Mattioli Woods acquires Caledonia Asset Management for £1.6m
Edinburgh-based wealth manager has £55m AUA
Ian Mattioli, chief executive of Mattioli Woods, said Caledonia is a great fit
Mattioli Woods has acquired Edinburgh-based Caledonia Asset Management in a deal worth up to £1.6m, making this its second takeover deal in under a week.
Founded in 2000, Caledonia provides wealth management services to affluent individuals and families. It works with around 150 private clients and has £55m of assets under advice.
Mattioli Woods will pay £960,000 up front for the business and a further £640,000 if performance targets are met two years after completion.
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Wealth manager buys UK advice firm for £1 6m
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Mattioli Woods acquires Caledonia Asset Management for £1 6m
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Mattioli Woods buys Pole Arnold Financial Management for initial consideration of £4m
Latest deal expands presence in Leicester and London
Mattioli Woods CEO Ian Mattioli
Mattioli Woods has acquired specialist wealth and asset management firm Pole Arnold Financial Management for an initial consideration of £4m, and a further consideration of up to £3m subject to certain profit targets being met in the two years following completion.
Pole Arnold, which was established in 2012 and specialises in fee-based financial planning, has around 360 private and corporate clients with approximately £245m of assets under management and advice. Its team of 16 staff will remain with Mattioli Woods once the deal completes.