The St a t e o f M&A i n Kansas C i t y CC CAP I TAL ADV I SORS 2021
Reaching New Heights
THE PAST YEAR SAW CONTINUED OPTIMISM ON FINANCIAL FRONTS AS THE ECONOMY AND FINANCIAL MARKETS GAINED UNPARALLELED MOMENTUM DESPITE LABOR SHORTAGES AND SUPPLY CHAIN CONSTRAINT HEADWINDS THAT OCCURRED IN THE LATTER HALF OF THE YEAR. That optimism helped shape a banner year for M&A both domestically and globally, as record liquidity and favorable financing costs, coupled with confidence in the pandemic recovery, led to unprecedented deal volume and premium valuations. Given the current economic landscape, we expect dealmaking to continue at a high rate in 2022, with inflation and rising interest rates posing as potential threats to confidence in the economy.
The 2021 CC Capital Advisors State of M&A Report examined a record 253 transactions involving Kansas City-area companies, a year- over-year increase of 43%. Momentum that began building in the second half of 2020 continued throughout 2021 resulting in increased deal activity. The 253-transaction count is the highest in the 17 years of this report. Many of the macro factors seen in previous years continued to fuel deal-making, as ample liquidity, robust private equity dry powder, and a favorable lending environment combined with overall confidence in the pandemic recovery drove the record activity. Globally, M&A volume reached record highs, surpassing $5 trillion in deal value. The United States led the charge, with a record total deal valuation exceeding $2.5 trillion. Some of the top U.S. deals included a couple of local sellers: Kansas City Southern’s sale to Canadian Pacific Railway for $31 billion and Cerner’s pending sale to Oracle for $28 billion were some of the largest M&A deals nationwide.
Other noteworthy U.S. deals include: Discovery Inc.’s sale to AT&T for $43 billion, Medline Industries’ sale to Blackstone, The Carlyle Group, Hellman & Friedman, and others for $34 billion, and PPD, Inc.’s sale to Thermo Fisher Scientific for $17 billion. Locally, the M&A environment played out in a similar fashion to the broader global market, as Kansas City saw strong activity in the Financial Institutions, Technology, and Healthcare/Life Sciences sectors. Financial Institutions led the way with 51 transactions, Technology was a close second at 48, and Healthcare/Life Sciences tallied 36 deals. A few notable transactions from the past year, in addition to the aforementioned Kansas City Southern and Cerner deals, include the sale of QTS Realty Trust to The Blackstone Group for $10 billion, the reverse merger of Northern Genesis Acquisition Corp. with Embark Trucks, Inc. for $4.6 billion, and the sale of NIC, Inc. to Tyler Technologies for $2.3 billion.
YEAR IN REVIEW CC Capital Advisors had a record 2021 advising several high-quality local companies across a number of industries and transaction-types. The team advised nine successful transactions at a combined value of more than $350 million, as valuations continue to rise and companies search for growth.
TO P D E A LS I N 2021*
LOCAL BUYER, LOCAL SELLER, OR BOTH
TRANSACTION GEOGRAPHY
CROSS BORD E R 9 Transactions
$31.0 billion — $28.3 billion — Sale of Cerner (Nasdaq:CERN) to Oracle Corporation (NYSE:ORCL) $10.0 billion — Sale of QTS Realty Trust (NYSE:QTS) to The Blackstone Group (NYSE:BX) $4.6 billion — $2.3 billion — Sale of NIC, Inc. (Nasdaq:EGOV) to Tyler Technologies (NYSE:TYL) Sale of Kansas City Southern (NYSE:KSU) to Canadian Pacific Railway (NYSE:CP) Reverse Merger of Northern Genesis Acquisition Corp. and Embark Trucks, Inc. (Nasdaq:EMBK)
Local Buyer and Local Seller 39 Deals
MISSOURI 86 Deals
KANSAS 158 Deals
Local Buyer 94 Deals
I N T E RNAT I ONA L 23 Transactions
253 TOTAL DEALS
Local Seller 120 Deals
Note: * This list of top deals is compiled from the limited number of transactions for which terms were disclosed. Many deals do not disclose pricing and thus are not included on this list.
34% Financial
STRATEGIC VS FINANCIAL
66% Strategic
DEALS BY INDUSTRY
51 36
48
253
HISTORICAL M&A ACTIVITY BY QUARTER
28 21
24
15
207
7 3
14
195
10
6
3 6 182
177
5 0
4 7
160
149 151
5 2
144
7 1
132 137
4 3
130
5 0
128 126
3 4
Architecture/ Engineering Construction
Consumer Products & Services
Energy/Utility & Infrastructure
Financial Institutions
Food/Agriculture & Animal Health
Healthcare/ Life Sciences
Manufacturing & Distribution
Professional Services/ Advisory
Technology/Media & Telecom
Transportation & Logistics
3 7
4 4
5 1
4 6
114
2 8
3 7
3 3
3 3
3 0
4 4
3 3
3 8
2 5
4 5
3 2
5 7
3 3
Q4 Q3 Q2 Q1
2 7 2 9
3 2
4 3
3 7
5 2
4 5
5 8
3 1
3 2
4 3
4 1
3 2
2 8
3 1
2 9
2 6
2 7 2 8
2 7 2 3
5 7
5 7
5 1
5 2
4 9
4 1
4 0
3 9
3 4
3 6
3 9
3 4
3 3
TOP DEAL MAKERS
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
LOCAL M&A ACTIVITY BY MONTH
Mariner Wealth Advisors
14
6
Creative Planning, Inc.
28
253
26
25
25
25
4
Terracon Consultants, Inc.
