Cheshire firm announces intention to float on AIM
THE STOCK MARKET LISTING WILL SEE TATTON ASSET MANAGEMENT VALUED AT £87M
A CHESHIRE financial advisory business has revealed its intention to float on London’s Stock Exchange in a deal that is expected to value the company at £87m.
Wilmslow-based Tatton Asset Management provides a range of services to directly authorised financial advisers encompassing discretionary fund management, regulatory and compliance services and mortgage services.
It group, which was founded in 2007 by current CEO, Paul Hogarth, operates through three specialist subsidiaries: Paradigm Mortgage Services (PMS), Tatton Capital and Paradigm Partners.
The company is seeking admission to the Alternative Investment Market and is raising approximately £51.6m via the placing of new and existing ordinary shares.
Paul Hogarth, founder and CEO of Tatton Asset Management, said: “At the centre of our business philosophy has been always to champion the DA IFA sector and provide services that help support them and the needs of their retail clients.
“We believe that there is a continuing and vital requirement to offer a value for money, low cost service proposition for the mass affluent market place serviced by the IFA sector.
“As such, the Group represents a new model asset manager that is exploiting such opportunities and challenging the existing off-platform, traditional incumbents whose discretionary fund management services have normally been reserved only for the very wealthy.
“The IPO of the Tatton Asset Management plc marks a very important and exciting milestone in the development of the Group, allowing us to build our market profile further, reward our staff and other stakeholders, and provide access to the capital markets when needed in the future.
“I look forward to working with our new institutional shareholders in continuing to build our business further.”
A team at Zeus Capita advised Tatton Asset Management on the transaction.
Dan Bate, director of corporate finance at Zeus Capital, said: “Through its three specialist advisory businesses, Tatton Asset Management has demonstrated the ability to achieve strong and consistent levels of growth, cornering a strong market share in all three divisions.
“This performance means it represents an attractive option to investors.”