Saltus will acquire the Altrincham-based wealth manager for an undisclosed sum and run the combined entity under the Saltus name.
Mercater is lined up to become Saltus’ north-west hub. It currently runs funds of £65m but this is set to “increase dramatically” after the acquisition.
Simon Armstrong, managing partner at Saltus, said: “This is a win-win deal for everyone.
“The combined business will benefit from additional resources and complementary expertise while clients and professional introducers can access our multi-asset approach, working within risk budgets and investing in a global pool of ‘best of breed’ specialist managers.”
James Lang, chairman of Mercater, who will become chairman of the combined private client business, added: “We have been approached by several companies keen to acquire us but none of them felt right culturally.
“When Saltus approached us, we knew the fit was right as we share the same philosophy of putting the client first.”
Earlier this year, Saltus bought Midlands-based independent discretionary fund manager Montague Capital.
