Cherry Tree Advises Oak Ridge Financial Services Group on its Sale to Private Investors
Cherry Tree & Associates investment bank advised the shareholders of Oak Ridge Financial Services Group, Inc., in their sale to Oak Ridge Acquisition Corp., a firm formed by Russell S. King and Jacob Simms.
Oak Ridge Financial is a leading full-service Midwest broker-dealer and registered investment advisory firm based in Golden Valley, MN. Its Private Client Services Group serves more than 3,000 clients in 46 states with offerings including securities trading, investment management, estate planning, wealth management and insurance. Its Investment Banking Group advises on capital raises, mergers and acquisitions, and other services to community banks and emerging growth companies.
“Russell and Jacob are the perfect team to see this through, and the company is in great hands with them at the helm,” said Oak Ridge CEO Marc Kozberg. “They have an exciting plan to grow the company and help our professionals continue to deliver the superior service our clients have come to expect from us.” Kozberg led the selling shareholder group and is turning over the leadership to King.
“Oak Ridge Financial is incredibly well-positioned for tremendous growth and success, thanks to its outstanding staff and loyal clients,” said King. “Jacob and I are excited to help the organization capitalize on its significant potential. We extend our sincerest thanks to Marc Kozberg for all he has done to build Oak Ridge.”
King and Simms are, respectively, president and chief investment officer of King Capital Corporation, a Minneapolis-based private firm that manages a proprietary portfolio of securities, funds and limited partnerships. It also manages the Peter J. King Family Foundation, which awards major grants to organizations focusing on family initiatives and children’s health care.
Oak Ridge Financial was founded in 1977 and has been under control of a shareholder group led by Marc Kozberg since 2004. It is a member of FINRA and SIPC. More information about Oak Ridge Financial is available at www.oakridgefinancial.com.
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis. Cherry Tree was founded in 1980, and specializes in M&A transactions for both buyers and sellers of middle market companies. It also conducts private placements for entrepreneurially-managed growth companies, provides strategic advisory services to CEOs and boards of directors, and prepares fairness opinions and other valuation services. More information is available at www.cherrytree.com.