Kelso & Company to acquire a 25% stake in Wellington-Altus for $285m.

Kelso & Company, a middle market private equity firm, agreed to acquire a 25% stake in Wellington-Altus, a financial services wealth management company located in Winnipeg, for $285m. "We are thrilled to welcome Kelso as our new strategic equity partner. Kelso's pioneering history in employee share ownership and substantial experience in the wealth advisory marketplace make them an ideal partner as we continue to lead the evolution of wealth management in Canada. This transaction also enables our advisors and employees--our largest shareholder group--to unlock additional value from their investments. At the same time, Wellington-Altus remains very well capitalized with no net debt and strong growth prospects," Shaun Hauser, Wellington-Altus Founder & CEO.