On May 2, 2018, Gresham House announced that it will acquire FIM Services.
Gresham House plc (“Gresham House”) will acquire the entire issued share capital of FIM Services Ltd. (“FIM”) for up to £25 million on a cash-free, debt-free basis. Gresham House will pay £11 million in cash and £9.8 million in loan notes as initial consideration and another £4 million upon satisfaction of certain performance targets. Gresham House will raise £15 million by share placements. Further terms were not disclosed.
Gresham House, based in London, is an alternative asset manager that focuses on strategic public equity, private equity, timber, renewable energy, housing, and infrastructure. Gresham has over £600 million in assets under management.
FIM, founded in 1979 and based in Great Barrington, is an alternative investment fund manager that specializes in forestry, renewable energy, and sustainable real asset investments. FIM has £893 million in asset under management as at December 31, 2017.
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