NG Holdings acquires PI Financial for $100M

By Staff | November 20, 2018 | Last updated on November 20, 2018
1 min read
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NG Holdings Canada Ltd. has acquired investment firm PI Financial Corp. for $100 million, the firms announced on Monday.

Gary Ng, through NG Holdings, is acquiring Vancouver-based PI from its 54 employee shareholders in an all-cash deal. The acquisition closes on Nov. 30, a release said.

Ng is chairman and CEO of Toronto-based Chippingham Financial Group and is majority owner of The Rothenberg Group of Companies, a financial services broker based in Montreal. When the deal closes, he will become chairman of PI.

PI’s current president and COO, Jean-Paul Bachellerie, will become CEO after closing. Bachellerie has been a senior executive at PI for more than 20 years.

PI was founded in 1982 by Max Meier and John Eymann, who will step down as chairman and CEO, and vice-chairman, respectively, after closing, the release said. They will continue as advisors to their clients and counsel to the executive committee and management.

No other changes will be made to PI’s executives, management, advisors, staff or daily operations as a result of the acquisition, the release said. staff


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