J.S. Held and Held Enloe professionals have served as consultants, expert witnesses, and arbitration panelists on many of the largest and most complex property insurance claims, construction projects and disputes. The senior management team of both firms will continue to hold a significant minority interest in the combined company.

J.S. Held’s President and Chief Executive Officer Jonathon Held said, “With the Lovell Minnick investment, J.S. Held has a partner who shares our vision for growth. Through its depth of knowledge and focus on financial service firms, Lovell Minnick has an extraordinary track record of investing in growth-oriented companies in our sector.” Held Enloe’s Managing Member Lisa Enloe added, “The combined service offering of J.S. Held and Held Enloe will provide clients with a world-class resource to help navigate through the increasingly complex claims and litigation environment.”

Lovell Minnick Managing Director Bob Belke noted, “We believe that an increasing propensity among insurers to seek third-party expertise when managing complex claims, coupled with the depth and talents of the J.S. Held and Held Enloe professionals, will result in significant growth opportunities for the company. Jon, Lisa, and their colleagues have built a formidable company that has superbly executed upon its growth plan, and we are proud to partner with them.”

Deloitte Corporate Finance LLC acted as financial advisor to J.S. Held and Held Enloe, and William Blair & Company, L.L.C. acted as financial advisor to Lovell Minnick. Zukerman Gore Brandeis & Crossman LLP acted as legal counsel to J.S. Held and Held Enloe, and Morgan, Lewis & Bockius LLP acted as legal counsel to Lovell Minnick.

About J.S. Held

Founded in 1974, J.S. Held has extensive experience in all facets of property loss consulting, including estimating, scheduling and project monitoring. J.S. Held’s consultants have evaluated damage to more than 50,000 buildings and structures throughout the world and have experience working on all types of engagements including insurance claims related to commercial, industrial, high rise, special structures, governmental, residential, and infrastructure damages. The Company has a presence in over 20 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.

About Held Enloe & Associates

Held Enloe & Associates was formed in 2005 by two of the construction and insurance industries’ top leaders, Lisa A. Enloe and Jonathon C. Held. Today, Held Enloe & Associates is a full service construction consulting firm with expertise in managing and advising on large complex construction projects of all types. Held Enloe offers a variety of construction and development related services to enable clients to more effectively manage risk and uncertainty throughout all phases of construction, from project commencement through close-out. For more information regarding Held Enloe & Associates, please visit www.heldenloe.com.
Mar 25,
2015

Lovell Minnick To Sell Mercer Advisors To Genstar Capital
03.25.15

Lovell Minnick To Sell Mercer Advisors To Genstar Capital

SAN FRANCISCO, March 25, 2015 – Genstar Capital, a leading middle market private equity firm based in San Francisco, today announced that it has signed a definitive agreement to partner with management in acquiring a majority interest in Mercer Advisors from Lovell Minnick Partners, a private equity firm which specializes in lower middle-market investments in the financial services industry.

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 $6 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, added: “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 Advisors 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, noted: “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. Mercer Advisors is currently a portfolio company of Lovell Minnick Partners. Moelis & Company acted as exclusive financial advisor to Mercer Advisors.

About Mercer Advisors

Established in 1985, Mercer Advisors Inc. is a total wealth management firm that provides fee-only comprehensive investment management, financial planning, family office services, retirement benefits and distribution planning, estate planning, and tax management services to affluent individuals. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with nearly $6 billion in assets under management and more than 4,300 clients. Headquartered in Santa Barbara, California, Mercer Advisors is privately held, has over 140 employees and operates nationally with 15 branch offices across the country. For more information about Mercer Advisors, visit www.merceradvisors.com.

About Genstar Capital

Genstar Capital (www.gencap.com) is a private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $3 billion and targets investments focused on selected sectors within the financial services, software, healthcare, and industrial technology industries. Current investments in financial services include an asset manager focused on alternative investment solutions; a provider of critical data, business intelligence, and information services to the global investment management industry; a leading Midwest retail insurance brokerage; and a leading provider of investment management, client relationship tools, and practice management programs to financial advisors.

About Lovell Minnick Partners

Lovell Minnick Partners LLC is a private equity firm with expertise in investing in the financial and related business services sectors. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised over $1.2 billion in committed capital and has completed investments in over 30 companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services. Lovell Minnick has a demonstrated track record of increasing value through a variety of methods including internal investment, acquisitions, and prudent use of leverage.
Jan 13,
2015

Michael F. Dura Joins Lovell Minnick Partners As Senior Advisor
01.13.15

Michael F. Dura Joins Lovell Minnick Partners As Senior Advisor

RADNOR, Pennsylvania, January 13, 2015 — Lovell Minnick Partners LLC, an independent private equity firm providing buyout and growth capital to companies in the financial services industry, has retained Michael F. Dura as a Senior Advisor.

As a Senior Advisor, Mr. Dura will assist Lovell Minnick’s investment team in the sourcing, evaluation and due diligence of investment opportunities with a particular focus on broker-dealers, securities processing services and financial technology companies. He also will collaborate with fellow Senior Advisors Dr. Heinz J. Hockmann, a former executive officer at Commerzbank AG in Germany, and Alan F. Warrick, a former Aegon insurance executive, in supporting Lovell Minnick portfolio companies in various board and strategic roles.

Mr. Dura has over 30 years of experience in the financial services industry, with an extensive operating history in securities, financing, and asset management businesses. Most recently, he was an Executive Vice President of National Financial Services, a Fidelity Investments company, after leading the sale of Correspondent Services Corporation, a wholly-owned subsidiary of UBS, to National Financial Services in 2003. Prior to becoming President of Correspondent Services Corporation, Mr. Dura served as Joint Group Managing Director and co-head of the global securities business of Schroder & Co., Inc., with primary operating responsibility for all business lines in the Americas, until the sale of the investment bank to Salomon SmithBarney in 2000.

Mr. Dura is currently a Managing Partner and co-founder of Prex Capital Partners, LLC, a private management firm established in 2004 and specializing in providing advisory services to hedge funds, broker dealers and related financial services firms. Mr. Dura is a member of the board of directors of Keane Holdings Inc., and previously served on the board of First Allied Holdings, both Lovell Minnick portfolio companies. He holds a B.A. in Political Science and Economics from Columbia University and resides with his wife and two children in Albany, NY.

“We have had the privilege of working with Mike for nearly a decade on several opportunities and are very pleased to have Mike formally join us as a senior advisor,” said Jeffrey D. Lovell, Chairman of Lovell Minnick Partners.

About Lovell Minnick Partners LLC

Lovell Minnick Partners LLC is a private equity firm providing buyout and growth capital to companies in the financial services industry. Having raised over $1.2 billion in committed capital, we have provided equity capital for management buyouts, succession and ownership transitions, growth investments, and recapitalizations for over 30 middle-market companies. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, such as asset management, financial planning, financial product distribution, specialty finance, insurance and securities brokerage, commercial banking and trust services, and related administration and business services companies and outsource providers in the financial services industry.
Dec 11,
2014

Keane Acquires Unclaimed Property Recovery & Reporting, LLC
12.11.14

Keane Acquires Unclaimed Property Recovery & Reporting, LLC

Acquisition further strengthens Keane’s position as premier unclaimed property services provider.

New York, NY, December 11, 2014 – Keane, the nation’s leading provider of outsourced unclaimed property solutions, today announced the acquisition of Unclaimed Property Recovery & Reporting, LLC and its wholly owned subsidiary, UPRR Securities LLC, a registered Broker-Dealer  (UPRR). Through the acquisition, Keane further strengthens its position as the industry leader, providing unclaimed property services to more than 2,000 public corporations, banks, broker-dealers, mutual funds, insurance carriers, and transfer agents.

“This acquisition is ideal for the industry, as the services offered by both Keane and UPRR complement each other perfectly,” commented Keane Chief Executive Officer, Michael J. O’Donnell. “Through the combination of each of our advanced owner location service platforms, clients of both Keane and UPRR will now have access to an even greater suite of services to assist their shareholders, customers, and investors.”

Keane’s owner location and communication services, ranked the highest in Group Five’s annual shareholder services report for the fifth consecutive year, will grow and expand through UPRR’s impressive technologies and unique service offerings, such as its Pre-Escheat Location (PEL) owner communication program. Keane will also supplement its outsourced escheat reporting services and unclaimed property consulting and compliance services through the addition of key management and operational talent.

UPRR Chief Administrative Officer, Pete Miller remarked, “I believe the combination of Keane and UPRR will provide clients with a unique set of tools to reduce unclaimed property risk and return property to the correct owners.”

About Keane

Keane is the country’s leading provider of comprehensive outsourced unclaimed property solutions. Keane provides corporations, mutual funds, banks, brokerages, insurance companies and transfer agents with a full suite of professional outsourced services, including locating account owners or beneficiaries, risk mitigation, customer communication programs, recovery of escheated assets, consulting, reporting and other unclaimed property compliance-related services.  Keane employs more than 200 people across the country. Keane is headquartered in New York, NY with a main operating facility in King of Prussia, PA, and has various satellite offices across the country. For more information, please visit www.KeaneUP.com.

About UPRR

Since 1996, UPRR has developed customized solutions to minimize the liability and risk associated with unclaimed property for a vast array of organizations spanning across multiple industries.  Staffed by employees with decades of experience in this field, UPRR provides clients with thorough and thoughtful answers to the most challenging unclaimed property questions.  Additionally, through UPRR’s proprietary escheat compliance system, UPRR clients can be assured that the requirements of all reporting jurisdictions are met.
Sep 17,
2014

361 Capital Files To Launch 361 Global Long/Short Equity Fund
09.17.14

361 Capital Files To Launch 361 Global Long/Short Equity Fund

Analytic Investors to serve as fund sub-advisor

DENVER, September 17, 2014 – 361 Capital, an asset management firm specializing in liquid alternative mutual funds, announced today that it has filed with the Securities and Exchange Commission (SEC) to launch the 361 Global Long/Short Equity Fund. Los Angeles-based Analytic Investors, which manages approximately $10 billion in assets, will sub-advise the Fund.

The 361 Global Long/Short Equity Fund will use the same investment strategy as the Analytic Global Long/Short Equity Portfolio, a Separately Managed Account (SMA), which was launched in December 2009.

“The launching of this Fund will provide a quality long/short mutual fund option to investors. There is clearly a shortage of attractive long/short equity mutual funds, and even more so funds that deliver global exposure,” said Tom Florence, CEO of 361 Capital. “In Analytic Investors, we have a sub-advisor with more than 40 years of experience managing both traditional and non-traditional portfolios. Importantly, they have effectively been managing this strategy for almost 5 years.”

Founded in 1970, Analytic Investors is an employee-owned, boutique asset management firm specializing in quantitative investment solutions and portfolio management. Analytic Investors strives to anticipate and capitalize on changes in the investment climate through a disciplined, active management strategy.

“We manage money for some of the world’s most sophisticated and demanding institutional investors, and look forward to bringing our investment focus to advisors and their clients,” said Harin de Silva, Ph.D., CFA, President and Portfolio Manager of Analytic Investors. “We have worked with the senior management at 361 in the past and believe they have the right approach to working with advisors, and will execute their plans for the growth of this Fund.”

The Fund will seek to achieve long-term capital appreciation. The Fund also seeks to participate in rising markets and preserve capital in down markets.

The filing of the 361 Global Long/Short Equity Fund is the first of a series of funds the Firm plans to offer that will be sub-advised by single managers. It also follows the launch of two new internally managed mutual funds, 361 Global Managed Futures Strategy Fund and 361 Global Macro Opportunity Fund, by the firm in the last five months. In addition, effective August 28, 2014, the Firm has changed the name of its 361 Long/Short Equity Fund to the 361 Market Neutral Fund. The renamed fund will maintain its investment strategy and track record, but will now be classified in Morningstar’s Market Neutral category.

About 361 Capital

361 Capital is an asset management firm specializing in liquid alternative investments. Founded in 2001, the firm is a pioneer in delivering innovative alternative investment strategies to investors in highly liquid vehicles. 361 Capital specializes in managed futures, market neutral, multi-strategy, and global macro strategies, accessible through mutual funds, limited partnerships, and separate accounts. The firm distributes its products through investment advisors and institutions. For more information, call 866-361-1720 or visit www.361capital.com.

About Analytic Investors

Analytic Investors employs a quantitative investment process in managing assets for institutional and mutual fund investors in the United States, Australia, Europe, Canada and Japan. The Los Angeles-based firm offers a variety of global and regional investment products including traditional equity, low volatility equity, long/short equity and option-based strategies. Analytic Investors specializes in the application of modern quantitative tools and is a leader in the application of risk-managed strategies. The firm believes that the use of such techniques allows it to fulfill clients’ objectives through rational, systematic identification of market opportunities. More information is available at www.aninvestor.com.

 

A REGISTRATION STATEMENT RELATING TO THE 361 GLOBAL LONG/SHORT EQUITY FUND HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. SHARES OF THE FUND MAY NOT BE SOLD UNTIL THE REGISTRATION STATEMENT BECOMES EFFECTIVE. THIS COMMUNICATION IS NOT AN OFFER TO SELL SHARES OF THE FUND IN ANY STATE WHERE SUCH OFFERS ARE NOT PERMITTED. Before investing, you should carefully consider the Fund’s investment objectives, risks, charges and expenses. You may obtain a preliminary prospectus with this and other information about the Fund by calling 1-888-736-1227. The preliminary prospectus is incomplete and subject to change. The final prospectus, when available, should be read carefully before investing.

Investors should consider the 361 Funds’ investment objectives, risks, charges and expenses carefully before investing. For a prospectus, or summary prospectus, that contains this and other information about the Funds, call 1-888-736-1227 or visit www.361capital.com. Please read the prospectus or summary prospectus carefully before investing.

Past performance does not guarantee future results. The Funds’ performance may be influenced by political, social and economic factors affecting investments in foreign markets, including exposure to currency fluctuations relative to the U.S. dollar, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability, and differing auditing and legal standards. Emerging markets tend to be more volatile than the markets of more mature economies. The value of securities held by the Funds may fall due to general market and economic conditions. The securities of small-cap companies may be subject to more abrupt or erratic market movements; trading may be more erratic or have lower volume than securities of larger companies. Fixed income securities are subject to the risk that securities could lose value because of interest rate, inflation and credit changes.

Derivatives can be highly volatile, illiquid and difficult to value, and changes in the value of a derivative held by the Funds may not correlate with the underlying instrument or the Funds’ other investments. The Funds may make short sales, which may expose the Funds to the risk that it will be required to “cover” the short position at a time when the underlying instrument has appreciated in value, thus resulting in a loss to the Funds. Losses may be incurred even if they are “covered”.  The use of leverage may further magnify the Funds’ gains or losses.

Funds’ performance may be more vulnerable to changes in the market value of a single position and more susceptible to risks associated with a single economic, political or regulatory occurrence than a diversified fund. The Funds may have limited or no track record on which to base investment decisions. Regulators may undertake rulemaking, supervisory or enforcement actions that would adversely affect the Funds. Active and frequent trading may lead to a greater proportion of the Funds’ gains being treated for federal income tax purposes as short-term capital gains or to distribute taxable income to its shareholders sooner than it would have distributed income if the investments were held for longer periods of time. Frequent trading and overlapping security transactions including ETFs would also result in transaction costs, which could detract from performance.

Alternative Investments are speculative and involve substantial risks. It is possible that investors may lose some or all of their investment.

The 361 Funds are distributed by IMST Distributors, LLC.
Jun 10,
2014

361 Capital Enters Into Strategic Partnership With Lovell Minnick Partners
06.10.14

361 Capital Enters Into Strategic Partnership With Lovell Minnick Partners

DENVER, June 10, 2014 – 361 Capital, an asset management firm specializing in liquid alternative investments, announced today that it has entered into a strategic partnership with Lovell Minnick Partners, a private equity firm focused on financial services. Lovell Minnick Partners will assume a minority ownership stake in the Denver-based alternatives firm. Transaction terms were not disclosed.

“Lovell Minnick is a preeminent private equity firm with a long track record of successful investing in asset management businesses,” said Tom Florence, CEO of 361 Capital. “The firm’s stake in 361 Capital strengthens our investment capabilities and positions us for significant growth.” Mr. Florence added that the ability to leverage Lovell Minnick’s deep relationships within the industry will help to accelerate 361 Capital’s expansion.

361 Capital recently announced a comprehensive growth strategy aimed at adding new funds through partnerships and expanding its unique distribution pipeline. The firm plans to partner with hedge fund managers and successful managers of alternative mutual funds, who will serve as sub-advisors to the new funds. Distribution will be carried out through a hybrid strategy that leverages marketing automation, technology and a strong sales force, with a focus on reaching registered investment advisors.

Jeff Lovell, Chairman of Lovell Minnick Partners, said 361 Capital is well-positioned to capitalize on the long-term opportunities in liquid alternatives. “We are very excited about the growth potential for liquid alternatives,” said Mr. Lovell, who added, “361 Capital has a management team with a unique combination of proven success in alternative investing and considerable experience with mutual fund distribution. This gives us great confidence in their ability to execute their business plan and become a leader in the space, and we are pleased to partner with them in supporting their growth.”

About 361 Capital

361 Capital is an asset management firm specializing in liquid alternative investments. Founded in 2001, the firm is a pioneer in delivering innovative alternative investment strategies to investors through highly liquid vehicles. 361 Capital specializes in managed futures, long/short equity, multi-strategy, and global macro strategies, accessible through mutual funds, limited partnerships, and separate accounts. The firm distributes its products through investment advisors and institutions. For more information, call 866-361-1720 or visit www.361capital.com.

About Lovell Minnick Partners LLC

Lovell Minnick Partners LLC is an independent, management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in Philadelphia and Los Angeles, Lovell Minnick manages private equity partnerships that have raised over $1.1 billion in committed capital. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, securities brokerage, financial consulting services, banking, specialty finance, and specialized outsourcing solutions. For more information regarding Lovell Minnick Partners, call 610-995-9660 or visit www.lovellminnick.com.
Jun 09,
2014

Lovell Minnick Names New Principals: Jason Barg And Trevor Rich
06.09.14

Lovell Minnick Names New Principals: Jason Barg And Trevor Rich

RADNOR, Pennsylvania, June 9, 2014 – Lovell Minnick Partners LLC, an independent private equity firm providing buyout and growth capital to companies in the financial services industry, is pleased to announce the promotions of Jason S. Barg and Trevor C. Rich to Principal.  Lovell Minnick Partners, which has offices in the Philadelphia and Los Angeles areas, has raised over $1.1 billion in committed capital.

Messrs. Barg and Rich are members of the investment team that is completing the investment of Lovell Minnick Equity Partners III LP.  They have been involved with portfolio companies such as HD Vest Financial Services, Kanaly Trust, Keane, Matthews International Capital Management, Mercer Advisors, and TriState Capital.

Mr. Barg joined the firm’s Pennsylvania office in 2010 from Goldman Sachs’ Financial Institutions Group, where he was an Investment Banking Associate.  Mr. Barg is a CPA who began his career in forensic accounting at PricewaterhouseCoopers.  Mr. Barg received his MBA from the Wharton School of Business and holds a Bachelor of Science in Business Administration from Penn State University.

Mr. Rich joined the firm’s California office in 2010 from Morgan Stanley’s Strategic Acquisitions Group where he was an Analyst evaluating corporate acquisitions and divestitures.  Prior to Morgan Stanley, he was an Analyst in J.P. Morgan’s investment banking group.  Mr. Rich received his MBA from the Wharton School of Business and holds a Bachelor of Arts in Economics from Brigham Young University.

“Jason and Trevor have made significant contributions to our firm over the past several years and successfully led our due diligence efforts on several new investments.  Each has proven himself to be a highly skilled private equity professional and will be an important part of our future,” noted Chairman Jeffrey Lovell.

About Lovell Minnick Partners

Lovell Minnick Partners LLC is an independent, management-owned private equity firm providing buyout and growth capital to companies in the financial services industry.  From offices in the Philadelphia and Los Angeles areas, Lovell Minnick manages private equity partnerships that have raised over $1.1 billion in committed capital.  For more information regarding Lovell Minnick Partners and its portfolio companies, please visit www.lovellminnick.com.
Feb 20,
2014

Lovell Minnick Announces Acquisition Of Keane
02.20.14

Lovell Minnick Announces Acquisition Of Keane

NEW YORK CITY, February 20, 2014 – Lovell Minnick Partners is pleased to announce the acquisition of Keane, the nation’s leader in outsourced unclaimed property solutions.

Led by an experienced group of industry executives, Keane provides outsourced unclaimed property services to many of the nation’s largest financial institutions including transfer agents, mutual funds, banks, brokerages and insurance companies.  Services include locating account owners or beneficiaries, risk mitigation, customer communication programs, recovery of escheated assets, consulting, reporting and other unclaimed property compliance-related services.

Keane Chief Executive Officer Michael O’Donnell commented, “We are very excited to partner with Lovell Minnick given their depth of knowledge and relationships in the financial services industry.  We have a shared vision for the growth potential of Keane, and I look forward to their assistance in helping us execute on our strategy.” Senior management team members at Keane will invest in the company alongside Lovell Minnick.

Lovell Minnick Managing Director Bob Belke said, “We believe the Company is well positioned for growth.  The regulatory environment concerning unclaimed property continues to evolve and grow more complex.  Keane has the team and resources to help financial institutions navigate through these challenges.  We are thrilled to partner with Mike and his team as they continue to deliver best-in-class solutions to the industry”.

About Keane

Keane is the country’s leading provider of comprehensive outsourced unclaimed property solutions. From customized communication programs to in-depth consulting and annual compliance outsourcing, Keane provides corporations, mutual funds, banks, brokerages, insurance companies and transfer agents with a full suite of professional outsourced services. Keane employs more than 200 people across the country in its New York, NY headquarters, main operating facility in King of Prussia, PA, and various satellite offices. For more information on Keane, please visit www.KeaneUP.com.

About Lovell Minnick Partners LLC

Lovell Minnick Partners LLC is an independent private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in Philadelphia and Los Angeles, Lovell Minnick manages private equity partnerships with committed capital totaling over $850 million. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, banking, specialty finance, financial product distribution, securities brokerage, financial consulting services and specialized outsourcing solutions. For more information regarding Lovell Minnick Partners, visit www.lovellminnick.com.
Jan 07,
2014

TriState Capital Holdings, Inc. To Acquire Chartwell Investment Partners, L.P.
01.07.14

TriState Capital Holdings, Inc. To Acquire Chartwell Investment Partners, L.P.

PITTSBURGH, Jan. 7, 2014 – TriState Capital Holdings, Inc. (NASDAQ: TSC) entered into a definitive asset-purchase agreement to acquire Chartwell Investment Partners, L.P., an investment management firm with over 150 institutional clients and approximately $7.5 billion in assets under management.

The holding company for TriState Capital Bank has been actively evaluating investment management firms as part of its longstanding strategy to potentially acquire a firm in order to profitably accelerate recurring fee-income growth, while complementing the products and services the Pittsburgh-based bank already offers to financial intermediaries and high-net-worth clients nationwide. The purchase will include substantially all of the assets of Chartwell, and TriState Capital believes the acquisition will be approximately 25 percent accretive to its earnings per share in the first 12 months following completion of the transaction.

