M and A
Deals Of The Day: The Latest In Wealth Management M&A – Mercer, Mallard Financial Partners
Mercer has been buying a mass of wealth management firms in the North American market. Here's the latest deal.
Mercer Global Advisors wrapped up another M&A deal yesterday, following an earlier transaction this week, by announcing that it has acquired a $180 million firm in Delaware.
The acquired business, founded in 1996 by Paul Baumbach, is Mallard Financial Partners, based in Newark, Delaware. Baumbach co-manages the firm, which has more than 200 clients, with Joe Daigle.
Thw terms of the transaction weren’t disclosed in Mercer’s statement yesterday.
Denver-headquartered Mercer Global Advisors, part of Mercer Advisors, has chalked up a number of deals so far in 2023. For example, this week it acquired Macon, Georgia-based firm Day & Ennis, which oversees about $400 million in client money. (US correspondent Charles Paikert reflected on this and other sector deals yesterday in FWR.)
Mercer Advisors, parent of Mercer Global Advisors, is majority owned by Oak Hill Capital and Genstar Capital. Mercer Advisors manages $48 billion in client assets.
