Focus Financial is pushing shareholders to take a take-it-or-leave-it private equity offer worth about $6 billion -- including $2 billion debt assumption -- despite a break-up value near $10 billion
Clayton, Dubilier & Rice's $53-a-share, or $4.1 billion, offer is predatory but likely to be accepted, in the sense that analysts imagine the rollup could be sold off in parts; Buckingham, alone, may fetch $2 billion.
Related Moves
With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
August 13, 2022 at 12:39 AM
Mercer is hiring ex-Schwabbies like crazy after five-year AUM jumps from $9B to $56B -- with a big bump in the past 12 months -- using 100 IARs who only sell the RIA as chum for M&A
The Denver RIA poached high-level McKinsey talent as CFO and a smattering of Schwab, Fidelity, TD Ameritrade, LPL, and RBC talent to keep up with growth and ambition of late bloomers.
February 27, 2024 at 2:50 AM
Focus Financial makes 'abrupt' CEO call, lets Rudy Adolf go into 'retirement,' with 'no solution in place;' the eighth RIA chief executive unseated since June as VCs move in -- where is the EBITDA?
Clayton, Dubilier & Rice closed on its $7-billion purchase of the roll-up on Aug. 31 -- with no hint that its parting of the ways with legendary 60-year-old founder was in the offing.
October 24, 2023 at 1:19 AM
Looking past Covid-19 pandemic, Louisiana RIA buys $1-million building after hitting $1 billion in AUM and hiring the town's mayor
Summit Financial Wealth Advisors was sold to Focus Financial in 2014, growing its assets by $400 million since then but keeping staffing about the same
December 17, 2020 at 3:02 AM
Focus Financial Partners, LLC
Consolidator/Roll-up Firm
Top Executive: Rudy Adolf
Savant Capital Management
RIA Serving Endowments/Foundations
Top Executive: Brent Brodeski, CEO
Mercer Global Advisors
Advisory Firm
Top Executive: David Barton
