Dutch wealth manager Van Lanschot Kempen is to buy a 70% stake in Belgian rival Mercier Vanderlinden.
Mercier Vanderlinden has assets under management of approximately €3.4bn and three own investment funds, with a team of private bankers working from three locations in Belgium: Antwerp, Brussels and Waregem.
Van Lanschot Kempen currently runs eleven offices in Belgium, with client assets of around €5bn.
This partnership fits perfectly into our strategy becoming a leading specialist wealth manager in our second home market."
Mercier Vanderlinden and Van Lanschot Kempen in Belgium will continue to operate independently under their own brands and will collaborate in a number of areas, with combined client assets of €8.4bn.
Karl Guha, Van Lanschot Kempen's chairman, said: "Our roots go back to 17th century Belgium; our partnership with Mercier Vanderlinden reflects that historical reality. This partnership fits perfectly into our strategy becoming a leading specialist wealth manager in our second home market.
"Mercier Vanderlinden's attractive client portfolio, presence in Brussels and growth potential under the ongoing leadership of their founders make for a very appealing partner. Given our similar values, work culture and a belief in a personalised approach to clients, we believe that we have laid the foundations to a common great future."
"We have found the perfect partner in Van Lanschot Kempen. By joining our forces with one of the oldest and most robust family-based private banks in the Benelux area, we can work to achieve our full potential. Our clients will gain access to an expanded product offering, private equity and credit solutions, while our research capacity will also be enhanced," said
Thomas Vanderlinden, founder of Mercier Vanderlinden added: "Our clients will gain access to an expanded product offering, private equity and credit solutions, while our research capacity will also be enhanced."
Van Lanschot Kempen will acquire a 70% stake in Mercier Vanderlinden, followed by a step-by-step increase to 100% by the end of 2025.
This deal is expected to complete in the third quarter of 2021, subject to regulatory approvals.