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Investors Capital to be sold for $52.2m

Investors Capital offers investment advisory and broker-dealer services.
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Investors Capital offers investment advisory and broker-dealer services.

“Continuing his acquisition binge,” InvestmentNews.com reported, Nicholas Schorsch is acquiring independent broker-dealer Investors Capital Holdings Ltd. His RCS Capital Corp. has signed an agreement to buy the Lynnfield firm for $52.2 million, or $7.35 per share. Many holders of its stock bought shares from founder Ted Charles in 2011 for $4.25, the news site said. ICH is a financial services holding company that operates through its wholly owned broker-dealer, Investors Capital Corp. RCS Capital focuses on the retail direct-
investment industry.

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