BC Investment Partners is to acquire the wealth management firm McCormack Advisors International from the Mark H. McCormack Trusts and Arthu...

BC Investment Partners is to acquire the wealth management firm McCormack Advisors International from the Mark H. McCormack Trusts and Arthur Lafave, Jr. The transaction is expected to close by the end of January but terms were not disclosed.

BC is a privately owned wealth management services provider serving high net worth individuals and families on a fee-only basis.

MAI provides financial planning, investment advisory, tax and family office services to professional athletes, celebrities and high net worth individuals and families.

MAI was previously affiliated with IMG Worldwide founded by the late Mark McCormack. This affiliation was terminated in November, 2004.

Michael Horvitz, a co-trustee of the Mark McCormack Trusts said: “Since Mark McCormack's death, we have spoken to a number of possible buyers for MAI in order to find the right fit for the company.

"We are delighted to have found BC Investment Partners. We believe that BC's culture is very compatible with MAI's, and we are quite pleased that MAI will be in such capable hands.”

Both BC and MAI are headquartered in Cleveland, Ohio and will remain there following the merger.