Brooks Macdonald Group Plc (BRK.L), an investment manager, announced on Tuesday that it will acquire LIFT-Financial Group Ltd and LIFT-Invest for an initial consideration of 30 million pounds that eventually can go up to 45 million pounds in cash.
Up to 10 million pounds, to be paid in cash at the end of the year following the transaction, will depend upon certain client retention targets.
Up to 5 million pounds may be paid in a 50:50 mix of cash and Brooks Macdonald shares at the end of the first 12 months following completion dependent on EBITDA financial targets being met.
The acquisition is expected to add to earnings in the first full year of ownership, Brooks Macdonald said in a statement.
The transaction is expected to complete by the end of March 2025.
As of December 31, 2023, LIFT's assets under advice were around 1.6 billion pounds of which approximately 600 million pounds were also funds under management.
For the full-year to December 31, 2023, LIFT delivered revenues of 11.3 million pounds with EBITDA of 2.5 million pounds, and profit before tax of 0.5 million pounds.
LIFT is headquartered in Greater Manchester, with offices in London and Edinburgh.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.