Mattioli Woods acquisition of Ludlow Wealth Management faces delays

One-month extension

Mattioli Woods’ acquisition of LWMG Topco Limited, the holding company of financial advice firm Ludlow Wealth Management, has been delayed by a month as the share purchase agreement (SPA) is extended.

In order to facilitate the completion of the acquisition, Mattioli Woods has entered into an amendment agreement to the SPA to extend the long stop date from 31 August 2021 to 30 September 2021. Mattioli Woods acquires financial planning business for up to £1.8m The extension comes following receipt of the Financial Conduct Authority's approval of the change of control of LWMG Topco Limited on 31 August, a requirement to the completion of the SPA. The acquisition was first announced on 26 May 2021, alongside the purchase of Maven Capital Partners and a £100m fundraise in order to f...