Ladenburg Thalmann Financial Services is purchasing Securities America Financial and its subsidiaries from Ameriprise Financial for nearly $150 million. The transaction, which is expected to close by the end of 2011, will be financed by an affiliate of Phillip Frost, Ladenburg’s principal shareholder and Chairman of the board.
On the deal, Jefferies & Company is the financial adviser for Ladenburg, while the seller’s financial adviser is investment bank Lazard. Post-deal, Jim Nagengast, president and CEO of Securities America, as well as Securities America’s senior management team will continue to run Securities America as a stand-alone business based from La Vista, Nebraska.
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