Hot on the heels of announcing a new chief advisory position, Homrich Berg has added a new role dedicated to identifying and cultivating acquisition opportunities.
An investment banking analyst in his early career, Andrew Page spent five years working on direct investments and sub-acquisitions for Focus Financial and its partner network before joining Focus partner firm Ancora Holdings Group in 2022. As a director and partner at Ancora, he led M&A activity and other strategic initiatives.
At HB, Page will work to develop relationships with firms and advisory teams to identify and court attractive acquisition targets.
“Homrich Berg planted its flag 35 years ago in fee-only, fiduciary service and has built a reputation as one of the industry’s leading firms. Its commitment to holistic client service is a powerful starting point for any acquisition or partnership,” Page said in a statement. “The management team here is excellent, and HB’s thoughtful approach to growth creates a strong foundation for future strategic acquisitions.”
“We knew we needed a seasoned leader like Andrew, who understands both the M&A marketplace and the type of professionals who will align closely with HB,” added HB President and CEO Thomas Carroll. “He joins us at an important point in our history as we continue to seek firms and advisors who are aligned with our values and value the benefits of joining our firm.”
With $16 billion under management, HB has more than doubled its assets since Carroll joined the firm in early 2020 as part of a planned transition. When he succeeded founder Andy Berg as CEO in January, Carroll said the firm would be more focused on M&A in the coming years and the recent hires suggest efforts are well underway.
HB is primarily focused on growing its regional footprint, according to Carroll, with Florida a strategic priority. He said there are no plans to hire or acquire any specific service capabilities.
Acquired practices are offered equity and expected to adopt Homrich Berg branding, investment strategy, technology stack and client approach but may retain control of local operations. About one in five HB employees own equity, a percentage the firm is working to increase, and all acquired talent is brought in on a W-2 basis.
Homrich Berg is backed by a minority investment from New Mountain Capital and $75 million in debt financing.