Evoke Advisors completes acquisition of Crescent Bay Advisors to expand RIA and Family Office offerings
Oct 30, 2024•about 1 year ago
Acquiring Company
Evoke Advisors
Acquired Company
Crescent Bay Advisors
Description
Evoke Advisors, a $25.3 billion SEC-registered investment advisory firm, has strategically acquired Crescent Bay Advisors, a multi-family office. This acquisition enhances Evoke's current service offerings, enabling the firm to provide a full range of family office services to their clients, which include ultra-high net worth families and individuals. The combined firm is headquartered in Los Angeles with additional office locations in Orange County, California, and West Palm Beach, Florida.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed