Gresham House double assets with latest acquisition

Gresham House, the specialist alternative asset manager, is pleased to announce the proposed acquisition of the entire issued share capital of FIM Services Limited (“FIM”), an alternative investment fund manager specialising in UK real assets, specifically sustainable forestry and renewable energy investments, by its wholly-owned subsidiary, Gresham House Holdings Limited (“GHH”), for a total consideration of up to £25 million on a cash-free, debt-free basis.
The Acquisition combines two leading firms in UK commercial forestry management and renewables, adding both assets under management (“AUM”) and in-house investment expertise to Gresham House Forestry and Gresham House New Energy. Upon completion, Gresham House’s AUM will be over £1.5 billion across five specialist alternative investment strategies: forestry, new energy, UK housing and infrastructure, private assets and strategic public equity.
On completion, Gresham House will pay an initial consideration of £21 million comprising £11.2 million in cash and £9.8 million in loan notes (such loan notes to be exchanged for new ordinary shares in Gresham House) (the “Consideration Shares”). Further deferred consideration of up to £4 million will be payable by the Company, subject to the satisfaction of certain performance targets being met over a two year period post-Completion.