Southport wealth management firm acquires two counterparts

Tue, 04 Jun 2019 | BUSINESS SALE



Ludlow Wealth Management Group, headquartered in Southport, has snapped up two counterparts in the North West as part of its “rapid progress” towards securing £2 billion worth of assets to manage.

Led by chief executive Ian Hemingway, the group has purchased A Letton Percival & Co.’s financial planning division in Liverpool, and an unnamed business from shareholders who are retiring.

A Letton Percival & Co.’s principal consultant, Neil Leaver, and two staff members, and one from the unnamed company, will join Ludlow’s team of advisers.

Mobeus Equity Partners supported the deal and began its backing for Ludlow in 2017, which now has seven offices in Blackburn, Burnley, Edinburgh, Fylde, Liverpool, Preston, and Southport.

Santander Growth Capital established Mobeus’ acquisition debt facilities in December 2018, with more bolt-ons planned over the course of the year.

The acquisition of the two new businesses will bring an additional £250 million of client assets to Ludlow.

Hemingway remarked: “Ludlow has a strong history of growth through acquisition, as well as high levels of new clients through personal recommendations. I am delighted to welcome two new sets of clients to Ludlow and look forward to working with our new colleagues to deliver on their personal and financial goals.”

He also suggested that the company would be looking to expand further in the future.

Portfolio partner at Mobeus, Justin Maltz, added: “These two acquisitions demonstrate both the market opportunity for further consolidation under larger, more professional wealth management groups and the significant potential and ambition for Ludlow in particular. We will be working hard to fulfil this.”

For more news stories about acquisitions, click here. For all our business for sale listings, click here.


Share this article



Latest Businesses for Sale

Financial Compliance & Operational Risk Consultancy
UK Wide

Circa 40 active clients, all of whom provide regular, repeat business. Strong management team. Operated from ideally situated leasehold premises. Our clients are offering the business for sale to facilitate the Managing Director’s retirement. Offers...

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

LEASEHOLD


Mixed Dental Practice
London, UK

Excellent location, leasehold option now also available. Huge potential to increase turnover and profitability through private income. Treating both NHS income and private fee-paying patients. In house capitation scheme. Established dental practice o...

Asking Price: £820,619
Turnover: £464,477

FREEHOLD


Legal Services
UK

Legal cost recovery and costs budgeting service, specialising in the recovery of legal costs and budgeting of future costs for solicitors conducting personal injury, clinical negligence, catastrophic injury and commercial litigation claims. Clients o...

Asking Price: Offers Invited
Turnover: £1,450,000


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

 
04
 
Feb
 

Broadcast publisher MBI completes MBO | MBO/MBI

The publisher of Broadcast, Media Business Insight (MBI) has...

 
23
 
Jul
 

MBO completed at software company Tharstern Ltd | MBO/MBI

A management team at Lancashire software company Tharstern L...

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