M and A
Tilney Completes £162 Million Acquisition
The firm has bought the assets of a Manchester-based investment manager.
UK financial planning group Tilney has acquired the assets
of Midas Investment Management, for the amount of £162 million
($214 million).
Midas, which is a Manchester-based private client investment
manager, will transfer its book of clients and assets to Tilney,
the firm said in a statement yesterday.
Simon Reeks, director of private client investment management,
who has worked at Midas since its inception in 2001, and senior
settlements executive Michael Waddington will join Tilney. They
will be based in its Manchester office.
“We are delighted to conclude this agreement which will add to
the really strong team Tilney has in its historic heartland of
North West England, while providing continuity of relationships
for Midas’s clients,” said Alan Edwards, Tilney’s head of
investment management England. “Simon is a first class private
client investment manager with great client relationships and I
am confident he will play a key role in successfully growing our
business further in the region.”
