Thu, 19 Sep 2019 | MERGER
After revealing in August this year that talks were in place to complete a deal, Smith & Williamson and Tilney have agreed to merge to create one unified wealth management and professional services business.
The deal is anticipated to be completed by early 2020, subject to approval from regulatory bodies.
The combined revenue of Tilney Smith & Williamson is estimated to be £500 million, with the enlarged business valued at £1.8 billion. Furthermore, the company will have an EBITDA of £150 million, with assets worth £45 billion under management.
As part of the deal, Smith & Williamson shareholders are set to receive a consideration of £625 million through cash and in shares of the merged group.
Will Samuel will take on the position of chairman of the merged company, while Chris Woodhouse becomes chief executive. Joint chief executives of Smith & Williamson, Kevin Stopps and David Cobb, will join the board of Tilney Smith & Williamson.
Woodhouse said: “The merger of Tilney and Smith & Williamson represents a compelling combination and together we will look to build on the considerable and complementary strengths of both firms.
“Like Tilney, Smith & Williamson has an excellent reputation for looking after its clients over many years and we recognise the value its culture and expertise will bring to the combined group.”
He further stated that the deal was “transformational [and] will create a truly unique business.”
The two companies have over 40 offices across England, Wales, Scotland, and Northern Ireland.
Benefits from high staff retention rates and a wealth of experience within the sector. Member of the Association of Professional Staffing Companies (APSCo) as a result of its excellent offering. Ideally positioned to pursue further growth, which coul...
LEASEHOLD
This practice, which has been established over 80 years, is available for sale due to the impending retirement of the partners. One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers in...
FREEHOLD
This practice, which was established over 50 years ago, is available for sale. Consultancy: The partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers invited.
LEASEHOLD
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