AIM-quoted Tavistock Investments, the specialist wealth and asset management company, has completed the acquisition of Alpha Beta Partners.
The statement today (20 February) follows 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 £6m has been made.
The total consideration for the acquisition is capped at £18m, subject to ABP’s financial performance over the next five years.
Brian Raven (pictured), 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.”