“Chartwell’s partners and employees have built a world-class investment management firm, and we look forward to supporting their continued growth and success in serving their exceptional institutional clients,” TriState Capital Chief Executive Officer James F. Getz said. “The acquisition of Chartwell will enhance TriState Capital’s recurring fee income, provide new product offerings for our national network of financial intermediaries and leverage our financial services distribution capabilities. We are excited that Chartwell has the talent and infrastructure already in place to accommodate significant growth in client accounts and assets for years to come.”

TriState Capital has estimated the transaction value to be approximately $60 million, comprised of a purchase price of approximately $45 million, payable in cash, and estimated earn-out consideration of approximately $15 million to be finally determined based on the growth in profitability of Chartwell in 2014. Up to 60 percent of the earn-out may be paid in common stock of TriState Capital at its option. The asset purchase transaction is expected to close in the first quarter of 2014, subject to regulatory requirements, obtaining certain Chartwell-client consents and other customary closing conditions.

Chartwell provides advisory and sub-advisory investment management services primarily to institutional plan sponsors such as public mutual funds, corporations, Taft-Hartley funds, endowments and foundations. Its annual revenues are expected to exceed $25 million in 2013. Chartwell has maintained an excellent account retention record since its founding in 1997, and its entire team of more than 40 employees will be joining TriState Capital. The investment management business will become a wholly owned subsidiary of TriState Capital Holdings, Inc., and it will continue to operate from its Berwyn, Pa. offices under the Chartwell brand upon completion of the transaction.

“We are very pleased to be joining the TriState Capital team,” said Chartwell Managing Partner, Chief Executive Officer Timothy J. Riddle. “Given TriState Capital’s financial strength and growth culture, its officers’ and directors’ experience in building investment management businesses, and their support for our proprietary, fundamentals-based approach to identifying quality investments, we believe this partnership will be an outstanding fit. Importantly, our clients will continue to be served by the same investment and client service professionals they’ve come to rely on for consistent results and exceptional service, and we look forward to introducing our capabilities to TriState Capital’s financial intermediaries and relationship managers.”

TriState Capital’s evaluation of asset management firms was focused on those within its geographic footprint, and the company’s presence in the Greater Philadelphia market will be enhanced by the addition of Chartwell’s office in the Main Line suburbs. TriState Capital Bank’s Eastern Pennsylvania regional team and representative office will continue to be located in nearby Villanova, Pa.

The board of directors of TriState Capital and the partners of Chartwell have voted in favor of the transaction, which is not subject to approval by TriState Capital shareholders.

TriState Capital’s legal advisor on the transaction is Keevican Weiss Bauerle & Hirsch LLC. Stephens Inc. served as financial advisor and provided a fairness opinion to TriState Capital. Chartwell’s legal advisor is Pepper Hamilton LLP.

ABOUT TRISTATE CAPITAL
TriState Capital Holdings, Inc. is the registered bank holding company for TriState Capital Bank, a commercial bank serving middle-market businesses and high-net-worth individuals. Headquartered in Pittsburgh, Pa., TriState Capital has representative offices in Philadelphia, Cleveland, Princeton, N.J., and New York City, and serves private banking clients nationwide. Established in 2007, TriState Capital had assets of approximately $2.2 billion as of Sept. 30, 2013. It has also announced plans to acquire Chartwell Investment Partners, an investment management firm with about 150 institutional clients and $7.5 billion in assets under management, in a transaction that is expected to close during the first quarter of 2014. For more information, please visit www.tristatecapitalbank.com.
Aug 09,
2013

Mercer Advisors Sells Mastery Division To Patterson Companies
08.09.13

Mercer Advisors Sells Mastery Division To Patterson Companies

Sale includes Mercer’s OnTrack® dental practice management software system

Santa Barbara, CA — August 2, 2013 — Mercer Advisors Inc. today announced the sale of Mercer Mastery to Patterson Companies, Inc. (Nasdaq: PDCO). Mercer Mastery was a wholly-owned subsidiary of Mercer Advisors providing online business intelligence systems, consulting, workshops and transition services to dental practices nationwide. Through the acquisition, Patterson will gain Mercer’s proprietary OnTrack® dental practice performance software system.

“This is a strategic acquisition that enhances our software offerings for dental practices,” said Paul Guggenheim, president of Patterson Dental. “Mercer’s OnTrack software is a highly compatible solution that can be easily integrated into our platforms to expand our industry-leading software offerings. Longer-term, we anticipate leveraging the OnTrack system across all of Patterson’s businesses to generate additional revenue opportunities.”

According to David Barton, president and CEO of Mercer Advisors, “OnTrack is a cloud-based business intelligence system that allows dentists to choose growth targets for their practice and then create a business plan to achieve those goals. Utilizing customizable planning elements and a cutting edge executive dashboard, OnTrack monitors, measures and helps manage key performance indicators known to drive practice growth.”

Patterson Dental currently offers powerful dental practice software systems for general dentists through its Eaglesoft software and for orthodontic practices with its Dolphin Imaging and Management Solutions.

The transaction closed on July 31, 2013.

About Mercer Advisors Inc.

Established in 1985, Mercer Advisors Inc. is a total wealth management firm that provides comprehensive investment management, financial planning, family office services, and retirement plan design and administration, to affluent individuals. Mercer Advisors is the parent company of Mercer Global Advisors, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with $5 billion in assets under management and more than 3,800 clients nationwide. Mercer Advisors is privately held, has over 150 employees and operates nationally with 15 branch offices across the country. For more information about Mercer Advisors, visit www.merceradvisors.com.

About Patterson Companies, Inc.

Patterson Companies, Inc. is a value-added distributor serving the dental, companion-pet veterinarian and rehabilitation supply markets.

Dental Market
As Patterson’s largest business, Patterson Dental provides a virtually complete range of consumable dental products, equipment and software, turnkey digital solutions and value-added services to dentists and dental laboratories throughout North America.

Veterinary Market
Patterson Veterinary is a leading distributor of consumable veterinary supplies, equipment and software, diagnostic products, vaccines and pharmaceuticals to companion-pet veterinary clinics.

Rehabilitation Market
Patterson Medical is the world’s leading distributor of rehabilitation supplies and non-wheelchair assistive patient products to the physical and occupational therapy markets. The unit’s global customer base includes hospitals, long-term care facilities, clinics and dealers.
Jun 12,
2013

Lovell Minnick Partners Announces The Sale Of First Allied
06.12.13

Lovell Minnick Partners Announces The Sale Of First Allied

Radnor, PA, June 11, 2013 – Lovell Minnick Partners, a leading private equity firm focused on investments in the global financial services industry, announced today that is has signed an agreement to sell First Allied to RCAP Holdings, a firm focused on direct retail investments. First Allied, together with its subsidiaries including The Legend Group, serves over $32 billion in assets across 300,000 clients, 1,500 independent financial advisors and 500 branches in the United States. First Allied’s core value proposition centers around driving advisor efficiency and productivity, which has resulted in the company being a perennial leader in average advisor production. Following this transaction, First Allied, The Legend Group and their subsidiaries will continue to operate autonomously under the current management structure and will maintain their respective brands as part of the RCAP Holdings’ family of companies.

Robert M. Belke, Managing Director of Lovell Minnick Partners, commented, “We have enjoyed a strong partnership with the First Allied team over the years and we wish them great success in the future. We also have tremendous respect for RCAP Holdings and expect it will be a valuable strategic partner to First Allied going forward. This transaction reflects our belief that a profitable exit from an investment makes sense when it brings together companies with complementary competencies. We believe the combined First Allied and RCAP Holdings businesses will be well-positioned to create substantial future value for all stakeholders.”

Adam Antoniades, CEO and President of First Allied, commented, “We benefited from a successful partnership with Lovell Minnick, during which time we saw transformational growth in our business, ultimately driving to this step in our evolution as a firm. We are excited to join RCAP Holdings and its family of companies, where we believe our advisors will benefit from immediate access to a well-capitalized platform tailored to provide mass affluent, emerging high-net-worth, and retirement-focused investors with the next generation of industry-leading investment solutions focused on durable income and principal preservation. Both First Allied and Legend advisors can expect RCAP Holdings and its management to further support their trusted relationships with their clients by maintaining an unwavering commitment to providing unbiased, objective advice through our client-focused model.”

Nicholas S. Schorsch, CEO and Chairman of RCAP Holdings, commented, “We see value and opportunity for growth in a paradigm shift toward a sustainable direct relationship between the mass affluent investor and their independent financial advisor. The acquisition of First Allied gives RCAP Holdings a top-notch management team – in our view, one of the premier independent teams in the industry. Our value-add to First Allied is in being the best financial partner we can be, while also providing strategic insights and direction where we can be helpful.”

About Lovell Minnick Partners

Lovell Minnick Partners LLC is an independent private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in Philadelphia and Los Angeles, Lovell Minnick manages private equity partnerships with committed capital totaling over $850 million. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, banking, specialty finance, financial product distribution, securities brokerage, financial consulting services and specialized outsourcing solutions. For more information regarding Lovell Minnick Partners, visit www.lovellminnick.com.

About First Allied Holdings

Headquartered in San Diego, First Allied Holdings Inc. operates an independent retail broker/dealer that serves as the firm of choice for independent financial advisors seeking to grow their businesses. First Allied’s exclusive business development platform has been expertly constructed to provide entrepreneurial advisors with the industry’s most comprehensive platform for growth. Dedicated to providing independent financial advisors with a competitive edge, First Allied empowers advisors to successfully compete and win the battle for high-net-worth and ultra-affluent clients. First Allied’s subsidiary companies provide brokerage, investment advisory, asset management, insurance, retirement plan design, technology, training and support services to financial advisors nationwide. First Allied’s subsidiaries include The Legend Group, a specialized provider of investment and retirement solutions to the not-for-profit space, including 403(b) accounts. For more information about First Allied and The Legend Group, visit www.firstallied.com and www.legendgroup.com.

About RCAP Holdings

Based in New York, RCAP Holdings, LLC focuses on the retail direct investment industry and owns a direct majority economic interest in Realty Capital Securities, LLC, a FINRA registered wholesale broker/dealer and an investment banking and capital markets business, American National Stock Transfer, LLC, an SEC registered transfer agent, and RCS Advisory Services, LLC, a transaction management services business.
May 08,
2013

TriState Completes Initial Public Offering
05.08.13

TriState Completes Initial Public Offering

PITTSBURGH — May 8, 2013 — TriState Capital Holdings, Inc. (“TriState Capital”), the holding company for TriState Capital Bank, today announced the pricing of its initial public offering of 5,700,000 shares of common stock at a price to the public of $11.50 per share, including 5,500,000 primary shares of common stock being offered by TriState Capital.

The common stock will be listed on the NASDAQ Global Select Market and is expected to begin trading on May 9, 2013, under the symbol “TSC.” The offering is expected to close on May 14, 2013. To commemorate the first day of trading, TriState Capital’s founders are expected to ring the Opening Bell at the NASDAQ MarketSite in New York City on Thursday, May 9th.

The underwriters have a 30-day option to purchase up to an additional 855,000 shares from TriState Capital at the initial public offering price less the underwriting discount to cover over-allotments, if any.

Stephens Inc., Keefe, Bruyette & Woods, A Stifel Company, and Baird are serving as joint bookrunning managers, and Macquarie Capital is serving as co-manager for the offering. The offering will be made only by means of a prospectus. Copies may be obtained from Stephens Inc., Attention: Prospectus Department, 111 Center Street, Little Rock, AR 72201, by telephone at 1-501-377-2130 or by email at prospectus@stephens.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective by the SEC on May 8, 2013.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT TRISTATE CAPITAL:
TriState Capital Holdings, Inc., is the registered bank holding company for TriState Capital Bank, a commercial bank serving middle-market businesses, professionals and high-net-worth individuals. Headquartered in Pittsburgh, Pa., TriState Capital has representative offices in Philadelphia, Cleveland, Princeton, N.J., and New York City and serves private banking clients nationwide. Established in 2007, TriState Capital had assets of approximately $2.1 billion as of March 31, 2013. For more information, please visit www.tristatecapitalbank.com.
Mar 11,
2013

ICBA And Kanaly Trust Announce Strategic Partnership
03.11.13

ICBA And Kanaly Trust Announce Strategic Partnership

LAS VEGAS, NV  (March 11, 2013)— The Independent Community Bankers of America® (ICBA) today announced a new strategic partnership with Kanaly Trust to provide community banks with a unique option to maximize their existing trust and wealth management assets. The announcement was made during the 2013 ICBA National Convention and Techworld® at the Wynn Las Vegas and Encore.

“Many community banks have successful and growing trust and wealth management offerings, but others face challenges, including succession, compliance and a difficult operating environment. Too often these banks are faced with divesting these valuable assets and risking client relationships,” ICBA Services Network President and CEO Gary Teagno said.

Kanaly Trust is a wealth management firm with more than $2 billion in assets under management. In addition to wealth management services, the company provides trust/estate services to families, individuals and estates. The firm is independent of any banking or corporate relationships and does not promote specific financial products or services. Along with ICBA, the new solution is backed by Lovell Minnick Partners, a private equity firm that invests in financial service companies and SEI (NASDAQ: SEIC), a leading global provider of outsourced processing and wealth management solutions for institutional and private clients.

With more than 35 years of experience, along with access to substantial capital, technology and human resources, Kanaly Trust will deliver comprehensive offerings and targeted expertise to clients. “This is a truly unique partnership that offers community banks a new solution for their trust wealth management businesses,” Bill Rankin, CEO of Houston, Texas,-based Kanaly Trust, said.

“Through this strategic partnership, ICBA member banks will now have a strategic alternative with a non-depository—without risk of losing deposits or related lending,” Cynthia Blankenship, ICBA Services Network chairman and vice chairman and chief operating officer, Bank of the West, Grapevine, Texas, said. “In the end, this is an opportunity for community banks who may wish to free up capital while continuing to provide unparelled services to their most valued trust clients.”

About Kanaly Trust

Kanaly Trust is a wealth management firm with approximately $2 billion in assets under management. The company provides comprehensive financial planning and trust/estate services to families, individuals and estates with assets in excess of $1 million. The firm is independent of any banking or corporate relationships and does not promote specific financial products or services. Kanaly Trust serves as the trustee or executor for estates totaling more than $2.5 billion, and works with clients worldwide. Based in Houston, Kanaly Trust was founded in 1975 by Deane Kanaly. For more information, visit www.kanaly.com.

About Lovell Minnick Partners LLC

Lovell Minnick Partners is an independent private equity firm providing equity capital for private company leveraged buyouts and recapitalizations, and growth capital for developing companies.  From offices in Philadelphia and Los Angeles, Lovell Minnick Partners manages private equity partnerships with committed capital totaling over $850 million.  Portfolio companies operate across a broad array of financial services, including asset management, banking, specialty finance, financial product distribution, securities brokerage, financial consulting services, and specialized outsourcing solutions.

About ICBA

The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.
Feb 27,
2013

Lovell Minnick Partners Exits Investment In PlanMember
02.27.13

Lovell Minnick Partners Exits Investment In PlanMember

PlanMember Financial Corporation and AXA Equitable Form National Distribution Marketing Alliance

February 27, 2013 – PlanMember Financial Corporation (“PlanMember” or the “Company”) is pleased to announce that is has completed a recapitalization with AXA Group. As part of the transaction, PlanMember will form a national distribution alliance with AXA Equitable which will include them as a primary PlanMember Insurance Program Provider. This alliance serves as a long-term strategic growth opportunity in the employer-sponsored markets, as well as the individual planning markets for both PlanMember and AXA Equitable.

As part of the transaction, Lovell Minnick Partners will exit its investment in the Company. PlanMember has been a portfolio company since October 2006 when the private equity firm led a recapitalization and provided growth capital to the Company. Lovell Minnick Managing Director, Robert Belke, commented, “It has been a pleasure to work with Jon Ziehl and the rest of the PlanMember team over the last six years and we wish them well in their new partnership with AXA.”  Jon Ziehl, CEO of PlanMember, said “Lovell Minnick was integral in the growth and development of PlanMember in recent years.  Without Lovell Minnick’s strategic and financial assistance, we could not have attracted an industry partner of AXA’s caliber to support the continued expansion of our independent distribution model.”

About Lovell Minnick Partners

Lovell Minnick Partners is an independent private equity firm providing equity capital for private company leveraged buyouts and recapitalizations, and growth capital for developing companies.  From offices in Philadelphia and Los Angeles, Lovell Minnick Partners manages private equity partnerships with committed capital totaling over $850 million.  Portfolio companies operate across a broad array of financial services, including asset management, banking, specialty finance, financial product distribution, securities brokerage, financial consulting services, and specialized outsourcing solutions.  For more information, visit www.lovellminnick.com.

About PlanMember Financial Corporation

Headquartered in Carpinteria, California, PlanMember Financial Corporation has been an industry-leading broker/dealer for over two decades. With over 400 registered representatives, a growing number of PlanMember Financial Centers across the country, $5 billion in assets under management and over 120,000 customer accounts, PlanMember is an approved retirement plan provider in over 3,000 school districts and nonprofit organizations nationwide. PlanMember Securities Corporation is a registered broker/dealer, investment advisor and member FINRA/SIPC. For more information visit www.planmember.com.

About AXA Equitable


In business since 1859, AXA Equitable Life Insurance Company (NY, NY) is a leading financial protection company and one of the nation’s premier providers of life insurance and annuity products, as well as investment products and services through its affiliates, including, AXA Advisors, LLC. The company’s products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC. Find AXA Equitable on Facebook and Twitter or visit the company’s multi-media newsroom The Source @ AXA Equitable.

AXA Equitable, a subsidiary of AXA Financial, Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. “AXA Group” refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. For more information, visit www.axa-equitable.com.
Feb 01,
2013

Dahlman Rose & Co LLC To Be Acquired By Cowen Group, Inc.
02.01.13

Dahlman Rose & Co LLC To Be Acquired By Cowen Group, Inc.

Dahlman Rose & Company LLC has signed an agreement to be acquired by Cowen Group, Inc. in an all-stock transaction that is expected to close in March.  Following is the press release issued from Dahlman Rose.

Dahlman Rose & Company Announces Acquisition by Cowen Group, Inc.

NEW YORK (February 1, 2013) – Dahlman Rose & Company, LLC, (“Dahlman Rose” or “the Company”) and Cowen Group, Inc. (NASDAQ: COWN) (“Cowen”) today announced the signing of a definitive agreement under which Cowen will acquire Dahlman Rose, a leading investment bank specializing in energy, metals and mining, transportation, chemicals and agriculture sectors. This acquisition is an all-stock transaction, and financial terms of the deal were not disclosed.

Robert C. Meier, CEO of Dahlman Rose said, “Dahlman Rose’s expertise in energy, transportation, metals and mining, chemicals and agriculture is a strong complement to Cowen core sectors of health care, technology, media, telecommunications, consumer, aerospace and defense/industrials and REITs. Dahlman Rose and its customers will benefit from the added breadth of Cowen’s product offerings and the strength and stability of their platform.”

The transaction, which is expected to close by the end of the first quarter of 2013, is subject to customary closing conditions and regulatory approvals.

Willkie Farr & Gallagher LLP acted as legal advisor to Cowen on this transaction. Morgan Lewis & Bockius, LLP acted as legal advisor to Dahlman Rose for this transaction.

ABOUT DAHLMAN ROSE & CO.

Dahlman Rose & Co., LLC is a research-driven investment bank focused on energy, transportation, infrastructure, and other industries that compose the global supply chain. The firm’s industry-leading analysts, bankers, and traders offer unique insight into the companies and markets that provide the building blocks of the global economy. Dahlman Rose provides institutional sales and trading, equity research, mergers and acquisitions advisory, and underwriting services.

ABOUT COWEN GROUP, INC.

Cowen Group, Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative investment, investment banking, research, and sales and trading services through its two business segments: Ramius and its affiliates makes up the Company’s alternative investment segment, while Cowen and Company is its broker-dealer segment. Its alternative investment products, solutions and services include hedge funds, replication products, managed futures funds, fund of funds, real estate and health care royalty funds. Cowen and Company offers industry focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors. Founded in 1918, the firm is headquartered in New York and has offices located in major financial centers around the world.
Jan 10,
2013

Lovell Minnick Partners Promotes Brad Armstrong To Principal
01.10.13

Lovell Minnick Partners Promotes Brad Armstrong To Principal

RADNOR, Pennsylvania, January 10, 2013 – Lovell Minnick Partners LLC, an independent private equity firm providing buyout and growth capital to companies in the financial services industry, is pleased to announce the promotion of W. Bradford Armstrong to Principal.

Mr. Armstrong joined Lovell Minnick in 2009 from Bank of America Merrill Lynch’s Financial Institutions Group, where he was an Investment Banking Associate focused on transactions involving commercial and trust banks, asset managers and financial technology companies. Previously, Mr. Armstrong was an Assistant Vice President in Bank of America’s Finance Group, where he was responsible for managing the financial reporting and budgeting for the bank’s global call center operations.  Brad began his career in a strategic development group within Wachovia Corporation, now part of Wells Fargo Corporation.

Mr. Armstrong received an MBA in Finance from the Kellogg School of Management at Northwestern University and a Bachelor of Science in Business Administration from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.

‘‘Brad has been involved in the execution of many new investments since he joined us in 2009,’’ said Jim Minnick, Managing Director. “He has proven to be a highly valuable member of our team, and his promotion to Principal is well-deserved”. Mr. Armstrong will be joining the Boards of Directors of First Allied Holdings, Inc. and Commercial Credit Group, Inc. as a result of his promotion.

About Lovell Minnick Partners

Lovell Minnick Partners LLC is an independent private equity firm providing buyout and growth capital to companies in the financial services industry.   From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships with committed capital totaling over $850 million. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, banking, specialty finance, financial product distribution, securities brokerage, financial consulting services, and specialized outsourcing solutions. For more information regarding Lovell Minnick Partners visit www.LovellMinnick.com.
Dec 30,
2012

Duff & Phelps To Be Acquired By Investor Group
12.30.12

Duff & Phelps To Be Acquired By Investor Group

Lovell Minnick led the buyout of Duff & Phelps from Webster Bank in 2004

NEW YORK — Dec. 30, 2012– Duff & Phelps Corporation (NYSE: DUF) (“the Company”), a leading independent financial advisory and investment banking firm, announced today that it has entered into a definitive merger agreement under which a consortium (“the Consortium”) comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group will acquire the Company for $15.55 per share in cash in a transaction valued at approximately $665.5 million.

The offer represents a 19.2% premium to the closing price of Duff & Phelps shares on December 28, 2012, and 27.3% over the Company’s volume weighted average share price during the 30 days ended December 28, 2012. The transaction is expected to close in the first half of 2013, subject to customary closing conditions—including the receipt of stockholder and regulatory approvals.

Noah Gottdiener, chief executive officer of Duff & Phelps, said, “Duff & Phelps Board of Directors, acting on advice from the Company’s legal and financial advisors, agrees that this transaction is in the best interest of our stockholders, who will receive an immediate and certain cash premium for their shares. Importantly, the transaction will be structured to preserve the firm’s independence as we serve our clients in the future.”

