The employees of Montag & Caldwell have purchased the firm from BNP Paribas Fortis. Terms of the deal were not made public. Employees will own 100 percent of the Atlanta-based asset manager when the deal is complete.

Montag & Caldwell sub-advises the Aston/Montag & Caldwell Balanced Mutual Fund.

Keith Mitchell of Mitchell Hartley Advisers advised Montag & Caldwell on the deal.

Montag was purchased by ABM-AMRO in 2001. ABN-AMRO, in turn, was merged with Fortis in 2008. Last year, BNP Paribas purchased Fortis.  

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