Tue, 21 Dec 2021 | BUSINESS NEWS
UK wealth and asset management company Mattioli Woods has announced that it will continue to target bolt-on acquisitions in 2022, after reporting a strong year of both organic and acquisitive growth. The announcement came in a trading update covering the six months to November 30 2021.
In the update, the firm reported that net inflows into its investment and asset management services and its number of new clients in the financial year to date exceeded the previous year, which it said reflected the strength of its new business initiatives and client referrals.
Mattioli Woods added that this strong performance had helped to generate a growing pipeline of new enquiries, as well as organic revenue growth of more than 10 per cent over the reporting period.
The company also reported success in its acquisition strategy, with recent takeovers “performing and integrating well”. It said that its recent acquisitions of Maven Capital Partners and Ludlow Wealth Management were already starting to realise their anticipated revenue and cost synergies, with both trading ahead of budget in the year so far.
Mattioli Woods said that it would seek to build on this solid acquisitive growth over the coming year and forecast that there would be a wealth of new opportunities, both in terms of bolt-on deals and “more substantial” M&A deals in the longer term.
The company said: “We anticipate further consolidation within the wealth management, pensions administration and financial planning sectors, with many more opportunities coming to market. The Group expects to build upon its strong track record of successful acquisitions by continuing to assess and progress bolt-on opportunities in the nearer term as well as potentially more substantial opportunities in the longer term, with all required to meet its strict investment criteria.”
Read more about the popularity of bolt-on acquisitions in the post-COVID market.
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