Brooks Macdonald Acquires Spearpoint in the Channel Islands

November 19, 2012

On November 16, 2012, Brooks Macdonald Group plc announced that it had acquired Spearpoint, a Channel Islands-based wealth management business, for approximately £23.1 million in cash and equity, plus deferred consideration payable in cash in November 2014. 

On November 16, 2012, Brooks Macdonald Group plc, an integrated wealth management group, announced that it had acquired Spearpoint Limited and Spearpoint Retirement Services Limited, a Channel Islands-based wealth management business, for approximately £23.1 million in cash and equity, plus deferred consideration payable in cash in November 2014.  The deferred consideration is tied to the value of Spearpoint’s discretionary funds under management; based on Brooks Macdonald’s growth projections, it expects to pay approximately £5 million in deferred consideration.  Brooks Macdonald plans to raise £21.5 million of the initial purchase price by placing 1,869,566 New Ordinary Shares, priced at £1.15 per share.  Spearpoint provides discretionary fund management, stock brokering, and retirement planning services, and has approximately £1 billion of assets under management. 

To read the press release, please click here.


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Investment Manager M&A, Transactions