Olivier Sarkozy, Managing Director and head of Carlyle’s Global Financial Services group, said, “Regulatory demands, implementation of new accounting policies and requirements for increased corporate disclosure and third party validation provide significant growth opportunities for Duff & Phelps core products and services. We will harness Carlyle’s and Stone Point’s global networks while leveraging Duff & Phelps preeminent brand to foster growth in new geographies. Additionally, we believe the involvement of Pictet and Edmond de Rothschild Group will support the Company’s initiatives to enhance its international presence and expand its Limited Partner client base. We are excited to work with Noah and his management team on this opportunity.”

Charles A. Davis, Chief Executive Officer of Stone Point Capital, added, “Noah and his colleagues have performed admirably throughout market cycles and have done a superb job executing their business plan to grow the Company. Today, Duff & Phelps is well-positioned in the marketplace, and we believe that demand for the Company’s independence, integrity and professionalism will only increase in the current environment.”

The merger agreement provides for a “go-shop” period commencing immediately and ending on February 8, 2013, during which the Company, with the assistance of its financial and legal advisors, will actively solicit and potentially receive, evaluate and enter into negotiations with third parties that offer alternative transaction proposals. It is not anticipated that any developments will be disclosed with regard to this process, unless the Duff & Phelps board makes a decision with respect to a potential superior proposal. There is no guarantee that this process will result in a superior proposal. The merger agreement provides for a break-up fee of approximately $6.65 million if the Company terminates the agreement prior to March 8, 2013, in connection with a superior proposal that first arose during the go-shop period.

All members of the senior management team have agreed to remain employed by, and invest in the equity of, the Company following the closing of the transaction. They have agreed to offer to participate on similar terms in any other acquisition proposal that may be made for the Company.

The pro forma Board of Directors will comprise nine members – including two representatives each from the management team, The Carlyle Group and Stone Point Capital, in addition to three independent directors. No single member of the Consortium will own more than 35% of the pro forma Company.

The transaction has been approved by the Board of Directors of Duff & Phelps, following the recommendation of a transaction committee consisting of independent directors. The Board of Directors of Duff & Phelps recommends that stockholders vote in favor of the transaction at the special meeting of stockholders that will be called to approve the transaction. Stockholders beneficially owning an aggregate of approximately 10% of the outstanding shares of the Company have already agreed to vote their shares in favor of the transaction; these commitments terminate if the merger agreement is terminated.

The merger agreement provides that the Company can continue to pay dividends if declared by the Company in the normal course prior to closing of the merger.

Advisors

Duff & Phelps:
• M&A: Centerview Partners
• Legal: Kirkland & Ellis LLP

The Consortium:
• M&A: Sandler O’Neill + Partners, L.P. (Lead Advisor), Credit Suisse, Barclays, RBC Capital Markets
• Financing: Credit Suisse, Barclays, RBC Capital Markets
• Legal: Wachtell, Lipton, Rosen & Katz

About Duff & Phelps

As a leading global financial advisory and investment banking firm, Duff & Phelps balances analytical skills, deep market insight and independence to help clients make sound decisions. The firm provides expertise in the areas of valuation, transactions, financial restructuring, alternative assets, disputes and taxation, with more than 1,000 employees serving clients from offices in North America, Europe and Asia. Investment banking services in the United States are provided by Duff & Phelps Securities, LLC; Pagemill Partners; and GCP Securities, LLC. Member FINRA/SIPC. M&A advisory services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd. Duff & Phelps Securities Ltd. is authorized and regulated by the Financial Services Authority. For more information, visit www.duffandphelps.com. (NYSE: DUF)
Oct 31,
2012

First Allied Announces The Acquisition Of The Legend Group
10.31.12

First Allied Announces The Acquisition Of The Legend Group

SAN DIEGO, CA, October 31, 2012 – First Allied Holdings Inc. (First Allied) announced today that it has entered into an agreement to acquire The Legend Group (Legend). Based in Palm Beach Gardens, FL, Legend is a leading provider of unique investment services and innovative retirement planning solutions. Consisting of Legend Equities Corporation, Legend Advisory Corporation and Advisory Services Corporation, The Legend Group of companies will operate as an independent business unit under the First Allied Holdings Inc. umbrella. Subject to customary approvals, the transaction is expected to close in the first quarter of 2013.

 

Joel Marks, Chairman of First Allied Securities, said, “Legend has an incredible team of experienced financial professionals, a strong brand, and a focused business model that complements First Allied’s existing business. Growing together and sharing best practices will open up new opportunities and will enable us to better serve our advisors and their clients.”

 

Adam Antoniades, President and CEO of First Allied, said, “Both Legend and First Allied have successfully executed on a strategy focused on premium advisor service and education, in their respective niches, and we are committed to supporting that strategy. The Legend and First Allied families of companies share many qualities—they have similar cultures and values, long histories of innovation in the independent advisor industry, and experienced teams that have worked together for many years.”

 

Legend’s CEO, Mark Spinello, said, “For decades, we have prided ourselves on providing premium services and support, and we believe this transaction will further enhance our ability to deliver premier solutions to our advisors and their clients. Joining First Allied aligns us with a partner company that shares our independent roots and our business goals.”

 

Shashi Mehrotra, President and Chief Investment Officer of Legend, added, “Our companies share a common set of values, including teamwork, innovation and integrity; in this respect, First Allied is a natural partner, and we are excited about growing with them.”

 

The Legend Group will continue to operate under its current brand as a stand-alone, sister company to the existing First Allied entities. The companies will seek to explore synergies within the organization, which will likely translate to an expansion of services and programs offered to advisors and clients. The combined entities will have nearly 1,400 advisors and $28 billion in assets under administration.

 

Mr. Marks added, “Both Legend and First Allied recognize that the culture, relationships, and business practices at each firm have contributed to each entity’s historical success. Legend and First Allied remain committed to the growth and enhancement of each individual business unit. We look forward to welcoming Legend into the First Allied family.”

 

 

 

About First Allied

 

First Allied is a full-service, independent broker/dealer with nearly 1,000 financial advisors in 500 branches located throughout the United States. First Allied includes an independent broker/dealer, registered investment adviser, wealth management, insurance services and pension services businesses. Founded in 1994 as a privately held company, First Allied remains committed to its vision of providing independent financial advisors with innovative products, unparalleled education, differentiated financial products, integrated wealth management solutions and comprehensive access to subject matter expertise. First Allied fosters an environment that serves and nurtures advisors who want to increase the productivity, size and profitability of their individual practices. In November 2011, the First Allied management team and Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, completed the acquisition of First Allied. For more information about First Allied, please visit www.firstallied.com.

 

About The Legend Group®

 

The Legend Group is a unique investment services provider offering quality investment solutions to clients for nearly 50 years. Legend provides a wide variety of products to its clients with premier service and personalized attention. Legend provides investment solutions for retirement, education savings plans, insurance needs, income generation, and professional portfolio management. Legend is headquartered in Palm Beach Gardens, FL, and has additional offices around the country. For more information about Legend, please visit www.legendgroup.com.
Oct 22,
2012

Eagle Asset Management Acquires Lovell Minnick’s Interest In ClariVest Asset Management
10.22.12

Eagle Asset Management Acquires Lovell Minnick’s Interest In ClariVest Asset Management

Raymond James Affiliate Announces Agreement to Acquire 45% in ClariVest Asset Management

ST. PETERSBURG, FL – Eagle Asset Management, Inc. (“Eagle”) has announced a definitive agreement to purchase 45 percent of ClariVest Asset Management LLC (“ClariVest”) from Lovell Minnick Partners LLC (“Lovell Minnick”) and other minority investors, creating a strategic relationship and providing additional distribution opportunities for ClariVest products. The transaction is expected to be completed around the end of the calendar year.

San Diego-based ClariVest, launched in 2006, manages more than $3 billion in client assets and currently markets its investment services to corporate and public pension plans, foundations, endowments and Taft-Hartley clients worldwide. The principals of the firm have proven track records in quantitative-based investment strategies. ClariVest management’s ownership shares will remain unchanged.

“This transaction expands the breadth of Eagle’s investment management expertise while providing ClariVest with additional resources to continue growing and expanding its business,” said Richard Rossi, president of Eagle and co-chief operating officer.

“A shared focus on disciplined investment strategies executed by proven, experienced teams is a critical aspect of this investment,” added Cooper Abbott, co-chief operating officer and executive vice president of investments. “ClariVest clients can continue to rely on the same investment process they’ve grown to trust.”

ClariVest offers a diversified range of domestic, international, emerging markets and global products, combining stock selection with advanced risk control techniques to exploit market inefficiencies.

Stacey Nutt, Ph.D., President and Chief Investment Officer of ClariVest, commented on behalf of the investment team and firm, “We believe that this affiliation will best position our firm so as to ensure continued excellent client service, investment team focus, and firm continuity over what promises to be a bright future. We are extremely excited about this relationship.”

ClariVest has been a portfolio company of Lovell Minnick Partners since March 2006, when Lovell Minnick teamed with six former senior members of a global asset management firm to form an independent quantitative investment management business.  Jim Minnick, President and Managing Director of Lovell Minnick, commented, “It has been a successful partnership for Lovell Minnick and the ClariVest team.  Thanks to both management and employees for their hard work in growing and developing the company.  We wish the team well in their future endeavors.”

About Eagle Asset Management, Inc.

Eagle Asset Management, a subsidiary of Raymond James Financial (NYSE:RJF), provides institutional and individual investors with a broad array of equity and fixed income products designed to meet long-term investing goals. The firm’s clients currently entrust more than $20 billion* in investment strategies designed to deliver above-average, risk-adjusted returns via both separately managed account and mutual fund platforms.

*As of June 30, 2012 and includes Eagle Asset Management, Inc. and its wholly-owned subsidiaries
Oct 09,
2012

Kanaly Trust To Enter Partnership With Lovell Minnick
10.09.12

Kanaly Trust To Enter Partnership With Lovell Minnick

HOUSTON, October 9, 2012 – Kanaly Trust, LTA (“Kanaly Trust”) and Lovell Minnick Partners LLC (“Lovell Minnick”) are pleased to announce that Lovell Minnick has agreed to acquire Kanaly Trust, a leading independent trust company providing comprehensive wealth management and financial planning services to families, individuals and estates.

Kanaly Trust has offered independent investment advice to its clients for over 35 years by combining financial planning, trust and estate services with a best-of-breed approach to outside manager selection. Today, Kanaly Trust has nearly $2 billion in assets under management.  It serves as trustee or executor for estates totaling more than $2.5 billion.

Proceeds from the transaction will be used to provide liquidity to certain existing shareholders and promote future company growth. The Kanaly family along with members of the senior management team of Kanaly Trust will retain a material investment in the firm and continue their focus on clients.

Drew Kanaly will remain in his role as Chairman of Kanaly Trust and Jeff Kanaly will serve as Vice Chairman.  Bill Rankin is expected to join Kanaly Trust as Chief Executive Officer effective at the close of the transaction.  Mr. Rankin has extensive experience in the wealth management industry, and was most recently President and Chief Executive Officer of Shelterwood Financial.  Mr. Rankin has held executive roles at Rockefeller & Co., Atlantic Trust, Stein Roe Investment Counsel, and Mellon Bank.

Kanaly Trust Chairman Drew Kanaly commented, “We are excited to join with Lovell Minnick and Bill Rankin as we continue to pursue the vision of outstanding and non-conflicted client service that my father believed in 37 years ago.”  Jeff Kanaly, Vice Chairman, stated, “Lovell Minnick has the expertise and resources to help Kanaly Trust get to the next level, and it is comforting to know that Kanaly Trust has a succession plan that will benefit our clients and personnel for years to come.”

Lovell Minnick President & Managing Director Jim Minnick said, “We look forward to working with the team at Kanaly Trust, a premier trust company that is deeply committed to its clients.  The acquisition of Kanaly Trust resulted from an extended search undertaken by our firm to identify a leading platform investment within the trust and wealth management space.”   Bill Rankin added “Kanaly Trust has an impressive reputation for its commitment to client service.  I am excited to join Drew, Jeff and the rest of the Kanaly team as we continue to strive for excellence and premier solutions for our clients.”

The transaction is expected to close in the fourth quarter of 2012, subject to customary regulatory reviews and approvals.

About Kanaly Trust, LTA

Kanaly Trust is a wealth management firm with approximately $2 billion in assets under management. The company provides comprehensive financial planning and trust/estate services to families, individuals and estates with assets in excess of $1 million. The firm is independent of any banking or corporate relationships and does not promote specific financial products or services. Kanaly Trust serves as the trustee or executor for estates totaling more than $2.5 billion, and works with clients worldwide. Based in Houston, Kanaly Trust was founded in 1975 by Deane Kanaly. For more information, visit www.kanaly.com.

About Lovell Minnick Partners LLC

Lovell Minnick Partners is a private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Philadelphia and Los Angeles areas, Lovell Minnick has raised over $850 million in committed capital from qualified private and institutional investors and has completed investments in over 30 companies. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry including asset management, financial product distribution, commercial and private banks, outsourced administration services, securities brokerage, investment banks and financial consulting. For more information about Lovell Minnick, please visit www.lovellminnick.com
Aug 21,
2012

TriState Capital Holdings Closes Investment By Lovell Minnick Partners
08.21.12

TriState Capital Holdings Closes Investment By Lovell Minnick Partners

PITTSBURGH – August 21, 2012 – TriState Capital Holdings, Inc. (TriState Capital) has closed a minority investment from private equity firm Lovell Minnick Partners LLC (Lovell Minnick), both companies announced today.

As part of the transaction, Lovell Minnick invested $50 million in TriState Capital, and all regulators have approved.  The firms are privately held, and additional terms were not disclosed.   Jim Minnick has joined TriState Capital Bank’s board of directors.
TriState Capital Bank, a subsidiary of TriState Capital, remains the largest start-up bank in Pennsylvania history.  Launched in 2007 in Pittsburgh with more than $100 million, TriState Capital Bank has grown to include offices in the Philadelphia area, Cleveland, Princeton and New York City. TriState Capital Bank is an independent commercial and private bank serving middle market businesses, professionals and high net worth individuals.

“We remain focused on quality loans, competitive deposit offerings and strong client relationships.  Our commitment to our client base, regulatory compliance and prudent risk management has fostered healthy growth despite challenging economic and industry conditions,” said Jim Getz, chairman and CEO of TriState Capital Bank.

“We appreciate the support of Lovell Minnick and the opportunity to include them in our investor group.  We believe this investment will help us to continue pursuing our business plan and strategic opportunities,” added Getz.

Lovell Minnick, with offices in the Philadelphia and Los Angeles areas, is an independent private equity firm specializing in the global financial services industry. For more than a decade, Lovell Minnick has invested in financial and related companies that meet stringent criteria for leadership, operations and growth potential.

Jim Minnick, president and managing director of Lovell Minnick said, “TriState is a dynamic bank with a strong management team, accomplished professionals and attractive growth prospects. We are very pleased to have the opportunity to be part of TriState’s future.”

About TriState Capital Holdings, Inc.

TriState Capital Holdings, Inc. is the registered bank holding company for TriState Capital Bank, a commercial and private bank serving middle market businesses, professionals and high net worth individuals. Headquartered in Pittsburgh, Pennsylvania, TriState Capital has representative offices in Pennsylvania, Ohio, New Jersey and New York and serves private banking clients nationwide. Established in 2007, TriState had assets of approximately $1.9 billion as of June 30, 2012. For more information, please visit www.tristatecapitalbank.com.
May 10,
2012

Lovell Minnick Partners Acquires A Majority Equity Interest In Commercial Credit Group And Provides Growth Capital
05.10.12

Lovell Minnick Partners Acquires A Majority Equity Interest In Commercial Credit Group And Provides Growth Capital

Charlotte, NC May 10, 2012 – Lovell Minnick Partners is pleased to announce the acquisition of a majority interest in Commercial Credit Group Inc. (“CCG”), a leading commercial and equipment finance company focused on the fleet transportation, waste management, and construction industries.

Led by an experienced group of industry executives, CCG has emerged as a nationwide player in the equipment finance sector. Since its inception in 2004, CCG has originated over $1 billion of finance receivables. CCG’s growth has been guided by a deep commitment to its conservative underwriting principles, resulting in industry-leading asset quality performance and continued growth in profitability.

Proceeds from the transaction will be used to support CCG’s future growth and provide liquidity to certain institutional shareholders. The senior management team of CCG will continue to have a significant ownership interest in the firm.

CCG Co-Founder and Chief Executive Officer Dan McDonough commented, “With this investment by Lovell Minnick, we are pleased to add a scalable equity capital partner who embraces our vision for growth. Lovell Minnick has a track record of developing successful, high growth companies, and their exclusive focus on financial services enables them to effectively support the execution of our growth plan.”

Lovell Minnick Managing Director John Cochran added, “Following the financial crisis, the equipment finance market, like many segments of the credit markets, has undergone significant competitive dislocation, marked by the departure or pull back of many industry players. CCG’s management, with its niche focus and client-centric philosophy, has expertly navigated this environment. We are excited to partner with such an accomplished team.”

Keefe, Bruyette & Woods Inc. (NYSE: KBW) acted as the exclusive financial advisor to CCG in connection with the transaction.

About Commercial Credit Group Inc.

Commercial Credit Group Inc. is an independent specialty finance company that provides secured loans and leases for commercial and industrial equipment. CCG’s primary customers are small and mid-sized family-owned businesses in the transportation, waste management, and construction industries. CCG provides loans and leases ranging in size from $50 thousand to $2.5 million for the purchase and refinance of equipment such as cranes, trucks, trailers, earth moving and waste equipment. CCG was founded in 2004, and is headquartered in Charlotte, North Carolina. Since inception, CCG has originated over $1 billion of finance receivables. CCG originates loans and leases directly to customers through a captive sales force located throughout the United States.  For more information, please visit www.commercialcreditgroup.com.
Apr 11,
2012

Heinz J. Hockmann Joins Lovell Minnick Partners As Senior Advisor
04.11.12

Heinz J. Hockmann Joins Lovell Minnick Partners As Senior Advisor

RADNOR, Pennsylvania, April 11, 2012 — Lovell Minnick Partners LLC, an independent private equity firm providing buyout and growth capital to companies in the financial services industry, has engaged Dr. Heinz J. Hockmann as a Senior Advisor.

As Senior Advisor, Dr. Hockmann will assist and advise Lovell Minnick’s investment professionals in deal sourcing, due diligence and evaluation, with specific focus on international asset management opportunities.  Dr. Hockmann joins Alan Warrick, a former Aegon insurance executive, in Lovell Minnick’s senior advisor effort.

Dr. Hockmann was an executive officer at Commerzbank AG in Germany for nearly twenty years and was a Member of the Management Board of the bank with responsibilities for asset management, private banking and investment banking.  Earlier in his career at Commerzbank, he founded its asset management business for international institutional clients and built the bank’s global asset management platform.  Dr. Hockmann’s group oversaw €140 billion in assets under management across 20 countries.  After his tenure at Commerzbank, through 2005, he led the restructuring of Westfalenbank AG, a bank focused on mid-size companies, asset management and private banking.  He then joined Fortis Investments and developed its asset management business in Germany, Austria and Eastern Europe.  In 2008, he co-founded Silk Invest, an investment management company headquartered in London and specialized in frontier markets with offices in various African and Middle Eastern countries.  Dr. Hockmann serves on the Board of Silk Invest as well as the boards of several German companies in the financial services sector including WWK, a major German insurance company.  Dr. Hockmann holds a master’s degree from Bochum University where he also received his Ph.D. in 1983.

“Dr. Hockmann’s extensive banking and asset management background along with his expertise in the international markets will provide Lovell Minnick with valuable industry insights as we seek new investments,” said Jeffrey D. Lovell, Chairman and Managing Director of Lovell Minnick Partners.

Dr. Hockmann noted, “I have previously worked with several Lovell Minnick partners for many years and have observed the firm’s superb investment performance and their strong team development.  I look forward to working alongside them in the global asset management market.”

Lovell Minnick Partners is actively investing Lovell Minnick Equity Partners III LP which closed in January 2010. This $455 million partnership has completed four investments to date and is focused on investments in various financial segments, including asset management, financial planning, financial product distribution, specialty finance, securities brokerage, banking, outsourcing providers and related companies specializing in administration services.
Feb 27,
2012

Duff & Phelps Announces Common Stock Offering Of 4,500,000 Shares
02.27.12

Duff & Phelps Announces Common Stock Offering Of 4,500,000 Shares

NEW YORK, February 27, 2012  –  Duff & Phelps Corporation (NYSE: DUF), a leading independent financial advisory and investment banking firm, today announced that it has commenced an underwritten public offering of 4,500,000 shares of its common stock. Duff & Phelps is offering 3,201,922 shares in the offering and Shinsei Bank, Limited is offering an additional 1,298,078 shares as a selling stockholder. The Company and the selling stockholder will grant the underwriter a 30-day option to purchase up to an additional 675,000 shares.  Goldman, Sachs & Co. is acting as the sole underwriter for the offering.

Duff & Phelps intends to use the net proceeds it receives from the offering to redeem 3,201,922 units in Duff & Phelps Acquisitions, LLC held by some of its existing unit holders, including approximately one third of the units owned by each of Vestar Capital Partners and its affiliates and Lovell Minnick Partners LLC and its affiliates and units owned by certain of the Company’s executive officers.  In addition, Duff & Phelps intends to use cash from its balance sheet and borrowings under its revolving credit facility to redeem an additional 700,000 units held by such unitholders.  Holders who elect to be redeemed in connection with this offering will agree to a lock-up for a period of 90 days after the date of the prospectus supplement for this offering.  Existing unit holders, other than executive officers and directors, who are not being redeemed with the proceeds from this offering will not be subject to such lock-up.  Duff & Phelps will not receive any proceeds from the sale of the shares being sold by Shinsei.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-471-2526.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and a related prospectus supplement, which have or will be filed with the SEC.

 
About Duff & Phelps 

As a leading global financial advisory and investment banking firm, Duff & Phelps balances analytical skills, deep market insight and independence to help clients make sound decisions. The firm provides expertise in the areas of valuation, transactions, financial restructuring, alternative assets, disputes and taxation, with more than 1,000 employees serving clients from offices in North America, Europe and Asia. Investment banking services in the United States are provided by Duff & Phelps Securities, LLC; Pagemill Partners; and GCP Securities, LLC. Member FINRA/SIPC. M&A advisory services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd. Duff & Phelps Securities Ltd. is authorized and regulated by the Financial Services Authority. Investment banking services in France are provided by Duff & Phelps SAS. For more information, visit www.duffandphelps.com. (NYSE: DUF)
Jan 25,
2012

First Allied Announces Acquisition Of PCG Pension Consulting Group
01.25.12

First Allied Announces Acquisition Of PCG Pension Consulting Group

SAN DIEGO, CA, January 25, 2012 — First Allied Holdings Inc. (“First Allied”) announced the acquisition of PCG Pension Consulting Group, Inc., a Santa Cruz, California based retirement services business with approximately 350 clients. The company will become part of Associates in Excellence, Inc., a First Allied subsidiary based in Walnut Creek, California. First Allied Chief Executive Officer Adam Antoniades said, “Pension Consulting Group is a great addition to our retirement services business and highlights the expertise and capability of the First Allied team to continue to expand offerings to clients and allow advisors to grow their businesses.”

