Ludlow secures £8m for MBO

Mobeus Equity Partners has provided £8m to back the management buyout of Southport-based Ludlow Wealth Management Group.

Ludlow has grown assets under management substantially since it was founded in 1993 by Sid Ludlow, who has retired from day-to-day involvement in the business as part of this transaction, whilst retaining a minority shareholding.

Mobeus Partner Chris Price led the deal, supported by Freddie Bacon. Chris said: “Ludlow Wealth has a strong track record of organic growth and successfully integrating acquisitions of different sizes. We believe that there is a place in the market for a consolidator who is not looking to push acquired clients into discretionary funds but instead provide focused advisory services that deliver against the clients’ own goals.”

"We want the clients, advisers and staff of Ludlow to reap the rewards from this deal, as well as investors. We want it to be a great place to work for advisers, as that will be key to our future growth." Mobeus was introduced to the transaction by Seneca Corporate Finance who advised the vendors and management. Mobeus was advised by Squire Patton Boggs (Legal); PwC (Financial); CIL Consultants (Commercial); Huntswood (Regulatory Assurance) and Highwire (Management). The vendors and management were advised by Napthens (Legal).

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