Abel Noser founders Stanley Abel and Eugene Noser Jr. have agreedto a buyout by the second-generation management team of the company.
The company has also received an investment from Estancia CapitalPartners.
The buyout agreement finalizes the planned transition of thebusiness to the existing senior management team. Under the transaction, the companywill have capital available for continued investment in its current businesses aswell as to support investment in additional services the company has been developing,such as fixed income transaction cost analysis. Terms of the transaction were notdisclosed.
Abel Noser will be led by CEO Ted Morgan, former COO of AbelNoser Solutions. Peter Weiler will serve as president of Abel Noser Solutions. AnthonyConroy will be president of Abel Noser LLC. Randy New will be chief technology officerand James Noser has been appointed executive committee chairman.
The transaction is subject to regulatory approvals and othercustomary closing conditions. Lowenstein Sandler LLP provided legal counsel to themanagement team. Goodwin LLP provided legal counsel to Estancia. BlackSterling PartnersLLC provided advisory services to Estancia and is a co-investor in the transaction.Morgan Lewis & Bockius LLP provided legal counsel, and Keefe Bruyette &Woods Inc. provided advisory services to the company.