Brightwood Capital Advisors, a private credit firm focused on middle-market companies, and Coastline Wealth Management, a growing independent wealth management platform, closed a senior secured credit facility to support Coastline’s continued growth and acquisition strategy.
Concurrently with this financing, Coastline also completed 12 acquisitions, consisting of a combination of full and partial practice acquisitions, bringing Coastline’s total assets under management and administration to more than $6 billion.
The new financing from Brightwood provides Coastline access to additional significant capital to support its acquisition pipeline and to invest in its advisor platform.
“Surpassing $6 billion in assets is an exciting milestone and, more importantly, a reflection of the quality of the advisors and teams who continue to choose to build their future with us,” Garrett Taylor, CEO of Coastline Wealth Management, said. “It was essential to us that we worked with a private credit team that reflected the same quality and belief in what we are building. It was clear early on that Brightwood understood our business, our acquisition strategy and this opportunity for growth. Their investment gives us the financial depth to execute our growth plan, expand our platform through strategic acquisitions, and continue building the resources our advisors need to best serve their clients.”
Chris Warren, managing director and co-head of capital markets at Brightwood Capital, added, “We are excited to partner with Coastline at such an important point in the company’s growth and at a time where so many financial advisors are looking for exactly the type of solutions Coastline provides. Their team has built a strong platform, a respected brand and an approach designed to meet the needs of wealth professionals at a range of pivotal points in their respective careers. We were pleased to provide a financing solution that supports the company’s immediate acquisition needs while giving the business the flexibility to pursue future opportunities, and we look forward to working with the Coastline team as they continue to grow.”
Brightwood served as the sole lender and administrative agent for the transaction.
