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LPL Financial to acquire private client business of Boenning & Scattergood

Jul. 08, 2022 9:16 AM ETLPL Financial Holdings Inc. (LPLA)By: Mary Christine Joy, SA News Editor

LPL Financial sign logo on the modern office building of LPL Financial Holdings Inc company

Michael Vi/iStock Editorial via Getty Images

  • LPL Financial (NASDAQ:LPLA) entered into a definitive purchase agreement to acquire private client business of investment advisor Boenning & Scattergood.
  • The transaction, anticipated to close in early 2023, is structured as an asset purchase.
  • The transaction is subject to receipt of regulatory approval and other customary closing conditions.
  • The company estimates a transaction multiple of ~5x post-synergy EBITDA.
  • Source: Press Release

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