Share price soars at Mattioli Woods as huge takeover deal revealed

The share price at Leicester-based wealth management firm Mattioli Woods has soared this morning on the back of a proposed £432m deal.

Investors were backing Mattioli Woods heavily as the markets opening on Friday, with shares rising to 790p each – up by almost a third to levels not seen since March 2022.

The offer, from Pollen Street Capital, would see the firm taken private for the first time since it was admitted to AIM in 2005.

The deal will see Leicester-based Mattioli Woods investors receive 804p for each share they hold.

The firm’s directors have recommended that shareholders vote through the deal at a general meeting.

Pollen Street has launched the takeover bid using a company called Tiger Bidco.

Ian Mattioli MBE, the CEO of Mattioli Woods, said: “Since our admission to AIM in 2005, we have seen significant expansion in both the size and nature of our business, integrating asset management, financial planning and employee benefit services to serve personal and corporate clients throughout the UK.

“We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first. The team at Pollen Street Capital share our passion for delivering exceptional client outcomes and have demonstrated their ability to partner with entrepreneurial financial services business.

“I believe that with Pollen Street Capital’s support and access to capital we can accelerate the delivery of our strategy and provide our clients with the proactive advice and bespoke investment solutions they require.”