Brooks Macdonald Group is set to acquire LIFT for an initial £30 million, aiming to enhance its financial planning services and expand its client reach, with completion expected by March 2025.

Overview of the Target

Brooks Macdonald Group has announced its decision to acquire 100% of the issued share capital of LIFT – comprising both LIFT-Financial Group Ltd and LIFT-Invest. The initial cash consideration for this acquisition is set at £30 million, with a total potential value of up to £45 million, contingent upon meeting specified financial targets. This acquisition is aligned with Brooks Macdonald's strategic objectives to broaden its client base and expedite growth within the Financial Planning sector. Completion of this deal is subject to regulatory approval and is anticipated by the end of March 2025.

Target Company Details

LIFT is headquartered in Greater Manchester and operates additional offices in London and Edinburgh. As of the end of 2023, LIFT managed assets under advice totaling £1.6 billion, which includes £600 million in funds under management. The firm services around 1,400 clients, primarily from the financial services and professional sports sectors. In the fiscal year 2023, LIFT recorded revenues of £11.3 million and an EBITDA of £2.5 million.

Industry Overview

The financial planning industry in the UK, particularly in regions like Greater Manchester, London, and Edinburgh, has experienced considerable growth. Increasing client demands for personalized financial services have compelled firms