Marex to acquire Winterflood Securities from Close Brothers for £103.9m.

Marex, a diversified global financial services platform, agreed to acquire Winterflood Securities, a UK equity market maker, from Close Brothers, a merchant banking group, for £103.9m. “This acquisition gives us an opportunity to transform our existing equity market making business into a leading franchise, utilising the technology and connectivity of what is the leading brand in this market. This deal is consistent with our strict financial criteria, and we see opportunities to materially improve Winterflood’s profitability and pay back its premium within two to three years. We believe we can gain economies from operating at scale and also benefit from Winterflood’s great technology and strong client relationships, which will enable us to introduce additional products and services from across our platform to a new set of clients,” Ian Lowitt, Marex CEO.