Laurus: Azets Wealth Management Acquires Laurus Associates in Strategic Expansion
Deal News | Jan 07, 2025 | B Daily
Azets Wealth Management has agreed to acquire Laurus Associates, a Newcastle-based Chartered financial planner, signaling a strategic expansion in the North East of the UK. Founded in 2002 by Karen Barwick and Colin Dawson, Laurus Associates provides personal and corporate advice in various financial areas. Following the acquisition, the Laurus team, including its founders, will join Azets Wealth Management. This move aligns with Azets Wealth Management's recent growth initiatives, including the acquisition of Milne Craig in Glasgow. Azets CEO Mark Parkinson highlights the cultural alignment and complementary expertise between the two firms. The deal is expected to conclude shortly, enhancing Azets' service offerings and geographic presence.
Sectors
- Financial Services
- Wealth Management
Geography
- United Kingdom – The acquisition involves companies operating across the UK, specifically mentioned locations such as Newcastle in the North East and Glasgow.
- North East England – Laurus Associates is based in Newcastle, contributing to the geographic focus of the acquisition.
Industry
- Financial Services – The article discusses the acquisition of a financial planning firm, which operates within the financial services industry, providing personal and corporate financial advice.
- Wealth Management – Azets Wealth Management and Laurus Associates are involved in wealth management services, focusing on investment portfolios, pension advice, and employee benefits.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Azets Wealth Management | Bidding Company | Company | A financial services firm expanding through strategic acquisitions and seeking to enhance its wealth management offerings. |
| Laurus Associates | Target Company | Company | A Newcastle-based Chartered financial planner providing a range of financial advisory services. |
| Karen Barwick | Director of Laurus Associates | Person | Co-founder and director of Laurus Associates, joining Azets Wealth Management post-acquisition. |
| Colin Dawson | Director of Laurus Associates | Person | Co-founder and director of Laurus Associates, joining Azets Wealth Management post-acquisition. |
| Mark Parkinson | CEO of Azets Wealth Management | Person | The CEO of Azets Wealth Management, overseeing the firm's strategic acquisitions and expansions. |