Completion of acquisition of Alpha Beta Partners

In brief · summary, not quotable

Tavistock completes acquisition of Alpha Beta Partners for initial £6m payment, total capped at £18m.

Initial consideration payment £6 million
Total consideration capped at £18 million

Full announcement

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Tavistock Investments (AIM:TAVI), the specialist wealth and asset management company, is pleased to announce that further to the Company's announcement of 22 November 2024, all of the completion conditions (including change in control approval by the Financial Conduct Authority) for the acquisition of Alpha Beta Partners Limited ("ABP") have been satisfied and the initial consideration payment of £6 million has been made. The total consideration for the acquisition is capped at £18 million, subject to ABP's financial performance over the next 5 years.

Brian Raven, Tavistock's Chief Executive said:

"I am delighted to welcome Alpha Beta to the Tavistock team. Completion of the acquisition marks a key milestone in the Company's new strategic development to provide asset management services to regulated third party advice firms and, in due course, directly to the public."

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.