Merchant Continues M&A Charge, Allies With Aviation Specialist

Tom Burroughes

15 February 2022

Merchant Investment Management, which has bought a number of stakes in US wealth firms in recent weeks as part of a strategic build-out, has added another firm to its collection – Mountain Capital Investment Advisors, a firm with a strong aviation industry connection.

Mountain Capital, an RIA, delivers specialized wealth management services for airline industry clients and other investors who benefit from more hands-on coaching in their financial lives. The firm was set up in 2011, and its team draws on their own experiences as pilots and leaders for the airline industry. The teams are based in Denver, Minneapolis, San Francisco, and Los Angeles.

The financial terms of the stake were not disclosed.

The firm will use a minority investment from Merchant, as well as Merchant’s financial services expertise and strategic resources, to expand its reach through inorganic growth, said co-founder Brandt Burns.

“The time is right for us to build our business to the next level,” Burns said, himself a former commercial pilot. “We needed a growth partner who understood the independent wealth management space, and was willing to let us be ourselves and do what we do best. Merchant gives us a very rare blend of support, expertise, and autonomy, and we’re eager to work with them.”

Mountain Capital was advised by Republic Capital Group.

The deal is an example of a busy M&A period in the North American wealth industry, mainly affecting registered investment advisor firms – although multi-family offices also – often driven by private equity capital, as discussed in this FWR article published yesterday. See an interview with the firm here.