Pryor Cashman Represents Guardian Capital in Acquiring Majority Stake in Alta Capital
On November 20, 2017, Pryor Cashman client Guardian Capital Group Limited ("Guardian"), a diversified financial services company listed on the Toronto Stock Exchange, agreed to acquire a 70% equity interest in Alta Capital Management, LLC, an SEC-registered investment adviser based in Salt Lake City, Utah. The purchase price will be $45 million at the closing, with additional contingent amounts of up to $10 million payable over 4 years after the closing. The acquisition will be made by Guardian through its U.S. affiliate Guardian Capital LLC.
The transaction is expected to close in early 2018, subject to certain closing conditions. A press release announcing the transaction can be read here.
The Pryor Cashman Team
Leading the representation of Guardian was Bertrand Fry, Partner and Co-Chair of Pryor Cashman’s Investment Management Group, Edward Normandin, a partner in the firm’s Corporate Group and Corporate Associates Francesca Djerejian and Bridget Henwood.
Partner Michael Dunworth, Counsel Rebecca Schmutter and Associate Taylor Weinstein advised on the tax-related aspects of the deal, while Counsel Matthew Young advised on employment issues.
