Savant Capital Management expanded its presence in the Chicago market and boosted its assets to nearly $4.5 billion with the recent acquisition of Orion Capital Management.
Winnetka, Ill.-based Orion is a fee-only independent registered investment advisor with six employees and $150 million in assets under management. The move to join Savant was seen as a good growth opportunity for Orion, the firm’s president and founder James W. Kyle Sr. said in a statement Thursday.
“This partnership will make us all stronger and our clients win in that scenario – as true fiduciaries, we are compelled to act in our clients’ best interests at all times, and joining Savant unquestionably falls into that category,” Kyle said.
Orion’s acquisition is latest in a string of deals completed by Savant, the third in less than year and a half. Another recent acquisition, Paragon Advisor had about $150 million in assets when Savant acquired the firm in January 2014. Over the next year, Paragon proceeded to add an additional $30 million in client assets. Orion, situated along the North Shore of Chicago, is at approximately the same point Paragon was in its growth cycle, according to the press release announcing the deal.
The Orion deal officially closed on April 30, 2015. Going forward, Savant will continue to evaluate potential partners, both in the Chicago area and beyond.