Acquisition of BDO Investment

RNS Number : 6059V

Oakley Capital Investments Limited

04 November 2010

 



4 November 2010

Oakley Capital Investments Limited

Oakley Capital Private Equity L.P. acquisition of 84.4% of BDO Investment Management

Oakley Capital Investments Limited (AIM: OCL, "OCIL", "the Company"), the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity L.P. ("OCPE"), today announces that OCPE has acquired 84.4% of BDO Investment Management Limited ("BDOIM" or the "Company"), the UK-wide independent provider of investment advice and solutions to private individuals and corporates, from BDO LLP. The transaction values BDOIM at an Enterprise Value of approximately £14m.

With offices throughout the UK, BDO Investment Management has over £2bn of funds under management and advice, and employs over 200 people.  BDOIM has three divisions: Asset Management, Corporate Pensions and Benefits, and Private Clients. 

The Board considers that Oakley's investment will enable BDOIM to build further scale and take advantages of growth opportunities within the financial services market.  David Pitman, former CEO of Close Wealth Management, will be appointed as CEO of BDOIM.

Peter Dubens, Director of Oakley Capital Investments, said,

"We are very pleased to be backing David Pitman and his plans for BDOIM.   BDOIM has a solid market position as an independent provider of client-focused advice; with our support and investment, we feel that there is a real opportunity to grow the business by increasing funds under management and adding high quality corporate clients, while at the same time investing in an infrastructure to support further growth and provide a first rate service to BDOIM's clients."

-ends-

For further information please contact: 

Oakley Capital Investments Limited	[phone]
Peter Dubens
Financial Dynamics	[phone]
Juliet Clarke
Liberum Capital Limited (Financial Adviser & Broker)	[phone]
Steven Tredget / Steve Pearce

 

END

 

 

ACQEAKFLELAEFEF