Interactive Investor sells ATS businesses

Tue, 29 Oct 2019 | BUSINESS SALE



Retail investment platform Interactive Investor (II) has announced the sale of the advisory and partnerships businesses of Dundee-based Alliance Trust Savings to the Embark Group.

The deal, for an undisclosed amount, includes the transfer of all ATS staff and buildings, ensuring the retention of high-skilled jobs in Dundee. The ATS buildings will also now become Embark’s corporate headquarters.

The sale also sees II sell off the advised assets it inherited when it acquired ATS from Alliance Trust, a deal which was completed in June of this year.

Interactive Investor Chief Executive Richard Wilson commented that the deal “is a good result for all concerned”, describing Embark as “the right partner to take the advisory and partnership business forward, with Dundee remaining an important platform and employment centre.”

Wilson added, “The ATS jobs have been protected which was a key consideration and I have no doubt they will take the business from strength to strength.”

Meanwhile, Embark Group chief executive Phil Smith said: “This acquisition presents a perfect opportunity to accelerate our growth strategy by acquiring a book of platform assets with high SIPP penetration, as well as complementary distribution relationships.”

Scottish Business Minister Jamie Hepburn said of the deal: “Embark’s plans to retain the site in Dundee is good news for employees and for the economy of the city,” adding that the “Scottish Government, Scottish Enterprise and Scottish Development International have been working closely with the company and will continue to provide support going forward.”

The divestment enables Interactive Investor to continue to focus on the UK’s direct-to-consumer (D2C) market, having completed the migration of ATS’ D2C customers to its own platform earlier this month.


Share this article



Latest Businesses for Sale

Butchers
Dagenham, Essex, South East, UK

The business sells a great selection of meats, cooked meats, a range of seasoned sausages and burgers all prepared in-house. Revenue is derived from the sale of quality fresh produce, supplied from reputable sources. The business sees a lot of repeat...

Asking Price: Offers Invited
Turnover: £852,000

LEASEHOLD


Furniture Retailer
County Durham, UK Wide

The business offers a wide range of quality furniture made from materials such as solid oak, solid pine, Indian hardwood, reclaimed wood, veneers, foils and more. A wide variety of different products are displayed in a traditional and contemporary st...

Asking Price: Offers Invited
Turnover: £550,000

LEASEHOLD


Butchers With Modern Bakehouse
Kirkcaldy, Fife, Scotland, UK

Fantastic opportunity to acquire, on a freehold basis, this long standing and well respected traditional local butchers. Thomson of Thornton has been family owned for over 50 years and has built an excellent local reputation for quality and service a...

Asking Price: £600,000
Turnover: £600,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources