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Punter Southall is set to buy Opus

Punter Southall Financial Management is set to snap up adv-iser firm Opus Holdings.

The deal is expected to be completed by December and will increase Punter Southall’s advisers from 40 to 60.

The IFA and employee benefits consultancy says Opus is likely to be its last acquisition as it believes it has adequate geographical coverage.

Opus has branches across the UK, including in London, Cardiff, Aberdeen, Bolton and Maidstone, and these are all expected to be maintained.

The firm, which was set up in 1877, will initially retain its brand but there will be discussions about the longer-term branding strategy after the deal gets regulatory approval.

Managing director David Cowlen will continue in his role, reporting to Punter Southall managing director Paul Johnston.

Johnston says the acquisition of Opus will give the combined group a forecasted turnover of 13m next year.

He says: “We are keen to support the growth ambitions of the company and its employees. It will be business as usual.”

Cowlen says: “This deal is great news for everyone connected with Opus. We are proud of our accomplishments and we look to the future and are excited by the opportunities which being part of a bigger group will bring. In recent years, Punter Southall has gone from strength to strength and is one of the most innovative players in our space.”

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