IMAS acted as the exclusive financial adviser to Partners Wealth Management (PWM) on its sale to Seven Investment Management (7IM) with backing from Caledonia Investments.

PWM is a fast-growing, award-winning financial planning firm based in the City of London looking after over £2bn of assets on behalf of its clients. The business has enjoyed 17% compound annual growth in revenues in its last four financial years.

Established in 2002, 7IM currently has over £14bn of assets under management, offering a range of retail investment solutions, services and technology. In 2015, Caledonia Private Capital became the majority investor in the group.

The deal creates a group with combined assets under management and advice of approximately £17bn, providing a range of investment and financial planning services. As part of the deal, PWM, which is headed up by James Roberts and David Stoll, will continue to operate as an independent company from 7IM, retaining its brand, identity and leadership. However, the deal will see integration of certain back-office functions, with PWM also benefiting from 7IM’s technological capabilities.

IMAS was responsible for planning and managing the entire transaction process, including the initial preparations, the marketing of the opportunity to prospective buyers through to the ultimate closing of the transaction. Our work included specific valuation advice, the managing of a comprehensive auction process and assisting in the detailed negotiations with the bidders, including 7IM.

James Roberts, the Managing Partner of PWM, commented: “Following a successful 16 years, we felt the time was right to seek a partner who could help us continue advancing our vision to build the best client and adviser proposition in the UK. Over the past year we have had discussions with a number of potential partners, but were attracted to 7IM because of its award-winning technology, entrepreneurial culture, strong management team and shared values. We’re delighted to be working with Dean and his team to drive growth by offering clients an advice & wealth management proposition of unique completeness and quality.”

Commenting on the acquisition, Dean Proctor, the CEO of 7IM, said: “Since conducting a firm-wide strategic review last summer, our intention has been to accelerate the growth of the business, knowing that this would come both organically and inorganically. This acquisition helps both 7IM and PWM take their next steps in their respective strategic growth plans.”

“We have always believed in the value and benefits of financial planning and advice – an area which has arguably never been more in demand or more important. Within that market, James, David and their team have grown PWM to a business looking after over £2bn of assets, with an enviable reputation for quality client service. We are delighted to benefit from that experience and expertise.”