Tavistock buys 21% stake in advice firm LEBC Group

Buying shares from founders' widow

Tom Ellis
clock • 1 min read

Tavistock Investments has bought a 21% stake in adviser firm LEBC Group.

The firm has bought £10m worth of shares from Marie McVitie, the widow of LEBC founder and former CEO Jack McVitie. The firm said £6m will be paid upon completion of the deal, which is subject to regulatory approval, and the remaining £4m in 12 months' time after the deal is completed.  The deal, Tavistock added, will give the firm right of first refusal if any of the company's other shareholders want to sell any shares. BP Marsh & Partners, an AIM-listed company, is LEBC Group's largest shareholder and owns 60% of voting rights. Tavistock Investments is also an AIM-listed firm that has ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Financial advisers prioritising regular client communication

Financial advisers prioritising regular client communication

Majority reviewed communication methods in last 12 months

Sahar Nazir
clock 16 February 2024 • 1 min read
FSCS declares Durham and Worcester advice firms as failed

FSCS declares Durham and Worcester advice firms as failed

Duo part of a raft of firms declared in default since last December

Sahar Nazir
clock 16 February 2024 • 1 min read
Feel Good Friday: SJP charity work passes £130m mark

Feel Good Friday: SJP charity work passes £130m mark

The St James’s Place Charitable Foundation was established in 1992 by SJP’s founders

Professional Adviser
clock 16 February 2024 • 1 min read