Dubai-headquartered Aroma Global has acquired West Midlands-based MitonOptimal Portfolio Management (UK) for an undisclosed sum.
Founded in Dubai in 1997, Aroma Global employs around 6,000 people around the world, has an annual turnover of around £250m ($310m, €291m) and has been active in the UK since 2013. Its interests range from construction, film production, plantations and organic farming through to real estate, hospitality and the Fragrant Nature chain of luxury hotels and resorts across the Indian peninsula.
MitonOptimal Portfolio Management (UK) provides investment advisory services to both corporate and individual clients, as well as a range of other personal finance services.
Aroma is now looking to increase the size of the MitonOptimal team, which is based in Wolverhampton, and to expand the range of services the business provides as part of its growth strategy for its new acquisition.
Anne Sajeev Kochumman, director of Aroma Global, said : “The support and advice provided by the RMT team has been excellent and this acquisition is the first part of what we expect to be a long and successful relationship.
“Aroma’s long-term success has been built on taking the time to establish firm foundations in every sector into which we’ve diversified before going on to use this as a base for growth, and we’ll be looking to do the same with MitonOptimal in the UK financial services sector.
“The business is very well-respected in its field, has a highly-skilled team which we will be looking to expand and has the potential to grow significantly in a number of different directions. Moving into the UK financial services sector has been a long-term ambition for us and we have a range of ideas for how we’re going to enhance our presence in it in the years to come.”
