On Tuesday, Rockwater Capital Corp. announced the acquisition of Robert Caldwell Capital Corp. and Platinum Wealth Management Inc. The purchase terms and prices were not disclosed.
“These acquisitions are the next step in our strategy to build the leading independent investment management firm in Canada,” said Bill Packham, president and CEO of Rockwater, in a news release. “When added to our acquisition of First Associates, completed earlier this month, these two firms bring our total assets under administration to over $850 million and provide us with a solid base to serve clients in Southwestern Ontario”.
Caldwell, located in Waterloo, Guelph and Huntsville, Ont., was established as an independent firm in 1990. It has specialized in managing investment portfolios for individuals, charitable organizations and trusts. Robert Caldwell, chairman and CEO of Caldwell, has been in the investment business in the Kitchener-Waterloo area for more than thirty years. In addition to a number of national and local directorships, he also serves as the chairman of the Regional Dealers Committee of the Investment Dealers Association of Canada.
PWM, located in London, Ont., provides investment counsel and portfolio management services to its clients. The firm is headed by John Farrell.
The transactions are subject to the successful completion of definitive agreements, due diligence and receiving the necessary regulatory approvals. The acquisitions are expected to close by the end of the year.
Rockwater extends presence into Southwestern Ontario
Acquisitions double firm’s assets under administration
- By: IE Staff
- October 30, 2002 October 30, 2002
- 08:45