Silvercrest Asset Management Group has inked a definitive agreement to purchase certain assets of Jamison, Eaton & Wood for nearly $12m.
Jamison, Eaton & Wood manages about $1bn in total assets, mainly for high-net-worth families. The firm operates with offices in Bedminster and Princeton, New Jersey.
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The deal, scheduled to be completed during the second quarter of 2015, will lead to the creation of a combined entity managing about $19bn in assets.
The acquisition amount will be paid in cash, notes, stock and deferred consideration in the form of a cash earnout.
Silvercrest CEO and president Richard Hough III commented, "Jamison has a proud 40-year history as an investment boutique, and is well-regarded for its client service and dedication to sound financial management."
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