REG - Tavistock Investment - Completion of acquisition of Alpha Beta Partners

Tavistock InvestmentsAnnouncement

20/02/2025 07:15

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RNS Number : 7565X  Tavistock Investments PLC  20 February 2025

 

 

Tavistock Investments Plc

 

("Tavistock" or the "Company")

 

Completion of acquisition of Alpha Beta Partners

 

20 February 2025

 

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."

 

 

For further information:

 

 Tavistock Investments Plc                                                                                                                                                    Tel: 01753 867000

 Oliver Cooke

 Brian Raven

 Allenby Capital Limited                                                                                                                                                      Tel: 020 3328 5656

 (Nominated adviser and broker)

 Corporate Finance:

 Nick Naylor, Liz Kirchner, Daniel Dearden-Williams

 Sales and Corporate Broking:

 Tony Quirke

 Flagstaff Communications                                                                                                                                                     tavistock@flagstaffcomms.com

 (Financial PR/IR)                                                                                                                                                            Tel: 0207 (Tel:0207) 129 1474

 Tim Thompson

 Alison Allfrey

 Anna Probert

 

About Tavistock Investments plc

Tavistock Investments is a specialist wealth and asset management company
focused on meeting the specific needs of private investors and differentiated
by its commitment to excellence and revolutionary thinking.

Within the group, Tavistock Private Client has been recognised many times for
excellent advice services to higher net worth individuals, winning multiple
industry awards. It also operates an employee benefits business and
educational finance portal, "Tell Me How". Tavistock Asset Management,
augmented by the recent acquisition of ABP, delivers institutional portfolio
management services at a retail price, so that clients benefit from collective
buying power, as well as competitive dealing charges. It has a range of
diversified, multi-asset mandates with risk profile, levels of active
management and portfolio structures tailored to suit client needs. The third
element of wealth management, Tavistock Protect, provides clients with a
comprehensive range of life insurance and critical illness policies and will
shortly be expanding into the mortgage market.

Tavistock was founded by CEO Brian Raven, who has been involved in financial
services since 2010 and has a wealth of commercial experience. Together with
Chairman, Oliver Cooke, he founded Card Clear Plc in 1991 to combat the
fraudulent use of plastic payment cards and led it to an AIM listing in 1998.
They then developed a group focused on UK health and fitness sector loyalty
schemes, before Brian invested in the financial services sector in 2010, later
launching Tavistock, along with Oliver, in 2013. The company listed on AIM
that year and has been optimising its business portfolio ever since. Tavistock
recently divested two subsidiary businesses - Tavistock Partners and Tavistock
Estate Planning - to focus predominantly on wealth and asset management
activities. This restructuring has the benefit of optimising the balance of
regulatory risk and commercial reward, as well as providing significant
working and development capital for the group.

 

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