The employees of Montag & Caldwell
have purchased the firm from BNP Paribas Fortis
. Terms of the deal were not made public. Employees will own 100 percent
of the Atlanta-based asset manager when the deal is complete.
Montag & Caldwell sub-advises the Aston/Montag & Caldwell Balanced Mutual Fund
of Mitchell Hartley Advisers advised Montag & Caldwell
on the deal.
Montag was purchased by ABM-AMRO in 2001. ABN-AMRO, in turn, was merged with Fortis in 2008. Last year, BNP Paribas purchased Fortis.
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