Mattioli Woods acquires Opus Wealth Management in strategic move

Mattioli Woods plc, a leading specialist in wealth and asset management, has announced the acquisition of 100% of the share capital of Opus Wealth Management Limited through its subsidiary Ludlow Wealth Management Group Limited. The initial consideration for the acquisition stands at £0.71 million, with a potential for an additional £0.71 million based on the achievement of specific performance targets in the upcoming year.

Boosting Asset and Client Portfolio

Opus Wealth Management, a Blackpool-based firm, specializes in financial planning and wealth management services, boasting approximately £53 million of assets under advice and serving around 100 private client families. In the fiscal year ending April 30, 2023, Opus Wealth Management generated revenues of £0.37 million and a pre-tax profit of £0.14 million. At the close of this period, Opus reported net assets totaling £0.10 million.

Advancing Strategic Goals with Acquisitions

Michael Wright, Deputy Chief Executive Officer of Mattioli Woods, commented on the acquisition, saying, “We are delighted to welcome Opus Wealth Management into the Mattioli Woods Group as part of the Ludlow business. This transaction aligns well with our strategic goals and offers a robust pipeline of bolt-on acquisition opportunities that will accelerate and complement our organic growth.”

Smooth Integration and North West Expansion

Ian Hemingway, Chief Executive Officer of Ludlow Wealth Management Group, expressed his optimism about the acquisition, stating, “Opus is a business we know well. Our shared approach to client service will facilitate a smooth integration over the next few months.” Hemingway also highlighted that the acquisition “further strengthens our operations in the North West as we look to build upon our existing presence in the area.”

The acquisition marks a significant step for Mattioli Woods and its subsidiary Ludlow Wealth Management Group in expanding their wealth and asset management services, particularly in the North West. It also signals the company’s ongoing commitment to strategic growth through both organic means and targeted acquisitions.