Tavistock Investments profits climb as number of advisers reaches 400
Revenue rose 19% to £20.6m
Revenue rose 19% to £20.6m
Firm admits it is currently engaged in discussions with several M&A targets
A year after rebuffing an unsolicited £15.2m takeover bid
It acquired 21% of parent company LEBC Holdings at the start of the year
Almost 18 months after the advice firm’s founder and CEO died
Turnaround in advisory business performance after completion of reorganisation project
As buyer prepares to roll out centralised investment proposition to IFAs
‘The deal could be the start of another wave consolidation in the DFM space’
‘The board does not consider that a paper-only offer made using illiquid shares … is credible or warrants further consideration’
Would-be acquirer believes shareholders ‘deserve the opportunity to decide on the merits of any offer’
Several victims already approached the company with claims after losing £4.5m
Deal sees Lighthouse become the third largest shareholder in Tavistock