FS buys Front Street

Newly formed FS Group Holdings Ltd. has agreed to purchase a controlling interest in Toronto-based Front Street Capital 2004, the two companies announced in early October. FSL Group Holdings consists of a group of investors making the acquisition. Terms of the agreement were not disclosed. Front Street Capital will continue to offer the same services to clients. As well, individual portfolio managers will continue to carry out their respective responsibilities. The deal is subject to regulatory approval, but is expected to close before Dec. 31.

(fcollie@investmentexecutive.com)