Wolverhampton financial advisory firm sells up to investment manager
A Wolverhampton financial advisory firm has been acquired by a Guernsey-based investment manager in a deal advised out of the West Midlands.
Central Investment Planning (CIP) has been purchased by MitonOptimal, an independent multi-asset investment manager with a global network, for an undisclosed sum.
Thursfields Solicitors advised the CIP owners on the deal.
CIP was founded by Sandy Baker and Fiona McCaig in 1988 and had grown to advise on approximately £100m of client assets. The acquisition brings the total currently managed by MitonOptimal to £800m.
MitonOptimal focuses on the delivery of discretionary fund management and client portfolio management services to intermediary and private clients.
The firm has been on an acquisition trail and CIP is the third significant acquisition for the group in the last few years following its acquisition of multi-asset investment house Coram in 2016 and private client manager Minerva in 2017.
CIP’s Sandy Baker and Fiona McCaig have joined MitonOptimal as directors, and CIP has been renamed MitonOptimal Portfolio Management (UK).
Fiona McCaig said: “With increased regulation for boutique investment businesses, MitonOptimal was a logical choice to partner for the future.
“We wish to focus on delivering superior client service and can leverage off the significant investment management experience, processes and resource that MitonOptimal has at its disposal. The deal puts in place a long term secure investment solution for our clients.”
The Thursfields team was led by corporate director Gareth Burge, assisted by Joe Rollins, corporate trainee solicitor and Lisa Kemp, employment associate solicitor.
The Guernsey office of Carey Olson advised MitonOptimal.
Mr Burge said: “Thursfields has an established track record of advising on mergers and acquisitions in the FCA regulated business sector.
“This transaction comes at a busy time for Thursfields’ M&A team and we are delighted to have advised Fiona and Sandy on the sale of CIP to MitonOptimal in a deal that works well for both parties.”
