|Altamont Capital and Wunderlich Close on $40 Million Investment|
Memphis, TN and Palo Alto, CA: Wunderlich Securities (“Wunderlich”), a leading regional full service investment firm headquartered in Memphis, today announced that it closed an equity capital investment of up to $40 million led by both Altamont Capital Partners (“Altamont”), a private investment firm based in the San Francisco Bay Area, and members of the company’s management team. The funds will be used primarily to expand the Firm’s Private Client Wealth Management, Equity and Fixed Income Capital Markets and Investment Banking divisions. “We are pleased that this transaction has been completed and are moving forward with our strategy,” said Gary Wunderlich, the Company’s founder and CEO.
The retail financial advisor group stands to achieve even greater growth from Altamont’s capital infusion. “We are moving forward with our PCG expansion strategy and you will see great things from Wunderlich in 2014,” said Jim Parrish, President of Wunderlich’s Private Client Group.
Formed in 1996, Wunderlich has grown significantly from a single office in Memphis with 8 professionals, to 29 offices in 16 states with more than 450 associated professionals, filling the regional void created by continued industry consolidation over the past few decades. The Company has made the INC 5000 List of fastest growing companies in each of the past four years.
Coil Investment Group, Wunderlich's existing capital partner, has been associated with the Firm since 2007. “We are very excited and look forward to working with Altamont to continue the success of Wunderlich,” said Alfred Ydstebo, Chairman of Wunderlich Investment Company, the parent of Wunderlich and owner of Coil Investment Group.
Iain Bridges, Lionel Conacher and Keoni Schwartz will be joining the board of Wunderlich Investment Company. Mr. Conacher will also become Chairman of Wunderlich Securities (Broker Dealer). Mr. Conacher is a Senior Advisor for Altamont Capital Partners. Prior to joining ACP, Mr. Conacher was the President and Chief Operating Officer of Thomas Weisel Partners, a San Francisco full-service investment bank, acquired by Stifel Financial Corp (NYSE:SF) in 2010.
Commenting on the deal, Keoni Schwartz, Managing Director of Altamont said, “We are thrilled to partner with Gary and the rest of the Wunderlich management team to continue to build on the tremendous platform they have created. In addition, we are excited to add Lionel to the team, and believe that his extensive experience in the industry will enable him to assist Wunderlich with its growth and expansion.”
Keefe, Bruyette & Woods, Inc. served as Wunderlich’s exclusive financial advisor in the transaction.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with over $1 billion of capital under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The Firm’s principals have significant experience building business success stories across a range of industries, including financial services, business services, consumer/retail, industrials and healthcare.
About Wunderlich Securities
Established in 1996, Wunderlich is headquartered in Memphis, TN. The Firm caters to individual, corporations, non-profit organizations and institutional clients with financial advisory, brokerage, equity research and investment banking services. Wunderlich has 29 offices in 16 states and more than 450 associated professionals. For more information visit our website at www.wunderlichsecurities.com
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