The transaction demonstrates the strength of the First Allied team to successfully execute and integrate transactions. First Allied Chief Marketing Officer Bob Holcomb commented, “This acquisition illustrates the dedication of management to grow the business and successfully execute on opportunities to continue to better serve advisors and clients. We are excited to further enhance First Allied’s products, strategies, technology and services offered to advisors and clients.”

About First Allied Holdings Inc.

First Allied is a full-service, independent broker/dealer with approximately 1,000 financial advisors in 500 branches located throughout the United States. First Allied includes an independent broker/dealer, registered investment advisor, wealth management, insurance services and pension services businesses. Founded in 1994 as a privately held company, First Allied remains committed to its vision of providing independent financial advisors with innovative products, unparalleled education, affluent lead generation programs, a suite of differentiated products, integrated wealth management solutions and access to subject matter expertise. First Allied fosters an environment that serves and nurtures advisors who want to increase the productivity, size, and profitability of their individual practices. In November 2011, the First Allied management team and Lovell Minnick Partners, a private equity firm that focuses on investments in the financial services industry, completed the acquisition of First Allied from Advanced Equities Financial Corp. For more information about First Allied, please visit www.firstallied.com.
Dec 19,
2011

Duff & Phelps Agrees To Acquire Pagemill Partners
12.19.11

Duff & Phelps Agrees To Acquire Pagemill Partners

Addition of Silicon Valley-Based M&A Firm Enhances Global Technology Industry Expertise


NEW YORK, December 19, 2011 – Duff & Phelps Corporation (NYSE: DUF), a leading independent financial advisory and investment banking firm, today announced that it has entered into a definitive agreement to acquire Pagemill Partners, a Silicon Valley-based investment banking and valuation services firm. Consisting of 25 employees, the Pagemill team focuses on advising global technology companies in the middle market, as well as emerging organizations. The acquisition will enhance Duff & Phelps’ Mergers & Acquisitions practice and further develop the firm’s technology industry expertise.

Terms of the transaction were not disclosed. Subject to customary closing conditions, the transaction is expected to close by the end of the year.

The Pagemill team will work closely with colleagues throughout Duff & Phelps who provide complementary financial advisory services and technology industry expertise, including professionals in the firm’s existing Silicon Valley and San Francisco offices.  This collaboration continues an effort to strengthen key industry specializations for Duff & Phelps; earlier this year, the firm deepened its knowledge of the energy, mining and infrastructure industries by acquiring Texas-based investment banking services firm Growth Capital Partners.

“For eight years, Pagemill Partners has leveraged transactional experience and personal commitment to help clients and shareholders consistently achieve successful M&A outcomes,” said Jacob Silverman, leader of the Investment Banking segment and head of corporate development for Duff & Phelps. “Their proven understanding of the global technology business landscape will complement our existing expertise, better positioning us to advise technology clients on their most important matters – including cross-border situations.”

Since 2003, Pagemill Partners has provided M&A advisory, private placement advisory and valuation services. The team has closed more than 160 transactions – approximately one-third of which were cross-border situations – in such industries as enterprise, infrastructure and application software; semiconductors; Internet and media; communications; storage; security; technology-enabled services; and many other sub-segments. Pagemill Partners has advised clients on transactions with Microsoft, IBM, Intel, GE, Oracle, Broadcom, Qualcomm and other industry leaders.

“The entire Pagemill team is extremely excited to join Duff & Phelps’ global platform,” said Scott Munro, managing director at Pagemill Partners. “We look forward to contributing our technology M&A expertise, while also gaining access to a broader suite of services, an international geographic footprint and other resources. This will allow us to more effectively serve our clients while also pursuing a wider range of engagements and capability enhancements.”

About Duff & Phelps


As a leading global financial advisory and investment banking firm, Duff & Phelps balances analytical skills, deep market insight and independence to help clients make sound decisions. The firm provides expertise in the areas of valuation, transactions, financial restructuring, alternative assets, disputes and taxation, with more than 1,000 employees serving clients from offices in North America, Europe and Asia. Investment banking services in the United States are provided by Duff & Phelps Securities, LLC. Member FINRA/SIPC. M&A advisory services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd. Duff & Phelps Securities Ltd. is authorized and regulated by the Financial Services Authority. Investment banking services in France are provided by Duff & Phelps SAS. For more information, visit www.duffandphelps.com. (NYSE: DUF)
Nov 02,
2011

Lovell Minnick Partners Completes Sale Of ALPS To DST Systems
11.02.11

Lovell Minnick Partners Completes Sale Of ALPS To DST Systems

Denver, CO, November 2, 2011 – Lovell Minnick Partners today announced that it has completed the previously announced sale of ALPS Holdings, Inc. (ALPS), a leading provider of asset servicing and asset gathering solutions to the asset management industry, to DST Systems, Inc. (NYSE: DST) for $250 million.

ALPS has been a portfolio company of Lovell Minnick Partners since September 2005 when the private equity firm acquired a majority interest.  Lovell Minnick President and Managing Director, Jim Minnick, commented, “It has been a pleasure to work with Ned Burke and the rest of the ALPS team over the last six years and we wish them well in their new partnership with DST.”  Spencer Hoffman, Managing Director at Lovell Minnick, added, “We have enjoyed an outstanding partnership with ALPS and congratulate them on the successful transaction with DST.”

Morgan Stanley & Co. LLC served as the exclusive financial advisor to ALPS for the transaction.

About ALPS Holdings, Inc.

Headquartered in Denver with offices in Boston, New York, and Seattle, ALPS is a 25-year-old financial services firm focused on asset servicing and asset gathering. With more than 300 employees, nearly 200 clients, and an executive team that has been in place for over 16 years, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. As of December 31, 2010, the firm managed more than $3.275 billion in assets and provided servicing to more than $291 billion in client assets. For more information about ALPS and the services available, visit www.alpsinc.com. For additional information about ALPS products, visit www.alpsfunds.com.

About DST Systems, Inc.

DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST’s world-class data centers provide technology infrastructure support for asset management, insurance and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly traded company on the New York Stock Exchange.
Oct 31,
2011

Duff & Phelps Expands European Presence With Acquisition Of MCR
10.31.11

Duff & Phelps Expands European Presence With Acquisition Of MCR

Addition of UK-Based Restructuring and Turnaround Firm Expands Duff & Phelps’ European Presence and Strengthens Global Restructuring Advisory Practice

NEW YORK, October 31, 2011 – Duff & Phelps Corporation (NYSE: DUF), a leading independent financial advisory and investment banking services firm, today announced that it has acquired MCR. Comprised of approximately 150 employees, MCR is a UK-based corporate restructuring and turnaround firm focused on insolvency administration and independent business reviews. For the 12-month period that ended June 30, 2011, MCR earned approximately 21mm GBP in revenue, excluding reimbursable expenses. The acquisition significantly expands Duff & Phelps’ presence in Europe and enhances the firm’s Global Restructuring Advisory practice. Terms of the transaction were not disclosed.

“For more than ten years, MCR has maximized recovery for stakeholders in insolvent businesses by generating innovative solutions to business problems,” said Noah Gottdiener, chief executive officer at Duff & Phelps. “Our new colleagues bring enormous credibility, strong relationships and impressive scale to a key part of the European market where Duff & Phelps has long been pursuing strategic expansion. Further, the MCR team will work collaboratively with Duff & Phelps’ existing team in Europe to deliver a more robust offering of technical expertise and sound advice to clients.”

Since 2001, MCR has worked with clients to restructure businesses and find turnaround solutions, often in the most complex situations. The MCR team – which operates out of offices in London, Manchester and Birmingham in the UK – also provides a broad range of business consulting and debt advisory services, with particular emphases on insolvency administration and independent business reviews. Industries served include property, manufacturing, printing, recruitment, financial services, hotels, leisure, ecommerce, automotive, telecommunications, music, entertainment and construction.

“All of us at MCR are excited about the prospect of building the business with Duff & Phelps, as this allows us to offer a more dynamic and broader range of services to our clients,” said Andrew Stoneman, managing partner at MCR.  “It’s an exciting time to take advantage of the synergies between our two like-minded organizations, as restructuring advisory services are needed across the United States and Europe.  Acting together, we are also well-positioned to assist with cross-border situations and to help clients navigate business environments that span multiple industries, geographies and regulatory systems.”

About Duff & Phelps

As a leading global provider of financial advisory and investment banking services, Duff & Phelps balances analytical skills, deep market insight and independence to help clients make sound decisions. The firm provides expertise in the areas of valuation, transactions, financial restructuring, alternative assets, disputes and taxation, with more than 1,000 employees serving clients from offices in North America, Europe and Asia. Investment banking services in the United States are provided by Duff & Phelps Securities, LLC. Member FINRA/SIPC. Investment banking services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd. Duff & Phelps Securities Ltd. is authorized and regulated by the Financial Services Authority. Investment banking services in France are provided by Duff & Phelps SAS. For more information, visit www.duffandphelps.com. (NYSE: DUF)

About MCR

MCR was formed in April 2001 to offer turnaround, restructuring and insolvency services of outstanding quality to banks, lenders, business owners and individuals in the mid-market sector.  It aims to provide the most practicable ways to resolve issues affecting business performance. The firm has 19 partners and directors who practice an ethos of high-level involvement to ensure that each assignment capitalises upon the expertise and knowledge of the whole team. MCR regularly handles significant projects across a range of sectors and has been involved in a number of high-profile cases. MCR is increasingly being asked to restructure businesses and find turnaround solutions to help companies avoid formal insolvency.  Sectors include property, retail, financial services, manufacturing, printing, recruitment, hotels, leisure, automotive, telecommunications, music, entertainment and construction.
Oct 04,
2011

Lovell Minnick And Parthenon Team Up To Acquire H.D. Vest Financial Services
10.04.11

Lovell Minnick And Parthenon Team Up To Acquire H.D. Vest Financial Services

Parthenon Capital Partners and Lovell Minnick Partners Complete Purchase of H.D. Vest Financial Services

Irving, TX, October 4, 2011 – An investor group led by Parthenon Capital Partners, Lovell Minnick Partners, and Fisher Lynch has completed the previously announced acquisition of H.D. Vest Financial Services from Wells Fargo & Company.

H.D. Vest’s Chief Executive Officer, Roger Ochs, stated, “This is a landmark event in our firm’s rich history, and we are excited to have Parthenon, Lovell Minnick, and Fisher Lynch partnering with us as we begin a new chapter of growth at H.D. Vest.  Their collective experience in the financial services arena complements our growth strategy and facilitates further enhancements to our advisor offering.  We are committed to providing an unparalleled offering to tax professionals throughout the United States and believe we are even better equipped to do so as an independent firm.”

Brian Golson, Managing Partner at Parthenon Capital, commented, “We were particularly attracted to the company’s exceptional track record of delivering a complete platform to the tax advisor market.  When we had the chance to partner with the company’s talented executive team to buy the business from Wells Fargo, we aggressively pursued the opportunity.”

Lovell Minnick Managing Director, Spencer Hoffman, added, “H.D. Vest’s brand, combined with its track record of growth and client service, firmly establishes the company’s leadership in providing financial advice through the tax professional market. H.D. Vest’s continued focus on tax professionals, and the specific needs they and their clients have, create a differentiated platform that we believe will thrive for years to come.”

Andrew Dodson, a Partner at Parthenon Capital Partners, commented on the market, “There are undeniable trends favoring increased saving for retirement and an increased need for independent financial advice.  H.D. Vest and its advisors are uniquely positioned to benefit from these trends.”

 

About H.D. Vest

Based in Irving, Texas, H.D. Vest is a leading independent broker/dealer providing investment and financial advisory solutions to retail investors through tax professionals located throughout the United States. Recognized as the largest tax professional-focused financial services company and third largest independent broker/dealer in the United States, H.D. Vest provides industry-leading training, technology, and support that enable tax professionals to deliver independent financial solutions to retail investors. Through over 4,800 securities-licensed tax professionals, H.D. Vest provides comprehensive financial services to more than 1.8 million individuals, families, and small businesses. For more information, visit www.hdvest.com.
Aug 22,
2011

Lovell Minnick Announces Acquisition Of First Allied
08.22.11

Lovell Minnick Announces Acquisition Of First Allied

Lovell Minnick and First Allied Management to Partner in Spin-off of First Allied from Advanced Equities

San Diego, CA August 22, 2011 – First Allied, a leading independent financial services firm, announced that its management team and Lovell Minnick Partners (Lovell Minnick), a private equity firm that focuses on investments in the financial services industry, have reached an agreement to acquire First Allied from Advanced Equities Financial Corp. (Advanced Equities). First Allied includes the independent broker/dealer, registered investment advisor, wealth management, insurance services and pension services businesses that make up the independent brokerage group of Advanced Equities. Upon closing of the transaction, First Allied will become an independent company and continue to operate under the First Allied brand.

Lovell Minnick is an independent private equity firm that specializes in growth-oriented investments in the global financial services industry. It is widely recognized for its financial services industry knowledge, with a particular focus in the areas of asset management, financial planning, financial product distribution and securities brokerage.

The separation is being undertaken by First Allied and Advanced Equities so that each can concentrate on its core business. The companies will continue to work together through a distribution relationship that will provide for the continued availability of Advanced Equities’ products and services to First Allied’s affiliated independent advisors and their clients.

No operating changes are expected to arise from the separation, which will largely be transparent to First Allied’s advisors and their clients. The company will continue to use the First Allied name and will retain its executive officers.

First Allied President Adam Antoniades said, “At a time when many independent broker/dealers are challenged to find sustainable growth, First Allied continues to succeed by providing a platform that enables its affiliated advisors to grow their businesses. Under the Advanced Equities umbrella, First Allied enjoyed significant growth and we are grateful for the relationship and support. Becoming a free-standing company, with the financial support of a great partner in Lovell Minnick, will provide us with additional flexibility and resources to further accelerate our growth.”

Lovell Minnick Managing Director Robert Belke commented, “This transaction culminates a multi-year search by Lovell Minnick to identify a strong management team and platform investment within the independent broker/dealer channel. First Allied has successfully executed on a strategy focused on premium advisor service and education, and we are committed to supporting that strategy. We are very excited to partner with the existing management team at First Allied to grow their business and take advantage of opportunities to better serve existing and new advisors and clients.”

 

Co-founder and CEO of Advanced Equities Financial Corp., Dwight Badger, added, “This transaction will allow us to focus on Advanced Equities, Inc., the business we started in 1999 and the part of the business we believe has significant upside potential for our stockholders. We have enjoyed having First Allied as a part of our company and wish the management team, and all of the employees there, well in their future endeavors.”

The transaction is expected to close in the fourth quarter of 2011, subject to customary regulatory reviews and approvals.

About First Allied

First Allied is a full-service, independent broker/dealer with approximately 1,000 financial advisors in 500 branches located throughout the United States. First Allied includes the independent broker/dealer, registered investment advisor, wealth management, insurance services and pension services businesses that make up the independent brokerage group of Advanced Equities. Founded in 1994 as a privately held company, First Allied remains committed to its vision of providing independent financial advisors with innovative products, unparalleled education, affluent lead generation programs, a suite of differentiated products, integrated wealth management solutions and access to subject matter expertise. First Allied fosters an environment that serves and nurtures advisors who want to increase the productivity, size, and profitability of their individual practices. For more information about First Allied, please visit www.firstallied.com.

 

About Advanced Equities Financial Corp.

 

Advanced Equities Financial Corp. (AEFC) is one of the industry’s most progressive financial service firms focusing on retail, institutional securities and venture capital investment banking. Their flagship company, Advanced Equities, Inc., (AEI) specializes in late-stage private equity finance for the U.S. technology sector. AEI bridges the gap between venture money and traditional corporate finance, providing investors with access to the technology sector’s elusive late-stage investments. For more information, please visit www.advancedequities.com.
Jul 19,
2011

Lovell Minnick To Sell ALPS To DST Systems
07.19.11

Lovell Minnick To Sell ALPS To DST Systems

Lovell Minnick to Sell ALPS to DST Systems

 

Denver – July 19, 2011 – ALPS Holdings, Inc. (ALPS), a leading provider of asset servicing and asset gathering solutions to the asset management industry, today announced the firm has signed a definitive agreement to be acquired by DST Systems, Inc. (NYSE: DST) for $250 million, through a merger with a wholly-owned DST subsidiary.

 

The transaction, subject to regulatory approval and certain conditions, is expected to close in the fourth quarter of 2011. DST and ALPS will remain as separate companies until the transaction is complete.

 

After transaction close, ALPS will merge with a newly-formed DST subsidiary and retain its brand identity. ALPS will go to market as ‘ALPS, a DST Company.’

 

“This transaction represents a healthy and natural progression for each firm,” said Ned Burke, CEO of ALPS. “Our suite of asset servicing and asset gathering solutions aligns closely with DST’s business goals and objectives. This new relationship allows us to maintain our unique culture at ALPS even as it empowers us to further grow our business.”

 

According to Burke, ALPS, well-recognized in the financial services industry for its top-rated client service, is uniquely positioned to provide expertise in a broad range of products. The acquisition will enable ALPS to leverage the scale and resources of DST, including its technology platform and data center infrastructure, to further expand its offerings in the marketplace.

 

“The ALPS infrastructure has evolved to serve the entire investment management industry, from product design to service to distribution,” says Mr. Burke, “and we’ve enjoyed a good deal of operational and financial accomplishment to those ends. We look forward to even greater success as part of the DST family of companies.”

 

ALPS has been a portfolio company of Lovell Minnick Partners since September 2005 when the private equity firm acquired a majority interest. According to Jim Minnick, President and Managing Director of Lovell Minnick, the relationship has been a very successful one, “thanks to the hard work by both management and employees, it’s been a rewarding and exciting six-year partnership for us with ALPS.” Further, Spencer Hoffman, Managing Director of Lovell Minnick, added, “this transaction demonstrates not only the company’s impressive growth over the last few years but also its significant value proposition to the investment management industry going forward.”

 

For DST, the acquisition broadens the firm’s offerings to include servicing of exchange traded funds, hedge funds, additional closed-end funds, as well as robust distribution capabilities. The ALPS affiliation also adds fund administration, fund accounting, legal and compliance services, medallion distribution, and creative services to DST’s lineup of solutions.

 

Morgan Stanley & Co. LLC served as the exclusive financial advisor to ALPS for the transaction. Deutsche Bank Securities Inc. served as the exclusive financial advisor to DST for the transaction.

About Lovell Minnick Partners LLC

Lovell Minnick Partners LLC is a private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling $800 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, securities brokerage and investment banking, financial consulting, and commercial and trust banks. For more information about Lovell Minnick, please visit www.lovellminnick.com.

About ALPS Holdings, Inc.

Headquartered in Denver with offices in Boston, New York, and Seattle, ALPS is a 25-year-old financial services firm focused on asset servicing and asset gathering. With more than 300 employees, nearly 200 clients, and an executive team that has been in place for over 16 years, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. As of December 31, 2010, the firm managed more than $3.275 billion in assets and provided servicing to more than $291 billion in client assets. For more information about ALPS and the services available, visit www.alpsinc.com. For additional information about ALPS products, visit www.alpsfunds.com.

About DST Systems, Inc.

DST Systems, Inc. provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, brokerage, insurance and healthcare industries. In addition to technology products and services, DST provides integrated print and electronic statement and billing output solutions through a wholly owned subsidiary. DST’s world-class data centers provide technology infrastructure support for mutual fund companies, broker-dealers, healthcare providers, banks, mortgage bankers and insurance companies around the globe. DST is headquartered in Kansas City, Mo., and is a publicly traded company on the New York Stock Exchange.
Jul 05,
2011

Duff & Phelps Acquires Growth Capital Partners
07.05.11

Duff & Phelps Acquires Growth Capital Partners

Addition of Texas-Based, Middle Market Investment Banking Firm Enhances Duff & Phelps’ Energy Industry Expertise

NEW YORK, July 5, 2011 – Duff & Phelps Corporation (NYSE: DUF), a leading independent financial advisory and investment banking services firm, today announced that it has acquired Growth Capital Partners. Comprised of approximately 20 client service professionals, Growth Capital Partners is a Texas-based investment banking firm focused on transactions in the middle market. The acquisition expands Duff & Phelps’ presence in the Southwestern United States and complements the firm’s expertise in the energy, mining and infrastructure industries. Terms of the transaction were not disclosed.

“For nearly 20 years, Growth Capital Partners has established itself as a premier provider of investment banking services that help clients achieve growth objectives and maximize shareholder value,” said Jacob Silverman, leader of the Investment Banking practice at Duff & Phelps. “Our new colleagues’ deep expertise in energy, oilfield services and other key sectors will contribute significantly to Duff & Phelps’ platform of service offerings and global presence. Further, Growth Capital Partners’ emphasis on excellent client service, integrity and teamwork aligns perfectly with the Duff & Phelps culture.”

Founded in 1992, Growth Capital Partners works with entrepreneurs, business owners and private equity organizations to meet their growth and liquidity objectives. The team provides a broad range of investment banking services, with emphases on company sales, private placements, management-led buyouts and valuation services. The company serves a diverse client base from publicly traded companies to private businesses in such industries as energy, manufacturing, distribution, business services, staffing, consumer goods, retail, technology and healthcare.

John T. McNabb, II, chairman, director and a founder of Growth Capital Partners, joins Duff & Phelps as vice chairman of the Investment Banking practice. McNabb commented, “The entire Growth Capital Partners team looks forward to combining our talents, skills and relationships with an internationally recognized firm that offers a comprehensive spectrum of deal-related and financial advisory capabilities. These synergies will naturally entrench Duff & Phelps’ investment banking franchise in Texas, where so many entrepreneurs will benefit from our new team’s formidable understanding of the middle market.”

David W. Sargent, CEO, president, director and a founder of Growth Capital Partners, joins Duff & Phelps to lead the firm’s investment banking activity in the Southwest. Commenting on the acquisition, Sargent added, “Like Duff & Phelps, Growth Capital Partners focuses on the importance of relationships and the execution of optimal outcomes for our clients. By combining shared philosophies with our regional presence and strong network of contacts in key industries, Duff & Phelps is better positioned to take advantage of growth opportunities throughout the Southwest and beyond.”

