Investacc Group Limited
INAC · Main Market · Financial Services · mcap £99m · 201.0p 2 open situations →
Open · 2
Sale of Vesta and InvestAcc Ltd
Led to Gardner secondary share placing – Accelerated bookbuild launched
On 2026-10-08 InvestAcc agreed to sell Vesta Wealth and InvestAcc Limited (Appointed Representative services) to Edengate, owned by Vesta director Nick Gardner, for £12m EV (9.2x FY25 EBITDA). Gardner funds most of it by selling up to 12.5% of InvestAcc shares in a placing. Completion is expected by early 2027.
- Price
- £12m Enterprise Value, 9.2x FY25 EBITDA
- Payment
- £10m on completion; £1m on each of first and second anniversaries, no performance conditions
- Buyer
- Edengate Wealth Group, owned by Nick Gardner, a director of Vesta and IAL
- Business sold
- Vesta Wealth (financial planners, investment managers) and InvestAcc Limited (Appointed Representative services)
- Conditions
- FCA change of control approval
- Next milestone
- Completion expected by early 2027
Next: FCA change of control approval and completion
- 8 Oct 2026 Agreed; awaiting FCA approval
Gardner secondary share placing
Follows from Sale of Vesta and InvestAcc Ltd – Agreed; awaiting FCA approval
Alongside the disposal, Nick Gardner is selling up to 6,150,911 existing shares (about 12.5% of share capital) by accelerated bookbuild via Panmure Liberum to fund the purchase. The Company issues no shares and gets no proceeds. Several directors intend to participate.
- Size
- Up to 6,150,911 existing shares, about 12.5% of issued share capital
- Seller
- Nick Gardner; he receives all net proceeds
- Bookrunner
- Panmure Liberum Limited
- Price
- To be set by accelerated bookbuild; not yet stated
- Director participation
- Hodges, Self, Castagno, Copinger-Symes and Potkins intend to participate
Next: Announce bookbuild result: price and number of shares sold
- 8 Oct 2026 Accelerated bookbuild launched
Closed · 1
Company filings. Not investment advice.