Mattioli Woods acquires Caledonia Asset Management for £1.6m

Edinburgh-based wealth manager has £55m AUA

Mattioli Woods has acquired Edinburgh-based Caledonia Asset Management in a deal worth up to £1.6m, making this its second takeover deal in under a week.

Founded in 2000, Caledonia provides wealth management services to affluent individuals and families. It works with around 150 private clients and has £55m of assets under advice. Mattioli Woods will pay £960,000 up front for the business and a further £640,000 if performance targets are met two years after completion. Mattioli Woods restarts employee bonus payments after 'decisive action' during pandemic Ian Mattioli, chief executive of Mattioli Woods, said: "Caledonia is a great fit for us both culturally and operationally, serving a similar client base to that of our existing bus...