Parthenon-led Consortium Agrees to Sell HD Vest for $580M
October 15, 2015
An investor group led by Parthenon Capital Partners has agreed to sell HD Vest Financial Services, which has a number of operating subsidiaries under the HD Vest name, to Blucora (NASDAQ: BCOR) for approximately $580 million. The transaction is expected to close late this year or in early 1Q 2016. HD Vest has an independent network of over 4,500 tax and non-tax financial professionals who manage over $36 billion in client assets and provide investment planning solutions for individuals, families and institutions; the company will remain a standalone entity under its current brand, leadership team and operating platform. HD Vest's current investor group, which also includes Lovell Minnick Partners and Fisher Lynch, backed the company in 2011.