Cary Street Partners Continues Growth Trajectory with Acquisition of The Breckenridge Group, Inc.

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Deal Marks Second Acquisition for Cary Street Partners in 12 Months

From left to right: Bill Benston, Alan McClure, Kip Caffey, Larry Williams and Bruce Woodward.

We’re delighted to be partnering with such an established, high performing firm that has built a meaningful presence and reputation in its 27-year history

Cary Street Partners, LLC , a leading wealth management and investment banking firm, announced today it will acquire The Breckenridge Group, Inc., a privately held Atlanta, Georgia-based investment banking firm, subject to regulatory approval.

The Breckenridge Group, Inc. provides investment banking services to public and private middle-market businesses including mergers and acquisitions, capital raising advisory services, private placements of debt and equity and divestitures. Since its inception in 1987, The Breckenridge Group, Inc. has completed financial advisory assignments representing more than $25 billion in transaction value and has built a solid reputation as one of the leading financial advisory firms in the Atlanta financial community.

“We’re excited to join forces with an established financial services firm that has the infrastructure and vision to grow in our region,” said Larry C. Williams, Managing Director with The Breckenridge Group, Inc. “We’re confident that we will continue to thrive and serve our clients well as part of the Cary Street team.”

The acquisition of The Breckenridge Group, Inc. is in keeping with Cary Street Partners’ broader strategy to acquire quality wealth management and investment banking firms in attractive markets. This transaction marks the second for Cary Street Partners within the last 12 months and establishes the firm as one of the largest investment banking teams among boutique firms in the Southeast. The firm acquired Texas-based RiverStone Wealth Management in December 2013 adding more than $400 million in client assets and annual revenue of $5.4 million to its financial portfolio. Cary Street Partners targets geographic markets in the southeastern crescent from Virginia through Texas.

The firm currently has 11 locations in five states including: Georgia (Atlanta), North Carolina (Charlotte, Greensboro), Tennessee (Johnson City), Texas (Austin, San Antonio) and Virginia (Abingdon, Blacksburg, Richmond, Wytheville and Fredericksburg).

“We’re delighted to be partnering with such an established, high performing firm that has built a meaningful presence and reputation in its 27-year history,” said Kip Caffey, Managing Partner with Cary Street Partners. “This combination strengthens our market presence in the Southeast and broadens our expertise in key industries.”

About Cary Street Partners
Richmond, Virginia-based Cary Street Partners is a leading wealth management and investment banking firm with 11 office locations in Georgia, North Carolina, Tennessee, Texas and Virginia. Founded in 2002, the firm excels at providing customized, objective wealth management and investment banking solutions. The firm provides wealth management services to individuals and small institutions, including asset allocation, portfolio construction and maintenance, and manager recommendation. Its investment banking services target middle-market companies and include merger and acquisition advisory services, private placements of debt and equity capital, and strategic advice. Cary Street Partners is the trade name used by two separate limited liability companies, Cary Street Partners Investment Advisory LLC, a registered investment advisor; and Cary Street Partners LLC, a registered broker-dealer and member of FINRA and SIPC. Additional information about Cary Street Partners can be found at http://www.carystreetpartners.com.

About The Breckenridge Group, Inc.
Headquartered in Atlanta, Georgia, The Breckenridge Group, Inc. provides a wide range of investment banking services to middle-market businesses. Their engagements include services related to divestitures, mergers and acquisitions, as well as private placements of debt and equity. Founded in 1987, The Breckenridge Group has more than 180 years of cumulative investment banking experience and the firm has completed financial advisory assignments representing more than $25 billion in transaction value. Additional information about The Breckenridge Group can be found at http://www.breckenridgegroup.com

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Emily Tracy

Emily Tracy
Schroder PR
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