About Duff & Phelps
As a leading global provider of financial advisory and investment banking services, Duff & Phelps balances analytical skills, deep market insight and independence to help clients make sound decisions. The firm provides expertise in the areas of valuation, transactions, financial restructuring, alternative assets, disputes and taxation, with more than 1,000 employees serving clients from offices in North America, Europe and Asia. Investment banking services in the United States are provided by Duff & Phelps Securities, LLC. Investment banking services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd. Duff & Phelps Securities Ltd. is authorized and regulated by the Financial Services Authority. Investment banking services in France are provided by Duff & Phelps SAS. For more information, visit www.duffandphelps.com. (NYSE: DUF)

About Growth Capital Partners
Growth Capital Partners is an investment banking firm that provides financial advisory services to both private and public middle-market companies. Since its inception in 1992, GCP has completed in excess of 250 transactions, raised more than $1 billion of institutional capital (through private placements of equity, subordinated, and senior debt), and completed M&A transactions with an aggregate value in excess of $4 billion. Investment banking services are provided by GCP Securities, Inc.
Jun 30,
2011

Dahlman Rose Names New Executive Managers
06.30.11

Dahlman Rose Names New Executive Managers

Dahlman Rose & Company Announces New Management Appointments

NEW YORK, June 30, 2011 /PRNewswire/ — Dahlman Rose & Company, LLC, a leading investment bank specializing in natural resources, transportation, and other industries in the global commodities supply chain, announced today that its co-founder, President and Chief Executive Officer, Simon Rose, has elected to retire.  The Dahlman Rose Board of Directors has appointed its Chairman, Kim Fennebresque, Chief Executive Officer. Donald Motschwiller has been named President.

Mr. Rose, stated, “I have been incredibly proud to lead this firm since inception and am excited about the bright future ahead.  It was my hope when I asked Kim to join our firm as Chairman that he would assume a senior leadership role, and this appointment realizes that goal.”

Mr. Fennebresque, who joined Dahlman Rose in 2010, most recently served as Chairman and Chief Executive Officer of Cowen Group, Inc.  Previously, he was with UBS where he served as head of corporate finance and mergers & acquisitions.  Prior to that Mr. Fennebresque served as General Partner and Co-Head of Investment Banking at Lazard Freres & Co.  In June 2009, Mr. Fennebresque was designated by the US Department of the Treasury to serve on the Board of Ally Financial (formerly GMAC).

Mr. Motschwiller joined Dahlman Rose in early 2011.  Most recently, Mr. Motschwiller served as Co-President and Managing Partner of First New York Securities LLC and was the CEO and President of EFX Capital / Prime Services.  Previously, he was an owner and principal of Carlin Financial Group.

Mr. Rose stated, “Since joining us Donald has quickly earned a position of leadership within our firm.  He brings a long career of successful business building that will benefit Dahlman Rose as we continue to grow for years to come.”

Founded in 2004, Dahlman Rose has expanded rapidly to offer full-service investment banking advisory and underwriting services across thirty industry sub-sectors.  Mr. Fennebresque commented, “I am very pleased to have the opportunity to lead this fine firm.  Dahlman Rose has achieved extraordinary success in a relatively brief period, and I look forward to expanding on that record.  I am also very grateful that Simon will remain a major shareholder and an active member of our Board.”

Remarked Donald Motschwiller, “Looking toward the future, Dahlman Rose is poised to become the premier independent advisor to companies within the global natural resources supply chain. Our depth of talent and knowledge is unparalleled. This is an exciting time and we look forward to leading Dahlman Rose as it expands its platform.”

About Dahlman Rose & Co., LLC

Dahlman Rose & Co., LLC (MEMBER: FINRA/SIPC) is a research-driven investment bank focused on energy, transportation, infrastructure, and other industries that compose the global supply chain. The firm’s industry-leading analysts, bankers, and traders offer unique insight into the companies and markets that provide the building blocks of the global economy. Dahlman Rose is headquartered in New York and has offices in Boston and Houston. Dahlman Rose provides institutional sales and trading, equity and fixed income research, mergers and acquisitions advisory, and underwriting services. For more information regarding Dahlman Rose, please visit www.drco.com.
Jun 14,
2011

NYSE Technologies Selects UNX Catalyst For Its Capital Markets Community Platform
06.14.11

NYSE Technologies Selects UNX Catalyst For Its Capital Markets Community Platform

NYSE Technologies Selects UNX Catalyst to Provide Desktop Access to its Capital Markets Community Platform’s Services

Through the collaboration, UNX becomes first third-party partner to offer a service on NYSE Technologies Capital Markets Community Platform

NEW YORK, NY (June 14, 2011): NYSE Technologies, the commercial technology unit of NYSE Euronext, and UNX, an innovative trading technology provider (www.unx.com), are collaborating to deliver customizable technology, content and services to the global trading community that utilize the power and flexibility of the NYSE Technologies Capital Markets Community Platform. Through this collaboration, UNX becomes the first third-party provider to offer a service on the Community Platform’s cloud infrastructure and helps accelerate NYSE Technologies’ vision to empower customers by simplifying global market access and reducing trading friction.

Through its Community Platform, NYSE Technologies will distribute UNX’s broker-neutral, open-technology front-end, Catalyst to deliver data and services from the NYSE Technologies’ product portfolio to financial services firms. In addition, Catalyst’s Software Development Kit and APIs will also enable broker-dealers, third-party vendors, and other institutional trading participants to rapidly develop applications for use in Catalyst.

Services offered from inside the cloud and delivered through Catalyst would include global market data, trade analytics, order and execution information tools, indications of interest (IOI), advertised trades (AT), and other data services, including trade and quote (TAQ) data, market imbalances and regulatory alerts.

“NYSE Technologies is focused on providing the industry’s most secure, reliable infrastructure connecting the capital markets community to high-performance electronic trading applications worldwide. To create this virtual capital markets community, we are working with UNX to provide the framework for unified delivery and access to trading and data services, transaction destinations and market participants,” explains Stanley Young, CEO of NYSE Technologies.

“Catalyst’s open, fully extensible container will make it possible for industry professionals to easily integrate a wide variety of trading tools that leverage our expertise in markets, connectivity, infrastructure and technology. Our goal here is to empower financial firms to innovate and capitalize on market opportunities,” he adds.

UNX CEO Thomas Kim comments that the collaboration aligns with UNX’s unique value proposition of an open platform into which the buy side, vendors, brokers and exchanges can build their own trading functionalities and extend services to a broader client base.

“This partnership with NYSE Technologies affirms the value of Catalyst, and allows us to jointly build a true global ecosystem of market participants who can access any trading technology from any broker, vendor or exchange from anywhere in the world,” he states.

“Furthermore, we believe the extension of our SDK to the community to create custom plug-ins will drive innovation and ignite competition in the financial markets—just as open platforms have done for the mobile computing industry,” Kim adds.

UNX’s existing clients use the SDK to integrate, update and customize algorithms, portfolio trading and other electronic trading services such as analytics and risk management tools in the Catalyst platform.

About UNX LLC
Founded in 1999, UNX is an independent trading technology firm and agency broker that provides advanced electronic trading technology for the institutional trading community through its open-architecture platform Catalyst®. A broker-neutral offering, Catalyst streamlines multi-broker trading workflow and serves as an efficient delivery mechanism for broker-dealers and third-party vendors to distribute and update their offerings to clients. UNX has offices in New York and Los Angeles.

About NYSE Technologies
A division of NYSE Euronext (NYX), NYSE Technologies provides broadly accessible, comprehensive connectivity and transaction capabilities, data and infrastructure services, and managed solutions for a range of customers requiring next-generation performance and expertise for mission critical and value-added trading services. NYSE Technologies offers a diverse array of products, services and solutions to: the Buy Side, including order routing, liquidity discovery and access to a community of over 630 Broker-Dealers and execution destinations globally; the Sell Side, including high performance, end-to-end messaging software and innovative market data products delivered on the world’s largest, most reliable financial transaction network; and Market Venues and Exchanges, including multi-asset exchange platform services, managed services and expert consultancy. With offices across the U.S., Europe, and Asia, NYSE Technologies offers advanced integrated solutions for the global capital markets community, earning the ability to power trading operations for many of the world’s best financial institutions and exchanges. For additional information visit: www.nyse.com/technologies.

©2011 UNX LLC Member FINRA/SIPC. All rights reserved. UNX and Catalyst are registered trademarks of UNX LLC
Mar 31,
2011

ALPS Advisors Listed As Fastest Growing Fund Company In US
03.31.11

ALPS Advisors Listed As Fastest Growing Fund Company In US

ALPS ADVISORS TOPS INVESTMENTNEWS LIST OF FASTEST GROWING FUND COMPANIES

Special Report Shows Denver-Based Firm Set The Pace For Asset Gathering Efforts In 2010

Denver — March 31, 2011 – ALPS Advisors, Inc. (ALPS), a leading provider of advisory solutions to the financial services industry, is the industry’s fastest growing mutual fund company according to a report in the March 27 edition of InvestmentNews, the number one source of news to the financial adviser community.

The report—“Fastest growing firms? Not your father’s fund company”—ranked the top 50 firms with more than $100 million in net assets by their percentage increase in 2010. Based on open-end and exchange-traded funds at year end, ALPS Advisors topped the list with a 391.0% year-over-year gain.Assets for the firm, which just last month launched the ALPS | Kotak India Growth Fund, jumped from $ 348.7 million at the end of 2009 to $ 1,712.2 million as of December 31, 2010. The data were compiled for InvestmentNews by Lipper Inc.

“Our primary strategy has been to fill niche investment segments with distinctive and well-managed investment solutions,” said Tom Carter, President of ALPS Advisors, Inc. “That we’ve enjoyed such powerful inflows across such a tough marketplace tells me our approach is resonating with financial advisers and their clients.”

Over the last 18 months, the firm beefed up its boutique investment lineup with the addition of the Wellington Management sub-advised ALPS | WMC Value Intersection Fund, the Clough China Fund, the Jefferies Commodity Strategy Allocation Fund, and the RiverFront Global Allocation Series Funds.

Today, in addition to master limited partnerships, private equity, and commodities, the ALPS Advisors lineup includes 17 open-end mutual funds, closed-end mutual funds, and exchange- traded funds.

“Smart advisors are well past the ‘set-it-and-forget-it’ mentality,” says Corey Dillon, Vice President and Director of Institutional Advisory Services for ALPS Advisors, Inc., “and they’re becoming more focused on niche funds and alternative investments.That’s perfectly in line with our vision.”

About ALPS

Headquartered in Denver with offices in Boston, New York, and Seattle, ALPS is a twenty five year old financial services firm focused on asset services and asset gathering. Now with more than 300 employees, nearly 200 clients, and an executive team that’s been in place for over 15 years, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. As of December 31, 2010, the firm manages more than $2.7 billion in assets and provides servicing to more than $288 billion in client assets.

For more information about ALPS and the services available, visit www.alpsinc.com, and for additional information about ALPS products, visit www.alpsfunds.com.
Mar 09,
2011

Blackstone Group And Dahlman Rose To Cooperate On Restructuring Services For Maritime Sector
03.09.11

Blackstone Group And Dahlman Rose To Cooperate On Restructuring Services For Maritime Sector

Blackstone and Dahlman Rose & Co. Sign Agreement to Cooperate on Restructuring Services for Maritime Sector

NEW YORK — March 9, 2011 – The Blackstone Group (NYSE: BX) and Dahlman Rose & Co. announced today an agreement to jointly provide financial advisory services to maritime clients seeking to recapitalize or restructure their balance sheets. The agreement encompasses maritime restructuring situations globally and relates to a broad array of potential financial restructuring constituents, including borrowers, secured creditors, lessors, charterers, unsecured and trade creditors and equity participants.

“This new venture combines the world-class restructuring experience of Blackstone with the dominant maritime sector knowledge and global relationships of Dahlman Rose to create the leading advisory group for the maritime industry,” said Flip Huffard, Senior Managing Director at Blackstone.

“Our goal is to expand the portfolio of value-added services and effect innovative solutions for clients during this challenging period in the maritime industry,” added Mark J. Schulte, Global Head of Transportation Investment Banking at Dahlman Rose.

The cooperative effort will be staffed with senior professionals from each organization and will begin offering its services immediately.

About Blackstone Group
Blackstone (NYSE: BX) is one of the world’s leading investment and advisory firms and is a leading advisor to companies and creditors in situations involving the recapitalization or restructuring of balance sheet liabilities. Blackstone’s restructuring professionals have global reach with offices in New York, London and Sao Paolo. Blackstone seeks to create positive economic impact and long-term value for the companies and creditors it advises, its investors and the companies it invests in and the broader global economy. The firm accomplishes this through the commitment of its extraordinary people and flexible capital. The Blackstone Group provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Blackstone’s alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented fund and closed-end mutual funds. Further information is available at www.blackstone.com.

About Dahlman Rose & Co.
Dahlman Rose & Company, LLC (MEMBER: FINRA/SIPC) is a research-driven investment bank focused on industries that compose the global supply chain, including transportation, infrastructure, metals & mining and energy. The firm’s industry-leading analysts, bankers, salesmen and traders consistently offer unique insights into the companies and markets that provide the building blocks of the global economy. Headquartered in New York, with offices in Boston and Houston, Dahlman Rose is a full service firm providing capital markets services and M&A advice; institutional sales and trading and equity/fixed income research. Further information is available at www.dahlmanrose.com.
Jan 05,
2011

Matthews International Capital Management Announces Lovell Minnick Partners As New Equity Holder
01.05.11

Matthews International Capital Management Announces Lovell Minnick Partners As New Equity Holder

Matthews International Capital Management Announces Lovell Minnick Partners as New Equity Holder

SAN FRANCISCO, CA — January 5, 2011 – Matthews International Capital Management, LLC (“Matthews”), the largest dedicated Asia investment specialist in the United States, announced the addition of Lovell Minnick Partners LLC (“Lovell Minnick”) as a minority equity holder. With the endorsement of Matthews, Lovell Minnick private equity partnerships acquired a minority ownership interest previously held by another investor.

“We are pleased to have Lovell Minnick as an equity holder and to add Jeffrey Lovell to the Matthews’ Board of Directors. Lovell Minnick has considerable knowledge and experience working with investment management firms so their addition as an equity holder is a welcome development,” stated Mark Headley, Chairman of Matthews. “Lovell Minnick’s history as a patient, value-added investor is consistent with our own philosophy as investors and operators.”

“The Matthews team has built an exceptional investment management firm with a focused approach, outstanding long-term track record, and differentiated market presence. We fully support the firm’s business approach and continuation of their strategy,” said Jeffrey Lovell, Chairman and Managing Director of Lovell Minnick.

About Matthews International Capital Management, LLC
Matthews is an independent, privately owned investment management firm and the largest dedicated Asia investment specialist in the United States. Founded in 1991, Matthews believes in the long-term growth of Asia and has focused its efforts and expertise within the region, investing through a variety of market environments. Its investment offerings provide a broad range of choices for building a global portfolio that includes exposure to one of the world’s fastest-growing regions. With $19 billion in assets under management as of December 31, 2010, Matthews employs a bottom-up, fundamental investment philosophy, with a focus on long-term investment performance. For more information about Matthews, please visit www.matthewsasia.com.

About Lovell Minnick Partners LLC
Lovell Minnick Partners LLC is a private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling $800 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, securities brokerage and investment banking, financial consulting, and commercial and trust banks. For more information about Lovell Minnick, please visit www.lovellminnick.com.
Jan 04,
2011

John D. Cochran Named Managing Director Of Lovell Minnick Partners
01.04.11

John D. Cochran Named Managing Director Of Lovell Minnick Partners

John D. Cochran Named Managing Director of Lovell Minnick Partners

EL SEGUNDO, California, January 4, 2011 – Lovell Minnick Partners LLC, a private equity firm providing buyout and growth capital to companies in the financial services industry, announces the promotion of John D. Cochran to Managing Director effective January 1, 2011.

As Managing Director, Mr. Cochran, 39, joins the Investment Committee of Lovell Minnick Partners, which has offices in the Los Angeles and Philadelphia areas and is responsible for managing the firm’s private equity partnerships totaling $800 million. The Lovell Minnick Partners Investment Committee includes Jeffrey D, Lovell, Chairman; James E. Minnick, President; Jennings (Jay) Newcom, General Counsel and Managing Director; and Managing Directors Robert M. Belke, Spencer P. Hoffman and Mr. Cochran.

Mr. Cochran has led the due diligence and analysis in several Lovell Minnick investments and has worked closely with a number of the firm’s portfolio companies. Prior to joining the firm, Mr. Cochran was a Principal at SV Investment Partners (formerly Schroder Ventures US.) Earlier in his career, Mr. Cochran worked at J.W. Childs Associates, a middle market private equity firm with over $3 billion of assets under management, and at Salomon Brothers Inc in the Mergers and Acquisitions Group.

“Since joining us in 2008, John has delivered valuable advice to our portfolio companies and has become an integral member of our management team,” said Jeffrey Lovell. “John’s promotion to Managing Director is well-deserved.”

Mr. Cochran is a member of the Board of Directors of Lovell Minnick portfolio companies Mercer Advisors and Seaside National Bank & Trust and its holding company, Three Shores Bancorporation. Mr. Cochran received an MBA and a Masters degree in Manufacturing Systems Engineering from Stanford University and holds a BA in English from the University of California, Los Angeles.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is a management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling $800 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, investment banking and securities brokerage, commercial and trust banking, and financial consulting. For more information regarding Lovell Minnick Partners visit www.lovellminnick.com.
Dec 03,
2010

PlanMember Financial Corporation Acquires Scarborough Alliance Group
12.03.10

PlanMember Financial Corporation Acquires Scarborough Alliance Group

PlanMember Financial Corporation Acquires Scarborough Alliance Group

December 3, 2010 – PlanMember Financial Corporation, headquartered in Carpinteria, California, is pleased to announce the recent acquisition of Scarborough Alliance Group. Located in Irvington, New York, Scarborough is a financial services, administration and investment firm that provides retirement education and investment services to local unions of the International Brotherhood of Electrical Workers (IBEW) and other affinity groups. Scarborough has been working with IBEW local union members since 1974 and has been in the plan administration business since 1970. Scarborough currently manages $600 million in pension and savings plan assets and serves IBEW members in 47 states.

Jon Ziehl, PlanMember’s founder and CEO said, “The acquisition of Scarborough Alliance Group provides a unique opportunity for PlanMember to expand the growing number of employer and affinity groups nationwide that have chosen PlanMember to be a preferred retirement plan provider for their employees. As a result, PlanMember’s Programs are a natural fit for IBEW members to help meet and exceed their retirement goals and ensure success in their retirement years.”

Denis Cardone, President of Scarborough commented, “For nearly four decades Scarborough has had one basic mission: to help IBEW members enjoy a financially comfortable retirement. PlanMember brings the infrastructure, investment, marketing, distribution and customer service support necessary to continue to serve our IBEW local union members with high quality retirement solutions on a national basis.”

PlanMember Financial Corporation has been an industry leading financial services and retirement planning firm serving the public education and non-profit sectors for over two decades. Currently the company is an approved retirement plan provider for 2,300 organizations nationwide, supports 400 registered representatives, and serves as broker/dealer for over 100,000 customer accounts totaling approximately $4 billion in assets.

Known for providing superior service and support to advisors and their clients through high-quality investment advisory programs, PlanMember delivers personalized retirement planning services and a broad selection of investment solutions to employer groups and membership organizations.

For more information about PlanMember Financial Corporation and the acquisition of Scarborough Alliance Group, contact Richard Ford at (800) 874-6910, ext. 2400 or visit www.planmember.com.
Aug 10,
2010

Dahlman Rose & Company Announces Strategic Investment By Lovell Minnick Partners
08.10.10

Dahlman Rose & Company Announces Strategic Investment By Lovell Minnick Partners

Dahlman Rose & Company Announces Strategic Investment by Lovell Minnick Partners

NEW YORK — August 10, 2010 – Dahlman Rose & Company, LLC, a leading investment bank specializing in natural resources, transportation, and other industries in the global supply chain, announced today that it has, subject to regulatory approval, entered into a definitive agreement to receive a $40 million minority investment from Lovell Minnick Partners LLC, a private equity firm that specializes in the global financial services industry. Dahlman Rose plans to use the proceeds for further expansion of its investment banking, research and institutional sales and trading platforms.

Lovell Minnick will finance the investment from the Lovell Minnick Equity Partners III fund. As part of the agreement, the firm will appoint two representatives to Dahlman Rose’s Board of Managers.

Lovell Minnick Managing Director Spencer Hoffman commented: “Dahlman Rose is the recognized thought leader in its focus sectors. The Company offers a clearly differentiated suite of investment banking, advisory and trading services that meet the growing needs of its corporate and institutional clients. We are very optimistic about this partnership and the Company’s compelling growth prospects.”

Simon Rose, Chief Executive Officer of Dahlman Rose stated: “In addition to growth capital, this agreement brings to Dahlman Rose the seasoned perspective of the premier investor in innovative financial services businesses. We welcome this partnership as an important component of Dahlman Rose’s aggressive growth strategy.”

Rose added: “Since commencing business in 2004, Dahlman Rose has expanded dramatically, and we have assembled world-class banking, sales and trading, research and management teams. Given the strong long-term prospects of the industries we serve and the unique value of the business we created, we expect Dahlman Rose’s steep growth trajectory to continue in the years ahead. With Lovell Minnick as a partner, we will continue to pursue organic growth and strategic acquisitions, as appropriate.”

JMP Securities represented Dahlman Rose & Co. in this transaction.

About Dahlman Rose & Company
Dahlman Rose & Company, LLC (MEMBER: FINRA/SIPC) is a research-driven investment bank focused on transportation, infrastructure, and industries that compose the global supply chain. The firm’s industry-leading analysts, bankers, and traders offer unique insight into the companies and markets that provide the building blocks of the global economy. Dahlman Rose’s sector specialties include marine shipping, surface freight transportation, air transportation, petroleum exploration and production, and related offshore and oilfield services, metals and mining, coal mining, agriculture and chemicals, and independent power producers. Dahlman Rose is headquartered in New York and has offices in Boston, Houston, and San Francisco. Dahlman Rose provides institutional sales and trading, equity and fixed income research, mergers and acquisitions advisory, and underwriting services. For more information regarding Dahlman Rose, please visit www.dahlmanrose.com.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is a management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in Los Angeles and Philadelphia, Lovell Minnick manages private equity partnerships totaling $800 million on behalf of qualified private and institutional investors. For more information regarding Lovell Minnick Partners and its portfolio companies, please visit www.lovellminnick.com.
Apr 26,
2010

Alan Warrick Joins Lovell Minnick Partners As Senior Advisor
04.26.10

Alan Warrick Joins Lovell Minnick Partners As Senior Advisor

Alan Warrick joins Lovell Minnick Partners as Senior Advisor

EL SEGUNDO, California, April 26, 2010 – Alan F. Warrick has joined Lovell Minnick Partners LLC, an independent private equity firm providing buyout and growth capital to companies in the financial services industry, as a Senior Advisor.

As Senior Advisor, Mr. Warrick will assist and advise Lovell Minnick’s investment professionals in deal sourcing, due diligence and evaluation, with specific focus on financial product distribution strategies. Lovell Minnick Partners anticipates selectively adding other Senior Advisors to join Mr. Warrick in this new effort.

Mr. Warrick joins Lovell Minnick from AEGON, the global life insurance and asset management enterprise, where he spent the past 15 years in a variety of executive roles. Most recently, Mr. Warrick served as a Managing Director for Strategic Business Development in AEGON USA Financial Services Group and prior to that he was the Chief Executive Officer of Transamerica Worksite Marketing (a member of the AEGON Group). During his tenure at AEGON, Mr. Warrick was responsible for establishing distribution relationships with major national and regional securities brokerage firms, the introduction of AEGON’s insurance products in the Chinese market, and the expansion of AEGON’s voluntary employee benefit programs to major mid-market and fortune 500 companies, amongst other things. Earlier in his career, Mr. Warrick held various executive positions at Merrill Lynch. Mr. Warrick holds a BA in economics from the University of Arkansas.

