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Carl Marks Securities LLC acted as exclusive financial advisor to National Investment Managers Inc., a nationally based and regionally operated retirement plan administration and investment management company, in the $42.5 million going private sale of the company to Columbus, Ohio-based private equity firm Stonehenge Partners Inc.
Founded in 2004, National Investment Managers is a holding company and a consolidator of pension plan administration, investment management and insurance businesses. Its strategy includes a custom-tailored acquisition formula for each acquired business, which allows local and regional entities to retain their autonomy while benefiting from the reach that a national presence offers. The company's approach also offers entrepreneurs in these businesses exit strategies suited to their specific needs.
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"National Investment Managers has built a leading platform for pension plan benefits administration targeting small business. Aligning itself with a highly respected private equity firm such as Stonehenge will further support its business model for continued growth and commitment to quality service," said Warren H. Feder, Carl Marks Partner.
"Carl Marks was an invaluable asset during the company's sale to Stonehenge," said Steven J. Ross, former CEO of National Investment Managers. "Going private was a complex process. The Carl Marks team helped us manage a complicated capital structure with five classes of preferred stock, senior debt, junior debt, seller notes and common shareholders, skillfully navigating the various interests to bring the deal to a successful close." |
Feder and Carl Marks associate Robert Naidoff from the firm's New York office and Vice President John Rakowski from the Virginia office led the financial advisory team.
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