23
20
19
4 4
ProPharma Group Holdings, LLC
17
16
15
14
Aria Care Partners
Monthly Deals Cumulative Deals
2
4
6
8
10
12
14
16
0
N U M B E R O F T R A N S A C T I O N S
JAN
FEB
MAR
APR
MAY
JUN JUL
AUG
SEP
OCT
NOV
DEC
2021 KANSAS C I T Y AR E A T RANSACT I ONS
Trends to Consider M&A RECORDS WERE SMASHED IN 2021 AS DEAL VOLUME AND VALUATIONS REACHED UNPARALLELED HEIGHTS. The pandemic motivated many sellers to contemplate a sale sooner than they may have otherwise. A market filled with an abundance of determined buyers flush with cash matched with motivated sellers has driven valuations upward. Despite record-high valuations, we expect dealmaking to continue as companies utilize record cash balances to turn to M&A as a means for growth and to remain competitive in their respective markets. Additionally, fears of potential tax increases motivated sellers to execute deals prior to year-end. Any upcoming tax legislation proposals will be worth monitoring and could impact M&A activity again in 2022. This year will bring new opportunities and challenges as record valuations, evolving monetary policy, the labor market, and supply chain constraints take center stage as central issues and trends:
INDUSTRY
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
Q1 JANUARY Healthcare/Life Sciences
IntelligeneCG, LLC
Olathe, KS
Entirety
Ardiah Group, LLC
Overland Park, KS
VersaFlex Incorporated (Kansas City, KS)
PPG Industries, Inc. (NYSE:PPG)
Manufacturing/Distribution
DalFort Capital Partners
Dallas, TX
Pittsburgh, PA
Technology/Media/Telecom GEOS Worldwide Limited Consumer Products & Services Cranney Companies, Inc.
Montgomery, TX
Assets Entirety
Garmin International, Inc. Olathe, KS
Danvers, MA
The Flint Group, LLC
Kansas City, MO
Consumer Products & Services TITLE Boxing Club International, LLC Overland Park, KS Entirety
BoxUnion Holdings, LLC Santa Monica, CA
54 Wendy's Restaurants
Consumer Products & Services NPC International
Leawood, KS
Yellow Cab Holdings
Thorndale, PA
Healthcare/Life Sciences
Knit-Rite, Inc.
Kansas City, KS
Entirety
Thuasne SAS
Levallois-Perret, France
USI Insurance Services, LLC South Western Communications, Inc.
Financial Institutions
Creative Planning, Inc.
Overland Park, KS Creative Planning Benefits Division
Valhalla, NY
Architecture/Engineering & Construction
All Systems, Inc.
Kansas City, KS
Entirety
Newburgh, IN
RECORD VALUATIONS Strong U.S. GDP growth, large corporate cash balances, and a continued low interest rate environment have helped foster a sustained M&A appetite. Private Equity buyers remain active and will likely continue to be so in 2022. The amount of dry powder and capital from new funds available to deploy remains at record highs. The competition amongst the large pool of enthusiastic buyers has led to a willingness to “pay up” for acquisition assets, contributing to the continued rise of valuations to these record levels. INFLATIONARY PRESSURES After years of quantitative easing and aggressive government spending, the Federal Reserve’s response to price increases will be one to watch, as it focuses on balance sheet tapering and multiple rate increases throughout this next year. Rising interest rates would lead to increased financing costs for acquirers. The looming threat of increasing rates could impact acquirers that rely heavily on financial leverage to complete acquisitions, likely motivating them to complete deals sooner rather than later. Over time, increased interest rates will impact stock market valuations, which would likely translate to lower M&A valuations. LABOR Across many industries, a shrinking workforce has been a concern for business owners. Workers taking early-retirements, an evolving post-pandemic employee landscape, and a labor force that has been leaping to better paying jobs have all shaped a tightening pool of workers. Employers are faced with the challenge of
attracting workers from a decreasing pool of willing and skilled labor, driving wages up and resulting in slower growth and lower profitability. With this shortage in the skilled labor market, many companies will turn to M&A as a near-term solution to fill their employee base via acquisitions. SUPPLY CHAIN CONSTRAINTS Supply chain disruptions have played a key role in inhibiting growth for companies. Logistical obstacles in the market, a rebound in consumer demand, a shortage of supply chain labor to fulfill demand, and a shortage of shipping containers have all led to massive bottlenecks for the flow of goods. Companies have been forced to adapt to supply chain challenges, and businesses could turn to M&A as part of vertical integration strategies to mitigate supply chain risk in the future. Despite any headwinds that emerged in the latter half of 2021, the overall economy is trending positively, and M&A activity continues to point towards strong activity and valuations in 2022. So how can business owners navigate this ever-changing environment? Do you have a strategy in place to take advantage of historically high valuation multiples? Is your business prepared for a pending transition? There are many challenges to confront and factors to evaluate when contemplating the purchase or sale of a business. If your company is considering a transaction in 2022 – or just looking for strategic advice on succession planning or raising capital – be sure to engage a qualified advisor who can help provide the integrity and experience you need to make important growth decisions.
Unknown Ownership Stake Doosan Bobcat
Manufacturing/Distribution
Ainstein AI
Lawrence, KS
Seoul, South Korea
Architecture/Engineering & Construction
Burleson Consulting, Inc.
Marina, CA
Entirety
Terracon Consultants, Inc. Olathe, KS
Western Capital Resources, Inc.
Manufacturing/Distribution
Swisher, Inc.
Warrensburg, MO Entirety
Omaha, NE
Kendall Pointe Surgery Center, LLC
Healthcare/Life Sciences
Oswego, IL
Entirety
ValueHealth, LLC
Leawood, KS
Atonix Digital, LLC (Management Buyout)
Technology/Media/Telecom Black & Veatch Holding Company Overland Park, KS
Group of Investors
Overland Park, KS
American Safety Council, Inc. MGP Ingredients, Inc. (Nasdaq:MGPI)
Professional Services/Advisory S/P2
Overland Park, KS Entirety
Orlando, FL
Consumer Products & Services Luxco, Inc.
Saint Louis, MO
Entirety
Atchison, KS
Technology/Media/Telecom Catholic Faith Technologies, LLC Overland Park, KS Entirety
Nelnet, Inc.
Lincoln, NE
INDUSTRY
INDUSTRY
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
Q1 FEBRUARY Professional Services/Advisory Wellington
Q1 MARCH Technology/Media/Telecom Employee Vitals
Overland Park, KS Entirety Lake Forest Park, WA Entirety Prairie Village, KS Entirety
Augeo
St. Paul, MN
Overland Park, KS Entirety
Selflessly, Inc.
Indianapolis, IN
Consumer Products & Services Town Center Hardware Professional Services/Advisory i. BossWell, Inc.
Westlake Hardware, Inc. Lenexa, KS
Focus Financial Partners (Nasdaq:FOCS) Terracon Consultants, Inc.
