Sanlam UK buys Tavistock Financial in £1m deal

Thu, 10 Aug 2017 | BUSINESS SALE

Cheltenham-based firm Tavistock Financial has been sold to Sanlam UK in a deal worth £1m, subject to FCA approval.

The sale by Tavistock's parent company, Tavistock Investments, which is also located in Cheltenham, includes a network of 158 financial advisers along with 25 support staff.

The AIM-listed parent has said that despite a reduction in the reported level of gross revenues, it doesn't expect there to be any material impact on the flow of funds into its centralised investment proposition or future profitability.

In the year to 31 March 2017, Tavistock Financial's estimated gross revenues would be in the region of £13.4m, with a contributed earnings before interest, tax, depreciation and amortisation, EBITDA, of £109,000.

Jonathan Polin, chief executive of Sanlam UK, said: "We are very pleased to welcome Tavistock Financial's network of high quality advisers to Sanlam.

"Earlier this year I announced the launch of Sanlam Partners, a way for adviser firms to leverage the benefits of the wider Sanlam Group while retaining control of their business.

"The initial response from advisers has been hugely positive and today's acquisition allows us to accelerate this concept, putting us in a strong position to bring on-board other adviser firms."

Subscribe to Business Sale Report here.


Share this article



Latest Businesses for Sale

Provider of Fabrication Services
North East, UK

Provides a range of fabrication services, manufacturing specialist components for a diverse client base. Each process is overseen by the business, including design, project management and installation. Offered for sale to facilitate growth under the...

Asking Price: Offers Invited
Turnover: £3,100,000

LEASEHOLD


Refrigeration Solutions Company (Fast Sale)
North of England, UK Wide

Indicative offers are required by close of business Friday 3rd April. The Business is able to produce cost effective robust solutions to companies predominately within the food and drink industry. Established refrigeration solution business. Strong y...

Asking Price: Offers Invited
Turnover: £300k - £1m

Educational Workshop Machinery Design, Supply & Installation
UK Wide

The business is a very well-established supplier to into the Education Sector, with additional links to The Prison Service, Hospitals, Theatres and Care Homes, all providing excellent opportunities for growth. Offers invited.

Asking Price: Offers Invited
Turnover: £1,600,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
27
 
Mar
 

Addison Lee acquired by consortium of investors | BUSINESS SALE

Addison Lee Group, London’s biggest private care hire ...

 
26
 
Mar
 

Leicestershire building products firm enters administration | ADMINISTRATION

Leicestershire-based System Building Products Limited has en...

 
25
 
Mar
 

Kaupthing plans sale of Oasis and Warehouse | BUSINESS SALE

Icelandic-owned UK women’s fashion retailers Oasis and...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
17
 
Apr
 

Financial planning firm acquired by global counterpart | BUSINESS SALE

An independent financial advisory from Newcastle has been sn...

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