CAPTRUST Continues Its M&A Streak

For more than a decade, independent advisor CAPTRUST has focused on expanding its business throughout the United States—and it doesn’t appear to be slowing down anytime soon.

Founded in 1997, the North Carolina-based company boasts $390 billion in client assets under advisement, including more than $45 billion in managed assets, providing investment advisory, asset management, and planning services to thousands of private clients and institutional investors in all 50 states. The firm also currently has more than 700 employees.

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CAPTRUST has made 41 acquisitions since 2006, including eight in 2018, and five last year. It has also already finalized three deals in 2020, including purchasing Wilmington, N.C.-based Fountain Financial Associates, Montgomery, AL-based Welch Hornsby, and Indiana-based Lakeside Wealth Management.

It looks like its M&A streak will continue: CAPTRUST just announced that it has found a capital partner in GTCR, a leading private equity firm. GTCR has made a 25 percent minority growth investment in CAPTRUST, bringing their valuation up to $1.25 billion—a significant increase in the company’s value.

“We see tremendous opportunities ahead, and to execute them successfully, we needed a strong capital partner,” Fielding Miller, CAPTRUST’s Co-Founder, Chairman, and CEO, said in a statement. “It was important to find a partner that not only understands our CAPTRUST mission, our people, and our strategy, but also respects our passionate commitment to independence and focus on the long-term. GTCR has a notable track record of partnering with companies considered to be best-in-class in their respective industries and helping them accelerate success.”

Chicago-based GTCR, which has invested more than $15 billion in over 200 companies, focuses on growth companies primarily in the financial services, business growth services, technology, media & telecommunications, and healthcare industries. As part of the deal, GTCR is receiving a minority interest in CAPTRUST with a minimum 7-year investment horizon. In addition, GTCR will hold two of the nine seats on CAPTRUST’s Board of Directors. The leadership and employees of CAPTRUST will continue to hold the majority interest in the firm, with CEO Miller remaining the largest shareholder.