Financial Institutions
Prairie Capital Management, LLC Kansas City, MO
Entirety
New York, NY
Wayne M. Powell Winco Fireworks International, LLC
Kansas City, MO
Architecture/Engineering & Construction
Wholesale and Retail Divisions
GET Solutions, Inc.
Virginia Beach, VA
Entirety
Olathe, KS
Consumer Products & Services Victory Fireworks
Ellsworth, WI
Grandview, MO
Geriatric Practice Management Corp
Netsmart Technologies, Inc.
Essex, United Kingdom
Healthcare/Life Sciences
Asheville, NC
Entirety
Overland Park, KS
Manufacturing/Distribution
Durite Limited
Entirety
Safe Fleet Holdings, LLC Belton, MO
Retina Consultants of America ProPharma Group Holdings, LLC Penske Commercial Vehicles US, LLC
Technology/Media/Telecom KVG Partners; Reimagined Ventures
N/A
Paragon Mobile
Zego, Inc.
Kansas City, MO
Healthcare/Life Sciences
Retina Associates, LLC
Shawnee Mission, KS Entirety
Southlake, TX
Retirement Plan Division
Financial Institutions
Iron Financial, LLC
Northbrook, IL
Creative Planning, Inc.
Overland Park, KS
Diamond Pharma Services Limited
Harlow, United Kingdom
Healthcare/Life Sciences
Entirety
Overland Park, KS
Crimson Midstream Holdings, LLC Tortoise Acquisition Corp. II (Reverse Merger)
CorEnergy Infrastructure Trust (NYSE:CORR)
Energy/Utility & Infrastructure Carlyle Investment Management
Washington, DC
Kansas City, MO
Kansas City Freightliner Division
Consumer Products & Services Westfall O'Dell Dealer Group
Kansas City, MO
Dallas, TX
Volta Industries, Inc. (NYSE:VLTA)
Energy/Utility & Infrastructure Tortoise Sponsor II, LLC
Leawood, KS
San Francisco, CA
Consumer Products & Services Jay Hatfield Mobility, LLC Lee's Summit, MO Entirety
Mobility Works
Akron, OH
The Blueprint Insurance Services
Financial Institutions
San Diego, CA
Entirety
Lockton, Inc.
Kansas City, MO
Tranquil Lakes Investment Advisors
Ameriprise Financial, Inc. (NYSE:AMP)
Financial Institutions
Waddell & Reed Financial, Inc. Madison, WI
Minneapolis, MN
Tyler Technologies, Inc. (NYSE:TYL) Buyers Edge Platform, LLC
Technology/Media/Telecom NIC, Inc. (Nasdaq:EGOV)
Olathe, KS
Entirety
Plano, TX
Group Purchasing & Beverage Consulting Divisions
Consumer Products & Services Twilight Solutions, Inc.
Walnut Creek, CA
Entirety
Bravas, LLC
Overland Park, KS
Professional Services/Advisory Proairus Innovations, LLC
Lawrence, KS
Waltham, MA
PBMA Division of Piraeus Bank
Euronet Worldwide, Inc. (Nasdaq:EEFT)
Financial Institutions
Piraeus Financial Holdings S.A. Athens, Greece
Leawood, KS
Consumer Edge Research, LLC
Professional Services/Advisory Savvr, LLC
Kansas City, MO
Entirety
New York, NY
Financial Institutions
Kendall Bank
Valley Falls, KS
Entirety Entirety
Mark Emley Group
Overland Park, KS Mission Woods, KS
Technology/Media/Telecom Health Outcomes Sciences, Inc. Overland Park, KS Assets
Terumo Corporation GlynnDevins, Inc.
Tokyo, Japan
Manufacturing/Distribution
Realm Companies, LLC
Newton, IA
Great Range Capital
Technology/Media/Telecom Bluespire
Minneapolis, MN
Entirety
Kansas City, MO
DePere and Harvard Milk Processing Plants South American Plant Nutrition Business
Food/Agriculture & Animal Health
Dairy Farmers of America, Inc.
Kansas City, KS
NDSM Holdings
Dallas, TX
Food/Agriculture & Animal Health
Compass Minerals International, Inc. (NYSE:CMP) Overland Park, KS
ICL Group, Ltd.
Tel Aviv, Israel
Specialty Insurance Solutions, Inc.
RSC Insurance Brokerage, Inc.
Financial Institutions
Lenexa, KS
Entirety
Boston, MA
Aquiline Capital Partners; Stone Point Capital
Technology/Media/Telecom JLL Partners
New York, NY
Xact Data Discovery
New York, NY
Professional Services/Advisory Paydayz Staffing Solutions, Inc. Olathe, KS
Entirety
Execupay, Inc.
San Antonio, TX
Standex International Corporation (NYSE:SXI)
Enginetics Corporation
Manufacturing/Distribution
Salem, NH
Enjet Aero, LLC
Overland Park, KS
INDUSTRY
INDUSTRY
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
Q2 MAY Healthcare/Life Sciences
Q2 APRIL
Sun Drainage Products/Sigma Corp Trench Drain Sphere Wealth Management, LLC
Thrive Health Connection The Birken Manufacturing Company, LLC
Kansas City, MO
Entirety
Vivent Health
Milwaukee, WI
Manufacturing/Distribution
Cream Ridge, NJ
Entirety
Sioux Chief Mfg. Co., Inc.
