National investment dealer to acquire leading Western Canadian investment dealer
VANCOUVER and CALGARY, June 29 /CNW/ - Haywood Securities Inc., one of Canada's leading independent investment dealers, today announced that it has signed an agreement to purchase the business of Bolder Investment Partners, Ltd. The Bolder acquisition will significantly expand Haywood's investment services, particularly in retail sales and trading.
Financial terms of the transaction were not released.
Bolder is an employee-owned-and-operated independent full-service investment dealer with offices in Vancouver and Calgary. Haywood and Bolder have had a long-standing business relationship dating back to Bolder's formation 12 years ago.
"This is a dynamic and fluid industry, and to be successful over the long term, we need to be part of a team with the expertise and capacity to finance larger deals," said C. Channing Buckland, Chairman and CEO of Bolder Investment Partners, Ltd. "By joining Haywood, our team will be able to extend its reach and provide greater value to existing and future clients."
"Chan is competitive, ethical and passionate about his business and we love that. He has built a great firm with a lot of talent and experience," said John Tognetti, Chairman of Haywood. "The cultures of our two firms are very similar and complimentary in a variety of ways and this deal will significantly expand our investment services. Bolder's managed funds offerings will add another dimension to Haywood's expanding universe."
Once the acquisition is finalized, employees from both firms are expected to move into Haywood's new Vancouver corporate offices to be located at Waterfront Centre.
Haywood and Bolder executed a definitive agreement on June 26, 2010. The transaction is subject to approval by shareholders of Bolder and regulatory approval.
About Haywood Securities
Founded in 1981, Haywood Securities is a private, 100-per-cent employee-owned investment dealer with more than 275 employees and Canadian offices in Vancouver, Calgary and Toronto. The firm is a member of the Toronto Stock Exchange, the TSX Venture Exchange, the Bourse de Montreal, Canadian National Stock Exchange, Investment Industry Regulatory Organization of Canada, the Canadian Investor Protection Fund and the Investment Industry Association of Canada. In addition, Haywood (USA) Securities Inc., a wholly owned subsidiary of Haywood Securities Inc., is a broker-dealer registered to transact securities business in the United States with the Financial Industry Regulatory Authority and is a member of the Securities Industry and Financial Markets Association. Similarly, Haywood Securities (UK) Limited is a wholly-owned subsidiary with offices in London, U.K. and registered with the Financial Services Authority (FSA) to service institutional customers in the U.K. More information about Haywood can be found at www.haywood.com.
About Bolder Investment Partners, Ltd.
Bolder Investment Partners, Ltd. is an employee-owned boutique investment dealer founded by Chan Buckland in 1998. Operating from offices in Vancouver and Calgary, Bolder offers comprehensive investment services in all areas, with specialization in retail sales and trading, corporate finance and equity capital markets.
SOURCE HAYWOOD SECURITIES
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