M&A Quarterly News In The Financial Services Industry Sector

M&A Quarterly News In The Financial Services Industry Sector

By David Sinyard

July 29, 2019

The report below gives a good overview of the third quarter M&A activity in the Financial Services Industry Sector. M&A activity for North American based target companies in the Financial Services sector for Q2 2019 included 220 closed deals, according to data published by industry data tracker FactSet.

One of the notable middle market transactions was announced in June when Intertrust NV acquired Viteos Fund Services, LLC, a portfolio company of FiveW Capital, LLC and PPC enterprises, LLC, for US$330 million in cash. Intertrust engages in the provision of private client, capital markets, corporate and fund services. Viteos Fund Services provides accounting, middle- and back-office outsourcing and licenses its platform to investment managers. The company was founded in 2003 and is headquartered in Somerset, NJ.

Industry Indicators

  • US corporate profits, an indicator of corporate demand for financial planning and investment advising, rose 3.1% in the first quarter of 2019 compared to the same period in 2018.
  • The bank prime loan rate, a tool for financial planners and investment advisers was 5.5% as of the week of June 13, 2019, up from a rate of 5% the same week in 2018.
  • US personal income, which is a driver for financial planning and investment services, rose 3.9% in March 2019 compared to the same month in 2018.
  • Total US revenue for other financial investment activities, which includes financial planners and investment advisors, fell 0.2% in the first quarter of 2019 compared to the previous year.

Posted by David Sinyard.

Read the Entire Financial Services 3rd Quarter Newsletter Here