Kansas City, MO
Manufacturing/Distribution
Bloomfield, CT
Entirety
Enjet Aero, LLC
Overland Park, KS
Prime Capital Investment Advisors, LLC
Financial Institutions
Fayetteville, AK
Entirety
Overland Park, KS
PIVVOT, LLC (Kansas City, MO)
Technology/Media/Telecom New Mountain Capital, LLC New York, NY
Terracon Consultants, Inc. Olathe, KS
Herbert L. Flake Company, LLC
Manufacturing/Distribution
Supply Chain Equity Partners Tampa, FL
Banner Solutions
Kansas City, MO
Technology/Media/Telecom Data Migration Resources, Inc. Mission, KS
Entirety
Syniti
Needham, MA
Architecture/Engineering & Construction
Sport Environmental Services, LLC
W. D. Laramore Manufacturing, Inc.
Shick Esteve Linxis Group Propio Language Services, LLC
Midland, TX
Entirety
Terracon Consultants, Inc. Olathe, KS
Manufacturing/Distribution
Thomasville, GA
Entirety
Kansas City, MO
HUB International Limited
Financial Institutions
KC Insurance Group, LLP
Overland Park, KS Entirety
Chicago, IL
Professional Services/Advisory Vocalink Global
Dayton, OH
Entirety
Overland Park, KS
Sterling Dental of North America, LLC
Consumer Products & Services ZuPreem
Shawnee, KS
Entirety
Manna Pro Products, LLC Chesterfield, MO
Healthcare/Life Sciences
Oklahoma City, OK Entirety
Aria Care Partners
Overland Park, KS
Certain North America Micronutrient Assets
Food/Agriculture & Animal Health
Compass Minerals International, Inc. (NYSE:CMP) Overland Park, KS
Koch Agronomic Services, LLC
Healthcare/Life Sciences Architecture/Engineering & Construction
Dest Dental Management, LLC Kings Mountain, NC Entirety
Aria Care Partners
Overland Park, KS
Wichita, KS
Berkeley Building Company, Inc.
Meridian, ID
Entirety
Summit Homes
Lee's Summit, MO
WANRack, LLC (Lenexa, KS)
CBRE Caledon Capital Management, Inc. Mission Peak Capital Advisors, LLC
Technology/Media/Telecom Grain Management, LLC
Sarasota, FL
Toronto, Canada
Technology/Media/Telecom Cytek Corporation
Kansas City, MO
Entirety
Group of Investors Shaddock National Holdings ProPharma Group Holdings, LLC Airtasker Limited
Kansas City, MO
Financial Institutions
Mount Street Group Limited London, England
Majority Stake
Kansas City, MO
Professional Services/Advisory Continental Title Company
Overland Park, KS Entirety
Plano, TX
The Planet Group (Deerfield, IL)
Sullivan, Bruyette, Speros & Blayney, LLC
Healthcare/Life Sciences
MidOcean Partners, LLP
New York, NY
Overland Park, KS
Financial Institutions
McLean, VA
Entirety
Creative Planning, Inc.
Overland Park, KS
Technology/Media/Telecom Zaarly, Inc.
Kansas City, MO
Entirety Entirety
Sydney, Australia
Ground Freight Expeditors
Transportation & Logistics
Paris Brothers, Inc.
Kansas City, MO
Allstates WorldCargo, Inc. Bayville, NJ
Technology/Media/Telecom AeroData, Inc.
Scottsdale, AZ
Garmin International, Inc. Olathe, KS
Technology/Media/Telecom Zeledon-Castillo, LLC
San Antonio, TX
e-Discovery Assets Xact Data Discovery
Mission, KS
Healthcare/Life Sciences
Konza Valley Capital, Inc.
Overland Park, KS Majority Stake in KCAS, LLC
Vitruvian Partners, LLP London, England
Anthem Sports & Entertainment Corp.
Technology/Media/Telecom Invicta Fighting Championships
Kansas City, MO
Entirety
Toronto, Canada
Remaining Shares of Farmobile, LLC (Leawood, KS)
Amsterdam, Netherlands
Ag Growth International, Inc.
Technology/Media/Telecom Anterra Capital
Winnipeg, Canada
Technology/Media/Telecom Lexolution, LLC
New York, NY
Entirety
Xact Data Discovery
Mission, KS
Stackify, LLC (Leawood, KS)
Technology/Media/Telecom Cypress Growth Capital, LLC Dallas, TX
Netreo, Inc.
Irvine, CA
Technology/Media/Telecom The Purple Guys
Kansas City, KS
Entirety
My IT, LLC
Metairie, LA
BeerKC Restaurant Group
Consumer Products & Services Port Fonda
Kansas City, MO
Entirety
Kansas City, KS
Healthcare/Life Sciences
OB Healthcare Corporation Lenexa, KS
Operating Assets InfuSystem Holdings, Inc. (NYSE:INFU) Rochester Hills, MI
Burns & McDonnell Credit Union
CommunityAmerica Credit Union Seaboard Energy California, LLC Graphic Packaging (NYSE:GPK) Creative Planning, Inc.
Financial Institutions
Kansas City, MO
Merger
Lenexa, KS
Energy/Utility & Infrastructure Pacific Ethanol Madera, LLC Madera, CA
Madera Facility
Shawnee Mission, KS
Manufacturing/Distribution
Americraft Carton, Inc.
Prairie Village, KS
Entirety
Atlanta, GA
Financial Institutions
Castle Wealth Advisors, LLC Indianapolis, IN
Entirety
Overland Park, KS
Architecture/Engineering & Construction
Mission Plumbing, Heating, and Cooling
Southern HVAC Corporation Lincolnshire Management; VSS Capital Partners Farm Journal, Inc.
Shawnee, KS
Entirety
Maitland, FL
Healthcare/Life Sciences
Barrier Companies
Lenexa, KS
Majority Stake
New York, NY
Technology/Media/Telecom AgFax Media, LLC
Brandon, MS
Assets
Lenexa, KS
Mayer Hoffman McCann P.C.
Professional Services/Advisory Berntson Porter & Company, PLLC
Bellevue, WA
Attest Assets
Kansas City, MO
INDUSTRY
INDUSTRY
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
Q3 JULY Manufacturing/Distribution Architecture/Engineering & Construction
Q2 JUNE Transportation & Logistics
UTXL, Inc.
Kansas City, MO
Entirety Entirety
Knight-Swift (NYSE:KNX) Phoenix, AZ
Champion Brands, LLC
Clinton, MO
Entirety
Plz Aeroscience Corp.
St. Clair, MO
Forterra, Inc. (Nasdaq:FRTA)
Technology/Media/Telecom A-S-K Associates, Inc.
Lawrence, KS
SnapIT Solutions
Overland Park, KS
Barbour Concrete Company Independence, MO Entirety
Irving, TX
Architecture/Engineering & Construction
L.R. Kimball Division
TranSystems Corporation
CDI-Infrastructure, LLC
Philadelphia, PA
Kansas City, MO
Consumer Products & Services Phone Medic, LLC
Overland Park, KS 16 uBreakiFix Stores
Asurion, LLC
Nashville, TN
AlphaGraphics Kansas City
Technology/Media/Telecom Priority Printing & Marketing, Inc. Kansas City, MO
Entirety
Kansas City, MO
Consumer Products & Services Flint Hills Ford and Flint Hills Hyundai Manhattan, KS
Entirety
Max Motors II, LLC
Butler, MO
1410 KKLO Leavenworth, 92.7 K224FF
Technology/Media/Telecom Vision Communications, Inc.
