Mattioli Woods to acquire two firms while fundraising £100m

Maven and LWMG Topco to be snapped up

Mattioli Woods is set to acquire Maven Capital Partners and LWMG Topco Limited, the holding company of financial advice firm Ludlow Wealth Management, and will issue approximately £100m worth of new shares in order to finance the deal.

Maven is an alternative asset manager and private equity investor with £772m of assets under management. Mattioli Woods will pay £80m upfront and a further £20m if further targets are met in the first four years.   Mattioli Woods restarts employee bonus payments after 'decisive action' during pandemic Ludlow Wealth Management, a financial planning businesses in the North West with £1.6bn assets under advisement, will recieve £30.3m in cash and £5.8m of new shares initially. Non-shareholder employees will be eligible for up to a £1m bonus based on performance after a year, but the a...