Deal Is Part Of Wealth Management Business’ Growth Strategy
Brown Shipley, experts in wealth planning, investment management and lending, has agreed to acquire NW Brown for an undisclosed sum.
The acquisition is part of Brown Shipley’s growth strategy to add further scale and unlock additional regional opportunities.
A team at Irwin Mitchell led by Manchester Corporate partner, Victoria Zivkovic, advised Brown Shipley on the deal.
Founded in Cambridge in 1974, NW Brown is a wealth manager offering financial planning and investment management services predominantly to private clients. It has £1bn of discretionary funds under management and has over 70 employees.
The acquisition is expected to complete later this year and is subject to regulatory approval. NW Brown will be fully integrated into Brown Shipley in 2020, serving as the East Anglia hub for the business and adding to the six existing Brown Shipley offices.
Alan Mathewson, CEO of Brown Shipley, added: “Cambridge, Norwich and the surrounding area is a hotbed of innovation and entrepreneurialism and this acquisition provides significant opportunities for us to grow across the region. We are delighted to welcome the NW Brown team to Brown Shipley and look forward to putting in place the exciting growth plans we have for the business.”
Rory Tapner, Chair of Brown Shipley, said: “This acquisition is an exciting and significant step in the ongoing drive to increase Brown Shipley’s scale across the UK. There are numerous synergies between Brown Shipley and NW Brown across their wealth management client propositions and employee culture, making the business an ideal fit.”
The Corporate team at Irwin Mitchell in Manchester also recently advised Maven Capital Partners on its investment into back & posture care product specialist, Handsome Limited.