National Holdings Corporation, a leading full service independent brokerage, investment banking and asset management firm providing a wide array of services, today announced that it has entered into a definitive purchase agreement to acquire Winslow, Evans & Crocker, Inc., an employee-owned full-service investment firm.
The transaction is expected to close in the first fiscal quarter of 2020, subject to customary conditions and regulatory approvals. The acquisition is expected to be accretive to gross and adjusted EBITDA margins.
Winslow, Evans & Crocker, Inc. (Winslow), is a Boston-based, full-service investment firm established in 1991. Winslow is an SEC Registered Investment Advisor and a FINRA registered broker-dealer.
More than 50 financial professionals including Certified Financial Planners, Investment Advisor Representatives, Financial Consultants, brokers and other specialists are part of the Winslow team with over $2.5B in assets under management. Winslow has a top-tier trading desk, in-house life insurance agency and Capital Markets & Economic Research, offering clients leading-edge technology and a complete range of financial products.
Located in the heart of the financial district in Boston, MA, Winslow is a strategic location for National to build out its banking platform.
Michael Mullen, Chairman and Chief Executive Officer of National stated, “We are extremely pleased to announce this definitive agreement to acquire Winslow, Evans & Crocker. Our businesses share many key values, importantly sharing in the ‘Client-first’ culture and we believe the Winslow professionals and clients will benefit from National’s larger and broader solutions platform.”
Mr. Mullen continued, “This acquisition aligns well with our corporate goals and is a strong strategic and cultural fit. We look forward to expanding our presence in the Boston area and are pleased to be doing so with such a like-minded firm.”
Tina Maloney, Chairman of Winslow, Evans & Crocker stated, “We look forward to bringing the enhanced capabilities of National to our customers and to our team allowing us to better serve our clients.” Mrs. Maloney continued, “National shares our culture and commitment to our clients and we believe this acquisition is a natural combination that delivers superior and immediate value to National and Winslow.”
