International law firm Simmons & Simmons has advised Liontrust Asset Management PLC on the acquisition of Majedie Asset Management Limited for a total consideration of up to £120 million.
The proposed acquisition will significantly boost Liontrust’s existing institutional proposition and allow Liontrust to accelerate growth in this key segment of the market through increasing scale, its distribution and client base. Combining Majedie’s investment funds with Liontrust’s strong sales, marketing and brand among wealth managers and financial advisers is expected to deliver improved sales in this market.
Liontrust is an independent fund management group with shares quoted on the London Stock Exchange and is a constituent of the FTSE 250 Index. Liontrust launched in 1995 and was listed on the London Stock Exchange in 1999.
The cross practice Simmons team advising Liontrust was led by corporate partner Mark Carroll supported by Kim Farrar, Tom Grace, Sharikh Gilani and Michal Kochaj (corporate), Tair Hussain (incentives), Elizabeth Wake (employment), Sophie Sheldon (digital business) and Zoë Arnautov (tax).
Commenting on the transaction, Mark Carroll said, “It was a pleasure to work with the Liontrust team on this complex deal, our third with them over the last two years. We are proud to have helped Liontrust once again achieve its strategic objectives as it continues to strengthen its proposition for both its clients and shareholders. This transaction further showcases the firm’s strength in the asset management sector and its ability to combine specialist expertise from across our practice areas.”
Also commenting on the transaction, Liontrust CFO and COO Vinay Abrol said: “We have been very impressed with the Simmons & Simmons team, their capabilities and professionalism, and have thoroughly enjoyed working with them. This was a complex deal made much easier for us with the advice and guidance of the Simmons & Simmons team, and we very much look forward to working with them again in the future.”
Completion of the transaction remains subject to regulatory clearance.
