Abel/Noser Corp. founders Stanley S. Abel and Eugene A. Noser Jr. agreed to a management-led buyout, the firm announced Thursday.
Abel/Noser’s management team will increase its ownership in the trade analytics firm, with support from private equity firm Estancia Capital Management, an Abel/Noser news release stated. Further information, including the size of Estancia’s investment, could not immediately be learned.
“The transaction is expected to strengthen the firm with capital available for both continued investment in its current businesses, as well as to support investment in additional services the firm has been developing, such as fixed-income transaction cost analysis,” the release said.
Terms were not disclosed. The transaction is subject to regulatory and other approvals.
As part of the transition, Ted Morgan, chief operating officer of Abel Noser Solutions, the firm’s financial technology arm, was named CEO of Abel/Noser Corp., and Peter Weiler, executive vice president, sales, was named president of Abel Noser Solutions. Additionally, Anthony Conroy was named president of Abel Noser LLC, the firm’s brokerage arm; Randy New, chief technology officer; and James Noser, executive committee chairman.
A spokesman could not immediately provide additional information.