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Walker Morris advises Mattioli Woods on £110 million fundraising and proposed acquisitions of Maven Capital Partners and Ludlow Wealth Management

Walker Morris M&A and ECM teams advise Mattioli Woods on major transactions

Walker Morris has advised Mattioli Woods plc (AIM: MTW.L), the specialist wealth and asset management business listed on the AIM market of the London Stock Exchange, on two proposed acquisitions together with an equity fundraising to raise gross proceeds of approximately £110 million.

Mattioli Woods is proposing to acquire Maven Capital Partners, a leading private equity investor in UK SMEs and alternative asset manager, for a total consideration of up to £100 million, and Ludlow Wealth Management, a leading financial planning business in the North West of England, for a total consideration and other deferred payments of up to £43.5 million.

Mattioli Woods is proposing to fund the acquisitions through an equity fundraising to raise gross proceeds of approximately £110 million by way of a placing of new shares and retail offer through PrimaryBid.

The Walker Morris team was led by M&A/ECM partners, John Hamer and Daniel O’Gorman, regulatory partner, Andrew Northage and tax director, Nicola Parkinson, Thomas Mieszkowski, Laura Cavell and Michael O’Halloran. Joint brokers for the fundraising were Canaccord Genuity and N+1 Singer advised by Travers Smith with corporate advisory support to Mattioli Woods provided by IMAS Corporate Finance.

Ian Mattioli MBE, Chief Executive Officer of Mattioli Woods, said:

“These acquisitions mark significant milestones in Mattioli Woods’ journey.  Since our admission to AIM in 2005 we have seen significant expansion in both the size and nature of our business, responsibly integrating asset management, financial planning and employee benefit services to serve personal and corporate clients throughout the UK.

“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.  The teams at Maven and Ludlow Wealth Management share our passion for delivering exceptional client outcomes and going the extra mile.  Throughout our discussions with Bill Nixon at Maven and Ian Hemingway at Ludlow Wealth Management, it has been apparent that we share a desire to continue growing the enlarged Group, further enhancing our client proposition and delivering sustainable shareholder returns.

“These transactions represent a complementary extension of the Group’s existing investment proposition and add to our distribution capacity, allowing us to continue developing our product offering, accelerate organic growth and realise both revenue and cost synergies.  I believe we are better-positioned than ever to provide our clients with the proactive advice and bespoke investment solutions they require.”

Commenting on the deal John Hamer, Head of Corporate at Walker Morris, said:

“Mattioli Woods is a longstanding and valued client of the firm and so we’ve been delighted to work with them on these transformational deals. These transactions further demonstrate Walker Morris’s expertise and track record in delivering complex equity capital markets and M&A transactions.”

“We are seeing continued high levels of activity in equity capital markets and M&A across a wide range of sectors and the financial services in particular.”

Full release available here.