“Alan’s extensive financial services background along with his expertise in financial product distribution will provide Lovell Minnick with valuable industry insights as we seek investments for our new fund.” said Jeffrey D. Lovell, Chairman and Managing Director of Lovell Minnick Partners.

Alan Warrick noted, “I have known the Lovell Minnick principals for many years and have observed their superb investment performance and their industry specialization. I look forward to working alongside them during this interesting time for financial services firms.”

Lovell Minnick Partners is currently investing Lovell Minnick Equity Partners III LP which held its final closing in January. This $455 million partnership is focused on investments in the North American market in various financial segments, including asset management, financial planning, financial product distribution, specialty finance, securities brokerage, banking, outsourcing providers and related companies specializing in administration and business services.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is an independent, management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling over $800 million on behalf of qualified private and institutional investors. For more information regarding Lovell Minnick Partners and its portfolio companies, please visit www.lovellminnick.com.
Feb 02,
2010

Lovell Minnick Equity Partners III LP Tops $450 Million At Final Closing
02.02.10

Lovell Minnick Equity Partners III LP Tops $450 Million At Final Closing

Lovell Minnick Equity Partners III LP Tops $450 Million at Final Closing

EL SEGUNDO, California, February 2, 2010 – Lovell Minnick Partners LLC, a private equity firm providing buyout and growth capital to companies in the financial services industry, is pleased to announce the final closing of Lovell Minnick Equity Partners III LP. The fund surpassed its $350 million target by successfully raising $455 million from institutional and private investors. The fund focuses on middle market investments in the financial services sector including asset management, financial product distribution, outsourced administration services, investment banking and securities brokerage, commercial and trust banking, and related business services. The investment of the fund is managed by the Lovell Minnick Partners’ team operating from offices in California and Pennsylvania.

Returning limited partners were led by commitments from PPM America Capital Partners, HighVista Strategies, INVESCO Private Equity and WP Global Partners. A broad range of institutional investors came on board as new limited partners for the fund, including: Credit Suisse Customized Fund Investment Group, Kemnay Private Equity, Nationwide Mutual Insurance Company, Private Advisors, RCP Advisors, Twin Bridge Capital Partners and Washington University of St. Louis.

Credit Suisse Securities (USA) LLC acted as Lovell Minnick Partners’ exclusive placement agent for the fundraising and Kirkland & Ellis LLP served as its legal advisor.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is an independent, management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling over $800 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, investment banking and securities brokerage, commercial and trust banking, and related business services. For more information regarding Lovell Minnick Partners and its portfolio companies, please visit www.lovellminnick.com

Inquiries can be directed to Jeff Lovell at (310) 414-6160 or Jim Minnick at (610) 995-9660.
Jan 12,
2010

Lovell Minnick Partners Promotes Spencer Hoffman To Managing Director
01.12.10

Lovell Minnick Partners Promotes Spencer Hoffman To Managing Director

Lovell Minnick Partners Promotes Spencer Hoffman to Managing Director

RADNOR, Pennsylvania, January 12, 2010 – Lovell Minnick Partners LLC, an independent private equity firm providing buyout and growth capital to companies in the financial services industry, is pleased to announce the promotion of Spencer P. Hoffman to Managing Director effective January 1, 2010.

As Managing Director, Mr. Hoffman, 36, serves on the Investment Committee of Lovell Minnick Partners, which has offices in the Los Angeles and Philadelphia areas and is responsible for managing the firm’s private equity partnerships totaling over $750 million. The Lovell Minnick Partners Investment Committee includes Jeffrey D, Lovell, Chairman and Managing Director; James E. Minnick, President and Managing Director; Jennings (Jay) Newcom, General Counsel and Managing Director; Robert M. Belke, Managing Director; and Mr. Hoffman.

Mr. Hoffman has led the due diligence and analysis in several Lovell Minnick investments and has worked closely with a number of the firm’s portfolio companies. Prior to joining the company, Mr. Hoffman was a Principal at Safeguard Scientifics and before that he served as an Associate with Mellon Ventures. Mr. Hoffman started his career in Merrill Lynch’s Global Investment Banking Group.

“Spencer is a highly valued member of our team and his promotion to Managing Director is well-deserved,” said James Minnick. “Spencer has added significant value to our firm and to our portfolio companies since he joined us in early 2007.”

Mr. Hoffman is a member of the Board of Directors of Lovell Minnick portfolio companies ALPS Holdings Inc and Leerink Swann Holdings LLC. He received his MBA from the Wharton School of Business and has a Bachelor of Arts from Brown University. Mr. Hoffman also is the incoming Co-President of Wharton Private Equity Partners, an organization for Wharton and University of Pennsylvania alumni working in the private equity, private debt, and venture capital industries.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is an independent management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling over $750 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, investment banking and securities brokerage, commercial and trust banking, and financial consulting. For more information regarding Lovell Minnick Partners visit www.lovellminnick.com.
Nov 30,
2009

Lovell Minnick Partners Announces Investment In Seaside National Bank & Trust
11.30.09

Lovell Minnick Partners Announces Investment In Seaside National Bank & Trust

Lovell Minnick Partners Announces Investment in Seaside National Bank & Trust

EL SEGUNDO, California, November 30, 2009 – Lovell Minnick Partners is pleased to announce a $15 million investment in Seaside National Bank & Trust through the bank’s holding company, Three Shores Bancorporation. The investment will be made with funds from Lovell Minnick Equity Partners II.

Lovell Minnick Managing Director Bob Belke commented, “We believe that Seaside, with its client-service emphasis and strong leadership team, is well positioned to serve the high-net-worth market in Florida. We look forward to partnering with the Seaside team to further develop its wealth management business.”

Lovell Minnick invested alongside Parthenon Capital, Continental Investors and existing shareholders to contribute a total of $40 million to support Seaside’s continued growth. In connection with its investment, Lovell Minnick will receive a board seat at both Seaside and Three Shores. The agreement allows Lovell Minnick to make future investments in Seaside to continue to grow the bank’s footprint.

“At a time when access to capital is extremely tight and most banks are struggling to complete adequate capital raises, we are pleased to receive funds from such distinguished private equity firms and local individual investors,” said Gideon Haymaker, President and Chief Executive Officer of Seaside. “This is a tremendous vote of confidence in our bank, business plan, management team and all of our Seaside employees.”

With thirteen offices throughout Florida, Seaside has total assets of $830 million and $140 million of assets under advisement. The $40 million investment will be used to enhance the Bank’s already significant capital strength while continuing to support its growth strategy of expanding into Florida’s major metropolitan markets and further development as Florida’s premier private bank.

Since its inception in 2006, Seaside has demonstrated outstanding underwriting discipline. “Having completed extensive due diligence, we were attracted to the soundness of Seaside’s credit philosophy and its history of performance,” said Lovell Minnick Principal John Cochran, who added, “While Seaside is unique in its innovative approach to integrated banking and wealth management services, it remains rooted in tried-and-true underwriting principles.”

“We continue to be excited and extremely optimistic about our future,” said Tom Yochum, Chairman of the Board for Seaside. “We’ve developed a solid business plan, have consistently executed on the plan, even in a historically difficult economic environment, and have hired the best bankers in Florida. It’s great to see all of the elements of our plan come together.”

About Seaside National Bank & Trust
Seaside is a nationally-chartered commercial bank headquartered in Orlando, Florida with trust powers. Seaside’s thirteen offices throughout Central Florida, South Florida, Sarasota, Tampa and North Florida have a total of $830 million in assets and an additional $140 million of assets under advisement. Seaside offers its clients a complete array of wealth management, commercial and private banking financial solutions.. For more information regarding Seaside visit www.seasidebank.com.

About Lovell Minnick Partners
Lovell Minnick Partners is an independent investment firm which provides buyout and growth capital to developing companies in the global financial services industry. From offices in Los Angeles and Philadelphia, Lovell Minnick manages partnerships totaling over $750 million for qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of financial services including asset management, financial product distribution, securities brokerage, financial outsourcing services, and commercial and trust banks. For more information regarding Lovell Minnick Partners visit www.LovellMinnick.com.
May 15,
2008

ALPS Expands Hedge Fund Services With Acquisition Of Price Meadows
05.15.08

ALPS Expands Hedge Fund Services With Acquisition Of Price Meadows

Alps Acquires Hedge Fund Leader Price Meadows

 

DENVER, — ALPS Fund Services, Inc. today announced it has acquired the assets of Price Meadows Incorporated, a hedge fund administrator based in Bellevue, Washington, with more than $6 billion in assets under administration. The new combined business, ALPS Price Meadows®, will operate as a division of ALPS Fund Services, Inc.

Price Meadows was founded in 1987 by two former hedge fund managers, Kelley Price, Co-founder and CEO, and Rick Meadows, Co-Founder and President. They will stay on in day-to-day management of the new company, joined by Paul Garvey, ALPS’ Director of Alternative Investment Services. Garvey joined ALPS in 2007, bringing with him 17 years of experience in the industry including senior management positions with BISYS Hedge Fund Services and Investors Bank & Trust.

Price Meadows administers a wide variety of hedge funds, funds-of-funds, private equity and other funds, both domestic and off shore. The company has had experience in nearly every facet of hedge fund operations, including starting hedge funds, structuring and organizing new funds, portfolio investment management and, of course, partnership accounting.

“Like ALPS, Price Meadows is committed to providing excellent client service,” said Ned Burke, President of ALPS. “ALPS Price Meadows combines the strengths of both firms to create a top-tier service provider to the alternative investment industry.”

ALPS Fund Services currently offers a comprehensive package of alternative investment services including fund inception consultation, fund administration and accounting, shareholder servicing and tax services.

“ALPS’ robust control structure and leading technology platform will greatly enhance our ability to service a wider variety of clients and the needs of more institutional funds,” said Kelley Price.

ALPS Price Meadows will service clients from offices in Bellevue, Denver and Boston with future plans to expand in the Cayman Islands and Europe.

About ALPS Fund Services, Inc.™

ALPS Fund Services, Inc. is a Denver-based outsourcing solution for administration, compliance, creative services, fund accounting, legal, marketing, tax administration, transfer agency and shareholder services for open end, closed-end, alternative investment and exchange-traded funds. ALPS has approximately $32 billion in client investment fund assets under administration. ALPS Distributors, Inc. provides distribution services to over $240 billion in client assets. For more information, visit www.alpsinc.com.

ALPS is a registered trademark or trademark of ALPS Fund Services, Inc.™ in the United States and other countries. All other brand names, product names or trademarks belong to their respective holders.

About Price Meadows
Price Meadows Incorporated (www.pricemeadows.com) was founded by two former hedge fund managers in 1987. Having roots in the hedge fund industry going back 25 years, the firm has thrived by presenting “needs based” solutions – based on needs observed as former managers and investors in hedge funds and funds-of funds. The firm administers a wide variety of hedge funds, funds-of-funds, private equity and other funds, both domestic and offshore. Currently, PMI provides administration services to approximately 200 funds spread across 30 states, the British Virgin Islands and the Cayman Islands.
Apr 07,
2008

Mercer Advisors Acquired By Lovell Minnick Equity Partners II LP
04.07.08

Mercer Advisors Acquired By Lovell Minnick Equity Partners II LP

Lovell Minnick Partners Announces the Acquisition of Mercer Advisors Inc.

SCOTTSDALE, April 7, 2008 – Mercer Advisors Inc., a leading provider of financial planning, asset management and practice management consulting services to dental and medical professionals, announced today that it has sold a majority interest to Lovell Minnick Partners. Lovell Minnick Partners is a private equity firm which specializes in the global financial services industry. The senior management team of Mercer Advisors will continue to have a substantial ownership position in the firm. The transaction is expected to close in the second quarter of 2008.

“This transaction will enable Mercer to more aggressively expand its dental market share and provides us the capital necessary to better and more quickly develop our client service offerings and therefore to better service our clients,” stated Imtiaz Manji, CEO of Mercer Advisors.

“We are pleased to have attracted Lovell Minnick as partners who are committed to our growth objectives,” stated Dave Barton, President of Mercer Advisors. “Lovell Minnick has deep industry experience and will offer ongoing strategic advice to Mercer as it expands its national presence of offering a fully integrated service to our dental and medical clients.”

Jeffrey Lovell, Managing Director of Lovell Minnick Partners said, “We’ve been keen observers of Mercer’s development for several years and have enjoyed an ongoing dialogue with the management team. We have been impressed with Mercer’s specialized focus in providing wealth management and business consulting services to dental and medical practitioners. We look forward to partnering with this management team as they continue to build upon their strong platform.”

The company will continue to be led by Imtiaz Manji and Dave Barton, supported by Gene Dongieux, Chief Investment Officer, and Howard Rochestie, Executive Vice President.

Mercer Advisors will continue to be a registered investment advisor providing comprehensive financial planning and asset management services to healthcare professionals. Mercer Advisors will also continue to build and develop its consulting services division specializing in improving the productivity and business value for dental practices as well as assisting dental practitioners with the transition and sale of their businesses.

Mercer was represented by Cambridge International Partners Inc. and Lovell Minnick Partners was advised by Duff & Phelps.

About Mercer Advisors Inc.
Based in Scottsdale, Arizona, Mercer Advisors Inc. provides asset management, financial planning, practice consulting and transition consulting for medical professionals, with dental practitioners being the Company’s core target client. Mercer Advisors actively manages over $3.6 billion of clients’ assets and provides consulting services to over 3,000 dental practitioners from its various satellite offices across the United States. The company has approximately 280 employees. For more information about Mercer Advisors Inc. please visit www.merceradvisors.com.

About Lovell Minnick Partners
Lovell Minnick Partners is an independent investment firm which provides buyout and growth capital to developing companies in the global financial services industry. From offices in Los Angeles and Philadelphia, Lovell Minnick manages partnerships totaling over $350 million for qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of financial services including asset management, financial product distribution, securities brokerage, and financial consulting services. Limited Partners of Lovell Minnick include Aegon U.S.A Inc., Eaton Vance, Invesco, Goldman Sachs, PPM America, and National Bank of Canada. For more information about Lovell Minnick Partners please visit www.LovellMinnick.com.
Sep 28,
2007

Duff & Phelps Completes IPO And Commences Trading Today On NYSE
09.28.07

Duff & Phelps Completes IPO And Commences Trading Today On NYSE

Duff & Phelps Commences Trading Today on New York Stock Exchange

NEW YORK, NY – Sep 28, 2007 – Duff & Phelps Corporation (NYSE: DUF), a leading independent financial advisory and investment banking firm, today announced the commencement of trading of its Class A common stock on the New York Stock Exchange under the ticker symbol “DUF”. The company raised approximately $132,800,000 through its initial public offering, which consisted of 8,300,000 shares of Class A common stock priced at $16 per share.

Noah Gottdiener, Chairman and Chief Executive Officer, said, “We are delighted to celebrate this milestone in the continued evolution of Duff & Phelps, as we embark upon the next phase of our development. Our commitment to creating value for our new shareholders is rooted in our corporate mission: protecting, recovering and maximizing value for our clients. Our key strengths – independence in offering unbiased advice on highly technical value assessment issues, a strong brand name and global scale – position us for unique growth opportunities going forward. At the same time, we believe that our broad and well-balanced service offerings, as well as our diversified client base, provide us with stability across economic cycles.”

Gerry Creagh, President, said, “The success of our franchise is due to the quality of our professionals and the strength of our relationships with our global client base. We look forward to deploying the capital we have raised towards building the future of our company. As we move forward to realize our potential, we extend our thanks and appreciation to our employees and clients across the globe, as well as a warm welcome to our new shareholders.”

Recently, Duff & Phelps disclosed the formation of a strategic alliance with Shinsei Bank that the company expects will facilitate the expansion of its business throughout Japan and Asia. As part of this alliance, Shinsei Bank has acquired an approximately 10% minority equity stake in Duff & Phelps.

The listing requirements of the New York Stock Exchange require that Duff & Phelps Corporation disclose that additional information is available upon which the New York Stock Exchange relied to list the company, and is included in Duff & Phelps Corporation’s listing application. Such information is available to the public upon request.

About Duff & Phelps
Duff & Phelps, LLC is a leading provider of independent financial advisory and investment banking services, supporting client needs principally in the areas of valuation, mergers and acquisitions, financial restructurings and disputes. The Company’s services focus on the provision of independent advice on issues involving highly technical and complex assessments of value, and include financial reporting and tax valuation, specialty tax, real estate and fixed asset services, transaction advisory services, restructuring advisory, fairness and solvency opinions, and dispute and legal management consulting. Investment banking services are provided by Duff & Phelps Securities, LLC, an NASD registered broker-dealer. With more than 800 employees serving clients worldwide through offices in 21 cities in the United States, Europe and Asia, Duff & Phelps is committed to delivering insightful advice and service of exceptional quality, integrity and objectivity.

Forward Looking and Cautionary Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results. Forward-looking statements involve a number of assumptions, risks, and uncertainties, any of which may cause actual results to differ materially from the anticipated, estimated or projected results referenced in forward-looking statements. In particular, the forward-looking statements of Duff & Phelps Corporation and its subsidiaries are subject to the following risks and uncertainties: changes in political, economic, or industry conditions; the impact of legislative and regulatory actions, including without limitation, actions by the Securities and Exchange Commission; and terrorist activities and international hostilities, which may affect the general economy. We assume no obligation to update or supplement our forward-looking statements.

Investor Relations:
Breanna Downes
(212) 871-7700
breanna.downesIR@duffandphelps.com

Media Contact:
Sherri Saltzman
(973) 775-8329
Sherri.Saltzman@duffandphelps.com
Jul 23,
2007

Leerink Swann Receives Commitment For Investments From Lovell Minnick Partners And The March Group
07.23.07

Leerink Swann Receives Commitment For Investments From Lovell Minnick Partners And The March Group

Leerink Swann Receives Commitment for Investments from Lovell Minnick Partners and the March Group

Boston, MA – July 23, 2007 – Leerink Swann, the leading healthcare investment bank, today announced that it has entered into a definitive agreement to receive a $35 million minority investment from Lovell Minnick Partners (“Lovell Minnick”) and the March Group (“March”).

Lovell Minnick, a private equity firm that specializes in the global financial services industry, and March, a firm focused primarily on the pharmaceutical and financial services sectors, will have representatives from each firm join Leerink Swann’s Board of Directors. The transaction is expected to close in the third quarter of this year, pending regulatory and shareholder approvals.

“We are pleased to have Lovell Minnick and March join us as shareholders,” stated Jeffrey A. Leerink, Chairman and CEO of Leerink Swann. “Both firms possess deep industry knowledge and company-building expertise. Their representation will add significant value to our Board of Directors as we accelerate our investment banking and advisory businesses and expand into principal and asset management activities.”

Mr. Leerink continued, “The marketplace continues to acknowledge the value of our business model, as evidenced by the Firm’s record revenue and earnings momentum. This investment capital, applied to our unique business platform, will serve as an additional catalyst for Leerink Swann’s aggressive growth plans.”

Jeffrey D. Lovell, Managing Director of Lovell Minnick Partners said, “Leerink Swann has created a tremendous opportunity to capitalize on its industry leading position in healthcare. The Firm’s knowledge focus, driven by its proprietary MEDACorp network, delivers a sustainable advantage in a highly competitive marketplace. We look forward to supporting them in their efforts.”

Johannes Frey, Chief Operating and Financial Officer of the March Group, continued, “Leerink Swann represents a perfect strategic fit for March. Leerink Swann’s commitment to establishing a world-class investment banking capability geared exclusively toward the healthcare industry ideally positions the Firm to capitalize on one of the largest industries in the global economy.”

Mr. Leerink concluded, “The recognition of Leerink Swann’s differentiated platform by Lovell Minnick and March further enhances our position as the leading healthcare investment bank.”

About Leerink Swann & Company
Leerink Swann is a healthcare-focused investment banking firm that provides equity research, corporate finance, asset management, and strategic advisory services for institutional, life sciences, and high net worth clients. For the past six years, Institutional Investor has named Leerink Swann “Best of the Boutiques” in Healthcare. Through its MEDACorp division, Leerink Swann provides biomedical-consulting services to the institutional investment community. With an internal team of experts and a dedicated external network of academic and community-based healthcare professionals, MEDACorp assesses the viability of cutting-edge medical technologies, thus giving decision makers the information they need to perform. Leerink Swann is a member NASD/SIPC. For more information, visit www.leerink.com.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is an independent private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling over $350 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, securities brokerage, and financial consulting. For more information regarding Lovell Minnick Partners, visit www.LovellMinnick.com.

About the March Group
The March Group is a privately owned investment group headquartered in Hamilton, Bermuda. March’s core business is the management of proprietary investments. The predominant part of March’s business portfolio consists of strategic, long-term equity participations in companies operating in March’s preferred industry sectors, pharmaceuticals and finance. March’s portfolio of industry participations is complemented by an endowment-like investment portfolio. For more information regarding March visit www.march-group.com.
Jan 10,
2007

Lovell Minnick Partners Promotes Robert Belke To Managing Director
01.10.07

Lovell Minnick Partners Promotes Robert Belke To Managing Director

Lovell Minnick Partners Promotes Robert Belke to Managing Director

ROLLING HILLS ESTATES, California, January 10, 2007 – Lovell Minnick Partners LLC, an independent, management-controlled private equity firm providing buyout and growth capital to companies in the financial services industry, is pleased to announce the promotion of Robert M. Belke, CFA, to Managing Director from Principal, effective Jan. 1, 2007.

As Managing Director, Mr. Belke, 36, serves on the Investment Committee of Lovell Minnick Partners, which has offices in the Los Angeles and Philadelphia areas and is responsible for managing the firm’s private equity partnerships totaling over $350 million on behalf of qualified private and institutional investors. The Lovell Minnick Partners Investment Committee consists of Jeffrey D. Lovell, Chairman and Managing Director; James E. Minnick, President and Managing Director; Jennings (Jay) Newcom, General Counsel and Managing Director; and Bob Belke.

Mr. Belke has led the due diligence and analysis for investments in several Lovell Minnick portfolio companies, including Duff & Phelps, PlanMember Financial Corp., UNX Holdings, and Westcap Investors. Prior to joining the company in 2000, Mr. Belke was an Associate in the Direct Private Equity Group at TIAA-CREF and before that he served as a Senior Analyst at Wilshire Associates.

“Bob is a highly valued member of our team and his promotion to Managing Director is well-deserved,” said Jeff Lovell. “Bob has been involved with and led the analysis on several of our most successful investments.”

Mr. Belke is a member of the Board of Directors of Lovell Minnick portfolio companies Denali Advisors, Duff & Phelps, PlanMember Financial and UNX. He is a Chartered Financial Analyst, received his MBA with honors in Finance and Accounting from the University of Chicago, and has a Bachelor of Business Administration degree in Finance and Accounting from the University of Wisconsin.

