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.
A highly regarded firm operating for over a decade. Delivers an extensive range of bespoke quantity surveying and project management services, as well as employers agent, contract administration and fund monitoring solutions.
LEASEHOLD
A reputable business successfully operating for five years with continued growth. Offers dedicated temporary and permanent recruitment services to key market sectors, including hotels, grounds maintenance and warehousing and distribution.
LEASEHOLD
Prepares bills of quantities, cost plans, estimates and tenders for construction projects in a variety of sectors including residential, commercial, industrial and education.
FREEHOLD
|
13
|
|
May
|
Shopping centre business put up for sale | BUSINESS SALE
A West Yorkshire shopping centre that sees up to 5 million c...
|
13
|
|
May
|
Assets up for sale as Scottish grain merchant falls into administration | ADMINISTRATION
East Lothian-based grain merchant Alexander Inglis & Son has...
|
12
|
|
May
|
Sassoon Academy to appoint administrators | ADMINISTRATION
Hairdressing school Sassoon Academy has revealed that it is ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
13
|
|
Jun
|
Sipp firm with a total investment value of £130m enters administration | ADMINISTRATION
GPC Sipp Limited, a firm specialising in providing technical...
|
23
|
|
May
|
Fintech company Loot collapses into administration | ADMINISTRATION
After failing to secure further backing from the Royal Bank ...
|
01
|
|
Feb
|
Historic magazine printer Headley Brothers up for sale | BUSINESS SALE
A family-owned magazine printer with 130 years’ experi...
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