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Eversheds Sutherland advises on deal to create one of the largest high-net worth financial planning businesses in the UK

  • Global
  • United Kingdom

    25-06-2021

    Eversheds Sutherland advises management team of Saunderson House on £150m sale to Rathbones

    Eversheds Sutherland has advised the management team of financial planning business, Saunderson House, on its £150m sale to UK-listed Rathbones Brothers plc (Rathbones), one of the leading wealth managers in the UK.

    The deal, once completed, will create one of the largest high-net worth financial planning businesses in the UK, bringing together over 80 certified advisers.

    The Eversheds Sutherland (International) team provided advice to management on all key aspects of the acquisition and was led by Partner and head of corporate, Richard Moulton. The team comprised Partners Danny Blum (employee incentives) and Sophie White (employment), Legal Directors Ceri-Ann McGraa (corporate) and Victoria Green (tax), Principal Associate, Helen Mackey (tax) and Senior Associate Alexander Critchley (corporate).

    Saunderson House is expected to benefit from access to the strength and depth of Rathbones’ investment capability, with clients benefitting from an enhanced investment management proposition that will include the expertise and wider range of investment management solutions available from across Rathbones’ core private client and funds operations, supporting growth and positive client outcomes.

    The acquisition remains subject to regulatory approval.

    Saunderson House’s parent IFG Group was taken private by private equity firm Epiris in 2019 – a deal on which the global law firm, led by Partner Richard Moulton, also advised management.

    Richard Moulton, Eversheds Sutherland, said:

    “The combination with Rathbones is an exciting opportunity for the Saunderson House management team and we couldn’t be more pleased to have supported them on this transaction. We look forward to continuing to advise the team on future opportunities.”

    Tony Overy, CEO of Saunderson House, said:

    "Eversheds Sutherland has been integral to the successful execution of this sale and we’re thrilled. Richard and the team have actively developed a trusted relationship with us since we were taken private in 2019, and as a result understood the key commercial concerns from management’s perspective that needed to be delivered on this deal. By drawing on their technical excellence and in-depth sector experience, the team has provided us with the ideal outcome. We look forward to continuing our work with them.”

     

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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