Lenexa, KS
Radio Vida Kansas, Inc.
Kansas City, KS
FMS Solutions Holdings, LLC
Technology/Media/Telecom Grocery Order Tracking, Inc.
Leawood, KS
Entirety
Fort Lauderdale, FL
Tank Trailer Cleaning Operations
Old World Spices & Seasonings, Inc.
Architecture/Engineering & Construction
QualaWash Holdings, LLC
Consumer Products & Services Head Country Bar-B-Q
Ponca City, OK
Entirety
Overland Park, KS
Kraft Tank, Inc.
Kansas City, KS
Tampa, FL
Allegiant Private Advisors, LLC
Financial Institutions
Sarasota, FL
Entirety
Mariner Wealth Advisors Overland Park, KS
Technology/Media/Telecom QTS Realty Trust, Inc. (NYSE:QTS) Technology/Media/Telecom Network Technologies, Inc.
Overland Park, KS Entirety
Blackstone (NYSE:BX)
New York, NY
Peoples State Bank (Leonardville, KS) ICF Industries, Inc.
Olathe, KS
Entirety
My IT, LLC
Metairie, LA
Financial Institutions
Stanley Bank
Overland Park, KS Entirety
Manhattan, KS
Technology/Media/Telecom Stayton Communications, LLC Independence, MO KCWJ-AM
Radio Vida Kansas, Inc.
Kansas City, KS
Manufacturing/Distribution Food/Agriculture & Animal Health
ID Global Corporation
Bannockburn, IL
Entirety
Pleasant Hill, MO
Consumer Products & Services PSD Holdings, LLC
Flower Mound, TX Entirety
Bravas, LLC
Overland Park, KS
Spyhouse Coffee Roasters
Minneapolis, MN
Entirety
FairWave Holdings, LLC Kansas City, MO
Environmental Services Business Unit
Architecture/Engineering & Construction
Black & Veatch Holding Company
Overland Park, KS
Versar, Inc.
Springfield, VA
Kuecker Logistics Group, Inc. Kuecker Logistics Group, Inc.
Transportation & Logistics
QC Software, LLC
Cincinnati, OH
Merger
Belton, MO
Northern Genesis Acquisition Corp. II Taylor Hill Insurance Service, Inc.
Embark Trucks, Inc. (Nasdaq:EMBK) High Street Insurance Partners, Inc.
Transportation & Logistics
Kansas City, MO
Merger
San Francisco, CA
Transportation & Logistics
PULSE Integration
Pittston, PA
Merger
Belton, MO
Financial Institutions
Blue Springs, MO Entirety
Traverse City, MI
Ares Private Equity Group
Transportation & Logistics
KPI, LP
Belton, MO
Majority Stake
Los Angeles, CA
Brokerage Operations of Riverside Transport
Transportation & Logistics
Riverside Transport, Inc.
Kansas City, KS
Fitzmark, Inc.
Indianapolis, IN
Three Bank Locations & Assets of Security Bank
Financial Institutions
Security Bank of Kansas City Kansas City, KS
Equity Bank
Andover, KS
Briggs Medical Service Company
Netsmart Technologies, Inc.
Healthcare/Life Sciences
West Des Moines, IA SimpleLTC, Inc.
Overland Park, KS
Architecture/Engineering & Construction
Bibb Engineers Architects & Constructors
S&B Engineers and Constructors, Ltd.
Kansas City, MO
Majority Stake
Houston, TX
Manufacturing/Distribution
Reliance Label Solutions, Inc.
Paola, KS
Entirety
Mason Wells
Milwaukee, WI
Financial Institutions
Adviceperiod Services, LLC Los Angeles, CA
Entirety Entirety
Mariner Wealth Advisors Overland Park, KS
Professional Services/Advisory Summit Health Law Partners Boston, MA
Husch Blackwell LLP Kansas City, MO
Greater Houston Transportation Company
Transportation & Logistics
Houston, TX
Entirety
WHC Worldwide, LLC Kansas City, MO
Healthcare/Life Sciences
WellSky Corporation
Overland Park, KS WellSky International
System C Healthcare plc Maidstone, England
Consumer Products & Services Sporting Kansas City
Kansas City, MO
Minority Stake
Patrick Mahomes Modern Litho, Inc.
Kansas City, MO
Technology/Media/Telecom Watkins Lithographic, Inc.
North Kansas City, MO Entirety
Jefferson City, MO
Healthdrive Corporation; Aria Care Partners
Healthcare/Life Sciences
SeniorWell
Buffalo Grove, IL
Entirety
Overland Park, KS
Healthcare/Life Sciences
Outreach Eye Care
Platte City, MO
Entirety Entirety Entirety
Aria Care Partners
Overland Park, KS
Financial Institutions
Channel Islands Group
Ventura, CA
Mariner Wealth Advisors Overland Park, KS
Healthcare/Life Sciences
Healthify
New York, NY
WellSky Corporation Krause Brokerage Services, LLC
Overland Park, KS
Central States Financial Services, LLC
Financial Institutions
Prairie Village, KS
LTC Solutions
De Pere, WI
INDUSTRY
INDUSTRY
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
Q3 AUGUST
Q3 SEPTEMBER Architecture/Engineering & Construction
Centric Actuarial Solutions, LLC
RSC Insurance Brokerage, Inc.
Southern HVAC Corporation
Financial Institutions
Overland Park, KS Entirety
Boston, MA
C M Mose Electric
Pleasant Valley, MO Entirety
Maitland, FL
Technology/Media/Telecom RFP360
Leawood, KS Jamesport, MO
Entirety Assets
RFPIO, Inc. BTC Bank
Beaverton, OR Bethany, MO
Mayer Hoffman McCann P.C.
