IMAS acted as the exclusive financial adviser to Mattioli Woods plc on its acquisition of Ludlow Wealth Management Group Limited for a maximum consideration of up to £43.5m.

Ludlow Wealth Management is one of the largest independent providers of investment, financial planning, and pension advice in the North West of England with total assets under advice of £1.6bn.  It has 61 employees, including 22 advisers operating across five offices in Southport, Fylde, Preston, Liverpool and Burnley. Ludlow Wealth Management was subject to a management buy-out led by Ian Hemingway and supported by funds managed by Mobeus Equity Partners LLP in 2017 when it had c. £850m of assets under advice.

Quoted on AIM, Mattioli Woods is a diversified specialist wealth and asset management business.  Its core proposition integrates asset management and financial planning, as well as a range of employee benefit services for medium-sized to larger corporates. The group’s broader wealth management proposition has grown from its pensions advisory and administration expertise, with a client base of over 11,000 SIPPs and SSASs throughout the UK. As at 30th November 2020, the group’s assets under management, administration and advice totalled over £10.6bn.

With a strong cultural fit and an aligned client-centric ethos, the acquisition is in line with Mattioli Woods’ strategy to grow and integrate its advice, administration, platform, asset management and specialist (innovative) products and services. It allows Mattioli Woods to gain immediate critical mass in a new region of England and realise potential revenue synergies from the distribution of Mattioli Woods’ bespoke investment products (including discretionary portfolio management), specialist pension consultancy and administration services to Ludlow Wealth Management’s client base.

IMAS was retained by Mattioli Woods from the initial offer for Ludlow Wealth Management through to the ultimate signing of the transaction agreement. Our work included specific valuation and tactics advice, as well as assisting in the detailed negotiations on the initial and final terms of the deal.