WSFS to Purchase Business of Powdermill Financial

September 14, 2016

On August 3, 2016, WSFS Financial Corporation entered into an agreement to purchase the assets of Wilmington, Delaware-based Powdermill Financial Solutions LLC.

Powdermill Financial Solutions LLC (“Powerdermill”) will become a subsidiary of WSFS Financial Corporation (“WSFS”) under the terms of the transaction and employees of Powdermill will also become WSFS associates.

WSFS had approximately $5.8 billion in assets on its balance sheet as of June 30, 2016. It provides independent solutions to high net worth individuals, families and corporate executives.

To read the press release: please click here.


Categories

Investment Manager M&A, Transactions