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  • Dec 07, 2020Norris McLaughlin and 10-15 Associates, Inc., Close Deal to Sell Assets of Investment Advisory Practice

    The law firm of Norris McLaughlin, P.A., is pleased to announce that 10-15 Associates, Inc., a long-standing client of the firm, has closed a deal to transfer its ownership of their investment advisory practice to Wealth Enhancement Group, an independent wealth management firm that oversees $20.3 billion in client assets.

    “It has been rewarding to be outside counsel for this company helping them through the years on routine issues that come up here and there for active, successful businesses. We were happy to be able to give this client an exit and a way for them to capitalize on the asset they built over their careers, while also protecting their employees and the next generation of their family who was involved in the business,” said Oren M. Chaplin, a Member of the firm who was the main working attorney and lead counsel on this deal.

    David S. Blatteis, also a Member of the firm who assisted in this matter, added “Noteworthy about this transaction is that it is a sign of the times for the financial services industry – buyers like Wealth Enhancement Group are acquiring firms owned by the baby boomer generation and later generations.”

    “We have been involved with many buy-side and sell-side transactions in the financial services sector, so not only did we have the business law expertise for this transaction, but we were well-positioned to help our client accomplish their objective because of our intimate understanding and savvy working in this industry sector,” added Chaplin.

    About the Acquisition of 10-15 Associates, Inc.

    10-15 Associates, an independent registered investment adviser with offices in Goshen, Fishkill, and Tarrytown, New York, helps clients achieve their goals, protect and grow their assets, solve complex financial challenges, and retire with confidence. They offer strategic retirement, tax, and wealth management planning for individuals, and provide employers and businesses with 401(k) management for plan participants, educational resources, and advisory services. Since its founding in 1986, 10-15 Associates has grown to 16 employees, including seven financial advisors, and approximately $923 million in total client assets as of July 31, 2020.

    Wealth Enhancement Group, also a registered investment adviser, offers a three-step process of organizing, collaborating, and guiding clients through financial planning, retirement income planning, tax strategies, investment management, estate planning, and insurance. Since 1997, they have spread nationwide, with approximately $20.3 billion in client brokerage and advisory assets as of August 21, 2020. Along with the recent acquisition of CJM Wealth Management in Deer Park, New York, acquiring 10-15 Associates will allow the Wealth Enhancement Group to assist clients at six offices throughout the state, further shoring up their presence in the broader tri-state area.

    “We want to thank Oren and his team for all of their help in getting the transaction done,” said Debbie DeMatteo, Owner/CEO of 10-15 Associates. “We thought often over the last several months that we could never have anticipated having something like this for him to represent us on. He made the process much easier to get through than it would otherwise have been.”

    The deal, which closed on November 1, was one of a few 10-15 Associates considered, but having the opportunity to remain with the newly combined firm and participate in the combination as they continue to grow and realize more success helped make the choice an easy one. The financial terms of the deal remain confidential. For more information, please click here.

    About the Norris McLaughlin Mergers & Acquisitions Practice Group

    The Norris McLaughlin mergers and acquisitions attorneys have structured, negotiated, and closed numerous U.S. and international transactions ranging from small-scale to complex multi-million-dollar deals. The firm’s attorneys have vast experience in all aspects of such corporate transactions, including asset and stock sales, statutory mergers, tax-structured transactions, corporate reorganizations, tender offers, leveraged buyouts, LLC and limited partnership interest exchanges, financing arrangements, due diligence investigation, governmental approvals and clearances, and international transactions.

    Our dedicated business law attorneys can also assist with the analysis of tax, securities, labor, employee benefits, antitrust, real estate, intellectual property, environmental, and other legal issues related to mergers and acquisitions. More than 30 business law attorneys spend all or most of their time in a variety of disciplines within the field of business law. As a result, we have enough diversity of talent and bench strength to form teams of cross-functional attorneys, striving to create the right blend of general competence and expertise that are best situated to address our clients’ needs promptly, efficiently, and creatively.

    As experienced advisors, our attorneys ensure that each client has the proper structure in place to guide them on what they can expect and what investors will expect, prior to a client meeting with any potential investor. We take a unique approach in the early stage of company relationships, in that each client can expect a single partner to be responsible and accountable for that relationship. Recognized by clients as their trusted advisors and virtual business partners, our attorneys deliver efficient and practical legal counsel, supporting each client’s needs with an eye on their bottom line and what’s best for their future.

