Criterion Capital Joins EP Wealth in $500M Acquisition
Deal News | Feb 05, 2025 | EIN
EP Wealth Advisors, headquartered in Torrance, California, has started 2025 with a significant expansion in its Southeast presence by acquiring Nashville-based Criterion Capital Advisors, which manages assets worth $500 million. The acquisition aligns with EP Wealth's ongoing strategy of integrating fee-only advisors who are eager to support both organic growth and maintain a personal touch with clients. CEO Ryan Parker emphasized the importance of cultural alignment in acquisitions and highlighted the role of talent above geographic considerations. In 2024, EP Wealth made significant growth strides, adding approximately $10 billion in assets through various acquisitions. The company remains focused on its strategy brought forth since 2017, with help from Wealth Partners Capital Group, aiming for sustainable growth through improved technology, personalized client services, and talent acquisition. Despite its rapid growth, EP Wealth maintains a commitment to keeping its client-centric boutique approach, facilitated by its ownership structure and minority investments from entities like Berkshire Partners. Recently, the firm has strengthened its management structure, enhancing its operational framework. This acquisition news comes alongside another major industry deal by Mercer Global Advisors, marking a particularly active time for M&A in the Nashville region.
Sectors
- Financial Services
- Private Equity
- Investment Management
Geography
- United States – The article primarily discusses companies and activities based in the United States, including EP Wealth Advisors and Criterion Capital Advisors.
- Tennessee – Criterion Capital Advisors, the target of the acquisition, is based in Nashville, Tennessee, highlighting regional activities.
- California – EP Wealth Advisors is headquartered in Torrance, California, which situates its management and strategy operations.
Industry
- Financial Services – The article discusses EP Wealth Advisors, a firm in the financial services industry, specifically focusing on registered investment advisors (RIAs).
- Private Equity – The involvement of Berkshire Partners and the underlying M&A strategy discussed indicates the significance of private equity in the growth of EP Wealth Advisors.
- Investment Management – EP Wealth Advisors, handling substantial assets under management and integrating other RIAs, operates within the investment management industry.
Financials
- $500 million – The assets under management of Criterion Capital Advisors, which was acquired by EP Wealth Advisors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EP Wealth Advisors | Bidding Company | Company | A financial advisory firm that manages significant assets and engages in strategic acquisitions to boost its service offerings and geographic footprint. |
| Criterion Capital Advisors | Target Company | Company | A Nashville-based registered investment advisor with $500 million in assets, providing financial planning and tax services. |
| Allan Horner | Co-founder of Criterion Capital | Person | Leads the team at Criterion Capital Advisors, providing strategic direction and maintaining client relationships. |
| Ryan Parker | CEO of EP Wealth Advisors | Person | Oversees EP Wealth's strategy and expansion, focusing on maintaining a client-centric approach while growing the firm's capabilities. |
| Berkshire Partners | Investor | Company | Holds a minority stake in EP Wealth Advisors, supporting its growth strategy and financial backing. |
| Wealth Partners Capital Group | Investor | Company | Invested in EP Wealth Advisors and supports its M&A strategy as part of the firm's growth initiatives. |
| Rush Benton | Introduction facilitator | Person | Former head of M&A at Captrust who now runs an investment firm, introduced Criterion Capital to EP Wealth. |