Overland Park-based Prime Capital Investment Advisors sold a minority stake to Boston based private equity firm Abry Partners for an undisclosed amount.
As part of the agreement, Abry will provide additional investment capital and join the Prime Capital board of directors. Prime Capital CEO Glenn Spencer said the partnership with Abry was part of a recapitalization of the company.
“We put a new credit facility in place and took an investment from Abry,” Spencer said. “It gives us a lot more financial flexibility moving forward, to continue to grow and invest in the business. They also bring some strategic expertise that we really didn’t have. They understand the business very well.”
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