Hurst Point completes acquisition of Hawksmoor Group
Investment management firm Hawksmoor will become a separate subsidiary of Hurst Point.
Hawksmoor CEO Sarah Soar said: “Today marks a landmark in the history of Hawksmoor. Becoming part of the Hurst Point Group gives us support to grow and develop our investment and fund management business in line with our strategic objectives, as well as to improve our ability to deliver the highest quality service to our clients.”
Ian Gladman, executive chairman of Hurst Point Group added: “Hawksmoor’s investment and fund management expertise and their distinctive offerings bring a new dimension to the group, creating benefits to clients and opportunities for the future. We are already working together to deliver the future benefits of our partnership.”
Deals add 20 employed advisers and around £1.25bn in AUA
Hampshire-headquartered Harwood Wealth Management had a very proactive 2020 as it entered into five M&A deals with financial planning companies in the UK.
The businesses are Cameron Lewnes in Cornwall; Portcullis Wealth Management in Hertfordshire; Russell Marlow; Hazelwood Investment Services in Northampton; and certain business assets and clients of London-based Argentis Financial Planning, the wealth division of insurance company Arthur J Gallagher.
The latter is the largest acquisition to date for Harwood, adding 5,000 clients. The groups’ total number of financial planning customers is now over 15,000.
It was finalised in December, but no details were provided about when the other acquisitions were closed.
Hurst Group s Harwood Wealth Management confirms further acquisitions
Acquired £1.25bn in AUM
Harwood Wealth Management has said it is looking to build on its acquired £1.25bn of assets under administration after confirming more acquisitions are on the way.
The group said one further acquisition was due to be completed at the end of March, while a number of other discussions are progressing well , after securing five deals in 2020. The five acquisitions.
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Hawksmoor snapped up by private equity giant Carlyle Group
Follows acquisition of Harwood Wealth Management in March last year
Hawksmoor Investment Management is being acquired by Hurst Point Group, the portfolio company of global investment giant The Carlyle Group.
It is expected that a “number of share- and option-holders will roll over their stake in Hawksmoor into shares in Hurst Point Group”, the firms said in a statement.
Hawksmoor will become a separate subsidiary of Hurst Point Group.
The completion of the transaction is subject to Financial Conduct Authority regulatory approval and other customary conditions.
The financial terms of the deal were not disclosed.
It is the company’s second acquisition in the sector in 12 months
Hurst Point Group, the portfolio company of global investment giant The Carlyle Group, has agreed to buy Hawksmoor Group.
It is expected that a “number of share- and option-holders will roll over their stake in Hawksmoor into shares in Hurst Point Group”, the firms said in a statement.
Hawksmoor will become a separate subsidiary of Hurst Point Group.
The completion of the transaction is subject to Financial Conduct Authority (FCA) regulatory approval and other customary conditions.
The financial terms of the deal were not disclosed.
Details
Hawksmoor was founded in 2008 by John Crowley and has grown into a specialist investment and fund management business with offices in Exeter, London, Taunton, Dorchester and Bury St Edmunds.