Hatstone Lawyers advised TEAM plc (“TEAM”), the AIM-listed wealth, asset management and complementary financial services group, in connection with the acquisition of the entire issued share capital of Concentric Group Limited (“Concentric”), subject to final approval from the Jersey Financial Services Commission.
Concentric is a Jersey-based financial planning and investment consultancy business, delivering market-leading investment performance and analysis for high net worth individuals and institutional investors in Jersey and internationally. TEAM was established to become a leading wealth and asset management business via (among other things) acquiring wealth management businesses which add to the scale and breadth of services provided to clients, and Concentric has an entrepreneurial management team who are well known to TEAM and the acquisition will facilitate a natural step up in the existing working relationships between the two businesses and represents a logical next step for TEAM in its strategy to act as a consolidator in the highly fragmented wealth and asset management market.
Group partner Simon Vivian led the Hatstone team, assisted by Stefan Schausberger and Stephen Wauchope.
“Hatstone was delighted to act for TEAM in connection with the acquisition of Concentric, which represents the next exciting step on TEAM’s journey to becoming a leading wealth and asset management business. We look forward to advising TEAM further as they progress with their plans to achieve this.”
Matthew Moore, COO and CFO of TEAM, commented:
“We very much enjoyed working with Simon and the team at Hatstone. Their responsiveness and attention to detail were exemplary, and we look forward to working with Hatstone again as TEAM further develops.”
13 May 2022