#Canada #Private Equity #Winnipeg #Wellington-Altus #Kelso & Company

Wellington-Altus Secures Major Investment

Wellington-Altus Financial Inc., known as Canada's leading investment dealer, has unveiled an ambitious strategic investment initiative. The company has secured an impressive $400 million CAD minority equity investment from Kelso & Company, a prominent private equity firm based in the United States that is celebrated for its commitment to employee ownership. This investment not only solidifies Wellington-Altus's standing in the financial market but also establishes an enterprise value exceeding $1.5 billion CAD.

A Milestone Deal

According to the announcement made on October 20, 2025, Kelso is set to acquire a 25% minority stake in Wellington-Altus through this common equity transaction. This significant capital influx represents a crucial step in the firm’s growth trajectory, validating its robust business model and paving the way for future expansion.

Particularly noteworthy is that this agreement allows existing Canadian shareholders the opportunity to cash out a portion of their holdings while ensuring that the majority ownership remains with Canadians. Notably, the group's largest shareholder category consists of advisors and employees. An overwhelming majority of the current shareholders have expressed their agreement to support the transaction through written consent.

Strategic Partnership

Shaun Hauser, the Founder and CEO of Wellington-Altus, expressed excitement over the partnership with Kelso, stating, “We are thrilled to welcome Kelso as our new strategic equity partner. Kelso's pioneering history in employee share ownership and extensive experience in the wealth advisory sector make them an ideal ally as we aim to revolutionize wealth management in Canada. This mutual collaboration also allows our advisors and employees—our largest shareholder group—to unlock additional value from their investments.”

Kelso's Partner, Bill Frayer, reinforced the sentiment, emphasizing their investment philosophy rooted in alignment and partnership. He praised Wellington-Altus for its innovative approach, entrepreneurial spirit, and exceptional management, underscoring its reputation as the firm of choice for independent financial advisors across Canada.

Continued Support and Future Plans

Additionally, Cynosure Group, an existing investor with over $100 million CAD invested in Wellington-Altus, continues to show strong support for the company's growth narrative and is not seeking liquidity at this time. The partnership with Kelso is expected to bolster the firm's infrastructure, allowing for significant advancements in services and client offerings.

Ardea Partners LP acted as the exclusive financial advisor for Wellington-Altus during this transaction, while Goldman Sachs & Co. LLC served as an advisor to Kelso. Furthermore, the INFOR Financial Group has provided the Board of Directors with a verbal opinion confirming that the consideration offered to Wellington-Altus shareholders is fair from a financial standpoint.

The investment is contingent upon approval from Wellington-Altus shareholders and regulatory bodies in Canada, along with customary closing conditions. The transaction is projected to finalize in early 2026, with multiple detailed communications expected to be shared with shareholders in the upcoming weeks.

About Wellington-Altus Financial Inc.

Founded in 2017, Wellington-Altus Financial Inc. operates as the parent company to various subsidiaries including Wellington-Altus Private Counsel Inc., and others. It is recognized for being a premier investment dealer in Canada, managing over $40 billion CAD in assets across its widespread offices. The firm aligns its focus with successful advisors and high-net-worth clients, fortifying its commitment to excellence in financial services.

About Kelso

Kelso is renowned within the private equity landscape for its focus on the middle-market segment and is built upon principles of partnership and aligned interests established by Louis Kelso—creator of the Employee Stock Ownership Plan (ESOP). Established in 1980, Kelso has dedicated itself to fostering collaborations within the financial services and wealth management sectors by participating in several prominent investments.

This transaction marks a significant benchmark for Wellington-Altus, showcasing a robust commitment not only to growth but to a sustainable approach in the evolving landscape of financial advisory services.