Lovell Minnick Partners recently closed Lovell Minnick Equity Partners II LP with $220 million in commitments. This Fund has now completed four investments totaling over $70 million. This Partnership is focused on investments in the North American market in various financial segments, including asset management, financial planning, financial product distribution, outsourcing providers, specialty finance, and related companies specializing in administration and business services. Limited partners investing in Lovell Minnick Equity Partners II LP include Aegon USA, Eaton Vance, Goldman Sachs, Invesco, National Bank of Canada, and PPM America.

Organized in 2004, Lovell Minnick Partners is the successor to, and continuation of, the private equity business of Putnam Lovell Capital Partners and Putnam Lovell NBF Securities, affiliates of National Bank of Canada. Putnam Lovell Capital Partners was organized in 1999 by Jeff Lovell and Jim Minnick. Lovell Minnick Partners currently employs 10 investment professionals and its funds are currently invested in 13 financial services companies.

About Lovell Minnick Partners
Lovell Minnick Partners LLC is an independent management-controlled private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling over $350 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, securities brokerage, and financial consulting. For more information regarding Lovell Minnick Partners visit www.LovellMinnick.com.
Nov 21,
2006

PlanMember Financial Corporation Receives Investments From Lovell Minnick Partners And Caltius Mezzanine Partners
11.21.06

PlanMember Financial Corporation Receives Investments From Lovell Minnick Partners And Caltius Mezzanine Partners

PlanMember Financial Corporation Receives Investments from Lovell Minnick Partners and Caltius Mezzanine Partners

CARPINTERIA, November 21, 2006 – PlanMember Financial Corporation, a leading financial services marketing and distribution company with over $1 billion in assets under management, today announced that it has entered into a recapitalization transaction with Lovell Minnick Partners and Caltius Mezzanine Partners. Lovell Minnick, a private equity firm that specializes in the global financial services industry, has invested $10 million in equity capital in PlanMember, and Caltius, a Los Angeles-based mezzanine investment firm, has provided $10 million in mezzanine financing.

PlanMember markets a unique proprietary retirement plan advisory program called the PlanMember Services Program that delivers a broad array of retirement plan services to plan sponsors and participants through independent representatives and affinity and membership groups. These services include personalized planning and investment advisory services for individuals as well as complete plan sponsor consulting and administration services for employers and institutional alliance partners. PlanMember is led by CEO and Founder Jon Ziehl, along with COO Terry Janeway and Senior Vice President of Marketing and Product Development Richard Ford.

Mr. Ziehl stated, “We are pleased to have attracted Lovell Minnick and Caltius to our company. With these new partners, we are not only receiving investment capital to complete our recapitalization, but are also aligning ourselves with knowledgeable partners to meet our growth and expansion objectives.” Jeffrey Lovell, Managing Director of Lovell Minnick Partners said, “As investors in financial services companies, we have been impressed with PlanMember’s deep focus on the retirement segment. The company has built a strong platform which can be leveraged for the benefit of its customers, employees, and shareholders.” Michael Kane, Managing Director of Caltius, stated, “We have enjoyed working with Jon and his team throughout this process, and continue to be impressed with the level of talent and experience throughout the PlanMember organization.”

About PlanMember Financial Services
Based in Carpinteria, California, PlanMember Financial Corporation markets, administers and manages retirement plan investment products and services for individuals, employers and institutional alliance partners. PlanMember actively manages over $1 billion of clients’ assets and has over 400 independent sales professionals throughout all 50 states. The company has approximately 80 employees. For more information about PlanMember Financial Corporation please visit www.planmemberfinancialcorporation.com.

About Lovell Minnick Partners
Lovell Minnick Partners is an independent investment firm which provides buyout and growth capital to developing companies in the global financial services industry. From offices in Los Angeles and Philadelphia, Lovell Minnick manages partnerships totaling over $350 million for qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of financial services including asset management, financial product distribution, securities brokerage, and financial consulting services. Limited Partners of Lovell Minnick include Aegon U.S.A Inc., Eaton Vance, Invesco, Goldman Sachs, PPM America, and National Bank of Canada. For more information about Lovell Minnick Partners please visit www.LovellMinnick.com.

About Caltius Mezzanine Partners
Based in Los Angeles, Caltius Mezzanine has been a reliable financial partner to management teams and equity sponsors since 1997, providing capital in amounts of $5 million to $35 million for companies in a broad range of industries to support acquisitions, recapitalizations, buyouts, and organic growth. For more information, please visit www.caltiusmezzanine.com.
Nov 01,
2006

Duff & Phelps Announces Acquisition Of Chanin Capital PartnersRestructuring Business Unit Enhances Service Offering
11.01.06

Duff & Phelps Announces Acquisition Of Chanin Capital PartnersRestructuring Business Unit Enhances Service Offering

Duff & Phelps Announces Acquisition of Chanin Capital Partners Restructuring Business Unit Enhances Service Offering

NEW YORK, November 1, 2006 – Duff & Phelps, one of the world’s leading independent financial advisory firms, announced today that it has acquired Chanin Capital Partners, a specialty investment bank with a leading position advising stakeholders in distressed situations. Terms of the transaction were not disclosed.

Noah Gottdiener, Chief Executive Officer of Duff & Phelps, said “the acquisition of Chanin Capital Partners will enable Duff & Phelps to provide an enhanced service offering with respect to companies, creditors and other stakeholders in financially distressed situations. Chanin is a firm that shares our commitment to providing exceptional client service with the highest level of integrity, independence and professionalism.”

Chanin Capital Partners provides a variety of financial advisory services, including financial restructuring, merger & acquisition advisory, capital raising and fairness and solvency opinions. Founded in 1984, Chanin has principal offices in Los Angeles and New York, with additional presence in Detroit and London.

Gerry Creagh, President of Duff & Phelps, said “the additional scale in these services and the nature of Chanin’s business further diversifies our service portfolio, and reinforces our commitment to protecting, recovering and maximizing value for our clients.”

Skip Victor, Senior Managing Director and co-founder of Chanin, said “my colleagues and I are very excited to be joining a financial advisory services firm with such an outstanding reputation as Duff & Phelps. The people, clients and integrated service offering of Duff & Phelps are an ideal platform to enable us to continue to provide the excellent client service for which we are known in the marketplace.”

Russell Belinsky, Senior Managing Director and co-founder of Chanin, said “Duff & Phelps has an impressive corporate client list, and we believe this transaction will provide us with opportunities to offer our restructuring advisory services to a broader universe of clients through an expanded global platform. Similarly, hedge funds, institutional bondholders, and private equity firms with whom we have strong relationships represent an important growth area for Duff & Phelps.”

Chanin’s financial restructuring business will continue to operate under the Chanin name, as a business unit of Duff & Phelps. Chanin’s investment banking business will operate under Duff & Phelps Securities, LLC, an NASD registered broker-dealer.

Skip Victor, Senior Managing Director and co-founder of Chanin, said “my colleagues and I are very excited to be joining a financial advisory services firm with such an outstanding reputation as Duff & Phelps. The people, clients and integrated service offering of Duff & Phelps are an ideal platform to enable us to continue to provide the excellent client service for which we are known in the marketplace.”

Putnam Lovell NBF served as the exclusive financial advisor to Chanin Capital Partners on this transaction.

About Duff & Phelps, LLC
Duff & Phelps is one of the world’s leading independent financial advisory firms serving client needs in the areas of valuation, investment banking and transaction advice, and dispute consulting. Duff & Phelps is the foremost provider of industry focused, independent and objective valuation insight and advice. Services include financial reporting and tax valuation, transfer pricing, real estate and fixed asset services, merger and acquisition advisory, financial restructurings, fairness and solvency opinions, due diligence and dispute consulting. With more than 800 employees serving clients worldwide through offices in the United States, Europe and Asia, Duff & Phelps is committed to delivering insightful advice and service of exceptional quality, integrity and objectivity. For more information, visit www.duffandphelps.com.

About Chanin Capital Partners
Chanin Capital Partners is a top-ranked specialty investment banking firm that provides financial advisory services, including for Financial Restructurings; Mergers & Acquisitions; Fairness, Valuation and Solvency Opinions; and Capital Raising. With offices in Detroit, London, Los Angeles and New York, Chanin Capital Partners is one of the largest, independent, specialty investment banks providing financial advisory services for the middle market and for distressed transactions. Since 1984, the professionals of Chanin Capital Partners have consummated more than $29 billion in mergers and acquisitions mandates, completed more than $146 billion in financial restructuring transactions, and delivered hundreds of fairness and solvency opinions and valuation reports. For more information, visit www.chanin.com.
Sep 08,
2006

Bank Of America Investment Advisors, Inc. Agrees To Sell Its Liberty All-Star Closed-End Fund Management Business
09.08.06

Bank Of America Investment Advisors, Inc. Agrees To Sell Its Liberty All-Star Closed-End Fund Management Business

Bank of America Investment Advisors, Inc. Agrees to Sell Its Liberty All-Star Closed-End Fund Management Business

Boston, September 8, 2006 – Bank of America Investment Advisors, Inc. (BAIA), the investment advisor to the Liberty All-Star Funds (Funds) today announced that it has entered into an agreement with ALPS Advisers, Inc. (ALPS) to sell to ALPS its advisory business of managing the Funds.

The Funds are a family of two closed-end, NYSE-listed equity funds. They are the Liberty All-Star Equity Fund (NYSE:USA), with net assets in excess of $1.2 billion as of June 30, 2006, and the Liberty All-Star Growth Fund, Inc. (NYSE:ASG), with net assets in excess of $150 million as of June 30, 2006.Further information about the Funds may be found on line at www.all-starfunds.com.

Under terms of the agreement, BAIA’s Liberty All-Star management team is expected to join ALPS to continue managing the funds. The management team is expected to remain in Boston. The completion of the transaction is conditioned upon, among other things, shareholder approval of a new investment advisory agreement with ALPS and new sub-advisory agreements among the funds, ALPS and the various sub-advisers that manage the Funds’ portfolios. The agreements are on substantially the same terms as the investment advisory and sub-advisory agreements that are currently in effect.

The Board of Trustees/Directors of the Funds approved the investment advisory and sub-advisory agreements with ALPS on September 7, 2006. Subject to shareholder approval of the investment advisory agreements referenced above, it is expected that ALPS will become the funds’ investment adviser by year-end 2006.

ALPS will be registered as an investment adviser with the Securities and Exchange Commission prior to consummation of the transaction. ALPS is a subsidiary of ALPS Holdings, Inc. (ALPS Holdings) of Denver, Colorado. Established in 1985, ALPS Holdings provides administration, distribution, accounting and transfer agency services for open-end and closed-end mutual funds, as well as active distribution of Exchange-Traded Funds and closed-end funds. ALPS Holdings is a portfolio company of Lovell Minnick Partners LLC, a private equity firm focused on investments in the financial services industry.

BAIA is an SEC-registered investment adviser and an indirect, wholly owned subsidiary of Bank of America Corporation.

Source: Bank of America Investment Advisors, Inc.

Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 54 million consumer and small business relationships with more than 5,700 retail banking offices, nearly 17,000 ATMs and award-winning online banking with more than 19.8 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. www.bankofamerica.com.

Investment Products:
Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed
Jun 29,
2006

Genworth Financial To Acquire AssetMark Investment Services
06.29.06

Genworth Financial To Acquire AssetMark Investment Services

Genworth Financial To Acquire AssetMark Investment Services

Richmond, VA, June 29, 2006 – Genworth Financial (NYSE: GNW) announced today it has agreed to acquire AssetMark Investment Services, Inc., a leading provider of open architecture asset management solutions to independent financial advisors, with more than $8 billion in assets under management.

Under terms of the agreement, Genworth will pay $230 million for AssetMark at closing, with additional performance-based payments of up to $110 million over five years.

“We are thrilled to be able to team up with AssetMark, with its leading-edge managed accounts and client management services,” said Pam Schutz, president and chief executive officer of Genworth’s Retirement Income and Investment business. “AssetMark is an excellent fit with Genworth Financial Asset Management (GFAM) and will triple our assets under management in the rapidly growing fee-based managed money space. Each organization brings complementary asset advisory strengths to the equation as well – GFAM in its separate account business and AssetMark in the growing mutual fund advisory services arena.”

Ronald D. Cordes, Brian R. O’Toole and Richard E. Steiny founded AssetMark in 1996. They have worked together for more than 25 years in the investment advisory industry, and will retain key leadership positions.

Cordes will be chairman of the combined organization. Gurinder S. Ahluwalia of Genworth Financial will be vice chairman. O’Toole and Steiny will be CEO and president, respectively.

Ahluwalia is president of GFAM and leads Genworth’s independent broker-dealer annuity sales division; he has held leadership positions within Genworth and its predecessor companies since 1997.

“We believe our new combination with Genworth will deliver great benefits to our advisor and broker-dealer clients,” said Cordes. “By partnering with an organization that appreciates innovation, creative thinking and an unwavering focus on client service, we are building an even stronger foundation from which to offer an expanded array of services to assist advisors in building and growing their businesses.”

AssetMark and GFAM combined will have more than $12 billion in assets under management and relationships with about 4,000 independent advisors. The transaction is expected to close in the fourth quarter.

GFAM, based in Encino, and AssetMark, based in Pleasant Hill, California are both leading providers of managed account services on an outsourced basis to independent financial advisors. AssetMark additionally has developed an extensive array of client relationship management tools and business development programs and services to help advisors grow their businesses efficiently and profitably.

“This acquisition is consistent with our strategy to expand in the growing managed money and retirement income markets through independent advisors,” Schutz said, “and we can bring an even greater level of asset management capabilities, product innovation, wealth management and broad back-office capabilities to the independent advisor community.”

“AssetMark is well known throughout the industry for its open-architecture investment solutions, innovative practice management and business development programs,” said Ahluwalia. “We are pleased to be able to bring those extensive resources to our advisor base.”

AssetMark received financial advice in this transaction from Putnam Lovell NBF Securities Inc. and legal advice from Sullivan & Cromwell LLP.

About Genworth Financial
Genworth is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 24 countries, including the United States, Australia, Canada, Japan, Mexico, New Zealand, the United Kingdom and 17 other European countries. For more information, visit www.genworth.com.
Apr 03,
2006

UNX Announces Strategic Investments From Goldman Sachs And UBS
04.03.06

UNX Announces Strategic Investments From Goldman Sachs And UBS

UNX Announces Strategic Investments from Goldman Sachs and UBS

New York, NY April 3, 2006 UNX, Inc., the independent institutional brokerage and market structure experts, today announced it has received strategic equity investments from Goldman Sachs and UBS. As a result of the investments, Goldman Sachs and UBS will become minority shareholders in UNX and the company’s board of directors will be expanded to include new appointees Jim Rogan and Will Sterling.

“We are excited to expand our relationship with UNX,” stated Mr. Rogan, Managing Director at Goldman Sachs. “We have been actively working with UNX in various capacities for several years, and believe this investment helps solidify our relationship with the company.”

Mr. Sterling, Managing Director at UBS, commented, “Our clients count on us to provide them with the very best in execution capabilities. Our partnership with UNX helps accomplish this goal, and we look forward to continuing to work with the company in an expanded capacity.”

UNX provides customizable trading solutions for institutional investors to meet a wide range of trading needs with advanced functionality, proprietary technology and superior client service. “We believe the strategic equity investments by these two world class organizations validate the UNX value proposition,” said Michael Dura, Chief Executive Officer of UNX. “We look forward to working with our new partners as we continue to develop the organization.”

Goldman Sachs and UBS will join existing investment firms Lovell Minnick Partners, Gazelle TechVentures, and Blue Chip Ventures as investors in UNX.

About Goldman Sachs
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

About UBS
UBS is one of the world’s leading financial firms, serving a discerning global client base. As an organization, it combines financial strength with an international culture that embraces change. As an integrated firm, UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses.

UBS is the world’s largest wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.

UBS is present in all major financial centers worldwide. It has offices in 50 countries, with about 39% of its employees working in the Americas, 37% in Switzerland, 16% in the rest of Europe and 8% in Asia Pacific. UBS’s financial businesses employ more than 69,500 people around the world. Its shares are listed on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).

About UNX
UNX is an institutionally focused agency brokerage providing advanced electronic trading solutions and premium services. With flexible connectivity options and core platform technology that consolidates market access and provides a true depth-of-book view of the US equities market, UNX enables buy-side investors to minimize market impact, reduce transaction costs and manage today’s fragmented liquidity to their advantage. UNX meets the demanding requirements of institutional trading through innovative, reliable technology to streamline trade operations and help sophisticated traders find best execution opportunities within a completely anonymous environment. The company’s commitment to trading efficiency extends to its multiple value-added services, including advanced electronic trading capabilities, commission management tools and an agency trade desk. For more information, please visit www.unx.com. Member:NASD/SIPC UNX: Market Structure Experts
Sep 19,
2005

Standard & Poor’s Corporate Value Consulting Unit To Merge With Duff & Phelps
09.19.05

Standard & Poor’s Corporate Value Consulting Unit To Merge With Duff & Phelps

Standard & Poor’s Corporate Value Consulting Unit to Merge with Duff & Phelps Combination Will Create a Leading Independent Financial Advisory Firm

New York, NY, September 19, 2005 Duff & Phelps, LLC, an independent financial advisory and investment banking firm, and The McGraw-Hill Companies, Inc. (NYSE: MHP), parent company of Standard & Poor’s, announced the signing of an agreement under which the Standard & Poor’s Corporate Value Consulting (CVC) business unit, a leading provider of valuation and financial advisory services, will merge with Duff & Phelps concurrent with a management led buyout of CVC. The new firm will operate under the Duff & Phelps name. Terms of the transaction, expected to close in late September, have not been disclosed.

The combination will create a leading independent financial advisory firm with over 600 employees serving clients globally through offices in 15 cities in the United States and Europe. Duff & Phelps will offer a broad array of consulting and investment banking services, including financial reporting and tax valuation, fixed asset and real estate consulting, M&A advisory, fairness and solvency opinions, ESOP and ERISA advisory services, legal business solutions and dispute consulting.

“This combination establishes a new strategic paradigm for the industry,” said Noah Gottdiener, chief executive officer of Duff & Phelps. “The implementation of Sarbanes-Oxley has forced managers, boards and shareholders to become more concerned with conflicts of interest and overall corporate governance issues. Government and investor scrutiny has never been more intense, and the new firm is designed to set the standard in providing independent financial advisory services of the highest order. Duff & Phelps will become the world’s leading valuation and financial advisory services firm.”

Gerry Creagh, executive managing director of CVC who will become co-president of the combined firm said, “The new firm will be well positioned to capitalize on the global shift occurring in the regulatory environment, providing a strong platform from which to continue our global expansion and invest in services with high growth potential. The businesses of Duff & Phelps and CVC are complementary, providing strong strategic rationale for the combination.”

“The scale and breadth of services of the combined firm will enhance our ability to serve all of our advisory, consulting and investment banking clients,” said Chet Gougis, who will become the combined firm’s co-president. “Merging with a strong organization like CVC also creates the opportunity to grow and further enhance the Duff & Phelps name which has established a reputation for objectivity, integrity and exceptional client service built over seventy years.”

Financial backing for the transaction will be provided by Lovell Minnick Partners and Vestar Capital Partners. GE Capital will provide debt financing.

About Duff & Phelps, LLC
Duff & Phelps is a financial advisory and investment banking firm focused on providing merger and acquisition, private placement, valuation, financial opinion and ESOP and ERISA advisory services. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies. For more information, visit www.duffandphelps.com.

About Standard & Poor’s Corporate Value Consulting
Standard & Poor’s Corporate Value Consulting is a leading provider of independent and objective valuation and corporate finance advice in connection with financial reporting and tax; mergers, acquisitions, joint ventures, divestitures and corporate restructurings; capital allocation, project investment and capital structure decisions; and commercial and shareholder disputes. For more information, visit www.standardandpoors.com.
Aug 09,
2005

Lovell Minnick Partners Acquires ALPS Financial Services
08.09.05

Lovell Minnick Partners Acquires ALPS Financial Services

Lovell Minnick Partners Acquires ALPS Financial Services

Denver, August 9, 2005- ALPS Financial Services Inc. (“ALPS”), parent of ALPS Mutual Fund Services Inc. and a leading provider of outsourced back-office administration and distribution services to the fund management industry with approximately $10 billion in client assets under administration, today announced that it has entered into a definitive agreement to be recapitalized by Lovell Minnick Partners LLC, a private equity firm specializing in the global financial services industry. Financial terms for this transaction, which is expected to close in September 2005, were not disclosed.

Established in 1985, Denver-based ALPS provides administration, distribution, accounting and transfer agency services for open-end and closed-end mutual funds, as well as active distribution of Exchange-Traded Funds (ETFs) and closed-end funds. ALPS’ clients include the WestCore funds, Clough closed-end funds, and Select Sector SPDR Trust.

ALPS’ approximately 90 employees, led by President Edmund (“Ned”) J. Burke, a 20-year mutual fund industry veteran, will continue to operate the company in Denver. In addition, Thomas A. Carter and Jeremy O. May, both Managing Directors, will continue in their current roles. The three will maintain a significant equity interest in the re-capitalized company. With Lovell Minnick’s acquisition of a controlling interest, W. Robert Alexander, Chairman and Founder of ALPS, plans to retire from active management of the company. Mr. Alexander will remain on the ALPS Board of Directors and continue to serve as a trustee on a number of mutual fund Boards for which ALPS provides services.

“Although relinquishing ownership of the company is difficult after 20 years, I’m very pleased that, except for me, the company and its staff will remain intact and continue to operate and manage ALPS in the future,” said Mr. Alexander. “The recapitalization and our relationship with Lovell Minnick provide us with additional resources to expand our business in the core mutual fund market as well as in the fast-growing ETF and closed-end fund markets,” said Mr. Burke.

“We believe ALPS has an exciting future and many growth opportunities and we look forward to supporting management in pursuing them,” said Jeffrey D. Lovell, Chairman and Managing Director of Lovell Minnick Partners.

Green, Manning & Bunch, Ltd., a Denver-based middle-market investment banking firm, served as ALPS’ exclusive financial advisor on the transaction.

About ALPS Financial Services
Established in 1985, Denver-based ALPS Financial Services, through affiliates ALPS Mutual Funds Services Inc. and ALPS Distributors Inc., is responsible for over 100,000 shareholder accounts and approximately $10 billion client mutual fund assets under administration, and approximately $120 billion in client assets under distribution. For more information about ALPS Financial please visit www.alpsinc.com.

About Lovell Minnick Partners
Lovell Minnick Partners is an independent investment firm providing buyout and growth capital to developing companies in the global financial services industry. From offices in Los Angeles and New York, Lovell Minnick manages partnerships totaling $240 million for qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of financial services including asset management, financial product distribution, securities brokerage, and financial consulting services. Limited Partners of Lovell Minnick and its predecessor include Aegon U.S.A Inc., AXA S.A., CalPERS, and National Bank of Canada. For more information about Lovell Minnick Partners please visit www.lovellminnick.com.

