Mattioli Woods plc to acquire Maven

Maven Capital Partners is pleased to announce that Mattioli Woods plc (or ‘the Group’) has entered into a conditional agreement to acquire Maven, subject to satisfaction of certain conditions.

Mattioli Woods is one of the UK’s leading providers of specialist wealth management and financial planning services, with total assets under management, administration and advice in excess of £11 billion, employing more than 600 people at eleven locations across the UK.

The proposed acquisition of Maven has obtained regulatory approval and formal completion is expected to happen within weeks. By bringing together Mattioli Woods’ operations with Maven, Mattioli Woods intends to expand upon its existing investment offerings such as its Private Investors Club and Custodian REIT. This new partnership will also enhance Maven’s ability to source additional SME capital through the wider network and capability of the enlarged Group.

The transaction to acquire Maven will represent Mattioli Woods’ largest acquisition to date and provides the Group with scope to further expand and diversify into new and complementary markets. Maven will operate as a subsidiary of the Group, retaining its brand presence and executive team across the UK regions.

Bill Nixon, Managing Partner at Maven said: "Today marks an important step in the continued evolution and growth of the Maven business. Since being established in 2009, Maven has grown year on year, developed innovative new products and income lines, and has become one of the UK’s most active and dynamic alternative asset managers, supporting more than 400 companies over that period.

Over the past 12 years we have grown from 22 people to a headcount of almost 100 colleagues, and now have a presence in key cities across the UK, with a team which is recognised as having a collaborative and can do culture, in supporting the growth of a wide range of private companies, alongside a small number of carefully selected property development projects.

Our people have been critical to the success Maven has achieved from a standing start over the past 12 years, helping turn our strategy and vision into business reality. We are immensely proud of our progress to date and finding the right partner who shares our ambition and who will help us grow the business further has been a key objective for myself and my fellow Maven partners.

Culturally this acquisition represents an excellent fit. We have known the senior executive team at Mattioli Woods for many years.  Both businesses have admired the respective progress achieved by the other over the past decade, and this coming together represents the logical next step in the creation of a market leading specialist wealth management, investment and advisory business.

It’s very much business as usual for Maven, but this exciting new partnership with Mattioli Woods offers a wide range of benefits, including access to further capital to help us develop additional new products, and to increase our support for the SME sector across the UK.

Ian Mattioli MBE, Chief Executive Officer of Mattioli Woods, commented: "This deal marks a significant milestone in Mattioli Woods’ journey. We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first. The team at Maven share our passion for delivering exceptional client outcomes and going the extra mile.

Throughout our discussions with Bill Nixon at Maven, it has been apparent that we share a desire to continue growing the enlarged Group, further enhancing our client proposition and delivering sustainable shareholder returns. I believe we are better-positioned than ever to provide our clients with the proactive advice and bespoke investment solutions they require.”