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Deals Of The Day: The Latest In Wealth Management M&A - Exencial, Oak Hill, Others

Editorial Staff June 3, 2020

Deals Of The Day: The Latest In Wealth Management M&A - Exencial, Oak Hill, Others

The latest wealth management merger and acquisition transactions in North America.

Exencial, Willingdon Wealth Management
The US wealth manager, Exencial Wealth Advisors, has completed its purchase of Willingdon Wealth Management, it announced yesterday. 

The deal gives Exencial more muscle in areas such as customized investment management, financial planning, trustee services and charitable giving. Exencial gains $800 million in assets under management and 15 new employees, including five CFA charterholders.

“We look forward to entering this next phase of the firm’s growth with the addition of Willingdon’s deep investment expertise and talent,” John Burns, CEO of Exencial, said. 

Republic Capital Group and InCap Group served as advisors on the deal for Exencial Wealth Advisors and Willingdon Wealth Management, respectively.

Oak Hill Capital, 4x4 Capital
Private equity firm Oak Hill Capital has partnered with 4x4 Capital, an investment and management platform concentrating on mid-size companies in the consumer and services sectors. 

The firms will focus on acquiring businesses generating roughly $50 to $200 million of earnings before interest, taxation, depreciation and amortization. 

Over the past 34 years, Oak Hill Capital and its predecessors have invested in over 90 private equity transactions across the US and global economies.

AAFCPAs, a certified public accounting and consulting firm operating in areas including wealth management, has bought Scott A Goffstein & Associates, a 14-person CPA firm based in Waltham, Massachusetts.

The acquisition bumps up the total number of partners to 34 at AAFCPAs, and a total staff of 240. The business will maintain the Goffstein office, creating four locations: Boston, Westborough, Wellesley and Waltham. 

Founded in 1987, Scott A Goffstein & Associates developed specializations in international tax, tax treaty issues, transfer pricing methodologies, intercompany transactions, although its work included the full spectrum of domestic tax, audit, and outsourced accounting disciplines.

With the increased focus on international tax, AAFCPAs' Dave McManus will step in to provide strategic leadership to the firm's growing tax practice across all industries. Carla McCall will assume the sole responsibility for managing partner. 

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