Deals & People February 10, 2012

Envestnet to Acquire Prima Capital

 

Envestnet Inc., a provider of wealth-management solutions for financial advisers, is acquiring Prima Capital Holding Inc.  

 

Reported by

Prima’s clientele includes regional broker/dealers, trust companies, independent registered investment advisers (RIAs), family offices and seven of the top 20 U.S. banks by total assets.

The acquisition of Prima enables Envestnet to deliver more research-based solutions to financial advisers and enhance its due diligence process.

Envestnet is acquiring Prima for $13.75 million in cash, subject to certain post-closing adjustments. The acquisition is expected to be complete by April 15, 2012.

 

«