View more on these topics

James Hay parent lines up £206m sale to private equity

Business-Handshake-Meeting-Deal-Low-Angular-700x450.jpgJames Hay parent IFG Group has reached a sale agreement with private equity firm Epiris that will see the firm valued at £206m.

IFG, which also owns national advice business Saunderson House, will sell its entire share capital to Epiris.

IFG shareholders will each be entitled to £1.93 in cash per share – a 46 per cent premium on IFG’s share price last week.

The £206m valuation puts the deal at a multiple of around 21 times IFG’s adjusted post-tax earnings last year.

IFG chief executive Kathryn Purves says: “The offer by Epiris represents a compelling opportunity for shareholders to realise an immediate and attractive cash value for their shareholding in IFG today. In addition, our employees and clients will benefit under the ownership of Epiris which should help accelerate the delivery of IFG’s strategic objectives and the underlying strategies of James Hay and Saunderson House.”

Before the deal goes through, it must be approved by IFG shareholders and receive regulatory and legal approval.

The board of IFG will be recommending shareholders back the deal at an upcoming meeting.

Epiris partner Owen Wilson says: “We are delighted that the board of IFG has recommended our offer and we are excited to work with management to realise the growth potential of James Hay and of Saunderson House and to further enhance their position in their respective markets. James Hay, a trusted provider in the Sipp market, and Saunderson House, a differentiated independent wealth manager, both have strong reputations across their broad range of clients”.

Recommended

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]

16

Clive Waller: Contingent charging can only lead to bad advice

Money Marketing editor Justin Cash wrote an excellent piece recently, suggesting it was time to end contingent charging for defined benefit transfers. I tweeted my agreement, only to be castigated by numerous advisers. I found many of the arguments to retain contingent charging weak at best; others quite ludicrous. Blog: Why DB transfer contingent charging […]

Appeal-Court-High-Court-Building--700x450.jpg
2

State pension court showdown set for summer

A judicial review about changes to the state pension age for millions of women born in the 1950s will take place from 5 to 6 June. The Department for Work and Pensions has confirmed that last November’s decision by the High Court to grant permission for a judicial review will go ahead in the summer. […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Seems a very, very high price given the level of the “offers” in the abortive sale process for Saunderson House and the fact that James Hay only cost IFG around £32m??

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com