The UK wealth management and employee benefits business has reported strong performance in its latest results statement as it continues to push forward on the acquisition trail.

Mattioli Woods’ adjusted EBITDA grew by a quarter in the year ended 31 May 2016 to £9.3 million ($12.4 million), compared to the previous year, driven largely by the five acquisitions it completed during the period.

Acquisitions over the year include those of Boyd Coughlan, the Taylor Patterson Group and Lindley Trustees' pension business following a share placing in June that raised £18.6 million of new money. Mattioli Woods said all businesses were integrating well.

Revenues increased 24 per cent year-on-year to £43 million and the company generated an adjusted EBITDA margin of 21.6 per cent, versus 21.3 per cent a year earlier. 

Total client assets rose 22 per cent to £6.61 billion, of which discretionary assets under management were up 16 per cent at £1.17 billion. The company attracted over 1,100 new clients during the period, while boosting its consultant numbers from 81 to 104. Earnings per share were up 14 per cent at 31 pence and the board proposed a total dividend for the year of 12.5 pence.

Meanwhile, the firm is acuiring MC Trustees for £2.2 million. MC Trustees, which was founded in 1986, provides pension administration and trustee services to over 1,500 self-invested personal pension (SIPP) and small self-administered scheme (SSAS) clients with over £400 million of assets under administration. Based in Hampton-in-Arden in the West Midlands, the business employs 26 staff. Its management team will be retained by Mattioli Woods following the acquisition, which is expected to be earnings enhancing in the first full year of ownership. In 2015, MC Trustees logged a pre-tax profit of £400,000 on revenues of £1.6 million.

“Acquisitions are a core part of our growth strategy and the five acquisitions completed in the year are integrating well. The acquisition of Old Station Road Holdings Limited and its subsidiaries (together 'MC Trustees') is another excellent strategic and cultural fit with our existing business and we continue to seek further value-enhancing acquisitions,” said Bob Woods, executive chairman at Mattioli Woods, who will soon be succeeded by Joanne Lake.