Goelzer sells business valuation arm

November 2, 2007

Indianapolis-based Goelzer Investment Management has sold its business valuation and corporate financial advisory service unit, Goelzer Investment Banking, for an undisclosed price.

The buyer, GBQ Partners LLC of Columbus, Ohio, is the largest such accounting and consulting firm in the state. It is led by former Goelzer professional Robert Stutz.

"Goelzer has been and always will be the gold standard within the Indiana business valuation community," Stutz said in a statement.

Goelzer Investment Management is staying independent and will continue focusing on investment planning and advice to individuals, families and institutional investors. It manages $1.6 billion in assets.

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