Hales & Company Inc., an investment banking firm specializing in the insurance industry, announced the acquisition today of WFG Capital Advisors LP. Terms of the deal were not released.
The transaction enables the two organizations to capitalize on their respective, complementary strengths, Hales said. It added that the combination of the two firms would create a premier investment banking and advisory organization.
Harrisburg, Pa.-based WFG, founded in 1996, is a financial advisory firm focused on mergers and acquisitions and strategic consulting for the insurance industry.
Founded in 1973, Hales is one of the oldest firms providing mergers and acquisitions and corporate finance advice to insurance agents, brokers, insurance companies and related financial services businesses. Since 2005, the firm said it has completed insurance industry transactions worth more than $1 billion. The company has offices in New York, San Francisco, Chicago, Seattle, Los Angeles and Hartford, Conn.
Bob Seda, managing principal of Hales, said, "I firmly believe that, with the WFG professionals joining Hales, the depth and breadth of our people is unmatched in the insurance industry."
"We have always admired and respected Hales for its reputation and experience earned as industry leaders," said Rob Lieblein, president and chief executive officer of WFG.
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