APPIAN ACQUIRED

Fund manager Appian Asset Management has been acquired by UK alternative asset manager, Gresham House plc. Gresham House, listed on AIM, is paying initial consideration of € 4.55m, with € 3.6m payable on completion and including

€ 0.95m for cash within the business. Earnout targets out to December 2023 could bring total consideration to € 10m. Beneficiaries of the deal are Appian shareholders Patrick Lawless, Greg Lawless and Kevin Menton.