Durham-based Tri Pillar Investments acquired by Atlanta firm

cjurney@newsobserver.comJune 4, 2014 

Atlanta Capital Group has acquired Durham-based investment advisory firm Tri Pillar Investments in a continued effort to serve health care professionals in the state.

Tri Pillar, which specializes in offering investment services to health care professionals, manages $65 million in assets to the Atlanta-based wealth management company. Terms of the all-cash deal weren’t disclosed. The acquisition is ACG’s third in North Carolina and 13th nationwide.

“North Carolina is a state we are focused in because it’s growing and has great economics,” said David Millican, founding principal partner of AGC. “It makes strategic sense.”

He said the company is looking to make more acquisitions in North Carolina, particularly in the health care industry. ACG has more than $1.4 billion in assets under advisement.

ACG plans to offer Tri Pillar’s existing clients a range of additional daily services, including loan negotiations, airline booking, legal services and financial planning, Millican said.

The firm will be operated as an arm of ACG. Tri Pillar President Troy Buder has been named a managing director with ACG and will continue to head the Durham office.

Tri Pillar has six employees and Buder said the company will hire three new representatives to focus on local universities. Millican said ACG will also add two advisers and hopes to increase hiring in the Triangle in the future.

ACG did not initially intend to target medical professionals when it was founded in 2002, but a third of its clients now work in the health care industry. “There’s no better area in the Southeast than the Research Triangle when dealing with this field,” Millican said.

He said Tri Pillar has spent a lot of time forging valuable relationships, especially within universities.

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