Tavistock buys Plus Group in AI push

Moves towards Vertex Group rebrand

Jen Frost
clock • 2 min read

Tavistock Investments (Tavistock) has bought advice technology and back-office support business Plus Group, in a deal worth up to £16m, and is expected to rebrand as Vertex Group.

Tavistock has made an initial £900,000 cash payment for the business, with a further £3.6m to be paid over the next 18 months. It will pay another up to £11.5m in cash over the next four years, a deferred consideration figure that is subject to agreed performance criteria. Plus Group reported turnover of just under £1m and EBITDA of about £340,000 in its last financial year. The deal comes as Tavistock, which will tap into Plus Group's artificial intelligence agent and paraplanning technology, is looking to build a financial services group that combines advice, investment managemen...

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Jen Frost
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Jen Frost

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