Wealth Enhancement Group, a fast developing wealth management firm, will receive an equity investment from Onex Corporation, the two firms announced Tuesday.

After the close of the deal, Onex and Wealth Enhancement Group’s current capital provider, TA Associates, will be equal partners. The amount of the investment was not released.

The deal sets Wealth Enhancement Group, which is based in Minneapolis and has nearly $40.2 billion in client assets, up for future growth, the firm said. The Onex Corporation is an investment firm and asset manager based in Toronto. The agreement, which is expected to be completed later this year, will “help drive Wealth Enhancement Group’s next stage of organic growth and M&A expansion,” the firm said.

Year to date, Wealth Enhancement Group has added more than $2.4 billion in assets organically while also entering definitive agreements on 10 acquisitions representing $10.4 billion in total assets.

Going forward, Wealth Enhancement Group will continue to be privately held and led by its current management team headed by Jeff Dekko, CEO; and Jim Cahn, chief investments and business development officer; Kelly Windorski, CFO; Utkarsh Patel, chief digital And marketing officer; and Terri Kallsen, chief operating officer. In addition to the firm’s capital partners TA and Onex, a large number of employees will continue to hold equity stakes in the firm.