Tavistock Investments has agreed to buy the financial research firm LEBC Hummingbird for a sum of £3m, following its acquisition of a minority shareholding in LEBC Group earlier this month.
Half of the £3m will be paid on 30 November 2022 and the rest upon completion of the deal. Hummingbird is an unregulated business that provides research on asset class allocations to be used within funds and model portfolios. Its service is designed to help investment managers match their investment solutions with the differing risk profiles of their clients. In 2020, Hummingbird began trading as a provider of financial research for the LEBC Group. Hummingbird's audited accounts for the financial year to 30 September 2021 show the company achieved gross revenues of £610k, profit befor...
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