SUNNYVALE, Calif.--(BUSINESS WIRE)--Jul. 19, 2018--
Financial Engines, Inc. (“Financial Engines”), America’s largest
independent investment advisor1, and Hellman & Friedman, a
leading private equity investment firm, today announced the successful
completion of the acquisition of Financial Engines by funds affiliated
with Hellman & Friedman. As part of the transaction, Financial Engines
has been combined with Edelman Financial Services (“Edelman”), one of
the nation’s largest independent financial planning and investment
management firms. Hellman & Friedman owns a majority interest in
Edelman. The acquisition was previously announced on April 30, 2018, and
closed and became effective today.
Under the terms of the transaction, Financial Engines stockholders are
entitled to receive $45.00 per share in cash. As a result of the
completion of the acquisition, Financial Engines’ common stock ceased
trading as of today on the NASDAQ Stock Market.
Sandler O’Neill & Partners, L.P. acted as financial advisor to Financial
Engines, and Wachtell, Lipton, Rosen & Katz provided legal counsel to
Financial Engines. Morgan Stanley, J.P. Morgan, Barclays, Deutsche Bank
Securities Inc., and UBS Investment Bank acted as financial advisors to
Hellman & Friedman and Simpson Thacher & Bartlett LLP provided legal
counsel to Hellman & Friedman and Edelman.
About Financial Engines
With roots in Silicon Valley, Financial Engines is the nation’s largest
independent investment advisor2. We believe that all
Americans – not just the wealthy – should have access to high-quality,
unbiased financial help and our client’s best interests should always
come first. Today, more than 750 of the nation’s most respected
employers trust Financial Engines to offer professional financial help
to over ten million employees nationwide.
For more information, visit www.financialengines.com.
About Edelman Financial Services
Edelman Financial Services is one of the nation’s largest independent
financial planning firms providing financial planning and investment
management services to over 35,000 individuals and families, and
managing more than $21.7 billion in assets. Edelman Financial Services
has won more than 100 financial, business, community and philanthropic
awards, and offers an investment philosophy that puts clients first and
delivers value through in-depth financial education, personalized
financial plans and access to experienced financial planners.
For more information, visit www.EdelmanFinancial.com.
About Hellman & Friedman
Hellman & Friedman is a leading private equity investment firm with
offices in San Francisco, New York, and London. Since its founding in
1984, Hellman & Friedman, through its affiliated funds, has raised and
managed over $35 billion of committed capital. The firm focuses on
investing in superior business franchises and serving as a value-added
partner to management in select industries including financial services,
software, business & information services, healthcare, internet & media,
retail & consumer, and industrials and energy.
For more information on Hellman & Friedman, please visit www.hf.com.
1 For independence methodology and ranking, see
InvestmentNews Center (http://data.investmentnews.com/ria/).
For independence methodology and ranking, see InvestmentNews Center (http://data.investmentnews.com/ria/).
©1998-2018 Financial Engines, Inc. (NASDAQ:FNGN) All rights reserved.
Financial Engines® is a registered trademark of Financial Engines, Inc.
All advisory services provided by Financial Engines Advisors L.L.C.
Financial Engines does not guarantee future results.
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Source: Financial Engines, Inc.