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Estancia Capital Partners Backs Management Buyout of Trading Services Firm Abel Noser.


15 July 2016 - US-based private equity firm Estancia Capital Partners has invested in US-based trading services and trade analytics firm Abel Noser as part of a management-led buyout by the second-generation management team of the firm, the firm said.

Abel Noser founders Stanley Abel and Eugene Noser, Jr. have agreed to the deal.

The agreement finalises the planned transition of the business to the existing senior management team.

Abel Noser will continue its existing businesses, including trading cost analytics services, transaction compliance and agency-only brokerage inclusive of transition management services, with no disruption to the continued delivery of these services to clients.

The firm will be led by CEO Ted Morgan, former chief operating officer of Abel Noser Solutions and previously a vice president at Accenture.

Peter Weiler will serve as president of Abel Noser Solutions, the firm's financial technology subsidiary.

Anthony Conroy will be president of Abel Noser LLC, the firm's brokerage arm. Randy New will be chief technology officer, andJames Noser has been appointed executive committee chairman.

Abel Noser's transaction cost analysis provides clients with invaluable analytical information about the performance of their equity, foreign exchange and futures trading to optimize strategies. These data also inform custom trade execution for clients through the firm's personalized trading services.

The transaction is subject to regulatory approvals and other customary closing conditions. Lowenstein Sandler LLP provided legal counsel to the management team.

Founded in 1975 by Stanley S. Abel and Eugene A. Noser, Jr., Abel Noser has long been respected as a leader in the campaign to lower the costs associated with trading. The company provides a range of effective trading services and trade analytics globally to institutional asset owners, investment managers and brokers.

Goodwin LLP provided legal counsel to Estancia. BlackSterling Partners, LLC provided advisory services to Estancia and is a co-investor in the transaction.

Morgan, Lewis and Bockius LLP provided legal counsel and Keefe, Bruyette and Woods, Inc. provided advisory services to the company.

Country: USA

Sector: Banking/Financial Services

Target: Abel Noser

Buyer: Estancia Capital Partners, 2nd generation management team

Vendor: Stanley Abel and Eugene Noser, Jr.

Deal size in USD:

Type: MBO


Status: Agreed

Buyer advisor: Goodwin LLP , BlackSterling Partners, LLC ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Jul 15, 2016
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