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July 1, 2021

Mattioli Woods completes acquisition of Maven Capital Partners

By Patrick Brusnahan

Specialist wealth and asset management firm Mattioli Woods has completed its deal to acquire Maven Capital Partners.

Thanks to the terms of the deal, Mattioli Woods has allotted 4,545,455 new Ordinary Shares in Mattioli Woods to the sellers of Maven.

Ian Mattioli MBE, Chief Executive Officer of Mattioli Woods, said: “We are delighted to complete the acquisition of Maven which marks a significant milestone in Mattioli Woods’ journey. The acquisition of Maven enhances our investment proposition and product range and adds opportunities to widen distribution of the enlarged Group’s products and services.

“The team at Maven share our passion for delivering exceptional client outcomes and going the extra mile, and we look forward to welcoming them into the Mattioli Woods group.”

Announced in May, Mattioli Woods signed binding agreements to acquire Maven Capital Partners and Ludlow Wealth Management Group.

Maven Capital Partners is a private equity and alternative asset manager in the UK, while Ludlow Wealth Management Group is a financial planning and pension advice firm.

The British wealth manager is buying Maven for approximately £100m, comprising £80m up front payment and £20m on meeting performance targets in the four years after completion.

Ludlow will be acquired in a deal worth around £43.5m, which includes up front payment of £36.1m and an additional £6.4m in cash and up to £1m in bonuses based on performance.

According to Mattioli Woods, the acquisitions will expand its direct and intermediated distribution channels for new and existing products and services and advance its organic growth potential.

Maven offers investment opportunities in VCTs, private equity, and property. The owner-led business has 12 partners and a regional team of over 90 investment executives and support professionals.

It owns 10 offices in Glasgow, Edinburgh, Manchester, Birmingham, London, Newcastle, Bristol, Nottingham, Durham and Reading.

Ludlow Wealth Management specialises in investment, financial planning and pension advice.

The firm has 61 employees, including 22 advisers working across five office locations in Fylde, Preston, Burnley, Liverpool and Southport.

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