OVERLAND PARK, Kan.--(BUSINESS WIRE)--Prime Capital Investment Advisors (PCIA) proudly announces a new strategic partnership with Abry Partners (Abry), an established private equity firm with a 30-year track record of success in fueling business growth.
The partnership between PCIA and Abry represents a significant leap forward in the growth trajectory of the firm. Aligning with Abry will fuel further expansion for PCIA while preserving the steadfast dedication to clients and the exceptional service that has defined the organization.
"We are thrilled to embark on this partnership with Abry, a respected firm that shares our values,” said Glenn Spencer, CEO of PCIA. “This collaboration will undoubtedly amplify our ability to provide high-quality service and innovative solutions to our clients. Together, we are poised to unlock new opportunities, foster continued growth and further elevate the client experience that lies at the heart of our mission."
As part of the agreement, Abry will acquire an equity interest in PCIA, provide additional investment capital and join the PCIA board. This collaboration with Abry will be seamless for clients and presents an exciting opportunity to leverage their extensive experience in business growth and collaborating closely with leadership teams.
“Abry is absolutely thrilled to be partnering with the leadership team at PCIA. We are firmly committed to the financial advisory space and view PCIA as one of the long-term winners in this sector,” said James Scola, Partner at Abry. “Together, we will continue to innovate and attract the most talented people in the industry, creating tremendous value for all of our stakeholders,” added Mr. Scola.
"PCIA is steadfast in our commitment to strategic growth and continually investing in opportunities that elevate the level of service and experience we offer our esteemed clients,” said Scott Colangelo, Chairman and Managing Partner of PCIA. “This partnership perfectly aligns with our mission, propelling us forward on our path to delivering highly impactful investment decisions for those we have the privilege to serve.”
Since its founding in 2017, PCIA and its affiliates have experienced remarkable success, growing rapidly to oversee well over $20 billion in assets across 62 locations nationally.
The transaction is expected to close on August 1st of this year. Waller Helms served as the exclusive financial advisor to PCIA while Spencer Fane provided legal advisory services to the company. William Blair & Company served as financial advisor to Abry, and Kirkland & Ellis LLP served as legal advisor to Abry.
About Prime Capital Investment Advisors
Prime Capital Investment Advisors provides a client-centric team approach to full-service financial planning, including fee-based asset management and wealth management through its Prime Capital Wealth Management brand. Through its Qualified Plan Advisors brand, the firm also provides retirement plan advisory services, as well as plan participant education. PCIA currently has 62 locations throughout the United States, with investment advisor representatives serving clients across the nation. Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser. PCIA doing business as Qualified Plan Advisors (“QPA”) and Prime Capital Wealth Management (“PCWM”). For more information, visit www.pciawealth.com.
About Abry Partners
Abry Partners is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across its active funds. For more information about Abry Partners, visit www.abry.com.