Advisory firm Pathstone has agreed to acquire Virginia-based Dyson Capital Advisors for an undisclosed amount.
Founded in 2007 by Nicholas Perrins and Scott Darling, Dyson provides investment advice, personalised family office services, and administrative services to a select range of clients.
Perrins and Darling, who ran a single-family office prior to setting up the firm, was joined by Sarb Shah as a partner in 2013.
The firm is currently said to manage $3.5bn of assets on behalf of its approximately 80 clients.
Pathstone CEO Matthew Fleissig said: “We were impressed then by Dyson’s business, leadership, and forward-thinking view of the industry – and how well it aligned with our strategic plan.
“We are thrilled at the opportunity to finally bring our two firms together and, importantly, to continue to strengthen our presence in our current office locations. We will now be one of the largest independent advisory firms in the DC metro area.”
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By GlobalDataPathstone president Kelly Maregni noted that Dyson’s focus on private investments, client solutions, technology, and alternatives are particularly interesting to Pathstone.
The deal is expected to increase Pathstone’s total assets under advisement to around $38bn.
Following the transaction, the firm will have 14 locations with 295 team members.
As part of the deal, Pathstone’s offerings and full matrix of services will be made available to Dyson clients.
Commenting on the deal, Perrins said: “We are thrilled to be joining with long-time friends in the industry who share our collective vision.
It is fitting that clients brought us together, and as one firm our ability to serve those clients will be taken to the next level. The combined firms’ scale will benefit both organisations’ clients by delivering greater access to value-added client solutions.”
In 2019, Pathstone, which provides investment advice and family office services for families, family offices, and foundations and endowments, secured backing from Lovell Minnick Partners.
