Brooks Macdonald Completes Sale of International Subsidiary to Canaccord Genuity
Deal News | Feb 24, 2025 | Travers Smith
Brooks Macdonald Group plc recently completed the sale of its wholly owned subsidiary, Brooks Macdonald Asset Management (International) Limited, along with its subsidiaries, to Canaccord Genuity Wealth (International) Holdings Limited. The transaction was valued at up to £50.85 million and was finalized after receiving all necessary regulatory approvals. Travers Smith LLP acted as the legal advisor to Brooks Macdonald, with the transaction team being led by Corporate Partner Jon Reddington, supported by Senior Counsel Joe Knox and Associate Ben Horbye. The sale signifies a strategic move for Brooks Macdonald Group as it refocuses its core operations.
Sectors
- Financial Services
- Legal Services
Geography
- United Kingdom – Brooks Macdonald Group plc is based in the United Kingdom, and Travers Smith, the advising law firm, operates there.
- International – The subsidiary sold, Brooks Macdonald Asset Management (International) Limited, operates internationally, highlighting an International aspect.
Industry
- Financial Services – The transaction involves asset management companies, which are key participants in the Financial Services industry.
- Legal Services – Travers Smith, a law firm, provided legal advisory services for the transaction, categorizing this under Legal Services.
Financials
- £50.85m – The total consideration for the sale of Brooks Macdonald Asset Management (International) Limited and its subsidiaries.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Brooks Macdonald Group plc | Selling Company | Company | A UK-based wealth management firm selling its international subsidiary. |
| Brooks Macdonald Asset Management (International) Limited | Target Company | Company | The wholly owned subsidiary of Brooks Macdonald Group being sold. |
| Canaccord Genuity Wealth (International) Holdings Limited | Bidding Company | Company | The buyer acquiring the international subsidiary of Brooks Macdonald Group. |
| Travers Smith LLP | Legal Advisor | Company | A law firm advising Brooks Macdonald Group on the sale transaction. |
| Jon Reddington | Lead Corporate Partner | Person | Corporate Partner at Travers Smith leading the advising team for this transaction. |
| Joe Knox | Senior Counsel | Person | Senior Counsel at Travers Smith supporting the transaction. |
| Ben Horbye | Associate | Person | Associate at Travers Smith supporting the transaction. |