Foley Hoag Represents ThomasPartners in Sale to Charles Schwab

December 18, 2012

Foley Hoag LLP represented ThomasPartners, Inc. in its sale to leading financial services provider the Charles Schwab Corporation.  The deal includes an upfront payment of $85 million in cash and the opportunity for additional payments contingent on future growth in assets under management (AUM).

ThomasPartners is a dividend income-focused asset management firm with $2.3 billion in AUM as of September 30, 2012, in largely growth-oriented investment portfolios designed to generate dividend income streams. The Wellesley, Mass.-based firm has consistently outperformed relevant benchmarks over the nine-year history of its dividend product.

Foley Hoag partners Robert Birnbaum and Mark Haddad represented ThomasPartners in the transaction, with support from others at the firm, including associates Adrienne Ellman and Patrick Connolly, and partner Teresa Martland.

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