September 12, 2023
Willkie is representing Cetera Financial Group, the premier financial advisor Wealth Hub, in its approximately $1.2 billion acquisition of Avantax, Inc., a leader in tax-focused financial planning and wealth management.
On September 11, Cetera and Avantax announced that Aretec Group, Inc. d/b/a Cetera Holdings, the holding company of Cetera, and Avantax entered into a definitive agreement whereby Cetera Holdings will acquire all of the issued and outstanding equity of Avantax in an all-cash transaction valuing Avantax at approximately $1.2 billion, inclusive of Avantax’s net debt.
Upon completion of the transaction, Avantax will become a standalone business unit within Cetera, and its common stock will no longer be traded on Nasdaq.
Willkie previously advised Cetera in numerous transactions, including its acquisitions of The Retirement Planning Group, LLC (TRPG) and the retail wealth business of Securian Financial Group, Inc.
The Willkie team was led by partners Jeffrey Poss, Manuel Miranda and Thomas Sharkey and included associates Gregory Segal, Robert Quinn and Jacqueline Foley and law clerk Donald Eklund.
On September 11, Cetera and Avantax announced that Aretec Group, Inc. d/b/a Cetera Holdings, the holding company of Cetera, and Avantax entered into a definitive agreement whereby Cetera Holdings will acquire all of the issued and outstanding equity of Avantax in an all-cash transaction valuing Avantax at approximately $1.2 billion, inclusive of Avantax’s net debt.
Upon completion of the transaction, Avantax will become a standalone business unit within Cetera, and its common stock will no longer be traded on Nasdaq.
Willkie previously advised Cetera in numerous transactions, including its acquisitions of The Retirement Planning Group, LLC (TRPG) and the retail wealth business of Securian Financial Group, Inc.
The Willkie team was led by partners Jeffrey Poss, Manuel Miranda and Thomas Sharkey and included associates Gregory Segal, Robert Quinn and Jacqueline Foley and law clerk Donald Eklund.
