The acquired entity will be integrated into Oberon’s wealth management division. Credit: ete Linforth from Pixabay.

Wealth management firm Oberon Investments has acquired the entire issued share capital of London-based Smythe House.

Oberon will pay an initial consideration of £217,000 in cash and issue the vendors 2,454,710 new ordinary shares for the purchase.

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The agreement also includes a possible future instalment of a maximum 4.9 million shares and £33,000 in cash, depending on the performance of the acquired entity.

Founded in 2009, Smythe House offers relationship-driven services and financial planning to HNW clients in the wealth management, capital markets and real estate segments.

Following the transaction, the firm will be integrated into Oberon’s wealth management division.

It will add approximately £40m in AUA to the company, while also expanding its client base.

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Smythe House is said to complement Oberon’s client-focused businesses. The deal is expected to further expand Oberon’s reach into the personalised wealth management sector.

Oberon is planning to offer Smythe House’s services to its existing client base in the future.

Oberon Investments Group CEO Simon McGivern said: “Smythe House, with whom we share the same ethos of client service, illustrates the strategic approach to acquisitions we are taking.

“Their portfolio of services will be rolled out over time to Oberon’s existing client base. We continue to evaluate further acquisition opportunities as Oberon’s AUA and platform continue to rapidly develop and grow.”

This February, Oberon Investments was listed on the Aquis Stock Exchange via a reverse take-over.

Earlier this month, Swiss financial service company VZ Group acquired a stake in London-based advisory firm Lumin Wealth, making its entry into the UK market.