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Announced

Peapack-Gladstone Financial to acquire Princeton Portfolio Strategies Group.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Asset Managers and Custodians

Single Bidder

Acquisition

Private

wealth management

Domestic

Pending

Majority

Friendly

Synopsis

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Peapack-Gladstone Financial, a New Jersey bank holding company agreed to acquire Princeton Portfolio Strategies Group, an employee-owned, SEC-registered investment advisory firm. Financial terms were not disclosed. "With a private banking office already located at Carnegie Center in Princeton, we were able to establish a quick and easy connection with PPSG. Combining the high-quality professionals from PPSG with our existing Princeton team is a win-win for both organizations and will allow us to accelerate our growth in this highly desirable market," John P. Babcock, Peapack Private Wealth Management President.

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