Mercer Advisors was acquired by Lovell Minnick in May 2008 and is a registered investment advisor providing financial planning, wealth management, family office services, and retirement plan design and administration primarily to high-net-worth clients throughout the United States. The company has over 140 employees and operates nationally with 15 branch offices. Mercer Advisors was founded in 1985 and is headquartered in Santa Barbara (www.merceradvisors.com).
Genstar Capital invests from $50 million to $400 million in middle-market companies that have enterprise values from $50 million to $1 billion and EBITDAs greater than $15 million. Genstar manages approximately $3 billion of committed capital and targets investments in the industrial technology, financial services, software, and healthcare industries. The firm was founded in 1988 and is based in San Francisco (www.gencap.com).
“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,” said Anthony Salewski, Managing Director of Genstar. “Mercer has delivered consistent growth over the past several years, and we look forward to partnering with CEO David Barton and his management team to accelerate that trajectory.”
“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 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,” said Mr. Barton.
“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,” said Jeffrey Lovell, Chairman of Lovell Minnick Partners. “We are pleased management has formed a partnership with Genstar, whose interests and plans align well with the company’s strategy.”
Lovell Minnick Partners provides buyout and growth capital to companies in the financial services industry. Lovell Minnick manages private equity partnerships with committed capital totaling over $850 million. The firm is the successor to the private equity affiliate of Putnam Lovell Securities which was established in 1999 by Jeffrey Lovell and James Minnick. Lovell Minnick has offices in Philadelphia and Los Angeles (www.lovellminnick.com).
Moelis & Company (www.moelis.com) acted as the exclusive financial advisor to Mercer in this transaction.
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-26-15