Fiera Capital to Acquire Integrated Asset Management

April 3, 2019

On March 22, 2019, Fiera Capital announced an agreement to acquire Integrated Asset Management.

Under the terms of the transaction, Fiera Capital Corporation (“Fiera”) will acquire all the outstanding common shares of Integrated Asset Management Corp. (“Integrated”). Integrated’s private debt investment team will join Fiera Private Lending and Integrated’s real estate team will join Fiera Properties. Including equity, the total consideration under the transaction is $74 million. Fiera will pay $55.5 million in cash and $18.5 million of Fiera Capital Class A subordinate voting shares as consideration and certain additional contingent value rights. If Integrated’s closing adjusted cash balance is greater than $10 million after the cost of the transaction, Integrated can declare and pay a special dividend to Integrated shareholders prior to closing. The deal is expected to close in the second quarter of 2019 and is subject to shareholder, court and regulatory approvals. Further terms of the deals were not disclosed.

Fiera, founded in 2003 and headquartered in Montreal, is an independent asset management firm specializing in multi-asset solutions to institutional, retail and private wealth clients. Fiera has $136.7 billion in assets under management as at December 31, 2018.

Integrated, founded in 1998, is a Canadian alternative asset management company specializing in real estate, private debt and infrastructure debt. Integrated has approximately $3.1 billion in assets and committed capital under management as of February 28, 2019.


Categories

Investment Manager M&A, Private Equity M&A, Transactions