Walker Morris advises UK Wealth Management on £14 million acquisition by Ashcourt RowanPrint news article
Corporate lawyers at Walker Morris have advised the management team of Yorkshire-based UK Wealth Management on its acquisition by Ashcourt Rowan.
Ashcourt Rowan has agreed to pay £14.25 million in cash for the wealth management specialist, which will be funded through a placing of shares by Ashcourt Rowan.
The acquisition, which is subject to approval by the FCA, will add £1.3bn in assets to the AIM-listed group.
John Hamer who led the Walker Morris team said:
“Having worked with the management team at UK Wealth Management back in 2010 when Duke Street invested, we’re pleased to have been able to advise them on this exit. The Ashcourt Rowan and UKWM businesses are a good fit and we wish the enlarged group the best of luck for the future.”
Jonathan Polin, Group chief executive of Ashcourt Rowan said:
“This is a transformative deal for Ashcourt Rowan and an important step on our journey to become a leading UK wealth manager.
“UKWM’s business is complementary in terms of culture, outlook, client base and office footprint, adding locations in the North of England where Ashcourt Rowan was previously under-represented.”
John Hamer led the team which included Andrew Rayment from employment.
The Walker Morris corporate group recently advised InTechnology PLC on the sale of its subsidiary InTechnology Managed Services Limited to Redcentric plc for £65 million.