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.
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...
LEASEHOLD
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...
FREEHOLD
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...
|
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...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources