Sequoia Financial Group To Acquire Cleveland-Based Cirrus Wealth Management
Jul 19, 2023•over 2 years ago
Acquiring Company
Sequoia Financial Group
Acquired Company
Cirrus
AkronAustinFinancial ServicesManufacturingDescription
Sequoia Financial Group, LLC (Sequoia), a leading SEC-registered wealth manager with nearly $16 billion in assets under management, today announced it has entered into an agreement to acquire Cirrus Wealth Management (Cirrus), an SEC-registered wealth management firm. The transaction is expected to close on July 31. Financial terms were not disclosed.
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