Merchant Securities acquires GT IFA

The deal consists of £1m in cash, of which £750,000 was paid on completion, with a further £250,000 payable on 9 February 2012, together with the issue of 4,347,826 new Merchant Securities ordinary shares. A further consideration of up to £1m could be paid, depending on performance. The acquisition doubles Merchant's assets under advisory and discretionary management to approximately £485m and the deal has received the approval of the FSA. GT has approximately 3,300 private clients, with approximately £280m of assets under influence, and generated revenues of £1.25m and a profit be...