Mattioli Woods is set to make its “largest acquisitions to date” with the deals to buy private equity firm Maven Capital Partners and financial planning business Ludlow Wealth Management in deals worth more than £143m.
The deal with Maven will see Mattioli Woods pay £100m, comprising £80m up front and a further £20m on meeting performance targets in the four years after completion.
The Ludlow Wealth Management deal will see Mattioli Woods pay £43.5m, comprising £36.1m up front and a further £6.4m in cash and up to £1m in bonuses based on performance.
Ian Mattioli said: “The acquisitions of Maven and Ludlow Wealth Management represent meaningful progress towards our ambitious medium-term goals. We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first”.
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