Hot on the feet announced one the new position of chief adviserHomrich Berg has added a new role dedicated to identifying and cultivating acquisition opportunities.
An investment banking analyst in his early career, Andrew Page spent five years working in direct investments and buyouts for Focus Financial and its partner network, before joining Focus partner firm Ancora Holdings Group in 2022. As a director and partner at Ancora, he led the M&A Activity and other strategic initiatives.
At HB, Page will work to develop relationships with firms and advisory teams to identify and judge attractive acquisition targets.
“Homrich Berg planted its flag 35 years ago in trusted fee-only service and has built a reputation as one of the industry's leading firms. Its commitment to holistic customer service is a strong starting point for any acquisition or partnership,” Page said in a statement. “The management team here is excellent and HB's thoughtful approach to growth creates a strong foundation for strategic acquisitions upcoming.”
“We knew we needed an experienced leader like Andrew who understands both the M&A market and the type of professionals who will fit in well with HB,” added HB President and CEO Thomas Carroll. “He joins us at an important point in our history as we continue to seek firms and advisors who are aligned with our values and appreciate the benefits of joining our firm.”
With $16 billion under management, HB has more than doubled its assets since Carroll joined the firm in early 2020 as part of a planned transition. When he succeeded founder Andy Berg as CEO in January, Carroll said the firm will be more focused on M&A in the coming years, and recent hires suggest that effort is well underway.
HB is primarily focused on growing its regional footprint, according to Carroll, with Florida a strategic priority. He said he has no plans to hire or acquire any specific service skills.
The acquired practices are offered with equity and are expected to adopt the Homrich Berg brand, investment strategy, technology stack and customer approach, but may retain control of local operations. About one in five HB employees owns equity, a percentage the firm is working to increase, and all earned talent is brought in on a W-2 basis.
Homrich Berg is backed by a minority investment from New Mountain Capital and $75 million in debt financing.