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Tatton Asset Management Closes Acquisition of 50% Stake in 8AM Global
Monday 15 August 2022

UK-based investment management and IFA support services group Tatton Asset Management plc (AIM: TAM) has completed the acquisition of 50% of the share capital of investment manager 8AM Global Ltd, having received regulatory approval, the group said.

TAM agreed to acquire 50% of the issued share capital of 8AM Global Ltd. for a total consideration of GBP 7m (USD 8.45m), with an option to acquire a further 50% in due course.

8AM is an investment manager primarily focussed on delivering risk-profiled model portfolios and a small range of multi-manager funds.

Their model portfolios and funds will complement TAM's existing proposition, further demonstrating our commitment to supporting financial advisers in delivering low-cost investment management and enhancing IFA client outcomes.

The proposed acquisition will provide IFAs' clients access to an extended range of risk profiled investments utilising 8AM's experience, investment style and approach.

Post completion 8AM's AUM is expected to be at least GBP 0.8bn and it is anticipated to generate adjusted operating profit of GBP 0.7m in its first full year of ownership.

As outlined in the deal announcement dated 20 April 2022, 50% of the consideration is payable through the issue of shares in Tatton.

The share consideration will be satisfied by the issue of new 877,737 ordinary shares of GBP 0.20 each.
Date Published: 15/08/2022