ROCKFORD (WIFR) – Savant Capital Management today announced its acquisition of Paragon Advisors, a Naperville, IL based registered investment advisory firm that manages $150M in assets. The acquisition will bring Savant’s current AUM to $3.7 billion and strengthens Savant’s Chicago-area footprint with the addition of 130 Illinois families.
Savant is an opportunistic acquirer, meaning it will only do deals that fit its model near-perfectly and desire to fully integrate and leverage Savant’s best-in-class platform, rather than targeting assets simply for the sake of getting bigger. In July of 2012 it successfully combined with The Monitor Group, an independent fee-only RIA firm in McLean, VA. Savant will continue to seek out potential M&A partners, both in the Chicago area, and beyond.
The deal with Paragon Advisors officially closes on December 31, 2013.