Ottawa’s Brigata Capital Management has agreed to sell its shares to and be amalgamated with IPC Portfolio Services Inc.
If the deal goes through, Brigata will become part of a IPCPSI subsidiary, Counsel Portfolio Services Inc.
"We believe the strong experience, product depth and management expertise of IPC and IPC Portfolio Services Inc. will provide our investors and advisors with a higher level of value, which Brigata Capital alone could not provide,” said Vince Valenti, Brigata’s president, in a statement.
IPCPSI is a subsidiary of Investment Planning Counsel Inc.
Simultaneously, IPC plans to purchase the shares of three other companies: the Independent Planning Group Inc. (which also has Mr. Valenti as president), IPG Insurance Inc. and Virtuco Technologies Inc.
Ottawa-based IPG’s website offers services from each of those companies, as well as Brigata, on its website.
No suggested purchase price for any of the transactions has been disclosed.
Brigada unitholders will decide on whether to approve the acquisition in a special meeting that should be held in the fall. The takeover would occur shortly afterwards if they give the go ahead.