On July 12, 2023, Prime Capital Investment Advisors announced it was forming a strategic partnership with Abry Partners.
As part of the transaction, Abry Partners (“Abry”) will acquire an equity interest in Prime Capital Investment Advisors (“PCIA”), provide additional investment capital, and join the PCIA board. The transaction is expected to close on August 1, 2023. Further terms of the deal were not disclosed.
Abry, based in Boston, Massachusetts, is a private equity investment firm that specializes in media, communications, business and information services. Abry manages over $5 billion of capital across its active funds.
PCIA, based in Overland Park, Kansas, is a registered investment advisor that provides financial planning, including fee-based asset management and wealth management, retirement plan advisory services, and plan participant education. As of June 20, 2023, PCIA managed over $16 billion in assets under management. Park Sutton Advisors served as the exclusive financial advisor to PCIA on the transaction.
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