8-K/AOther Events

AFFILIATED MANAGERS GROUP, INC. 8-K/A Report (Jan 14, 2002)

Filed January 14, 2002For Securities:AMGMGRBMGRMGRDMGRE

Summary

This Form 8-K/A filing by Affiliated Managers Group, Inc. (AMG) provides updated information regarding its acquisition of a majority equity interest in Friess Associates, LLC and Friess Associates of Delaware, LLC (collectively, "Friess Associates"). The transaction, which occurred on October 31, 2001, involved AMG acquiring a 51% stake for approximately $241.0 million. AMG also has an option to acquire an additional 19% interest in three years. The filing includes detailed financial statements for Friess Associates as of and for the year ended December 31, 2000, and unaudited interim financial statements for the nine months ended September 30, 2001. Additionally, it presents unaudited pro forma consolidated financial information for AMG, reflecting the combined results as if the acquisition had occurred at the beginning of the reporting periods. Investors can gain insights into the financial health and performance of the acquired entity and the potential impact on AMG's consolidated financials.

Key Highlights

  • 1AMG acquired a 51% majority equity interest in Friess Associates for approximately $241.0 million on October 31, 2001.
  • 2AMG has an agreement to acquire an additional 19% interest in Friess Associates in three years, subject to certain conditions.
  • 3The filing includes audited financial statements for Friess Associates for the year ended December 31, 2000.
  • 4Unaudited combined financial statements for Friess Associates are provided for the nine months ended September 30, 2001.
  • 5Unaudited pro forma consolidated financial statements for AMG are presented to show the potential impact of the acquisition.
  • 6The acquisition is accounted for using the purchase method, with a significant portion allocated to goodwill ($141.9 million in pro forma estimates).
  • 7The financial information for Friess Associates indicates significant revenue and net income in the periods presented.

Frequently Asked Questions

This filing is an amendment (8-K/A) to provide updated information regarding Affiliated Managers Group, Inc.'s (AMG) acquisition of a majority equity interest in Friess Associates. It includes the financial statements of the acquired business and pro forma financial information for AMG.

AMG acquired a 51% stake for approximately $241.0 million. Pro forma financial information suggests the acquisition significantly increased AMG's assets, with a substantial portion ($141.9 million estimated goodwill) attributed to the transaction. The pro forma income statements indicate a substantial contribution to AMG's revenues and net income.

For the year ended December 31, 2000, Friess Associates reported revenue of $90.8 million and net income of $60.2 million. For the nine months ended September 30, 2001, revenue was $56.8 million and net income was $32.0 million. The balance sheet as of September 30, 2001, showed total assets of approximately $19.2 million and total equity of approximately $18.3 million.

The unaudited pro forma consolidated financial statements are presented to give investors an idea of what AMG's financial position and results of operations would have looked like if the Friess Associates acquisition and certain financing transactions had occurred at the beginning of the reporting periods. It helps in understanding the potential impact of the acquisition on AMG's overall financial performance.