Mattioli Woods PLC - Leicester-based asset manager - Buys Richings Financial Management in deal ...

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Mattioli Woods PLC - Leicester-based asset manager - Buys Richings Financial Management in deal worth up to GBP1.8 million. Iver-based Richings has GBP70 million in assets under advice and acquisition expected to be earnings enhancing in first full year of ownership. Chief Executive Officer Ian Mattioli says: We believe the broader range of products and services offered by Mattioli Woods, including our enhanced product offering to clients from the recent acquisition of investment manager Maven Capital Partners, can help build on the great outcomes Richings clients already achieve. Mattioli pays initial GBP900,000 with deferred GBP900,000 contingent on profit targets.

Current stock price: 739.00 pence

Year-to-date change: down 2.8%

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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