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New Deal


Announced

Carnegie Investment Counsel to merge with Crane Asset Management.

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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registered investment advisor

Acquisition

Pending

Domestic

Single Bidder

United States

Merger

Majority

Friendly

Asset Managers and Custodians

Private

Synopsis

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Carnegie Investment Counsel, a federally registered investment adviser, agreed to merge with Crane Asset Management, a full-service investment counseling firm. Financial terms were not disclosed. "Our firm is built to embrace the different strengths of advisors. Our advisors provide custom portfolio management centered around what is best for the client. I believe this approach enhances the client experience and keeps our team sharp. Crane Asset Management has had the same fiduciary approach with their clients at the center," Gary Wagner, Carnegie Investment Counsel Principal and COO.

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