Seller Details:
Nicholas Company, Inc. is an independently owned investment firm founded in 1967 and based in Milwaukee, Wisconsin, with $5.7 billion in assets under management and approximately 28,000 self-directed and intermediary shareholders. The firm has operated under the same investment philosophy, process and management since its founding. Its investment philosophy is based on a fundamental, bottom-up approach to security selection with a long-term investment horizon, focusing on securities offering secular growth characteristics, strong financial bases, reasonable valuations, and downside risk.
Buyer Details:
Janus Henderson Group is a leading global asset manager dedicated to helping clients define and achieve superior financial outcomes through differentiated insights, disciplined investments and world-class service. Janus Henderson has approximately half a trillion dollars in assets under management and offices in more than 25 cities worldwide. Headquartered in London, the firm helps millions of people globally invest in a brighter future together.
Transaction Summary:
Following completion of the transaction, the four Nicholas Funds will be reorganized into the Janus Henderson fund group on a tax-free basis, and the assets of Nicholas’ four U.S. equity mutual funds will be integrated into Janus Henderson’s self-directed investor offering. Clients will now have access to Janus Henderson’s investment expertise, expanded product lineup, digital capabilities and U.S.-based client support resources. In tandem with the transaction, Janus Henderson plans to launch the Janus Henderson U.S. Research Core Fund, into which the flagship Nicholas Fund will merge when the transaction and shareholder approvals are completed. Janus Henderson’s Research strategies total $40 billion in AUM with self-directed, intermediary and global institutional clients, and the addition of the Research Core Fund to Janus Henderson’s mutual fund product lineup further strengthens the firm’s investment offering in U.S. large cap equities.