Pollen Street Capital to buy Mattioli Woods in £432m take-private deal

34% premium to closing price

Valeria Martinez
clock • 2 min read

Private equity house Pollen Street Capital is set to acquire Mattioli Woods in a take-private deal that values the wealth manager at £432m.

The Mattioli Woods board said this morning that they had agreed to a cash offer from Tiger Bidco, a wholly-owned vehicle advised and managed by Pollen Street, and would now unanimously recommend the deal to shareholders. The proposed offer of 804p per share marks a 34% premium on the AIM-listed firm's closing share price of 600p per share on Thursday (7 March). According to Morningstar Direct, the wealth manager's share price has jumped 31% so far today in response to the news. Mattioli Woods Group currently holds over £15bn in assets under management, administration and advice, for a...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Tavistock Investments acquires £3bn asset manager Alpha Beta Partners

Tavistock Investments acquires £3bn asset manager Alpha Beta Partners

'Complementary' to business positioning

Linus Uhlig
clock 22 November 2024 • 2 min read
Hargreaves Lansdown's Derren Nathan: Companies best placed to absorb NI cost pressures

Hargreaves Lansdown's Derren Nathan: Companies best placed to absorb NI cost pressures

Following Rachel Reeves' Budget

Derren Nathan
clock 21 November 2024 • 4 min read
Liontrust profits sink by a further 28% as AUM continues to decline

Liontrust profits sink by a further 28% as AUM continues to decline

Job cuts of around 25 staff

Linus Uhlig
clock 21 November 2024 • 3 min read
Trustpilot