WealthTrust and High Net Worth Units of Lee Summer LP Merged

28 Sep, 2015, 09:00 ET from WealthTrust LLC

HOUSTON, Sept. 28, 2015 /PRNewswire/ -- WealthTrust LLC ("WealthTrust"), a leading wealth management company, announced today that a new company which will use the established WealthTrust name has been formed. It consists of the eight WealthTrust affiliates formerly owned by Falcon Investment Advisors and eight high net worth firms held by a Lee Equity Partners ("Lee") majority-owned entity.  Lee is the majority owner of the new WealthTrust, which has client assets of approximately $15 billion.

The newly-formed firm will be led by Holly D. Deem. Ms. Deem commented, "The combination creates an exciting opportunity for the merged organization. We believe WealthTrust's commitment to maintaining the separate identity and culture of its wealth management affiliates, while at the same time allowing them to leverage the resources of what we believe will be one of the industry's most innovative firms, will result in shared success and even greater opportunities for WealthTrust affiliates – and their clients."

George L. Ball, who will serve as Chairman of the combined company noted, "With the leadership of Holly Deem, a differentiated business model, and the backing of Lee Equity Partners, the new firm has an outstanding future. It has the potential to be the pacesetter for a new generation of wealth management firms."

Debt financing for the transaction was provided by an investor group led by MidCap Financial Services and included Garrison Investment Group. 

The corporation will be headquartered in Houston, Texas with approximately 250 employees within the operating company and its various highly successful affiliates around the country.   

About WealthTrust
WealthTrust LLC is a Houston based operating company. With 16 wealth management firms strategically located throughout the U.S., the combined firms represent approximately $15 billion in client assets. The firms provide wealth management services to select individuals and families.  WealthTrust supports each affiliate through administration offerings of compliance, finance, HR, operations, and technology. WealthTrust's geographical footprint, established integrated support services, and vision for growth make it a platform that is well-positioned to capitalize on current industry trends.

About Lee Equity Partners
Lee Equity Partners is a U.S. based middle-market private equity investment firm.  Lee Equity was founded by Thomas H. Lee and focuses on control buyouts and growth capital financings, typically investing $50 million to $150 million per transaction in companies with enterprise values of $100 million to $500 million. The firm seeks to partner with top-tier management teams to build companies with differentiated market position and high growth potential. Target sectors include business services, consumer/retail, distribution/logistics, financial services, healthcare services, and media.  For additional information, please visit www.leeequity.com.

 

SOURCE WealthTrust LLC