Sanlam UK buys Tavistock Financial in £1m deal

Thu, 10 Aug 2017

Cheltenham-based firm Tavistock Financial has been sold to Sanlam UK in a deal worth £1m, subject to FCA approval.

The sale by Tavistock's parent company, Tavistock Investments, which is also located in Cheltenham, includes a network of 158 financial advisers along with 25 support staff.

The AIM-listed parent has said that despite a reduction in the reported level of gross revenues, it doesn't expect there to be any material impact on the flow of funds into its centralised investment proposition or future profitability.

In the year to 31 March 2017, Tavistock Financial's estimated gross revenues would be in the region of £13.4m, with a contributed earnings before interest, tax, depreciation and amortisation, EBITDA, of £109,000.

Jonathan Polin, chief executive of Sanlam UK, said: "We are very pleased to welcome Tavistock Financial's network of high quality advisers to Sanlam.

"Earlier this year I announced the launch of Sanlam Partners, a way for adviser firms to leverage the benefits of the wider Sanlam Group while retaining control of their business.

"The initial response from advisers has been hugely positive and today's acquisition allows us to accelerate this concept, putting us in a strong position to bring on-board other adviser firms."

Subscribe to Business Sale Report here.


Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.


Latest Businesses for Sale


Printers/ Stationers - Andover, Hants

Asking Price: 
Turnover:  £640,000
Location: 

Digital printing specialists, commercial and retail stationers, lithographic printing and various ancilliary services. Freehold retail shop and long leased factory unit. Sale price includes all equipment and properties. NP £80k...


Hotel Accommodation - Folkestone

Asking Price: 
Turnover:  £500,000
Location: South East

Three Victorian houses joined together to form a luxury 8,500 sq. ft. facility. Includes reception, two lounges, four dining rooms, 16 en-suite bedrooms, music room, two kitchens, conservatory, bar, sauna, hot tub and more...


Suppliers of Souvenirs - Derbyshire

Asking Price: 
Turnover:  £1,200,000
Location: East Midlands

With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...


View More Businesses for Sale >>