Mattioli Woods plc subsidiary Ludlow Wealth Management Group Limited has acquired Opus Wealth Management Limited for an initial consideration of £0.71m($0.88m, €0.82m).
With a potential further consideration of up to £0.71m dependent on the attainment of specified performance targets in the year after completion.
Blackpool-based Opus provides financial planning and wealth management services to private client families with approximately £53m of assets under advice.
Michael Wright, deputy chief executive of Mattioli Woods, said: “We’re delighted to welcome Opus Wealth Management to the Mattioli Woods Group, as part of the Ludlow business.
“We’ve highlighted we have a strong pipeline of bolt-on acquisition opportunities that can help us accelerate and complement our organic growth. This transaction marks another step towards our strategic goals.”
Ian Hemingway, chief executive of Ludlow, added: “I expect our familiarity with the Opus team and our shared approach to looking after clients to facilitate a smooth integration over the next few months.
“This acquisition further strengthens our operations in the North West as we look to build upon our existing presence in the area.”