Independent investment dealer Haywood Securities Inc. has signed an agreement to purchase the business of Bolder Investment Partners, Ltd., an acquisition that will significantly expand its investment services, particularly in retail sales and trading, the company said Tuesday.

Financial terms of the transaction were not disclosed.

Bolder is an employee-owned-and-operated independent full-service investment dealer with offices in Vancouver and Calgary. Haywood and Bolder have had a long-standing business relationship dating back to Bolder’s formation 12 years ago.

Once the acquisition is finalized, employees from both firms are expected to move into Haywood’s new Vancouver corporate offices.

“By joining Haywood, our team will be able to extend its reach and provide greater value to existing and future clients,” says C. Channing Buckland, chairman and CEO of Bolder Investment Partners, Ltd/

“Chan is competitive, ethical and passionate about his business and we love that. He has built a great firm with a lot of talent and experience,” says John Tognetti, chairman of Haywood. “The cultures of our two firms are very similar and complimentary in a variety of ways and this deal will significantly expand our investment services. Bolder’s managed funds offerings will add another dimension to Haywood’s expanding universe.”

Haywood and Bolder executed a definitive agreement on June 26. The transaction is subject to approval by shareholders of Bolder and regulatory approval.

Haywood Securities is a 100% employee-owned investment dealer with more than 275 employees and Canadian offices in Vancouver, Calgary and Toronto.

IE