The financial terms of the deal were not disclosed.

The wealth management firm, KC, located in Charlotte, North Carolina, was founded by Alexander B Miles and H K Hallett in 1989.The firm, which serves about 210 clients, positions itself as a family office solution to high net worth clientele. 

The transaction continues a run of deals that Mercer, headquartered in Denver, Colorado, has made, making it one of the most prominent M&A players in the North American wealth industry this year.

InCap Group advised KC on the deal; Robinson Bradshow acted as transaction counsel.

“Alex and H K have built a high-quality family office business staffed by an exceptional team of professionals. KC is a respected and fast-growing firm in North Carolina and beyond, and they significantly bolster our Southern presence,” David Barton, vice chairman at Mercer, said.