Overland Park, Kansas-based Mariner Wealth Advisors said Tuesday that it acquired New Haven, Connecticut-based middle-market M&A consultancy firm Woodbridge International.
The acquisition was finalized on Aug. 30, and Mariner expects to complete the integration of Woodbridge’s team and operations into its existing structure by the end of 2024.
Woodbridge will maintain its current offices and continue to operate under its established brand for “a period of time, ensuring continuity for its clients and employees,” according to Mariner.
Woodbridge, which also has a Cape Town, South Africa office, has a worldwide database of 8,400 private equity groups and 410,000 companies, according to a press release.
The transaction “significantly bolsters Mariner’s position as a comprehensive financial advisory firm, deepening its expertise in sell-side M&A advisory services,” it said.
Mariner said the acquisition will allow it to provide “enhanced M&A advisory services to its clients, leveraging Woodbridge’s global reach and industry-specific knowledge.”
“The integration of Woodbridge International into the Mariner family marks a transformative step in our mission to deliver comprehensive, client-focused financial services,” according to Marty Bicknell, CEO and President of Mariner.
“Woodbridge’s impressive history of successful transactions and its commitment to client-centric solutions align seamlessly with our core values,” he continued. “This acquisition enables us to broaden our service offerings, empowering our clients to navigate the complexities of M&A with greater confidence and precision.”
Over its history, Woodbridge “built a reputation for delivering exceptional results for its clients, focusing on maximizing value through innovative marketing strategies and a deep understanding of market dynamics,” according to Mariner.
“For our team, joining forces with Mariner opens up incredible avenues for growth,” according to Robert Koenig, CEO of Woodbridge International.
“We now have a clear path to potentially double our business within the next few years,” he added. “By expanding our offerings, we can cultivate idle leads and provide more value to clients than ever before. This is an exciting time for Woodbridge, especially as we aim to capture the anticipated wave of baby boomer business exits.”
The two firms have a “shared commitment to making a meaningful impact on the clients they serve,” according to the press release. “This cultural alignment is at the heart of the acquisition, enabling Mariner to enhance its service offerings at a time when 35% of financial advisors are expected to retire over the next decade and $17 trillion in small businesses are projected to be sold in the next 20 years. This acquisition strengthens Mariner’s ability to support its 1,200 business owner clients, particularly during key business transitions.”
Founded in 2006, Mariner and its affiliates advised on more than $245 billion in assets as of June 30.
In February, Mariner announced the acquisitions of Winter Park, Florida-based AndCo Consulting and Covington, Kentucky-based Fourth Street Performance Partners in a simultaneous transaction that added 100 associates and $104 billion in assets under advisement. In January, it acquired Sacramento-based Confluence Financial Planning.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.