Professional Services/Advisory Shea Labagh Dobberstein
San Francisco, CA
Attest Assets
Kansas City, MO
Financial Institutions
Home Exchange Bank
Professional Services/Advisory Miller Haviland Ketter
Westwood, KS
Entirety
BerganKDV
Minneapolis, MN
Majority Stake in EH2 Power
Energy/Utility & Infrastructure Brooks Energy Company
Denver, CO
Tallgrass Energy, LP
Leawood, KS
Professional Services/Advisory Shred One KC
Independence, MO Entirety
Shred America, LLC
Fort Mill, SC
Energy/Utility & Infrastructure StarLite Propane Gas Corporation
Deer Park, NY
Entirety
Ferrellgas, LP
Overland Park, KS
DisruptOPS, Inc. (Kansas City, MO)
Technology/Media/Telecom Drive Capital
Columbus, OH
FireMon, LLC
Overland Park, KS
iSafety Systems Private Limited Kansas City Southern (NYSE:KSU) Commonwealth Advisory Group, Ltd.
ProPharma Group Holdings, LLC
Healthcare/Life Sciences
Hyderabad, India
Entirety
Overland Park, KS
Digital Ally, Inc. (Nasdaq:DGLY) CrowdPharm, LLC Class Valuation, LLC
Consumer Products & Services TicketSmarter, LLC
Leawood, KS
Entirety
Lenexa, KS
Canadian Pacific Railway (NYSE:CP)
Transportation & Logistics
Kansas City, MO
Entirety
Calgary, Canada
Healthcare/Life Sciences
Cross & Wild, LLC
Saratoga Springs, NY Entirety Lee's Summit, MO Entirety West Chester, OH Entirety
Kansas City, MO
Professional Services/Advisory Pendo Management, LLC
Troy, MI
Financial Institutions
Pittsburgh, PA
Entirety
Mariner Wealth Advisors Overland Park, KS
Financial Institutions
The Pinnacle Group
Mariner Wealth Advisors Overland Park, KS
Manufacturing/Distribution
Versatech, LLC
Effingham, IL
Entirety
Genuen, LLC
Lenexa, KS
Food/Agriculture & Animal Health Food/Agriculture & Animal Health
C & C Produce, LLC
North Kansas City, MO Entirety
GS Foods Group, Inc.
Ontario, CA
HUB International Limited
Financial Institutions
Dissinger Reed, LLC
Overland Park, KS Assets
Chicago, IL
Smallcakes Cupcakery and Creamery C & M Bancshares, Inc.
The Derbyshire Group Limited
Olathe, KS
Entirety
Destin, FL
Elite Medical Billing Specialists, Inc.
Healthcare/Life Sciences
Livonia, MI
Entirety
Nobility Healthcare, LLC Lenexa, KS
Financial Institutions
Cameron, MO
Entirety
BTC Bank
Bethany, MO
Consumer Products & Services Ticket Solutions, LLC
Overland Park, KS Merger
Tickets for Less, LLC
Overland Park, KS
Lawrence Financial Corporation Sizewise Rentals, LLC
First Financial Bancshares, Inc.
Financial Institutions
Lawrence, KS
Entirety
Lawrence, KS
Radio Station in Kingsville, MO
Technology/Media/Telecom Alpine Broadcasting Corporation
Naples, FL
Radio Vida Kansas, Inc.
Kansas City, KS
Healthcare/Life Sciences
Lenexa, KS
Entirety
Agiliti, Inc. (NYSE:AGTI) Core & Main, Inc. (NYSE:CNM) Pittsburgh Logistics Systems, Inc.
Minneapolis, MN
Sensata Technologies (NYSE:ST) Spencer Fane LLP IMS Consulting & Expert Services, LLC
Manufacturing/Distribution
Spear Power Systems, LLC Grandview, MO
Attleboro, MA
Entirety
CES Industrial Piping Supply, LLC
Manufacturing/Distribution
Belton, MO
Entirety
Saint Louis, MO
Professional Services/Advisory Bone McAllester Norton, PLLC Nashville, TN
Overland Park, KS
Entirety
Cranberry Township, PA
Transportation & Logistics
D & L Transport, LLC
Overland Park, KS Entirety
Professional Services/Advisory Litigation Insights, Inc.
Overland Park, KS Entirety
Pensacola, FL
Food/Agriculture & Animal Health
Schroer Manufacturing Company
Wadhurst, United Kingdom
Kansas City, KS
Entirety
Midmark Corporation Dayton, OH
Scoffold & Access Magazine
Technology/Media/Telecom Scaffold & Access Industry Association
Kansas City, MO
KHL Group, LLC
Buckingham Asset Management, LLC
Inszone Insurance Services, Inc.
Financial Institutions
The Planned Approach, Inc.
Kansas City, MO
Entirety
Saint Louis, MO
Financial Institutions
Summit Insurance Group
Lee's Summit, MO Entirety
Rancho Cordova, CA
Technology/Media/Telecom Cavern Technologies, Inc.
Lenexa, KS
Entirety
LightEdge Solutions, Inc. Tramec Management Team
Des Moines, IA
Curis Functional Health, LLC
Healthcare/Life Sciences
Rejuvenate KC
Lee's Summit, MO Entirety
Dallas, TX
Manufacturing/Distribution
Tramec
Shawnee, KS
Majority Stake
Shawnee, KS
Manufacturing/Distribution
Safari Belting Systems
Olathe, KS
Chiorino SpA
Biella, Italy
Entirety
Financial Institutions
FCG Advisors, LLC
Chatham, NJ
Entirety
Mariner Wealth Advisors Overland Park, KS
Chapman Automotive Group, Inc.
Consumer Products & Services Fisher Automotive Group
Savannah, MO
Entirety
Scottsdale, AZ
Food/Agriculture & Animal Health
Firebird Artisan Mills
Agspring, LLC
Leawood, KS
Ardent Mills, LLC
Denver, CO
Bolin Auto & Truck Parts Company
Transportation & Logistics
Saint Joseph, MO
Entirety
FleetPride, Inc.
Spring, TX
Tension Packaging & Automation
Professional Services/Advisory Colorado Automation and Design, Inc.
