On July 30, 2018, Lorne Park Capital Partners announced that it signed a definitive agreement to acquire Adaptive Asset Management.
Under the terms of the agreement, Lorne Park Capital Partners Inc. (“Lorne Park Capital Partners”) will purchase all of the outstanding securities of Adaptive Asset Management Ltd.’s (“Adaptive Asset Management”) parent company for $350,000 composed of 5000 common shares of Lorne Park Capital Partners and $75,000 in cash in each the first and second anniversary of the closing date pursuant to a share purchase agreement. The transaction is subject to customary closing conditions, including TSX Venture Exchange approval. Further terms of the deal were not disclosed.
Lorne Park Capital Partners (TSXV: LPC), based in Oakville, Canada, is a boutique investment management and wealth advisory firm.
Adaptive Asset Management is a Toronto-based independent portfolio manager that specializes in ETFs and fixed income portfolios. Adaptive Asset Management had approximately $130 million in assets under management as of June 30, 2018.
To read the press release: please click here