Wealth manager Mattioli Woods has received a £432m cash offer from Tiger Bidco, a subsidiary of Pollen Street Capital.
The offer comes at a 34% premium to share price, and has been recommended to shareholders by the Mattioli Woods board.
If the deal receives shareholder approval, it will see the wealth manager transitioning to private ownership.
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Bidco intends to implement the transition through a scheme of arrangement, which it expects to become effective in either the second or third quarter of 2024.
Ian Mattioli, Mattioli Woods CEO, said: “Since our admission to Aim in 2005, we have seen significant expansion in both the size and nature of our business, integrating asset management, financial planning and employee benefit services to serve personal and corporate clients throughout the UK.
“We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first. The team at Pollen Street share our passion for delivering exceptional client outcomes and have demonstrated their ability to partner with entrepreneurial financial services business.
“I believe that with Pollen Street’s support and access to capital we can accelerate the delivery of our strategy and provide our clients with the proactive advice and bespoke investment solutions they require.”
