NEW YORK, Dec. 11, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that Nexus Investment Management Inc. (“Nexus”) has entered into a definitive agreement to join the Focus partnership. The transaction is expected to close in the first quarter of 2020, subject to regulatory approval and other customary closing conditions.
Since 1988, Nexus has provided investment and wealth management services to high net worth individuals and families, foundations and endowments located across Canada. It has developed an integrated approach to portfolio management and wealth planning, establishing it as one of the most highly regarded firms in the Canadian independent market. This transaction continues Focus’ expansion in international markets.
“Our clients’ financial success has always been paramount,” said John Stevenson, President of Nexus. “Our partnership with Focus will provide assurance that we can continue to serve our clients with the same independent approach and personal service that they have valued for over 30 years, while at the same time capitalizing on the support that Focus offers a firm like ours.”
“We are excited for Nexus to join the Focus partnership,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “Nexus is a clear market leader and this transaction extends our track record of acquiring excellent firms, while also expanding our position in the highly attractive Canadian market. We believe that Nexus’ success with high net worth clients, together with its comprehensive service offering and strong leadership team, positions the firm to be a platform for future growth. We look forward to deploying our value-added resources to support Nexus’ entrepreneurial vision.”
Blair Franklin Capital Partners, a Toronto-based M&A advisory firm, served as financial advisor to Nexus for this transaction.
About Focus Financial Partners Inc.
Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”) is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.
About Nexus Investment Management Inc.
Nexus Investment Management Inc. (“Nexus”) is an independent investment counselling firm based in Toronto, Canada. Through the firm’s holistic service model, Nexus offers investment management and wealth planning services to high net worth individuals, families, foundations and endowments located across Canada. For more information about Nexus, please visit www.nexusinvestments.com.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.
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Source: Focus Financial Partners Inc.