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New Deal


Announced

Nucleus Financial Group to acquire Curtis Banks for £242m.

Financials

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Transaction Value£242m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium32.6%
One Off Charge-

Tags

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Asset Managers and Custodians

financial sercives

banking

United Kingdom

Majority

Pending

Acquisition

Friendly

Public

Domestic

Single Bidder

Synopsis

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Nucleus Financial Group, a financial services provider, agreed to acquire Curtis Banks, a financial services company, for £242m ($293m). "The Board of Curtis Banks is pleased to be recommending the Nucleus Group's offer for the company, which represents a significant premium in cash and offers certain value for our shareholders. Curtis Banks recognises Nucleus' established reputation and strength in the adviser platform market, as well as our shared customer-centric approach and aligned corporate values. We believe that the Combined Group's greater scale, efficient platform, broader product proposition and enhanced ability to invest in technology and service will benefit all stakeholders," David Barral, Curtis Banks Chairman.

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