Mattioli Woods acquires city counterpart in £7m deal
Leicester-based wealth management firm Mattioli Woods has acquired fellow city company Pole Arnold Financial Management in a deal worth up to £7m.
Pole Arnold was established in 2012 and provides advice to around 360 private and corporate clients with approximately £245m of assets under management and advice. It employs 16 people, all of whom will remain with Mattioli Woods once the deal has been finalised.
In the year ended 31 March 2020, Pole Arnold generated revenues of £2.11m with a profit before tax of £810,000.
Ian Mattioli, chief executive of Mattioli Woods, said: “We are delighted to welcome Mike and his experienced team as part of Mattioli Woods. I have known Mike for many years and admired how he and his team have grown a great business, built on a strong client-focussed culture and a commitment to going the extra mile. The transaction expands the Group’s presence in both Leicester and London, underlining our commitment to continuing growing both organically and by acquisition.”
Mike Pole, Pole Arnold’s managing director, added: We have known a number of the senior management team at Mattioli Woods for 25 years, and given their successful track record we are looking forward to joining forces with them to achieve our objectives and to secure our advisory services to our clients.
“It is very much business as usual. I and my co-directors Mike Nevill, Rob Bunting and Richard Todd continue in the business, as well as all of our support team in our Leicester office.”