Thu, 17 Feb 2011 | MBO/MBI
Brewin Dolphin has sold its investment banking division in a management buy-out deal in order for it to focus on becoming a pure investment manager.
The business is being bought by N+1, a European asset management company located in Spain, in a deal worth £5 million.
The deal includes a 14 per cent holding in the new venture, which is valued at £4 million, and £1 million in cash. A total of 65 staff will be transferred as part of the deal. The new group is to be called N+1 Brewin.
Still subject to regulatory approval from the Financial Services Authority, it is expected the deal will be finalised in September.
N+1 Brewin is to be headed by Graeme Summers, who managed the divested investment banking division, after having joined Brewin Dolphin in 1990.
“It’s exciting times for the team. Brewin Dolphin has been a very good home for us for the past 20 years. There’s been a natural parting of ways, moving of the businesses in different directions,” Summers said.
“We’ll be moving towards a partnership with a highly successful international partner that has very complementary skill sets to what from the outset we were trying to achieve in this process.”
The company is a specialist provider of a uniquely diverse and comprehensive range of fit out, refurbishment, and construction services, offering electrical, passive fire protection, social housing refurbishment, and PAS 2030 works across various Gov...
Renowned in the city for providing high-quality American influenced cuisine, best-in-class cocktails and a trendy atmosphere, this well-appointed site operates over two floors and attracts heavy regular local footfall as well as a vast number of tour...
Established in 1980, this long-standing electric motor repair business is available for acquisition. With a successful trading history spanning over 40 years under the current proprietorship, the business has become synonymous with excellence in elec...
07
|
May
|
UK administrations update: April 30 – May 7 | ADMINISTRATION
Since our last update, the following businesses have been co...
07
|
May
|
Plant and vehicle hire group acquired out of administration | BUSINESS SALE
A Leicestershire-based supplier of specialist plant and vehi...
06
|
May
|
Tekmar Group disposes of subsea company for £1.9m | DIVISION SALE
Tekmar Group, a Darlington-based supplier of technology and ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.