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.
Exceptional Private Client Wealth Management Firm with an Average client size of over £600,000, Housing c.£80m FUM with more than 80% of Clients in Central and Greater London. Offers invited.
Successful business operating for over 170 years.Provides a comprehensive range of specialist legal services including probate and estate administration, as well as community care, residential conveyancing and commercial property solutions. Offers in...
LEASEHOLD
This is a well-established two Partner Solicitors’ Practice based in the RG postcode area of Berkshire. This Practice would be ideal for one or two individuals who are looking to start up their own first practice. We believe this Practice would also...
|
18
|
|
Sep
|
Crane hire business acquired in seven-figure deal | BUSINESS SALE
Liverpool-headquartered A Mini Crane Hire has been acquired ...
|
17
|
|
Sep
|
Scottish accountancy firm expands with two new acquisitions | BUSINESS SALE
Scottish accountancy firm Goldwells has expanded with the ac...
|
16
|
|
Sep
|
Plymouth window manufacturer rescued in buy-out | BUSINESS SALE
A Plymouth window manufacturing business that formed part of...
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