Mattioli Woods has agreed a £7m deal to acquire Buckingham-based advice firm Boyd Coughlin.
The deal, which will be satisfied partly in cash and partly through the issue of consideration shares, will add over £160m in assets to the firm.
Mattioli Woods chief executive Ian Mattioli says the group is planning further acquisitions.
He says: “Boyd Coughlan is an excellent strategic fit, offering real synergies with the wider group.
“The acquisition gives us the ability to offer our pension, property and investment products to Boyd Coughlan’s clients and to offer enhanced employee benefits services to Mattioli Woods’ clients, strengthening our market position.
“It is our ambition to continue expanding Mattioli Woods’ operations both organically and by acquisition. All our acquisitions completed to date have been earnings enhancing and have broadened or deepened the group’s expertise and services. Raising capital now will give us the flexibility to pursue both existing and new acquisition opportunities as they arise.”
In addition, Mattioli Woods plans to raise up to £18.6m through a firm placing of 2 million ordinary shares and a conditional placing of up to 1,795,918 ordinary shares at a price of 490p per share.