Oberon Investments has acquired the entire issued share capital of London-based Smythe House.
This deal comes several months after Oberon Investments listed on the Aquis Stock Exchange in February 2021 via a reverse take-over.
Established in 2009, Smythe House provides financial planning to high net worth clients in the wealth management, capital markets and real estate sectors.
Smythe House will be integrated into Oberon’s wealth management division and is expected to add around £40m ($56.8m, €46.6m) in assets under management while also expanding its client base.
Oberon “intends to offer Smythe House’s services to its existing client base in the future”.
Finances
The UK wealth firm will pay Smythe House an initial consideration of £217,000 in cash and issue the vendors 2,454,710 new ordinary shares.
There is a possible future instalment of a maximum 4.9m shares and £33,000 in cash, depending on the performance of the acquired business.
Simon McGivern, chief executive of Oberon Investments, said: “Smythe House, with whom we share the same ethos of client service, illustrates the strategic approach to acquisitions we are taking. Their portfolio of services will be rolled out over time to Oberon’s existing client base.
“We continue to evaluate further acquisition opportunities as Oberon’s AuA and platform continue to rapidly develop and grow.”
