Carlyle and Bain are final bidders for Wealth Enhancement in $7 billion deal

Private Banker International··Read original
3▲2 ▼1Impact / 5
Summary · why it matters

Carlyle and Bain Capital are the final bidders to acquire Wealth Enhancement in a deal that could value the wealth management platform at about $7 billion including debt, the Financial Times reported. Wealth Enhancement oversees nearly $160 billion in client assets, and its private equity owners TA Associates and Onex have put the business up for sale. The sale process, run by Evercore, is at an advanced stage but may not result in a transaction, and the current owners could still decide to keep the business. The company is a registered investment adviser that has expanded through acquisitions, buying at least six smaller firms since last year. The wealth management sector has attracted private equity interest due to recurring revenues and stable client relationships, with other notable deals including Mubadala Capital's $8.8 billion take-private of CI Financial and Clayton Dubilier & Rice's $7 billion buyout of Focus Financial Partners.

Impact on assets 3

Financials▲
Carlyle Group Inc
CG
▲ PositiveCapitalrelevance

Carlyle is a final bidder for Wealth Enhancement, a $7B deal that would expand its wealth management portfolio.

Evercore Partners Inc
EVR
▲ PositiveCapitalrelevance

Evercore is running the sale process, generating advisory fees from a large M&A transaction.

Industrials▼
Onex Corporation
5987
▼ NegativeCapitalrelevance

Onex is a current owner selling Wealth Enhancement, potentially losing a valuable asset.

Off-coverage companies 7

Wealth Enhancement Groupi
Private▲ PositiveCapitalrelevance

Wealth Enhancement is the subject of a potential $7 billion acquisition by Carlyle and Bain Capital, which would provide a premium to current owners.

Bain Capitali
Private▲ PositiveCapitalrelevance

Bain Capital is a final bidder for Wealth Enhancement, a $7B deal that would expand its wealth management portfolio.

TA Associatesi
Private▼ NegativeCapitalrelevance

TA Associates is a current owner selling Wealth Enhancement, potentially losing a valuable asset.

CI Financiali
Private± Mixedrelevance

Clayton Dubilier & Ricei
Private± Mixedrelevance

Focus Financial Partnersi
Private± Mixedrelevance

Mubadala Capitali
Private± Mixedrelevance