News

11
Mar

Compass Group to rename as Harwood Wealth and float on AIM

Harwood Wealth Group, the new name for Compass Group, which is the holding company of Waterlooville-based Compass Wealth Management and chartered firm Merchants Wealth management is to float on AIM.
The UK based financial planning and discretionary wealth management group intends to launch an initial public offering and placing with sole broker and nominated adviser, N+1 Singer.
In an over-subscribed fund raising, £13.5m has been raised of which £10m is new equity for the company. The proceeds will be used to fund further acquisitions and infrastructure costs.
Since its formation in 2001 as Compass Wealth Management by Neil Dunkley and Mark Howard, the firm has grown mainly by acquisition and share purchases and now manages more than £1.5bn of funds across private and corporate clients, primarily across the South of England.
Conditional upon Admission, the firm will acquire investment management Wellian Investment Solutions. In February Harwood acquired Meon Valley Financial Planning.
Gunner & Co. work regularly with Compass Wealth Management, if you are interested in understanding their acquisition proposition contact Louise on louise.jeffreys@gunnerandco.com