Investment consultancy Ellwood Associates is to acquire Colorado-based Watershed Investment Consultants, subject to customary closing conditions, including obtaining consents from Watershed clients. The closing is expected to occur on or about 31 May.
Ellwood and Watershed are both private, SEC registered, employee-owned firms that provide research-based investment related counsel and services for institutions and high net worth individuals and families. Financial terms of the transaction were not disclosed.
According to Russell Hill, Ellwood's Chairman and CEO: "This combination is designed to benefit the clients of both firms. Ellwood clients will gain from the addition of three highly respected investment professionals with decades of experience, who share our core values and standards of client service. Watershed clients will gain from the professional depth and operational and research resources that Ellwood has established over the past 39 years."
Upon completion of the transaction, Watershed's three principals – Dale Connors, Paul Schreder and Kevin Yoshida – will become Senior Consultants and have equity ownership positions at Ellwood, and will continue to operate from Watershed's current location in Greenwood Village, Colorado. The transaction will not affect existing relationships with Ellwood clients, or the current operating structure of Ellwood. Watershed clients will become clients of Ellwood upon completion of the transaction.
Watershed's Managing Director, Paul Schreder, says: "There are very few firms, regardless of size, that we believed would make it worthwhile for Watershed to retire its brand name. But Ellwood's longstanding reputation in investment consulting, its deep research and operational resources, and demonstrated independence, integrity and client focus, convinced us that a partnership would enable us to better serve our clients, and to grow professionally by being part of a larger team. We will be proud to be associated with the Ellwood brand."