NEW YORK, May 07, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Catamount Management Group, LLC (“Catamount”) will join Focus partner firm Crestwood Advisors Group, LLC (“Crestwood”). This transaction is expected to close in the third quarter of 2019, subject to customary closing conditions.
Founded in 2003 by Louis Albanese, Catamount is a registered investment advisor based in Westport, Connecticut. Catamount provides wealth advisory and investment management services to high net worth individuals and families located primarily in southern Connecticut and the New York City area. The merger will enable Catamount to leverage Crestwood’s scale, resources and next generation talent for the benefit of Catamount’s clients, and ensure continuity of service by joining a like-minded firm. Catamount brings a strong and experienced team to Crestwood, which will support Crestwood’s continued growth and leadership in Fairfield County.
“We are excited to partner with Crestwood and believe that our partnership will elevate our clients’ experience,” said Albanese, President and Managing Partner of Catamount. “We have tremendous respect for the team at Crestwood and look forward to working together.”
“We immediately identified a cultural fit with the Catamount team and share in the same commitment to providing best-in-class wealth management solutions for our clients,” said Michael Eckton, CEO of Crestwood. “We are thrilled to announce our partnership and continue our growth with Focus’ support.”
“We are excited to announce Crestwood’s second transaction since becoming a Focus partner in 2017,” said Rudy Adolf, Founder, CEO and Chairman at Focus. “The partnership between Catamount and Crestwood will expand Crestwood’s presence in the ultra-high net worth and high net worth segments in the southern Connecticut market. This combination of resources, talent and expertise will benefit clients of both firms, again highlighting the value of our scale, network and M&A expertise to our partners.”
About Focus Financial Partners Inc.
Focus Financial Partners Inc. (FOCS) (“Focus”) is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.
About Crestwood Advisors Group, LLC
Crestwood Advisors Group, LLC is an independent investment management and wealth advisory firm headquartered in Boston, Massachusetts. Crestwood offers a suite of investment management and wealth management services to high net worth individuals and families located across the country. For more information about Crestwood, please visit www.crestwoodadvisors.com.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.
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