“We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first. The team at Pollen Street Capital share our passion for delivering exceptional client outcomes and have demonstrated their ability to partner with entrepreneurial financial services business.
“I believe that with Pollen Street Capital’s support and access to capital we can accelerate the delivery of our strategy and provide our clients with the proactive advice and bespoke investment solutions they require.
Lindsey McMurray, managing partner of Pollen Street Capital said: “We are pleased to have reached agreement with the Mattioli Woods Board on the terms of Bidco’s offer to Mattioli Woods Shareholders.
“We believe Mattioli Woods would benefit from a transition to private ownership, which would enable Mattioli Woods to accelerate its growth strategy and to capitalise on the market opportunity in UK wealth management.
“Pollen Street Capital has strong heritage in supporting companies in the financial and business services sectors and we are excited by the opportunity to work with Mattioli Woods in achieving our ambitious goals for the business.”
In a recent trading update, Mattioli Woods said that revenues had risen by 8% to £59.1m for the six months to November 30. This included a 4% rise in organic growth, with a “robust” new business pipeline.
Total client assets dropped slightly from £15.3bn to £15.2bn – a reduction brought about by £155m of downward market movements.
Source: The Business Desk
