Mattioli Woods is set to acquire private equity business Maven and financial planning firm Ludlow Wealth Management in separate multi-million pound deals.
UK wealth manager splashes out £143.5m on double swoop
By Robbie Lawther, 26 May 21
As it plans £110m equity fundraise to finance acquisitions
Leicester-headquartered Mattioli Woods has acquired alternative asset manager Maven Capital Partners UK and the holding company of Ludlow Wealth Management Group.
The combined price for the two deals is up to £143.5m ($203.2m, €166m).
They are in line with the group’s strategy to “accelerate growth through strategic acquisitions while enhancing organic growth opportunities; adding scale, distribution and product”, Mattioli Woods said in a stock exchange filing.
It has built its staff numbers from 22 in 2009 to more than 100. Mr Nixon said of the deal which sees Maven acquired by Mattioli Woods: Today marks an important step in the continued evolution and growth of the Maven business. Since being established in 2009, Maven has grown year on year, developed innovative new products and income lines, and has become one of the UK’s most active and dynamic alternative asset managers, supporting more than 400 companies over that period. Over the past 12 years we have grown from 22 people to a headcount of almost 100 colleagues, and now have a presence in key cities across the UK, with a team which is recognised as having a collaborative and can-do culture, in supporting the growth of a wide range of private companies, alongside a small number of carefully selected property development projects.