Deals



Brooks McDonald Group Plc Acquisition of Spearpoint and Placing


Posted: 16th November 2012 10:20

Brooks Macdonald Group plc ("Brooks Macdonald", "the Group" or "the Company"), the AIM listed integrated wealth management group, today announces the acquisition of Spearpoint (Spearpoint Limited and Spearpoint Retirement Services Limited), a Jersey and Guernsey based provider of discretionary fund management with stock broking and retirement planning capabilities. It is expected that the Acquisition will complete on 19 November 2012.
 
Acquisition of Spearpoint  
  Terms of Acquisition and Consideration Structure
  Placing
   
Financial Highlights
   
Chris Macdonald, Chief Executive of Brooks Macdonald Group commented:
 
"The acquisition of Spearpoint is a major step forward for the Group and captures an opportunity we have been seeking for a number of years.  It adds scale, offshore and international capability together with the acquisition of a strong investment management and pensions team.
 
"We look forward to welcoming Spearpoint's clients and staff to Brooks Macdonald. There is a good synergistic and cultural fit with our existing growth strategy and business.
 
"We are confident that the Combined Group will be a leading presence in UK wealth management and that the acquisition will be immediately earnings enhancing."  
 
John Davey, Chief Executive of Spearpoint said:
"We are delighted to be joining the Brooks Macdonald Group. There is a strong fit in terms of investment management style and culture.
"Brooks Macdonald's proven marketing and distribution and well established brand provide us with the tools to focus on growth.
"Everyone at Spearpoint is very excited about the opportunities that becoming part of Brooks Macdonald present." 

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