Mattioli Woods completes Ludlow acquisition after short delay

Mattioli Woods has completed the acquisition of Ludlow Wealth Management, subject to regulatory approval, after extending the long stop date of the share price agreement by a month on 1 September.

The firm's acquisition of LWMG Topco, the holding company of financial advice firm Ludlow Wealth Management, was delayed by up to a month after the share purchase agreement (SPA) was extended last week. In order to facilitate the completion of the acquisition, Mattioli Woods entered into an amendment agreement to the share price agreement to extend the long stop date from 31 August 2021 to 30 September 2021. The extension followed 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 ...