Lee Equity-backed Atria to buy Cabaret, Grant


Atria Wealth Solutions, a portfolio company of Lee Equity Partners, has agreed to buy Cadaret, Grant & Co. Arita bought all of Cadaret, Grant plus all of its sister companies, Cadaret Grant Agency and Capital Strategy Group. Financial terms weren’t announced. Cadaret, Grant, of Syracuse, New York, is a broker-dealer.

Press release

Atria Wealth Solutions (Atria), a New York-based modern wealth management solutions holding company, has agreed to acquire Syracuse-based independent broker-dealer Cadaret, Grant & Co. Inc. (Cadaret, Grant). Founded in 1985, Cadaret, Grant is one of the largest privately owned independent broker-dealers in the country, servicing approximately 900 financial advisors and with more than $23 billion in assets under administration. Atria will acquire 100% of Cadaret, Grant and 100% of Cadaret, Grant’s sister companies, Cadaret Grant Agency Inc. and Capital Strategy Group, Ltd., pursuant to a definitive stock purchase agreement.

Atria’s acquisition of Cadaret, Grant will build upon the firm’s three decades of industry leadership, expertise and service to deliver one of the most competitive and powerful offerings in the independent wealth management industry. The newly combined organization, which includes Atria subsidiaries, CUSO Financial Services, L.P. and Sorrento Pacific Financial, L.P., will invest resources and capital in client and advisor technologies, products and services to meet the growing demands of both advisors and their clients.

“Cadaret, Grant has been a long-standing leader among independent broker-dealers and bringing it into the Atria family is an incredible opportunity,” says Doug Ketterer, CEO of Atria. “Having worked closely with Art and his team, it is clear that our cultures, philosophies, and approaches to servicing financial advisors and their clients are fully aligned. We believe it is essential for advisors and their clients to have choice and access to the next generation of solutions that best meet their needs in a specific and personalized way. The joining of our organizations allows us to emphasize the best of both firms, creating a wealth management firm for the future.”

“Our shared vision will provide advisors with future growth opportunities while simultaneously protecting the high standards we have adhered to over the past 30 years,” said Art Grant, CEO of Cadaret, Grant. “We have always put the needs of our advisors and home office team first, and with Atria enhancing and improving our offering, I am very excited about the future for our advisors and the firm.” As part of the transaction, Mr. Grant will remain with the company in an advisory role to Mr. Ketterer.

Cadaret, Grant will remain headquartered in Syracuse, NY. The transaction is subject to FINRA approval.

Broadhaven Capital Partners, LLC acted as exclusive financial advisor to Atria Wealth Solutions.  Berkshire Capital acted as exclusive financial advisor to Cadaret, Grant & Co.

 

About Atria Wealth Solutions  

 Atria Wealth Solutions (Atria) is a modern wealth management solutions holding company designed specifically for today’s advisors and their clients. Headquartered in New York City, Atria’s core mission is to empower its subsidiaries’ financial advisors with a next generation set of tools, services and capabilities that support their growth and enable them to prosper in a digitally connected and constantly evolving financial environment. Atria’s subsidiaries include CUSO Financial Services, L.P. and Sorrento Pacific Financial, L.P. For more information, please visit www.atriawealth.com.

 About Cadaret, Grant & Co., Inc.

 Cadaret, Grant is a broker-dealer headquartered in Syracuse, New York and supports more than 900 financial advisors in 475 branch offices nationwide. Founded in 1985, the company provides superior service, advanced technology, effective marketing tools, and a supportive business environment for financial advisors. In 2015, Cadaret, Grant celebrated its 30-year anniversary. For more information about Cadaret, Grant, visit www.cadaretgrant.com.

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