    Posted in: Business Law, David S. Blatteis, Mergers & Acquisitions, News, Oren M. Chaplin | Tags: , , , ,

  • Aug 02, 2018New Leadership at Norris McLaughlin, P.A.

    John N. Vanarthos, a Member of the law firm Norris McLaughlin, P.A., has been elected Chairman of the firm, following four years on the firm’s Management Committee.  He succeeds Matthew R. Sorrentino, who recently left the firm to serve as Chief Legal Officer of Lehigh Valley Health Network, one of the firm’s largest and oldest clients. In addition, David Blatteis and Graham Simmons have joined Dolores Laputka as Co-Chairs of the Business Law Group; and Daniel Guadalupe and David Roberts have been selected as Co-Chairs of the Litigation Practice Group. Robert Gabrielski has stepped down as Chair of the Business Law Group after ten years, and Robert Mahoney has stepped down as Co-Chair of the Litigation Practice Group after twelve years.

    “I am honored that my colleagues have elected me to be Chair of the firm.  It is my goal to preserve the special culture we created at Norris McLaughlin, P.A.over the last 65 years, while continuing to implement our strategic and growth plans for the future,” said Vanarthos.

    Vanarthos joined the firm in 1988 as a young Associate, earning Membership in 1996.  He has served many roles within the firm, including as Chair of the firm’s Business Law Practice Group for 10 years, and currently as a leader of the firm’s Recruitment Committee.  Vanarthos has devoted his practice to helping companies, both large and small, with their business legal needs.  As a business lawyer, he regularly represents and counsels the firm’s corporate clients in a wide range of commercial transactions, including mergers, acquisitions, corporate partnerships, and other strategic alliances.  He has substantial industry-specific experience including pharmaceutical, medical device manufacturing, chemical, information technology, and health care, among others.  He also advises high-tech companies in the areas of technology licensing, information management, and product development. Over the years, Vanarthos has represented individual entrepreneurs and startup companies.  He has strategically guided them from idea conception to exit strategy, solving their legal problems along the way.   He is a frequent speaker and author on a wide range of business law topics that are relevant to the firm’s clients. Vanarthos serves as counsel for the United States operations of several foreign-based corporations, where he is responsible for all legal issues in the U.S., including general business advice, contract and tax matters, litigation management, and employee relations. Vanarthos earned his J.D. from Rutgers School of Law – Newark in 1987 and his B.A. from Rutgers, The State University of New Jersey, in 1979.

    Blatteis is a member of the firm’s Management Committee.  He is a business lawyer concentrating his practice in the areas of pharmaceutical, pharma services, medical device, and healthcare. Blatteis understands the unique business and complex legal concerns of pharmaceutical companies and service providers in the pharmaceutical industry, as a result of his 18 years of experience serving as a trusted advisor to public and private companies in this space. He is also on the Advisory Board of Hip Innovation Technology, LLC, and is the New Jersey Chapter President of Pharmaceutical Consulting Consortium International, Inc.

    Simmons, a Member of the firm, is a business and real estate lawyer.  Simmons has served both public and private sector clients on all types of M&A transactions, commercial and syndicated credit facilities, economic development projects, real estate transactions, leases, and land use and zoning matters.  Simmons has represented clients across a diverse spectrum of industries and is deeply experienced in the banking and financial services, health care, real estate development, economic development, and automobile dealership industries.

    Guadalupe, a Member of the firm, represents clients in commercial litigation and “outside” general counsel assistance with a specialty in business disputes, medical device companies, construction, professional liability defense, arbitrations, trade secret and non-compete disputes, will and trust litigation, and international disputes.

    Roberts, a Member of the firm, devotes his practice to handling complex commercial litigation matters, such as fraud, fraudulent transfers, trade secret, restrictive covenant litigation, employment litigation, environmental matters, and insurance coverage litigation. His practice has a particular emphasis on partnership and shareholder disputes, including oppression and dissenter’s rights cases.  In 2007, Dave launched the Shareholder Dispute NJ blog, which addresses minority shareholder disputes in New Jersey.  In addition, he writes and lectures extensively on this topic.

    Posted in: Business Law, Daniel R. Guadalupe, David C. Roberts, David S. Blatteis, Dolores A. Laputka, John N. Vanarthos, Litigation, News, Robert C. Gabrielski, Robert Mahoney, S. Graham Simmons, III | Tags: , , , , , , , , , ,

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