Rathbones buys financial planning firm Saunderson House for £150m

Buying 100% of the company's shares, Rathbones is to pay £130.2m in cash and £4.9m in new shares for the initial fee and £14.9m will be deferred. It is buying the financial planning firm from private equity house Epiris, which bought Saunderson House, alongside adviser platform and self-invested personal pension company James Hay, for £206m in 2019.  Rathbones has also agreed to pay up to £7.5m in employee incentive plan awards "aligned to the value creation of the transaction" before the end of 2024. It will pay for the acquisition through internal cash resources and a proposed £50m ...