Dorsey Wright & Associates (DWA), a Richmond, Va.-based provider of technical investment research and money management services, has received a private equity investment of undisclosed amount from Falfurrias Capital Partners.
Following the transaction, Falfurrias will own a majority stake in the business but Tom Dorsey will continue in his role as President of DWA.
Goldman Sachs Specialty Lending Group provided financing for the transaction.
The company intends to use the proceeds from the investment to continue to scale the business through the addition of new asset management products, expand its technical investment research, and incubate and grow strategic initiatives such as StockEZY.com and AllETF.com.
Founded in 1987, Dorsey Wright & Associates provides stock brokers, money managers and individual investors with technical investment research and money management products. The company also provides advisory and sub-advisory services to various exchange traded funds and mutual funds.