Mattioli Woods swoops in £143.5m double deal

Ian Mattioli MBE

Leicester wealth management firm Mattioli Woods has revealed plans for a double acquisition worth almost £145m.

The company has hailed the £100m swoop for private equity firm Maven Capital Partners and a £43.5m deal to buy north-west-based Ludlow Wealth Management as “significant milestones” in its journey.

Management expects profit growth for Maven in each of the two years ending 31 March 2021 and 2022 and material profit growth for Ludlow Wealth Management for the year ending 30 September 2021.

To fund the deals, Mattioli Woods has issued a cash call to raise £110m through a share issue.

Ian Mattioli MBE, chief executive officer of Mattioli Woods, said: “These acquisitions mark significant milestones in Mattioli Woods’ journey. Since our admission to AIM in 2005 we have seen significant expansion in both the size and nature of our business, responsibly integrating asset management, financial planning and employee benefit services to serve personal and corporate clients throughout the UK.

“The acquisitions of Maven and Ludlow Wealth Management represent meaningful progress towards our ambitious medium-term goals. We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first. The teams at Maven and Ludlow Wealth Management share our passion for delivering exceptional client outcomes and going the extra mile. Throughout our discussions with Bill Nixon at Maven and Ian Hemingway at Ludlow Wealth Management, it has been apparent that we share a desire to continue growing the enlarged group, further enhancing our client proposition and delivering sustainable shareholder returns.

“These transactions represent a complementary extension of the Group’s existing investment proposition and add to our distribution capacity, allowing us to continue developing our product offering, accelerate organic growth and realise both revenue and cost synergies. I believe we are better-positioned than ever to provide our clients with the proactive advice and bespoke investment solutions they require.”

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