Wunderlich Securities has closed an equity capital investment of up to US$40 million led by both Altamont Capital Partners and members of the company’s management team.
The funds will be used primarily to expand the Firm’s Private Client Wealth Management, Equity and Fixed Income Capital Markets and Investment Banking divisions.
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Gary Wunderlich, the Company’s founder and CEO, said: "We are pleased that this transaction has been completed and are moving forward with our strategy."
The retail financial advisor group stands to achieve even greater growth from Altamont’s capital infusion.
Jim Parrish, president, Private Client Group Wunderlich, said: "We are moving forward with our PCG expansion strategy and you will see great things from Wunderlich in 2014."
Formed in 1996, Wunderlich has grown significantly from a single office in Memphis with 8 professionals, to 29 offices in 16 states with more than 450 associated professionals, filling the regional void created by continued industry consolidation over the past few decades.
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By GlobalDataThe Company has made the INC 5000 List of fastest growing companies in each of the past four years.
Coil Investment Group, Wunderlich’s existing capital partner, has been associated with the Firm since 2007.
Alfred Ydstebo, Chairman of Wunderlich Investment Company, said: "We are very excited and look forward to working with Altamont to continue the success of Wunderlich."
Iain Bridges, Lionel Conacher and Keoni Schwartz will be joining the board of Wunderlich Investment Company. Mr. Conacher will also become Chairman of Wunderlich Securities (Broker Dealer). Mr. Conacher is a Senior Advisor for Altamont Capital Partners.
Prior to joining ACP, Mr. Conacher was the President and Chief Operating Officer of Thomas Weisel Partners, a San Francisco full-service investment bank, acquired by Stifel Financial Corp (NYSE: SF) in 2010.
Keoni Schwartz, managing director of Altamont said, "We are thrilled to partner with Gary and the rest of the Wunderlich management team to continue to build on the tremendous platform they have created. In addition, we are excited to add Lionel to the team, and believe that Lionel’s extensive experience in the industry will enable him to assist Wunderlich with its growth and expansion."
Keefe, Bruyette & Woods, Inc. served as Wunderlich’s exclusive financial advisor in the transaction.
