Sep. 23, 2014, 11:02 AM
- Ladenburg Thalman (LTS +1.4%) yesterday announced an agreement to purchase Knoxville-based Securities Service Network for $45M - $25M in cash and $20M of four-year notes.
- Founded in 1983, SSN has about 450 financial advisors and roughly $13B in client assets. The business had revenue of $115M for the year ended June 30.
- Following this deal and two other pending purchases, Ladenburg's network of brokerages will have about 4K financial advisors, $125B in client assets, and revenues of $1.1B.
- Barrington boosts its price target on the Outperform-rated name to $5 from $4.25, noting the fast pace of acquisitions this year.
Aug. 11, 2014, 10:13 AM
- In news released alongside its quarterly results, Ladenburg Thalman (LTS +4.8%) agrees to the purchase of KMS Financial, a Seattle-based broker with about 325 financial advisors, $14B in client assets, and $84M in revenue.
- LTS will pay about $24M - $11M in cash, $8M in 4-year notes, and 1.44M shares of common stock.
- Upon closing of this and other pending deals, Ladenburg will have about $110B in client assets, 3.5K advisors, and $1B of annual revenues.
- Source: Press Release
- Previously: Ladenburg Thalman in high cotton
Dec. 19, 2013, 12:45 PM
Dec. 6, 2013, 5:45 PM
Oct. 22, 2013, 5:50 PM
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Ladenburg Thalmann Financial Services Inc,through its subsidiaries,is engaged in independent brokerage and advisory services, investment banking, equity research, institutional sales and trading, asset management services and trust services.
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