Aurora, CO
Entirety
Kansas City, MO
INDUSTRY
INDUSTRY
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
Q4 OCTOBER
Q4 NOVEMBER
Grossman Iron & Steel Company
Advantage Metals Recycling, LLC
Manufacturing/Distribution
Cleveland, OH
Entirety
Kansas City, MO
Financial Institutions
Coldwell Banker Bain
Bellevue, WA
Majority Stake
US RES Holdco, LLC Overland Park, KS
American Healthcare Alliance, LLC
Kansas City Life Insurance Company
Sunset Life Insurance
Healthcare/Life Sciences
Kansas City, MO
Entirety
MDI NetworX, LLC
Baltimore, MD
Financial Institutions
Kansas City, MO
Cordillera Holdings, LLP New York, NY
Technology/Media/Telecom Kansys, Inc.
Olathe, KS
Entirety Entirety
Lumine Group
Mississauga, Canada
Technology/Media/Telecom TreviPay
Overland Park, KS MSTS Payments, LLC
Shell Oil Company
Houston, TX
Financial Institutions
Edge Group
Bergen, Norway
Lockton, Inc.
Kansas City, MO
NovaBay Pharmaceuticals Relation Insurance Services, Inc. Midland Metal Mfg. Company Highline Hospitality Partners, LLC
Unknown Ownership Stake
Brentwood Associates, Inc.
Consumer Products & Services DERMAdoctor
Riverside, MO
Entirety
Emeryville, CA
Technology/Media/Telecom Service Management Group, Inc.
Kansas City, MO
Los Angeles, CA
Assets of Truck Insurance Mart
ProPharma Group Holdings, LLC
Financial Institutions
Truck Insurance Mart, Inc.
Edwardsville, KS
Walnut Creek, CA
Healthcare/Life Sciences
Pharmica Consulting, Inc.
Sparta, NJ
Entirety
Overland Park, KS
Vaughn Wealth Management, LLC
Manufacturing/Distribution
Century Brass Products, Inc.
Long Island City, NY Entirety
Kansas City, MO
Financial Institutions
Orlando, FL
Entirety
Mariner Wealth Advisors Overland Park, KS
Responsive Centers for Psychology & Learning
Integrated Psychiatric Consultants
Consumer Products & Services Kansas City Marriott Downtown
Kansas City, MO
Entirety
New York, NY
Healthcare/Life Sciences
Overland Park, KS Entirety
Overland Park, KS
Lockton Retirement Solutions
Manufacturing/Distribution
Premise LED, Inc.
Toronto, Canada
Entirety
EiKO Global, LLC
Shawnee, KS
Financial Institutions
Lockton, Inc.
Kansas City, MO
Creative Planning, Inc.
Overland Park, KS
Financial Institutions
ANB Bank
Denver, CO
KC Metro Branch UMB Bank, National Association
Kansas City, MO
Food/Agriculture & Animal Health
Drink Eat Well, LLC
Lawrence, KS
Entirety
PlantPlus Foods, LLC Chicago, IL
Healthcare/Life Sciences
N8 Essentials, LLC
Olathe, KS
Entirety
Socati Corp.
West Lake Hills, TX
Professional Services/Advisory House Park Dobratz & Wiebler PC Kansas City, MO
Entirety
UHY LLP
Farmington Hills, MI
Surgery Center of Lancaster, LLC
Healthcare/Life Sciences
Lancaster, PA
Entirety
ValueHealth, LLC
Leawood, KS
Waterlogic Americas, LLC
Manufacturing/Distribution
Boresow's Water Company
Overland Park, KS Entirety
Grapevine, TX
Transportation & Logistics
ACI Jet Orange County, LLC San Luis Obispo, CA Unknown Ownership Stake Freeman Holdings Group Overland Park, KS
Hudson Medical Innovations, Inc.
Manufacturing/Distribution
Preco, Inc.
Lenexa, KS
Resonetics, LLC
Nashua, NH
Architecture/Engineering & Construction
George Butler Associates, Inc.
Rio Engineering, Inc.
Austin, TX
Entirety
Lenexa, KS
Consolidated Grain and Barge
Transportation & Logistics
Agforce Transport Services
Leawood, KS
Entirety
Convington, LA
Eversana Life Science Services, LLC Vance Street Capital
Healthcare/Life Sciences
Intouch Group, LLC
Overland Park, KS Entirety
Milwaukee, WI
Technology/Media/Telecom Change and Innovation Agency, LLC
Liberty, MO
Entirety
Vimo, Inc.
Mountain View, CA
Transportation & Logistics
McFarlane Aviation, LLC
Baldwin City, KS
Entirety Entirety
Los Angeles, CA
Financial Institutions
Barley Mill Asset Management Wilmington, DE
Mariner Wealth Advisors Overland Park, KS
BRP Group, Inc. (Nasdaq:BRP)
Financial Institutions
Brush Creek, LLC
Kansas City, MO
Assets
Tampa, FL
National Golf Club of Kansas City & The Deuce Club
Consumer Products & Services RP Golf, LLC
Kansas City, MO
ClubCorp Holdings, Inc.
Dallas, TX
Financial Institutions
Savant Investment Group, LLC Oakland, CA
Entirety Entirety
Mariner Wealth Advisors Overland Park, KS
Consumer Products & Services MedZoneProducts, LLC
Lenexa, KS
Suma Brands, Inc.
New York, NY
Procore Technologies, Inc. (NYSE:PCOR)
Technology/Media/Telecom LaborChart
Overland Park, KS Entirety
Carpinteria, CA
Midwest Game Supply Company
TCS John Huxley Europe Ltd
Stoke-On-Trent, United Kingdom
Manufacturing/Distribution
Kearney, MO
Entirety
Technology/Media/Telecom Amply Media
Kansas City, MO Hollywood, FL
Entirety Entirety Entirety
Sonobi, Inc.
Winter Park, FL
Manufacturing/Distribution
HIPPO Power, LLC
Riverside, MO
Commercial Assets Boss Industries, LLC LaPorte, IN
Manufacturing/Distribution
Epoxytec International, Inc.
Tnemec Company, Inc.
North Kansas City, MO
Healthonify Private Limited Group of Investors NovaQuest Capital Management, LLC Creative Planning, Inc.
