Mergers and Acquisitions

UMB Fund Services acquires J.P. Morgan managed account solutions business; Rytec Corp. acquires Ohio company; Red Prairie acquires San Francisco company

UMB Fund Services acquires J.P. Morgan managed account solutions business

Milwaukee-based UMB Fund Services (UMBFS) Inc. has agreed to purchase the Managed Account Solutions business of J.P. Morgan Worldwide Securities Services.

The business provides back office and middle office services for retail managed accounts of asset managers. It will service existing J.P. Morgan Worldwide Securities Services Managed Account Solutions clients and also will be actively marketed across the United States, the company said. UMB Fund Services will open offices in Boston and Jersey City, N.J., to accommodate employees who will be joining the company from J.P. Morgan Worldwide Securities Services.

Financial terms of the deal were not disclosed. The deal is expected to close June 30.

“We are excited about this acquisition because it gives UMBFS the ability to service the rapidly growing managed accounts segment of the marketplace, and are pleased to welcome the talented workforce joining UMBFS and look forward to serving current and future clients with the best talent in the business,” said John Zader, chief executive officer of UMBFS. “Providing a suite of managed account solutions gives UMBFS clients even more of a ‘one-stop shop’ experience and will further enhance our brand and sales message while giving us another way to broaden and deepen relationships with our clients and prospects.”

UMB Fund Services is a subsidiary of Kansas City, Mo.-based UMB Financial Corp. UMB Fund Services offers a line of products and services to the fund industry, including administration and fund accounting, investor services and transfer agency, marketing and distribution, custody, cash management, alternative investment services through JD Clark & Co., and managed account services. It currently serves more than 165 clients with combined assets of more than $167 billion.

Rytec Corp. acquires Ohio company

Jackson-based Rytec Corp., the leading North American manufacturer of high-speed, high-performance doors, will acquire privately-held Wynd Star Doors,  a Loveland, Ohio-based manufacturer of automated doors for carwashes.

Rytec manufactures highly specialized doors to address specific operational and environmental challenges in industrial, commercial, pharmaceutical and cold-storage applications. The acquisition extends Rytec’s reach into the automobile-related door market.

"The carwash market requires industrial-strength, corrosion-resistant and cost-effective doors — a perfect fit for Rytec. By combining the Wynd Star Doors with our existing line of high-performance doors, Rytec is well-positioned to meet the needs of this environment," said Don Grasso, chairman and chief executive officer of Rytec.

Red Prairie acquires San Francisco company

RedPrairie Corp., a Town of Brookfield-based  productivity solutions provider, has completed its acquisition of SmartTurn, a San Francisco-based on-demand logistical software company.

The acquisition adds a multi-tenant software-as-a-service (SaaS) WMS to RedPrairie’s E²e productivity suite and creates the only software company with a WMS solution for distribution operations of all sizes and levels of complexity.

SmartTurn’s Inventory and WMS solution, which is running at more than 200 facilities, will be rebranded as RedPrairie’s On-Demand WMS and will focus on less complex distribution operations with rapid implementation demands and flexible pricing model requirements.

“The continued growth and emphasis in supply chain execution requires that all companies, regardless of size, have access to technologically advanced inventory and WMS solutions,” said Mike Mayoras, chief executive officer of RedPrairie.

Jim Burleigh, CEO of SmartTurn, said, “Our experience has shown that companies everywhere are depending on better inventory controls to improve their productivity. We are excited to join RedPrairie and are looking forward to continuing to build on the success of our on-demand WMS.”

Financial terms of the acquisition were not disclosed.


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