TLT has advised the owners of leading financial planning firm Partners Wealth Management (PWM) on its acquisition by Seven Investment Management (7IM). The acquisition will provide a boost for both firms’ respective strategic growth plans.
PWM, an award winning London-based firm, was founded in 2004 and looks after over £2bn of assets on behalf of its clients. PWM’s acquisition by 7IM creates a group with combined assets under management of approximately £17bn and brings the group's staff count to over 400 people.
TLT advised PWM’s equity partners, including senior partner David Stoll and managing partner James Roberts on the transaction, which will see the firm continue to operate independently under the same brand and leadership. The complex nature of the deal, which involved 7IM becoming the Corporate Partner in the regulated firm, required expertise from across TLT’s corporate, banking and regulatory teams.
TLT partner and head of Corporate, Andrew Webber, led the team with support from associate Grant Edwards, partner Andrew Jennings and banking associate Samuel Hill. Partner Noline Matemera provided regulatory advice on the deal, which required FCA approval to proceed.
Andrew Webber, partner and head of Corporate at TLT says:
“We are so pleased to have supported David, James and their team with this major transaction for their hugely successful firm. Despite some uncertainty around Brexit and the challenges of the pandemic restrictions, this is another deal which shows that many businesses continue to perform strongly under experienced management and that investment is available to firms that demonstrate sustainable strategy and vision.
“More generally, we are seeing sustained M&A activity as investors look to deploy capital and owner-managed businesses look to realise their growth and succession plans.”
David Stoll, managing partner at Partners Wealth Management says:
“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. We were attracted to 7IM because of its award winning technology, entrepreneurial culture, strong management team and shared values and are delighted to be working with them to drive growth.
“We are grateful to the TLT team for the diligence and expertise demonstrated throughout this process. Their knowledge and understanding of our business and sector plus their expertise in executing complex transactions smoothly as a whole was a real asset in getting this transaction across the line.”