Mattioli Woods to raise £18m warchest for acquisitions

Mattioli Woods is to acquire advice firm Boyd Coughlan in a £7m deal and has also announced plans to raise a more than £18m from shareholders to fund further growth.

Boyd Coughlan, based in Buckingham, provides advice to both corporate and personal clients and has more than £160m of assets under advice.  Its management team will join Mattioli Woods following the acquisition, which is expected to be earnings enhancing in the first full year of ownership.  The wealth manager and pension specialist also plans to raise £18.6m through a firm placing of 2 million shares and a conditional placing of 1.8m shares at 490p each. Mattioli Woods said £3.8m of this amount will go towards the Boyd Coughlan deal, with a further £5.8m set aside for the acquisit...