Healthcare/Life Sciences
Healthy Plus
Lee's Summit, MO Entirety
Malad, India
Technology/Media/Telecom Menufy
Leawood, KS
HungerRush, LLC
Houston, TX
Residential Mortgage Operations
Technology/Media/Telecom Carey Media, LLC
Kansas City, MO
The Pitch
Kansas City, MO
Armed Forces Bank, National Association TREKK Design Group, LLC
Financial Institutions
KS StateBank
Manhattan, KS
Fort Leavenworth, KS
Food/Agriculture & Animal Health
Technology Acceleration Partners, Investment Arm Overland Park, KS Dashboard Wealth Advisors Chicago, IL
Covenant Animal Health Partners
Raleigh, NC
Architecture/Engineering & Construction
Access Engineering, LLC
Saint Louis, MO
Entirety
Kansas City, MO
Financial Institutions
Entirety
Overland Park, KS
Technology/Media/Telecom Sellozo
Kansas City, MO
Entirety
NetRush.com, Inc.
Vancouver, WA
INDUSTRY
SELLER
SELLER LOCATION
UNIT SOLD
BUYER
BUYER LOCATION
Q4 DECEMBER
ABOUT CC CAPITAL ADVISORS CC Capital Advisors, a subsidiary of Country Club Bank, is a Kansas City- based investment banking group that specializes in mergers and acquisitions, corporate fundraising, and financial and strategic planning for public and private corporations throughout the United States and abroad. Its team of professionals has an extensive amount of experience and expertise in a broad range of fields, including agribusiness and animal health; business services and technology; consumer; industrials; construction and engineering; and power, telecom and infrastructure services.
RTS Private Wealth Management
Financial Institutions
Phoenix, AZ
Entirety
Mariner Wealth Advisors Overland Park, KS
Professional Services/Advisory Simplex Services, Inc.
Quebec, Canada
Entirety
Epiq Systems, Inc.
Kansas City, KS
Professional Services/Advisory Kane Mitchell & Co., LLC
Overland Park, KS Entirety
AdamsBrown, LLC
Wichita, KS
Prime Capital Investment Advisors, LLC Prime Capital Investment Advisors, LLC Netsmart Technologies, Inc.
Financial Institutions
Financial Network Limited
Milford, CT
Entirety
Overland Park, KS
20/20 Financial Advisers of Daytona Beach, LLC
Financial Institutions
Daytona Beach, FL
Entirety
Overland Park, KS
Healthcare/Life Sciences
Remarkable Health, LLC
Chandler, AZ
Entirety
Overland Park, KS
Technology/Media/Telecom SKC Communication Products, LLC Shawnee Mission, KS Entirety
AVI-SPL, Inc.
Tampa, FL
Technology/Media/Telecom The DataTech Group, Inc.
O'Fallon, IL
Entirety
TORCH Research, LLC Leawood, KS
Midwest Vision Partners, LLC
Healthcare/Life Sciences
Eye Care, P.A.
Independence, MO Entirety
Chicago, IL
Frontier Community Credit Union
JOHN HENSE Managing Director 816-360-8646 BILL CONWAY Managing Director 816-360-8697
TERRY CHRISTENBERRY Managing Director 816-360-8698
Financial Institutions
Muddy River Credit Union
Atchison, KS
Merger
Leavenworth, KS
Financial Institutions
Sivel Capital Management
New Tripoli, PA
Entirety
Mariner Wealth Advisors Overland Park, KS
American Digital Security, LLC
Manufacturing/Distribution
Securix, LLC
Fenton, MO
Entirety
Liberty, MO
Shell New Energies US, LLC
STEPHANIE SIDERS Managing Director 816-360-8695 JACK RUSGIS Associate 816-859-7462 JACK SCHANZE Analyst 816-425-9391 LANEAH KNUTH Executive Assistant 816-425-9403
Energy/Utility & Infrastructure Savion, LLC
Kansas City, MO
Entirety
Los Angeles, CA
Professional Services/Advisory Avant Law Group, LLC
Overland Park, KS Merger
Erickson Kernell IP, LLC Leawood, KS
Cascadia Advisory Services, LLC
Financial Institutions
Portland, OR
Entirety
Mariner Wealth Advisors Overland Park, KS
Motorola Solutions, Inc. (NYSE:MSI) Discovery Behavioral Health, Inc.
CHRIS BRITO Vice President 816-360-8694
Technology/Media/Telecom 911 Datamaster, LLC
Overland Park, KS Entirety
Chicago, IL
AwakeningsKC Clinical Neuroscience Institute
Healthcare/Life Sciences
Prairie Village, KS
Entirety
Los Alamitos, CA
Consumer Products & Services Insight 2 Design
Overland Park, KS Unknown Ownership Stake Clearview Capital
Stamford, CT
TYLER CLEMENT Associate 816-859-7446 ANTHONY FORTINO Analyst 816-425-9535
Comprehensive Mental Health Services
Burrell Behavioral Health Oracle Corporation (NYSE:ORCL)
Healthcare/Life Sciences
Independence, MO Merger
Springfield, MO
Cerner Corporation (Nasdaq:CERN)
Healthcare/Life Sciences
North Kansas City, MO Entirety
Austin, TX
Financial Institutions
Granite Investment Advisors Concord, NH
Entirety
Mariner Wealth Advisors Overland Park, KS
Gen4 Dental Partners Opco, LLC
Healthcare/Life Sciences
Accelerate Dental, LLC
Lawrence, KS
Entirety
Tempe, AZ
Architecture/Engineering & Construction
Sharp-Long Heating & Air Conditioning, Inc.
Lee's Summit, MO Entirety
Southport Group
Chicago, IL
Technology/Media/Telecom Fishtech Group, LLC
Kansas City, MO
Merger
The Herjavec Group, Inc.
Toronto, Canada
Financial Institutions
Viewpoint Financial Network Pleasanton, CA
Entirety
Mariner Wealth Advisors Overland Park, KS
CONTACT US TO LEARN MORE
The information contained in this report was compiled by CC Capital Advisors from a variety of sources including news reports, S&P Capital IQ, Pitchbook, SEC filings, company statements, and information provided by M&A professionals. Many deals did not disclose pricing, and other private transactions may not have been publicly announced. Transactions are subject to change or termination prior to closing. While CC Capital Advisors makes a good faith effort to ensure the accuracy of this report, it is intended for general information purposes only. CC Capital Advisors is not responsible for any errors or omissions in this report.
Country Club Financial Services Inc., dba CC Capital Advisors, Member FINRA, SIPC
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