Tavistock Wealth sale to Titan approved by FCA

Tavistock Wealth confirmed that a deal of up to £40m in cash, together with a ten-year earn out had been agreed, and that Titan had received change in control approval from the FCA. Under the terms of the deal, half of the cash will be paid on completion, while a further £20m will be paid in equal annual instalments over the following three years, linked to the maintenance of Titan's revenues. Tavistock will also receive further payments over a ten-year period equivalent in value to 50% of future net income on any increased funds under management within TWL's ACUMEN UCITS funds. Th...