Mattioli Woods is set to acquire private equity business Maven and financial planning firm Ludlow Wealth Management in separate multi-million pound UK deals.
The wealth manager said the deals marked a significant milestone in its growth plans.
Maven is a private equity investor in UK SMEs and alternative asset manager with £772m assets under management. Mattioli Woods is set to buy the firm for £100m.
The acquisitions of Maven and Ludlow Wealth Management represent meaningful progress towards our ambitious medium-term goals."
Ludlow Wealth Management is a large advice firm in the North West specialising in investment, financial planning and pensions with assets under advice totalling £1.6bn. Its holding company LWMG Topco will be acquired by Mattioli Woods for up to £43.5m.
Mattioli Woods said the strategic acquisitions would create organic growth potential.
It said it would win new business through Ludlow WM's experienced team of 22 advisers, adding Maven's 53-strong investment team would expand its investment proposition and product range.
"The acquisitions of Maven and Ludlow Wealth Management represent meaningful progress towards our ambitious medium-term goals. We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first.
"The teams at Maven and Ludlow Wealth Management share our passion for delivering exceptional client outcomes and going the extra mile. Throughout our discussions with Bill Nixon at Maven and Ian Hemingway at Ludlow Wealth Management, it has been apparent that we share a desire to continue growing the enlarged group, further enhancing our client proposition and delivering sustainable shareholder returns, " said CEO Ian Mattioli.
He added: "These transactions represent a complementary extension of the group's existing investment proposition and add to our distribution capacity, allowing us to continue developing our product offering, accelerate organic growth and realise both revenue and cost synergies. I believe we are better-positioned than ever to provide our clients with the proactive advice and bespoke investment solutions they require."
Maven Capital Partners managing partner Nixon said: "Today marks an important step in the continued evolution and growth of the Maven business.
"Since inception in 2009, Maven has consistently grown its AUM, developing a portfolio of SME products for a wide range of valued private and public sector clients. Our people have been critical to that success and finding the right partner who understands our business and can help our team deliver the next stage of growth has therefore been a key objective for myself and the other Maven partners.
"Both businesses have admired the progress achieved by the other over the past decade, and culturally this acquisition represents an excellent fit," he said. "It's very much business as usual, but this exciting partnership will deliver enhanced opportunities and new product potential which will benefit both businesses and our respective clients."
Hemingway, CEO of Ludlow WM added: "This is a hugely positive deal for staff and clients of Ludlow Wealth Management alike. We have known the team at Mattioli Woods for many years, and respect them for sharing our commitment to deliver absolutely the best client service we can offer. We have always put the client at the heart of everything we do and we look forward to this continuing."
Mattioli Woods also announced a fundraising project aiming to raise £100m through an issue of new ordinary shares.