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 Home Care
Yorkshire and the Humber, UK

Offers a variety of services including domestic assistance, medication administration, companionship and palliative care, as part of a 24/7 service. Care Quality Commission with a rating of ‘Good’ in all domains. Contractually provides its services t...

Asking Price: Offers Invited
Turnover: £1,300,000

LEASEHOLD


Fast Food Chain Restaurant
UK Wide

Currently operates from a number of restaurants, all of which are situated in prominent trading locations and benefit from high levels of footfall. Long-standing brand with a multitude of excellent reviews online. All dishes are prepared in store by...

Asking Price: Offers Invited
Turnover: £6,100,000

FREEHOLD


Landscaping & Maintenance Services
Midlands, UK Wide

Specialises in commercial landscaping, maintenance, restoration and ecology services. Has won multiple awards throughout its time in operation. Embraces works of all sizes and complexities, undertaking a diverse range of projects and working to ensur...

Asking Price: Offers Invited
Turnover: £602,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
09
 
Dec
 

Scunthorpe construction group call in administrators | ADMINISTRATION

Scunthorpe-based Clugston Group and Clugston Construction ha...

 
06
 
Dec
 

KPMG agrees to sell pensions arm | DIVISION SALE

Professional services network KPMG has announced that it has...

 
05
 
Dec
 

What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS

Private business mergers and acquisitions expert Sue Green o...

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