On March 21, 2023, CI Financial Corp. announced that it will acquire Avalon Advisors, LLC.
Under the terms of the transaction, CI Financial Corp. (“CI”) will acquire Avalon Advisors, LLC (“Avalon”). The transaction is expected to close by May 2023, subject to regulatory and other customary closing conditions. Terms of the deal were not disclosed.
CI (NYSE: CIXX) is an independent company, based in Toronto, Canada, engaged in global asset management and wealth management advisory services. As of October, 2022, CI had approximately $364 billion in assets under management and advisement.
Avalon, based in Houston, is a registered investment adviser specializing in wealth planning services, including financial planning and investment management. As of March 3, 2022, Avalon had $8.4 billion in assets under management. Ardea Partners served as Avalon’s investment banker.
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