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June 21, 2022

AssetCo to takeover SVM Asset Management

AssetCo has signed an agreement to acquire the entire issued share capital of SVM Asset Management Holdings for approximately £10.7m.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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AssetCo will pay £1.7mln in cash of the total deal consideration in cash and the remainder will be paid the issue of £9m 1% fixed rate unsecured convertible loan notes in AssetCo.

Edinburgh-based SVM was founded in 1990 by Colin McLean and Margaret Lawson. The firm has around £586m of assets under management (AuM), including five open-end funds.

It also manages SVM UK Emerging Fund , a £6.8m investment trust listed on the London Stock Exchange.

AssetCo expects the acquisition to enhance its evolving Scottish, as well as the broader UK, brand and to help the firm a significant asset management hub in Edinburgh.

The deal also bolsters the firm’s Scottish board with the addition of SVM CEO Colin McLean, finance director Garry Fyfe and non-executive director Jonathan Hewitt.

The SVM funds are also said to complement the existing listed equity fund strategies offered by AssetCo’s businesses, including those offered by River and Mercantile Asset Management.

Additionally, the two companies are said to have strong distribution capabilities as well as strong organic growth.  The combination of the two is expected to result in a broader combined entity with wider product offerings.

AssetCo chairman Martin Gilbert said: “SVM is a well-regarded fund management firm, with a recognised investment style and a very strong investment track record. Its business model, people and product offering are its key assets, and it is core to AssetCo’s ambitions.”

Following completion of the deal, AssetCo will have approximately £3.5bn of AuM in listed equity fund strategies across its various businesses.

SVM managing director Colin McLean added: “When I set up SVM our aim was to leverage quality research and strong fundamentals to underpin our independent thinking and deliver great investor value. I believe that our performance over the years demonstrates that we have been able to achieve this.

“I am pleased that with the backing of AssetCo we will be able to continue to build our focus on, and relationships with, existing clients, creating greater value for them, whilst also broadening our client base and growing assets.”

This February, AssetCo struck a deal to takeover Edinburgh-based fund management business Revera Asset Management for £2.8m.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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