Tavistock

Canaccord Genuity Acts as Exclusive Financial Adviser to Tavistock Investments Plc on the Sale of its Network Business to The Saltus Partnership

Canaccord Genuity is pleased to announce that it has acted as financial adviser to Tavistock Investments Plc (“Tavistock” or the “Group”) on the sale of its network business, constituting two of the Group’s subsidiary businesses, Tavistock Partners Limited and Tavistock Estate Planning Services, to The Saltus Partnership Holdings LLP (“The Saltus Partnership”), backed by Preservation Capital Partners.
 
Tavistock, listed on AIM, is a multi-award winning national financial advice and wealth management platform serving both private clients and corporates.  The Group’s network business provides administration, compliance, risk management, training, technology, and accounting services to a network of self-employed, independent financial advisers.
 
The Transaction delivers a substantial profit on Tavistock’s investment with aggregate potential cash consideration in excess of twice Tavistock’s market capitalisation on the day prior to announcement.

The sale is subject a number of conditions precedent, including shareholder approval and change of control approval from the Financial Conduct Authority.
 
The transaction reinforces our strong track record in delivering innovative solutions to our clients, and is another successful transaction in the wealth management sector, following acting as financial adviser to Foster Denovo group on their fundraising and acquisition of Punter Southall Aspire earlier this year.