Fiera Capital acquires Integrated Asset Management Corp.


Canada’s alternative asset management company Integrated Asset Management Corp. (IAM) (TSX:IAM) has announced earlier that it has entered into a definitive arrangement agreement with Fiera Capital Corporation (TSX:FSZ) last week. According to the agreement, Fiera Capital will acquire all of the outstanding common shares of IAM.

Transaction Highlights:

  • Total consideration to IAM shareholders of $74 million consisting of $55.5 million in cash and $18.5 million of Fiera Capital Class A subordinate voting shares, therefore IAM shareholders may elect to receive cash and/or Fiera Capital Shares
  • IAM shareholders will receive contingent consideration from Fiera Capital in the form of contingent value rights (CVRs) tied to a portion of certain incentive fees that may be received in the future from two real estate funds managed by IAM affiliates
  • Represents IAM enterprise value of $64 million and $10 million of adjusted cash.

Joining forces with Fiera Capital creates an opportunity for IAM shareholders to realize immediate value and liquidity as well as the opportunity to participate in a larger combined company well-positioned for future growth. We believe this is also a great opportunity for IAM employees to join the team at Fiera Capital,” said John Robertson, President and Chief Executive Officer of IAM.

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