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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Spartan Capital Management, LLC
  • The Pennsylvania Trust Company
  • Wealth Management Firms
  • October 24, 2011
  • $180 Million

Seller Details

Spartan Capital Management, LLC is a registered, privately-owned, investment management firm that follows a disciplined, value-based investment approach. Spartan’s principals have extensive, successful experience in the investment management business and in managing the assets of high net worth individuals and institutions. Spartan invests and manages client assets using a research intensive investment process and continually evaluates and monitors investments to manage risk. Spartan’s principals created the firm to manage their assets and those of their families. Spartan’s principals are investors along with the firm's clients.

Buyer Details

Founded in 1986, Pennsylvania Trust provides investment management and trust administration, tax, estate, and related account services to individuals, families, foundations, and endowments. Our team of investment professionals is responsible for the management of over $2.2 billion in assets.  Founded in 1986, the company is still led by its founder, Chairman, President, and Chief Executive Officer, Richardson T. Merriman. Pennsylvania Trust’s six-person senior management team has a combined 85 years of service with the firm.

Transaction Summary

Spartan Capital Management, LLC has agreed to become part of The Pennsylvania Trust Company.  This combination brings Pennsylvania Trust to $2.2 billion in assets under management and the total number of its employees to 53.  Spartan’s entire executive and investment team will join Pennsylvania Trust and relocate to the company’s offices on or before February 1, 2012, in the Radnor Corporate Center.

The transaction was announced in October, 2011 and is expected to close at year-end.

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