The agreement offers Mattioli Woods a two-year window from 2019 when it has the opportunity to buy the remaining 51% of shares; if Mattioli doesn’t buy the remaining stake Amati can buy the 49% holding back.
The deal is the latest acquisition in the firm’s continued attempts to expand its operation following the take-over of pensions company MC Trustees in September last year.
It comes just one month after Mattioli Wood’s latest trading update revealed profits soared 20% in the second half of 2016, and the firm reported total client assets of £7.5bn.
Chief executive of the firm, Ian Mattioli, said the deal was an “exciting extension” to its asset management business.
“Our investment in Amati represents an exciting extension to our existing asset management business and is another important step forward for Mattioli Woods as we continue to expand our operations.
“Amati is a great fit culturally and strategically. There are few specialist UK fund managers with such a long and stable heritage, utilising the combined experience of an investment team with over 50 years’ knowledge of UK smaller companies.
“The team’s performance has been recognised in a number of awards and ratings.”
