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.
This RIBA Chartered Practice offers comprehensive architectural services across all RIBA work stages, boasting strong ties with local authorities for streamlined planning and regulatory advice. With a loyal client base, including blue-chip organisati...
This M&E engineering consultancy stands out with its proprietary technology, offering streamlined operations and impressive profit margins through automation. The company has established strong, long-term relationships with clients, ensuring consiste...
This is an exciting opportunity to acquire a highly-regarded independent financial advisory business in Hertfordshire, managing a substantial £115 million in funds under management.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.