Park Sutton Advisors represents Peapack-Gladstone Bank on its acquisition of Lassus Wherley & Associates

New York, NY – July 2, 2018 – Park Sutton Advisors, LLC (“Park Sutton Advisors”) is pleased to have served as financial advisor to Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), the parent company of Peapack-Gladstone Bank, on its pending acquisition of Lassus Wherley & Associates, P.C., a fee-only wealth management firm with over $500 million in assets under management. The transaction is expected to close in the third quarter of 2018 and to be immediately accretive to PGC earnings.

Established in 1985 with locations in New Providence, NJ and Bonita Springs, FL, Lassus Wherley brings deep knowledge of financial planning, investment management, tax preparation, trust services, and family office support.   “Lassus Wherley believes in providing clients with peace of mind. They believe in integrity, transparency and building solid relationships,” said John P. Babcock, President of Peapack Private Wealth Management.  He went on, “We continue to look for talented firms, that are like-minded and built on the foundation of providing advice-led solutions, and doing the right thing. We are looking forward to introducing Lassus Wherley as a valuable part of the Peapack Private brand.” 

“We are honored to have advised repeat client Peapack-Gladstone on the continuing build-out of its wealth management acquisition strategy in the Tri-State New York/New Jersey region especially with such a prestigious target in central New Jersey,” said Annie Tronoski, Managing Director and Partner of Park Sutton Advisors.  “Guiding our clients through each stage of a transaction, from start to closing, remains one of the tenets of our work, day-in and day-out.  We wish the best for Peapack-Gladstone and Lassus Wherley as they combine their wealth management efforts.” 

Steven Levitt, Founder of Park Sutton Advisors, went further to say “We continue to see a frenzied deal pace in the RIA industry. Throughout the United States the number of potential RIA buyers continues to expand. More and more potential sellers are evaluating their strategic alternatives as they consider the competitive landscape of the next 5-10 years.  Even as this is our 5th deal announced year-to-date, Park Sutton Advisors remains committed to providing valuation and transaction structuring advice that is both sophisticated and practical resulting in more completed deals on behalf of our clients.”

About Park Sutton Advisors

Park Sutton Advisors is a leading investment banking boutique specializing in the financial services industry. With over 60 years of aggregate experience, our senior team has worked in many facets of the financial services industry, including investment banking, asset management and mutual funds, consumer finance, insurance, equity research, and funds evaluation. Park Sutton’s advisory services encompass mergers and acquisitions, divestitures, strategic alliances, joint ventures, capital raises, valuations, fairness opinions, succession planning, expert witness testimony, and other strategic consulting projects. Our clients consist of traditional and alternative asset managers, wealth managers, banks, insurance companies, broker-dealers, fund administrators, and other related financial services businesses.  For more information, please visit www.parksuttonadvisors.com or contact us.