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Innovest acquires PDS Companies

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Innovest has completed the acquisition of PDS Companies (PDS), a financial technology and services provider based out of Arlington, Texas that specialises in unique and hard-to-value assets (real estate, closely held companies, oil & gas, farm & ranch, notes and mortgages).

“The PDS team has a great deal of expertise in the highly complex but rapidly growing alternative asset market,” says Glenn Schmidt, chief executive officer of Innovest. “In addition, PDS has a longstanding reputation for its commitment to outstanding customer service. The expertise of the staff and the loyal client relationships are both a big part of what we found attractive in the deal. We are looking forward to welcoming the PDS team to Innovest.”
 
PDS has been in business for over 30 years and operates several divisions including financial technology software, operational outsourcing, consulting services, and tax services. PDS serves a range of institution types including Ultra High Net Worth (UHNW), Family Office, and International Banks. PDS has created the only integrated platform for the preservation, management, and oversight of unique and hard-to-value assets held in the fiduciary context in the country.
 
Glynn Broussard, chief executive officer of PDS, says:, “Innovest’s investment represents a significant opportunity for us. Innovest has long been ahead of the curve in the financial technology space and is a proven market leader. We are very pleased with the growth opportunities this presents us with and we look forward to working with the Innovest team.”
 
Broussard and other key management members of PDS will be staying on with Innovest.
 
The acquisition closed on 18 August, 2017. Terms of the deal have not been disclosed.
 

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