Addleshaw Goddard's Corporate team has advised Rathbone Brothers Plc on its acquisition of Speirs & Jeffrey, Scotland’s largest independent wealth manager, for an initial consideration of £104m.
The acquisition will enable Rathbones to establish a much stronger presence in Scotland, with Glasgow becoming the Group’s largest office after London following the transaction. The transaction will also further enhance Rathbones’ position as one of the UK’s largest wealth managers.
AG also advised on the fundraising aspects of the deal, which included a £60m equity placing.
The deal was led by Partner Graham Cross, with the fundraising element led by Partner Simon Wood. Both AG's London and Edinburgh teams were involved.
Graham said: "We are delighted to have advised Rathbones on this strategic acquisition, which gives them a stronger presence in Scotland, and further highlights the ongoing consolidation in the wealth management sector."