Disclaimer

Lovell Minnick Partners and certain of its sponsored general partners are registered with the Securities and Exchange Commission as investment advisers under the Investment Advisers Act of 1940, as amended. The information provided on this website, including any information regarding Lovell Minnick’s current and historical portfolio investments, is not intended to recommend any investment described herein and is not an offer or sale of any security or investment product or investment advice. Past performance is not a guarantee of future results, and it should not be assumed that results for current and historical portfolio investments will be achieved for other investments. Representative investments are not to be considered a complete list of all investments made in the past, or currently held, by Lovell Minnick funds.

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This Website is operated and controlled by LMP in the United States. Due to the global nature of the Internet, the Website may be accessed by users in countries other than the United States. LMP makes no warranties that Content on this Website is appropriate or available for use in any jurisdiction. If it is illegal or prohibited in your country of origin to access or use this Website, then you should not do so. Those who choose to access the Website do so on their own initiative and are responsible for compliance with all local laws and regulations.

Limitations of Liability

You acknowledge and agree that your use of this Website is solely at your own risk and that none of LMP, its affiliates, nor any of the parties involved in creating, producing, or delivering the Website is liable for any direct, indirect, incidental, consequential or punitive damages, or any other losses, liabilities, obligations, damages, claims, demands, actions, costs and/or expenses of any kind (including legal fees, expert fees, or other disbursements) which may arise, directly or indirectly, through authorized or unauthorized access to, use of, or browsing of this Website or downloading of any materials, data, text, images, video, audio, or other Content from this Website, including but not limited to anything caused by any omission, interruption, defect, viruses, bugs, human action or inaction or any computer system, phone line, hardware, software, or program malfunctions, or any other errors, failures or delays in computer transmissions or network connections.

Notwithstanding anything to the contrary herein, your sole and exclusive remedy from LMP, its affiliates, or any of the parties involves in creating, producing, or delivering the Website, for any reason relating to the Website or Content is to stop using the Website. In jurisdictions not allowing the exclusion or limitation of incidental or consequential damages, LMP’s and its affiliates’ liability will be limited to the extent permitted by law.

Indemnity

You agree that you will be solely responsible for, and that you will indemnify, and hold LMP, its affiliates, and its and their respective officers, directors, agents, employees, representatives and licensors harmless from and against any and all claims, demands, suits, proceedings, liabilities, judgments, losses, damages, costs or expenses, including reasonable attorney’s fees assessed or incurred by LMP or such affiliates, directly or indirectly, with respect to or arising out of your use or misuse of the Website or the Content or resulting from your violation of these Terms and Conditions. LMP reserves the right, at its own expense, to assume the exclusive defense and control of any matter for which it is entitled to indemnification, but you must still indemnify LMP for all liability, losses, or damages. You agree to provide LMP with whatever cooperation it reasonably requests in connection with any such defense.

User Submissions

You acknowledge and agree that any communication or material you transmit to this Website or to LMP, in any manner or for any reason, will not be treated as confidential or proprietary. Furthermore, you acknowledge and agree that any materials you transmit to LMP may be used by LMP, anywhere, anytime, and for any reason whatsoever, without payment to you. From time to time, LMP receives business plans, and LMP reserves the right to review only those plans that LMP believes fit our criteria for investment. LMP also reserves the right to reject plans in our sole discretion, and LMP is under no obligation to return any information or materials to the sender. LMP expects to receive many similar plans and ideas. Therefore, you understand that your idea may already have been submitted to us or be under consideration by us. LMP is not limited or restricted in any way from pursuing opportunities with others as a result of you providing any information or materials to us.

You agree not to send LMP anything that constitutes a trade secret or confidential or proprietary information. LMP is not in a position to accept such information, nor can LMP agree to obligations of nondisclosure or confidentiality with regard to submitted plans or ideas. You agree that any information or materials that you, or individuals acting on your behalf, provide to LMP will not be considered confidential or proprietary.

Electronic Communications

When you use the Website, or send e-mails or other communications from your desktop or mobile device to LMP, you are communicating with LMP electronically. You consent to receive communications from us electronically. LMP will communicate with you in a variety of ways, such as by e-mail or by posting notices and messages on or through the Website. You agree that all agreements, notices, disclosures, and other communications that LMP provides to you electronically satisfy any legal requirement that such communications be in writing.

Privacy Policy

Please review the Website’s Privacy Policy which governs your visit to this Website in order to understand LMP’s privacy practices.

Severability

If any of these Terms and Conditions are deemed invalid, void, or unenforceable, such term or condition shall be deemed severable and shall not affect the validity or enforceability of the remaining Terms and Conditions, and such invalid, void, or unenforceable term or condition shall be deemed to be replaced by a term or condition that is valid and enforceable and corresponds as close as possible with the intent of the invalid, void, or unenforceable term or condition.

Miscellaneous

You may not assign or otherwise transfer these Terms and Conditions, or any of your rights or obligations hereunder, without LMP’s prior written consent, and any attempted assignment or other transfer in violation of this provision shall be null and void.

Nothing in these Terms and Conditions may be used to construe you and LMP as joint venturers, co-employers, partners, or agents of each other, and neither you nor LMP has the power to obligate or bind the other in any way whatsoever.

The failure of LMP at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same unless the same is waived in writing. No waiver in connection with these Terms and Conditions shall be effective unless it is in writing and signed by the party granting such waiver.

The terms and conditions set forth in these Terms and Conditions, and each agreement included or referred to in these Terms and Conditions, constitutes the final, complete, and exclusive agreement with respect to the subject matter hereof and may not be contradicted, explained, or supplemented by evidence of any prior agreement, any contemporaneous oral agreement, or any inconsistent additional terms.

Governing Law

These Terms and Conditions shall be interpreted and construed in accordance with the laws of the Commonwealth of Pennsylvania. You agree that your use of this Website and any and all claims, controversies, and causes of action arising out of or relating to these Terms and Conditions or this Website, whether sounding in contract, tort, or statute, shall be governed in all respects by the internal laws of the Commonwealth of Pennsylvania, including its statutes of limitations, without giving effect to any laws or other rules that would result in the application of the laws or statutes of limitations of a different jurisdictions. Any dispute relating to the above shall be resolved exclusively in the state or federal courts located in Philadelphia, Pennsylvania. LMP may seek injunctive or other appropriate relief in any state or federal court in the Commonwealth of Pennsylvania, and you consent to exclusive jurisdiction and venue in such courts.

Contact Us

Thank you for visiting our Website. Please contact us at lovellminnickpartners@lmpartners.com if you have any questions about our Website or these Terms and Conditions.

Website Privacy Policy

Thank you for visiting the Lovell Minnick Partners (“LMP”) website. Your privacy is important to LMP and our affiliates (together, ‘our’, ‘us’, or ‘we’). To better protect your privacy, we are providing you information explaining our online information practices.

LMP may change this Privacy Policy from time to time, based upon any changes to the personal information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any point we decide to collect personal information or use any collected information in a manner different from that stated at the time it was collected, and if we make any substantial changes to this Privacy Policy, we will post a prominent announcement on our home page of this website. We will use your personal information only in accordance with this Privacy Policy under which the personal information was collected.

LMP respects the privacy of visitors to our website. This Privacy Policy describes how and when we gather information from visitors to our website. Please read this Privacy Policy carefully. For the purposes of applicable EU laws, LMP will be a data controller of any personal information collected by us.

We rely on various legal bases under applicable data protection legislation in order to process your personal information, including our legitimate interests, contractual necessity and as required by law. We use the personal information we collect to operate our business and provide you with the services and products we offer and perform essential business operations. We do not collect any special categories of personal information about you, nor any information about criminal convictions and offenses.

If we require your personal information due to a legal requirement or obligation or in order to perform a contract with you, we will make you aware of this at the time we collect your personal information, and the possible consequences of you failing to provide such personal information (e.g., we may require your passport details to verify your identity for the purposes of anti-money laundering regulations and failure to provide this information means that we cannot provide our services or products to you). In this case, we may have to cancel an investment or service you have with us but we will notify you if this is the case at the time.

Further information about the legal bases under which we process your personal information is included in the section headed “Why We Use Your Personal Information”.

You do not need to take any action as a result of this Privacy Policy, but you do have certain rights as described below in the section headed “Your Rights”.

Aggregate Data

We generally record certain usage information, such as the number and frequency of visitors to this website. This information may include the websites that you access immediately before and after your visit to our website. If we use such data at all, it will be on an aggregated and anonymised basis, and we will not disclose to third parties any information that could be used to identify you personally.

How We Collect Your Personal Information

If you voluntarily submit information to our website, for example, in a request to receive a LMP newsletter, we may record and use any such personal information. We may collect personal information from you via the “Contact Us” details on our website (including by email, post and telephone), when you submit a message using our website contact form, or when you provide us your details when signing up for our newsletter. The personal information we may collect about you includes your name, name of your employer, address, title, job title, position, telephone number and email address. Information regarding how we process personal information collected on the Investment Café portal (accessed via the “Client Login” page), is set out in the privacy notice available on the Investment Café portal, or alternatively, the privacy notice provided to you when you invest in one of our funds.

We will only use your personal information for reasonable business purposes as set out below (including, but not limited to, fulfilling your requests). We will not use your personal information for any other purposes without your permission.

Information Provided by Third Parties or Publicly Available Sources

We also process information in relation to companies that we are evaluating in connection with a potential investment in or purchase of such companies. This personal information is obtained via third parties (i.e., the company in question). We may also process information provided to us from recruiters or our portfolio companies in connection with evaluating potential employment or resourcing opportunities.

Why We Use Your Personal Information

To the extent that you provide us with, or we otherwise collect, any personal information, through or in connection with this website (i.e., via telephone, email or post), we may use such information for the following purposes and may process your personal data on more than one legal basis depending on the specific purpose:

Purpose Legal Basis

To provide you with the services or financial products you have requested. Contractual necessity

To keep a record of your relationship with us. Legitimate interest and contractual necessity

To verify your identity. Legal requirement and legitimate interest

To conduct due diligence activities in connection with an actual or prospective corporate transaction or investment with respect to which we are party to. Legitimate interest

Fraud and abuse prevention. Legal requirement and legitimate interest

Litigation management and conducting internal audits and investigations. Legal requirement and legitimate interest

To administer and protect our business and this website. Legitimate interest

To send you marketing communications. Consent and legitimate interest

To respond to your contact requests via email, post or telephone. Legitimate interest

No automated decision making, including profiling, is used when processing your personal information.

Marketing

We will only send you direct marketing communications, such as LMP newsletters, where we have obtained your prior consent to do so, or based on our legitimate business interests where we have an existing relationship with you and we wish to contact you about similar services in which you may be interested. You may opt-in to certain kinds of marketing, and amend your marketing preferences at any time (including by unsubscribing), by emailing lovellminnickpartners@lmpartners.com. You can also click on the “opt-out” or “unsubscribe” link provided in all our marketing emails.

Disclosures and Transfers of Personal Information

We may use internet service providers to operate this website and employ other persons to perform work on our behalf. Your personal information will be shared with and processed by our affiliates and certain service providers as necessary to fulfil the purposes set out in this Privacy Policy, including professional advisors, consultants and data hosting providers, and in some instances, placement agents and other fund administrators. These third parties may have access to the personal information you submit through this website, but only for the purpose of performing their duties. These persons may not use your personal information for any other purpose.

We make sure anyone who provides a service to, or for us, enters into an agreement with us and meets our standards for data security. To the extent your personal information is transferred to countries outside of the EEA, such transfers will only be made in accordance with applicable data privacy laws. For further information about the safeguards used, please contact lovellminnickpartners@lmpartners.com.

We will not provide any personal information to any other persons, except if we are required to make disclosures to the government, to comply with a request from a regulator, national security, for the purposes of public importance or any other legal or investigatory process involving us or private parties in connection with a lawsuit, subpoena, investigation, examination or similar proceeding. We reserve the right to disclose any such information in those circumstances. Should we, or any of our affiliated entities, be the subject of a takeover, divestment or acquisition we may disclose your personal information to the new owner of the relevant business and their advisors.

Protection of Personal Information

We endeavor to protect your personal information. We use both robust technical and procedural methods to maintain the integrity and security of our databases so the information we have about you is protected to the extent possible from unauthorized access and improper use, including firewalls. Please be aware, though, that no security measures are perfect or impenetrable. In addition, we limit access to your personal information to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.

We have put in place procedures to deal with any suspected personal information breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

We will keep your personal information only for as long as is reasonably necessary for the purposes set out in this Privacy Policy, unless a longer retention period is required by law. We will not keep more information than we need for those purposes. For further information about how long we will keep your personal information, please contact lovellminnickpartners@lmpartners.com.

Capacity

This website is only intended for individuals who are at least 13 years of age. We do not knowingly encourage or solicit visitors to this site who are under the age of 13 or knowingly collect personal information from anyone under the age of 13 without parental consent. If we learn we have collected or received personal information from an individual under the age of 13, we will delete that information.

Your Rights

You have the right to access and control (in certain ways) the personal data we process about you. To exercise these rights and controls, please contact lovellminnickpartners@lmpartners.com.

Your Right Details

Access You have the right to ask for a copy of the personal data that we hold about you free of charge, however we may charge a ‘reasonable fee’, if we think that your request is excessive, to help us cover the costs of locating the information you have requested.

Correction You may notify us of changes to your personal data if it is inaccurate or it needs to be updated.

Deletion If you think that we shouldn’t be holding or processing your personal data any more, you may request that we delete it. Please note that this may not always be possible due to legal obligations.

Restrictions on use If you think that we shouldn’t be holding or processing your personal data any more, you may request that we delete it. Please note that this may not always be possible due to legal obligations.

Objection You have the right to object to processing, including: (i) for direct marketing; (ii) for research or statistical purposes; or (iii) where processing is based on legitimate interests.

Portability If you wish to transfer your personal data to another organisation (and certain conditions are satisfied), you may ask us to do so, and we will send it directly if we have the technical means.

Withdrawal of consent If you previously gave us your consent (by a clear affirmative action) to allow us to process your personal data for a particular purpose, but you no longer wish to consent to us doing so, you can contact us to let us know that you withdraw that consent.

We may need to request specific information from you to help us confirm your identity and ensure your right to exercise the above rights. This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response. We try to respond to all legitimate requests within one month. Occasionally it could take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

Contact Us

Thank you for visiting this website. Please contact us at lovellminnickpartners@lmpartners.com if you have any questions about this website or this Privacy Policy.

Complaints

If you have any concerns, questions or complaints with respect to our processing of your personal information, please contact us at lovellminnickpartners@lmpartners.com.

You may also lodge a complaint directly with your local data protection authority.





CALIFORNIA WEBSITE PRIVACY POLICY

DATE: December 31, 2019

This California Website Privacy Policy supplements the above Website Privacy Policy with respect to specific rights granted under the California Consumer Privacy Act of 2018 (as amended, the “CCPA”) to natural person California residents and provides information regarding how such California residents can exercise their rights under the CCPA. This supplement is only relevant to you if you are a resident of California as determined in accordance with the CCPA. Information required to be disclosed to California residents under the CCPA regarding the collection of their personal information that is not set forth in this CCPA supplement is otherwise set forth in the above Website Privacy Policy. To the extent there is any conflict with the privacy requirements under the Gramm-Leach-Bliley Act and/or Regulation S-P (“GLB Rights”), GLB Rights shall apply.

What does this Website Privacy Policy apply to?

This Website Privacy Policy applies solely to your interactions with us through our Website (as defined below). If you provide personal information to use through another means (e.g., as an employee or seeking employment, as a client, or as an investor) you will receive a separate privacy notice and that notice will govern that personal information.

What information do we collect about you?

We collect limited types of personal information through our website and investor reporting portals, as well as through other electronic communications (e.g., emails), as applicable (collectively, the “Website”). The types of personal information we collect about you depends on the nature of your interaction with us. The categories of personal information we have collected from individuals on this Website over the last twelve (12) months include the following:

  • Identifiers, such as name, contact details and address (including physical address, email address and Internet Protocol address);
  • Other customer records, such as telephone number and personal information provided in connection with obtaining account access;
  • Commercial information, such as account data;
  • Professional or employment-related information;
  • Education information;
  • Internet or other electronic network activity information, such as information regarding your use of our Website (e.g., cookies, browsing history and/or search history), as well as information you provide to us when you correspond with us in relation to inquiries. The browsing and/or search history information may include the websites that you access immediately before and after your visit to our website. If we use such data at all, it will be on an aggregated and anonymised basis.

We do not knowingly collect or solicit personal information from anyone under the age of 18.

How do we obtain your personal information?

In connection with forming and operating our Website, we collect and maintain your nonpublic personal information from the following sources:

  • Information from your communications with us in connection with this Website, including any update notices provided by you.
  • Information captured on our Website, including registration information, information provided through online forms and any information captured via cookies.

We may combine personal information that you provide to us with information that we collect from or about you from publicly available sources. This will include information collected in an online or offline context.

How do we use your personal information?

We will use your personal information for one or more of the following business purposes:

  • To perform services for you.
  • To improve our Website and the products and services that we offer and notify you about changes to our products and services.
  • To communicate with you, including responding to requests for information submitted by you through our Website.
  • To keep a record of your relationship with us.
  • Ongoing operations, administrative, accounting, reporting, account maintenance and other processes.
  • To audit and verify the quality and effectiveness of our services and compliance.
  • To detect security incidents and to protect against malicious, deceptive, fraudulent, or illegal activity.
  • To generally comply with U.S., state, local and non-U.S. laws, rules and regulations.

Additionally, we may use your personal information to keep you informed of our products and services, if you have provided your consent to us doing so, or where we have an existing relationship with you and we wish to contact you about products and services similar to those which we provide you, in which you may be interested. You may opt-in to certain kinds of marketing, or all forms of marketing at any time, by contacting us and you may unsubscribe to receiving emails by clicking on the "opt-out" or "unsubscribe" link provided in all our marketing emails.

Who do we share your personal information with?

We do not sell any of the personal information we collect about you to third parties.

We do not disclose any nonpublic personal information about you to anyone, except as permitted or required by law or regulation and to affiliates and service providers, including but not limited to administrators, advisors, lenders, banks, auditors, law firms, governmental agencies or pursuant to legal process, self-regulatory organizations, consultants and placement agents. We may also disclose your information to other parties as may be required by law or regulation, in response to regulatory inquiries, or upon your request.

Within the last twelve (12) months, we have shared each of the categories of personal information collected in connection with this website with affiliates and service providers as set forth above in “What information do we collect about you?”

We may also share your personal information with applicable third parties in the event of a reorganization, merger, sale, acquisition, assignment, bankruptcy proceeding, or other disposition of all or a portion of our business, assets or shares.

How do we keep your personal information secure?

We consider the protection of sensitive information to be a sound business practice, and to that end we employ appropriate organizational, physical, technical and procedural safeguards, which seek to protect your personal information in our possession or under our control to the extent possible from unauthorized access and improper use.

Your rights under the CCPA

Deletion Rights: You have the right to request that we delete any of your personal information that we retain, subject to certain statutory exceptions, including, but not limited to, our compliance with U.S., state, local and non-U.S. laws, rules and regulations. We will notify you in writing if we cannot comply with a specific request and provide an explanation of the reasons.

Disclosure and Access Rights: You have the right to request that we disclose to you certain information regarding our collection and use of personal information specific to you over the last twelve (12) months. Such information includes:

  • the categories of personal information we collected about you;
  • the categories of sources from which the personal information is collected;
  • our business or commercial purpose for collecting such personal information;
  • the categories of third parties with whom we share the personal information;
  • the specific pieces of personal information we have collected about you; and
  • whether we disclosed your personal information to a third party, and, if yes, the categories of personal information that each recipient obtained.

No Discrimination: We will not discriminate against you for exercising your rights under the CCPA, including by denying service, suggesting that you will receive, or charging, different rates for services or suggesting that you will receive, or providing, a different level or quality of service to you.

How to Exercise Your Rights: To exercise any of your rights under the CCPA, or to access this notice in an alternative format, please submit a request on your behalf using any of the methods set forth in the Contact us section below.

Contact us

For any requests relating to the exercise of your rights under the CCPA, or questions regarding our processing of your personal information, please submit or have your authorized representative submit a request using any of the methods set forth below.

Call us using the following toll-free number: 844-250-5175.

Submit a request online using the following online form: www.lmparners.com/ccpa.

Email us at the following email address: lovellminnickpartners@lmpartners.com.

We will contact you to confirm receipt of your request under the CCPA and request any additional information necessary to verify your request. We verify requests by matching information provided in connection with your request to information contained in our records. Depending on the sensitivity of the request and the varying levels of risk in responding to such requests (for example, the risk of responding to fraudulent or malicious requests), we may request further information or your investor portal access credentials, if applicable, in order to verify your request. You may designate an authorized agent to make a request under the CCPA on your behalf, provided that you provide a signed agreement verifying such authorized agent’s authority to make requests on your behalf, and we may verify such authorized person’s identity using the procedures above.

Our goal is to respond to any verifiable consumer request within forty-five (45) days of our receipt of such request, but in certain cases, additional time might be required. Please contact the Chief Compliance Officer of Lovell Minnick Partners LLC at the email address above with any questions about this California Website Privacy Policy.

EU SFDR Disclosure

Firm-level disclosures required under Regulation 2019/2088 on sustainability-related disclosures in the financial services sector dated 27 November 2019, as amended (“SFDR”)

Transparency of sustainability risk policies

Lovell Minnick seeks to integrate environmental, social and governance (“ESG”) factors, including sustainability risks, where relevant, into its investment processes, investment decisions and portfolio monitoring through the application of its ESG Policy and related procedures. Lovell Minnick evaluates material ESG risks, mitigating factors and opportunities applicable for the asset type (and the industry as a whole), which may include corporate governance, data privacy, ethics, anti-bribery and corruption, diversity and employee retention. When evaluating investment opportunities, Lovell Minnick also considers whether there are serious ESG or reputational concerns with regard to prospective portfolio companies or other assets.

Lovell Minnick may engage third party ESG consultants to conduct ESG due diligence on each potential portfolio company, pre-acquisition, to identify any material ESG-related risks and to provide recommendations for how to mitigate those risks during ownership. These recommendations are intended to guide Lovell Minnick’s consideration of material ESG risks when making portfolio investments.

Lovell Minnick supports the American Investment Council (“AIC”) Guidelines for Responsible Investing and strives to align with the principles that it contains.

More information on Lovell Minick’s ESG Policy can be found at https://www.lmpartners.com/documents/ESG_Policy_vF_1-2022.pdf

Transparency of Principal Adverse Sustainability Impacts

Lovell Minnick has considered, and continues to consider, environmental, social and governance (“ESG”) factors in its investment process but it does not consider principal adverse impacts of investment decisions on sustainability factors as specifically set out in the SFDR. Lovell Minnick has chosen not to do so for the present time as it considers that its existing ESG Policy and procedures are appropriate, proportional and tailored to the investment strategies of the funds managed by Lovell Minnick. Lovell Minnick continues to closely monitor regulatory developments with respect to the SFDR and other applicable ESG-focused laws and regulations, including the implementation of related and secondary legislation and regulatory guidance, and will, where required or otherwise appropriate, make changes to its existing policies and procedures.