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Nabarro advises Merchant Securities on acquisition of wealth management business

7 September 2009

Nabarro acted for Merchant Securities plc, the financial services group specialising in private client investment management, institutional research and trading, corporate finance and corporate broking, in relation to its acquisition of Cavendish Young Limited, an independent financial adviser and fee based wealth management company.

Cavendish Young, which was formed in 1999, manages £46 million for high net worth individuals and has a total client base of 2500 private clients.

The Merchant Securities group already had over £90 million under management and the acquisition increases total funds under management to £135 million.

The initial consideration for the acquisition is £65,000. Deferred consideration will be payable dependent upon the future profitability of Cavendish Young and the amount of funds which come under the discretionary management of the group over the same period.

Corporate partner Clare Grayston led the Nabarro team with assistance from associate Sophie Dixon, employment associates Will Santer and Els Janssens, tax associate Kirsten Prichard-Jones and property associate Neil Dryer. Edwin Coe LLP advised the Sellers.