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.
Due to significantly exceed its pre-pandemic levels of business. The company specialises in the development of a range of revision and training aids for a wide variety of platforms.
LEASEHOLD
Achieved turnover of £1.6 million. Renowned for providing expert services for high-profile, high value incidents for clients, including significant international catastrophes.
RELOCATABLE
Renowned as a trusted and efficient provider of professional debt collection services, along with a range of complementary legal and financial solutions. The company holds a licence with the FCA and is a member of the CSA, and achieves high success r...
LEASEHOLD
|
24
|
|
Feb
|
Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE
Nestlé has strengthened its position in the e-commerc...
|
23
|
|
Feb
|
Lockdown exit: What does the road map look like for UK businesses? | BUSINESS NEWS
After a winter spent almost entirely in lockdown, the govern...
|
22
|
|
Feb
|
Modular Group acquires Euramax Solutions with BFS backing | BUSINESS SALE
Modular Group Investments has acquired Barnsley-based window...
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