Alvarez & Marsal Corporate Finance acted as the exclusive financial advisor to NG Holdings Canada on its successful acquisition of PI Financial for a total cash investment of over C$100 million ($74.117 million).
NHCL is owned by Canadian entrepreneur Gary Ng, president and CEO of NG Holdings Canada and co-founder of the Chippingham Financial Group.
PI is a, independent Canadian full-service investment dealer which provides a wide range of investment products and services to individual, corporate and institutional investors and employs over 300 people.
“A&M Corporate Finance was actively involved as our advisor throughout the acquisition,” said Ng. “This is the second transaction that we have completed with A&M’s assistance. The firm serves as a key partner that has been instrumental in our plan to consolidate the independent investment management space. We are extremely pleased with the outcome and appreciate A&M’s market knowledge and the transaction support they brought to this situation.”
Hugh Rowan-Legg, managing director and head of A&M Corporate Finance in Canada, added, “We’re very proud to have worked with Mr. Ng on this second acquisition. A&M’s operational heritage and our roll up our sleeves attitude align with Mr. Ng’s rich entrepreneurial history. We look forward to seeing PI’s continued growth under his new ownership.”
A&M worked closely with the NHCL management team throughout the transaction.