Brooks Macdonald, the UK-based financial advisory and investment firm, has acquired all of Lawrence House Fund Managers, for a total amount of £2.75 million ($4.5 million), depending on certain conditions based on funds under management.

The acquisition will be paid out of existing cash resources, Brooks Macdonald said in a statement.

Lawrence House has about £65 million under management and the firm is based in Canterbury, Kent.

Under the deal, two existing members of Lawrence House's staff will join the group: Alan Stokes (fund manager) and Carol Evins (new business development).

In addition, Lawrence House's sister company, Pharon Independent Financial Advisers, is entering into a Strategic Alliance with BMG to provide investment management services for its clients.