BRISTOL, England--(BUSINESS WIRE)--Rowan Dartington Holdings, a consortium of private investors, today announced the acquisition of Rowan Dartington & Co Ltd, the private client stockbroker and wealth manager, from Astaire Group. Subject to shareholder and regulatory approvals, the transaction is due to complete at the beginning of March.
Led by industry figure Graham Coxell, who becomes CEO, the deal includes an investment from current staff of 15%. David Burrows remains in his position as Director and Chief Operating Officer, Sue Evans as Director and Andrew Morris as Managing Director of Signature. David Snow becomes a Non-Executive Director.
Coxell, who previously held senior positions at both Capita and Marlborough Sterling and brings a wealth of experience to the company, commented: “With £1bn of client assets, Rowan Dartington has had to navigate through some significant challenges over the last few years but, despite this, due to its exceptional customer service and investment management returns, it has remained one of the most successful regional, full service stockbroking firms and a significant player in the industry.
“It has been a difficult couple of years for the company, but its values have remained the same since it was established – it prides itself on putting customers at the heart of everything it does. It has now turned an important corner, and I’ve been impressed by the quality of service, the commitment of its employees and the returns that its investments make. The fact that a considerable proportion of staff, at all levels, chose to invest in the business alongside us as part of this deal, shows they have a firm belief in the future of the company.”
Headquartered in Bristol, Rowan Dartington was founded 20 years ago. Providing investment management to IFAs, individuals, companies, charities and trusts, it employs 90 people in six locations across the UK. The recapitalisation as a result of the acquisition will significantly strengthen the company’s balance sheet, enable continuing investment in recruitment and IT and most importantly allow further expansion and improvements to the business.
Coxell concluded: “As a team, we intend to build upon the good work and strong foundations put in place by the existing management team over the last 12 months. Our immediate objective now is to define the company's strategy for the coming years. It’s business as usual but with an exciting new opportunity to go from strength to strength with an experienced and motivated team with a track record of success. Rowan Dartington has got great further growth potential, especially in the run up to and beyond the Retail Distribution Review deadline.”
Corporate finance advisers Novitas Partners advised the team on the deal.
Visit www.rowan-dartington.co.uk / www.signature.co.uk
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About Rowan Dartington
Rowan Dartington is a Bristol-based independent private client stockbroker, established in 1990. It has six branches and approximately 90 staff across the South of England. The company provides a broad range of stockbroking services, specialising in advisory and discretionary investment management. The firm is responsible for client assets in the region of £1 billion.
Rowan Dartington also has a team dedicated to servicing the needs of intermediaries, branded Signature. Signature is a trading name of Rowan Dartington. It is a well-established division, dedicated to supporting intermediaries and their clients, having worked alongside professionals including independent financial advisers (IFAs), solicitors and accountants for over 15 years. Signature provides bespoke discretionary portfolio management, running assets of approximately £200 million.