Estancia Capital Partners and PMA Complete Sale of PMA to TA Associates

Naperville, Ill. – February 9, 2024 – Estancia Capital Partners (“Estancia”) and its portfolio company  PMA Financial Network, LLC (“PMA”), a premier full-service provider of comprehensive financial and advisory services to municipalities, school districts and other local government entities, completed the majority acquisition of PMA by TA Associates (“TA”), a leading  private equity firm focused on investing in and growing companies providing business critical solutions to the financial system. Terms of the agreement were not otherwise disclosed.

“We are excited to enter our next phase of growth with TA as our partner,” said James O. Davis, Chief Executive Officer of PMA. “Estancia has been a great partner for PMA, and my colleagues and I are proud to have led the business through a very successful majority exit for Estancia, its co-investors, and PMA’s employee equity owners. We expect to continue our accelerated growth path under TA’s ownership.”

Dana Alan Kurttila, Managing Director of Estancia, stated, “PMA possessed all the characteristics Estancia seeks in an investment – Founder owners pursuing liquidity, a strong existing management team with a clear vision for growth, distinctive value proposition for a large and growing serviceable addressable market and meaningful inorganic add-on opportunities. We couldn’t be more pleased to have been PMA’s partner since 2019 and are highly confident in the company’s prospects going forward.”

“It is always bittersweet to exit a business after spending considerable time growing such a successful company and building strong personal bonds with the executive leadership team,” stated Darrin Jeffries, Estancia’s COO and General Counsel. “PMA’s growth continues to accelerate, and we are proud that a sponsor of TA’s caliber recognized the strength of PMA’s platform, the quality of PMA’s management professionals and their dedication to clients’ interests.”

PMA and Estancia were advised by Jefferies LLC and Kirkland & Ellis LLP. TA was advised by Debevoise & Plimpton LLP.

About PMA

PMA Financial Network, LLC, PMA Securities, LLC, and Prudent Man Advisors, LLC (collectively “PMA” or “the PMA companies”) are three PMA companies that work to provide integrated financial solutions to public entities. The PMA companies currently serve over 4,000 public entities in twelve states offering a full range of products and solutions for public funds management and public finance managers. With services ranging from investment advisory capabilities through Prudent Man Advisors to public finance work with PMA Securities, among others, the PMA companies are focused on achieving long-term financial success for their clients. For more information, go to www.pmanetwork.com.

About Estancia

Estancia is a specialist private equity firm investing in lower middle-market companies providing mission-critical solutions to the financial system. Estancia’s Principals have a history of successfully partnering with management teams in providing buy-out and growth capital to facilitate strategic development of portfolio companies including management buy-outs from larger financial firms, private ownership/succession transitions, growth initiatives and team lift-outs. For more information, visit www.estanciapartners.com.

Estancia Media Contact:

Takashi Moriuchi, Co-Founder and Managing Director
480-448-5002 direct
tmoriuchi@estanciapartners.com

PMA Media Contact:

Matt Orseske, VP – Marketing
630-657-6408 direct
morseske@pmanetwork.com