Announcement from Alpha Beta Partners
We are excited to announce an update on the company’s strategy and progress.
As you are aware, we have been growing rapidly over the past few years and as such have been seeking the most appropriate partner to help us maintain that momentum, by providing additional capital and support as we seek to continue our journey. As is often the case with fast growing businesses, we have been approached at various times with expressions of interest and, as a Board, we set out this year to meet the following objectives.
Find a strategic partner that would support the continuation of the AB growth plan.
Maintain the brand, integrity and continuation of key Board members and the future of key personnel.
Achieve an exit for passive initial investors whilst allowing the committed management team to retain commercial interest and thereby invest in future plans.
Find a partner that is the “right fit” for AB and our journey, focussed on genuine client centricity, integrity and end investors, without the overburden of Private Equity or other such models. In other words, a trusted strategic acquirer.
We are now delighted to let you know we are progressing an arrangement that fits the above criteria with Tavistock Investments PLC. Whilst the management team of Geoff Brooks and Andrew Thompson, Mel Kennard and Asim Javed will continue, there will inevitably be some changes. We would like to recognise the significant contribution to the business made by the founder members; particularly John Reynolds, our current Chairman and historically Christopher Finch and Shahid Chaudhri who all hand over the business in great shape for the future. We will be taking the opportunity to recognise them on completion.
You will no doubt have seen under separate announcements today about our acquisition by Tavistock Investments PLC. They are undergoing a strategic transformation, away from a financial advice led group, to one with an asset and wealth management focus as details in previous announcements on the related Saltus deal. AB will become part of the Group but critically, remain separate and distinct in its operation. Further, AB manufactured investment solutions will form only one of several potential solutions within the Tavistock Group.
Tavistock comments:
One key intention of the strategic acquisition is to retain AB brand integrity and operational independence in the marketplace and to facilitate opportunities for further growth. This strategy aligns with the AB Board requirements set out above. Additionally, and in support of this objective, Alpha Beta will enter a joint venture with The Adviser Centre (TAC) led by Peter Toogood CIO, offering independent investment consulting and fund research / selection to the professional adviser community. To facilitate this arrangement and forge future growth, TAC will exit the Lloyds Banking Group early in 2025.
Brian Raven, Tavistock Chief Executive is happy to speak directly with you (only if this is considered helpful) in relation to the transaction and our exciting plans.
The above is subject to FCA approval.
Alpha Beta Partners Limited is the parent company of AB Investment Solutions Limited registered in England and Wales no.10963905 having its registered office at Northgate House, Upper Borough Walls, Bath BA1 1RG.
AB Investment Solutions Limited is registered in England and Wales no. 09138865 and is authorised and regulated by the Financial Conduct Authority FRN 705062.