Leicester-headquartered Mattioli Woods has bought private client and asset management business Hurley Partners in a deal worth up to £25.6m ($33.3m, €29.3m).
Founded in 2013, Hurley Partners is a wealth management firm providing financial advice to over 300 client family groups and has three offices in London, Surrey and Manchester.
Hurley Partners’ management team will be retained by Mattioli Woods following the acquisition.
The deal is subject to regulatory approval and completion is expected to take place in the second quarter of 2020.
Market continuing to consolidate
Ian Mattioli, chief executive of Mattioli Woods said: “This acquisition of Hurley Partners is an important step for Mattioli Woods as we continue to expand our operations and reach.
“Hurley Partners […] will enhance our existing specialist pension and discretionary management propositions. I believe this transaction will strengthen our position in a market that is continuing to consolidate.”
Most recently, Mattioli Woods acquired Glasgow-based financial planning firm The Turris Partnership in a deal worth up to £1.6m in December 2019.