On September 27, 2022, Audax Private Equity announced an investment in Harbourfront Wealth Management.
Under the terms of the transaction, Audax Private Equity has made a nine-figure investment in Harbourfront Wealth Management (“Harbourfront”). The transaction values Harbourfront at CAD $425 million. Harbourfront distributed dividends to shareholders before the closing of the transaction, which took place on September 9, pending regulatory approvals. Harbourfront’s executive leadership team will remain in place.
Audax Private Equity, based in Boston, is the private equity division of the investment management firm Audax Group. Audax Private Equity focuses on leveraged investments in lower middle market companies and has a $3.5 billion fund.
Harbourfront, based in Vancouver, is a wealth management firm with over $2 billion in assets under management. Harbourfront received financial advice on the transaction from the investment banking and consulting firm Raymond James.
To read the press release: please click here.