Haynes and Boone advised Blucora Inc. on the deal. PJT Partners LP is serving as financial advisor to Blucora.
Blucora, Inc. (NASDAQ: BCOR), a leading provider of tax-smart financial solutions that empower people’s goals, entered into an agreement to acquire 1st Global, Inc., a tax-focused wealth management company. 1st Global, based in Dallas, Texas, serves about 850 independent advisors with approximately $18 billion in total client assets and $9 billion in for-fee advisory assets.
The transaction, which is expected to be accretive to Blucora’s earnings per share and free cash flow, brings together two leaders in the tax-focused wealth management space. The complementary nature of the companies’ business models creates numerous synergies and growth opportunities for the combined company. 1st Global, the No. 2 tax-focused independent broker-dealer based on total revenue, specializes in servicing large, multi-partner accounting firms, while HD Vest, the No. 1 tax-focused independent broker-dealer, focuses primarily on converting individual tax preparers into wealth advisors.
Blucora and 1st Global believe that every financial and investment decision, at its core, is a tax decision. Integrating tax information with wealth management enables our advisors to provide more comprehensive advice to clients, uncovering opportunities that others often miss. This supports Blucora’s mission to enable advisors to minimize taxes, maximize wealth, increase cash flow and enable better long-term outcomes for their clients.
Haynes and Boone advised Bludora with Jan Sharry (Picture), Ryan Cox, Dan P. Malone Jr., Michael Pritchard, David Lightstone, Omar Shariff, Madelyn Calabrese and Daren Domina.
Involved fees earner: Madelyn Calabrese – Haynes and Boone; Ryan Cox – Haynes and Boone; Daren Domina – Haynes and Boone; David Lightstone – Haynes and Boone; Daniel Malone Jr. – Haynes and Boone; Michael Pritchard – Haynes and Boone; Omar Shariff – Haynes and Boone; Janice Sharry – Haynes and Boone;
Law Firms: Haynes and Boone;
Clients: Blucora Inc;