St James's Place (SJP) has agreed a deal to acquire stockbroker and discretionary investment manager Rowan Dartington Holdings in a deal worth up to £34m.
The agreement is for an initial £19m with a further maximum potential future consideration of £15.2m. The vertically integrated business said the deal will be financed by a new £250m credit facility agreed with a number of banks. It said 25-year-old Bristol-based Rowan Dartington's discretionary expertise - as well as its advisory services, direct equity, trust and charity portfolio management propositions - will bolster SJP's suite of services. Rowan employs about 100 people across 10 regional offices and boasts funds under management in excess of £1.1bn. The deal is subject to...
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