On October 17, 2018, PMA Financial Network announced that Estancia Capital Partners and PMA Financial Network’s senior management team had reached a definitive agreement to acquire it.
Under the terms of the transaction, Estancia Capital Management (“Estancia”) and PMA Financial Network’s (“PMA”) senior management team will acquire PMA from the original founders, including current PMA President Michael English and other members of the English family. Further terms of the deal were not disclosed. The deal is expected to close in the fourth quarter of 2018, subject to customary closing conditions, including regulatory approvals.
PMA is a provider of comprehensive financial and advisory services to municipalities, school districts, and other local governmental entities. PMA’s integrated companies include Prudent Man Advisors, Inc., PMA Financial Network, Inc. and PMA Securities, Inc.
Estancia is a private equity firm focused on lower-middle market investments. Sandler O’Neill + Partners, L.P served as financial advisor to Estancia in connection with this transaction.
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