Aug. 1, 2022: LNC Acquires Wealth Management Business
Plus, Blue River advises on manufacturing acquisition, and XLCS advises on aerospace parts merger
Read the top headlines from Monday, August 1, 2022 below:
LNC Backs GCG Advisory Partners
Middle-market private equity firm LNC Partners, which focuses on financial and business services companies, has invested in GCG Advisory Partners, according to a press release. GCG is a wealth management company that provides a liquidity and succession planning platform for financial advisors. With the backing from LNC, GCG said it plans to accelerate growth via acquisitions and a strengthening of its existing platform strategy.
“LNC’s tailored investment structure and deep experience in the financial services sector clearly differentiated their firm from other potential investors,” noted GCG managing partner Joel Burris in a statement.
Blue River Advises Solve Industrial Motion’s MasterDrive Acquisition
Middle-market investment banking firm Blue River Financial Group announced via press release that it served as the exclusive M&A advisor to Solve Industrial Motion Group in its acquisition of MasterDrive. Solve Industrial Motion, backed by private equity firm Audax Private Equity, manufacturers bearings and power transmission components. Its acquisition of MasterDrive, a supplier and manufacturer of belts, pulleys and other industrial components, will enable Solve to expand its own product offering.
XLCS Advises Aerospace Parts Merger
XLCS Partners, a middle-market investment bank, announced in a recent press release that it served as exclusive advisor to Sentry Aerospace Corporation in its merger with Aerospares 2000 Limited. Sentry supplies aftermarket commercial aircraft spare parts, while Aerospares, based in England and backed by middle-market private equity firm Acorn Growth Companies, procures and stocks rare aircraft platform rotables. The merger will create “a leading independent stocking distributor of high value, hard-to-find commercial aircraft rotable components with global reach,” the press release stated.
Related content: Aerospace and Defense: Worth the Risk for PE Firms
