IMAS acted as the exclusive financial adviser to Gore Browne Investment Management Limited (GBIM) on its merger with Hawksmoor Group Limited (Hawksmoor), a member of the Hurst Point Group (HPG), which will acquire 100% of GBIM, subject to FCA approval.
HPG is supported by funds managed by The Carlyle Group, an American multinational private equity, alternative asset management and financial services group with $325bn of assets under management.
GBIM is an independent investment management boutique providing personal services to a variety of clients throughout the UK and overseas. With offices in Salisbury and Harrogate, it has grown to 15 investment professionals, providing bespoke, diversified, multi-asset portfolios to private clients, family trusts, charities, pension funds, companies and professional advisers.
Hawksmoor, which managed close to £1.6bn of clients’ assets at the end of 2021 from offices in Exeter, London, Taunton, Bath, Dorchester and Bury St. Edmunds, complement GBIM’s Salisbury and Harrogate offices and provides similar high quality discretionary management services for private investors (and clients of professional advisers) including trusts, pension schemes and charities, whilst also managing multi asset funds-of-funds and a series of risk-based model portfolios for financial advisers.
With a strong cultural fit and an aligned client-centric ethos, the merger creates a stronger combined group with benefits to clients. It also provides liquidity for shareholders who plan to retire in the next few years while offering equity participation to shareholders who continue to work in the group.
IMAS was retained by GBIM and was responsible for planning and managing the entire transaction process, including the initial preparations, approaches to and discussions with prospective buyers through to the ultimate closing of the transaction. Our work included a comprehensive review of the wealth management sector, specific valuation advice and assisting in the detailed negotiations on the initial and final terms of the deal.