News
October 21, 2007
October 22, 2007-- The management of Johnson Asset Management has agreed to buy the interest in the company now held by majority owner Johnson Financial Group, creating a new entity called Optique Capital Management.
The transaction is expected to close by the end of the year, Johnson Asset Management said Friday. Terms were not disclosed.
Johnson Asset Management is an institutional money manager in Racine that is 35 percent owned by employees and 65 percent owned by Johnson Financial Group, one of the four business enterprises owned by the Johnson family, including S.C. Johnson & Son Inc., according to the firm's Web site.
The management group is teaming with Lubar & Co. family members and other Johnson Asset Management employee shareholders to complete the transaction. Lubar & Co. is a Milwaukee-based private investment firm.
Johnson Asset Management was created in 1989 as an investment management unit within Johnson Financial Group. The group has grown to more than $1.7 billion in assets under management and is the investment adviser to the JohnsonFamily Funds.
The funds will change their name to Optique Funds at the transaction's closing.
Management anticipates that all current members of the investment and management team will remain with the firm. Employment has been offered to all Johnson Asset Management employees.
Preceding press release obtained from The Business Journal of Milwaukee. Berkshire Capital has reprinted this press release substantially in its entirety.
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