Brooks Macdonald Group announces that it will acquire 100% of the issued share capital of each of LIFT – ‘LIFT-Financial Group Ltd and LIFT-Invest’ for an initial consideration of £30 million payable in cash on completion and a total consideration of up to £45m, subject to financial targets. The Acquisition aligns with the Group’s strategy by expanding its client reach and accelerating growth in Financial Planning. The Acquisition is subject to regulatory approval and is expected to complete by the end of March 2025.
LIFT is headquartered in Greater Manchester, with offices in London and Edinburgh.ift had assets under advice of £1.6bn as of the end of 2023. This includes £600mn of which are funds under management.
It has around 1,400 clients, predominantly made up of those in financial services and professional sports. In 2023, Lift delivered revenues of £11.3mn and Ebitda of £2.5mn.
These acquisitions combined will add over £16.5m of annual revenues and grow our AuA by c 70% to create a UK financial planning capability with AuA of c. £6.2 billion.
Andrea Montague, CEO & CFO of Brooks Macdonald, commented:
“I am pleased to announce today the acquisition of LIFT, a high-quality and well-established financial services business with a track record of profitable growth. This is an exciting step in the execution of our strategy and reinforces our commitment to delivering trusted financial planning services backed by best-in-class multi-asset investment solutions. I look forward to welcoming the talented and experienced LIFT team to Brooks Macdonald.”
Michael Holden & Joel Adams, Founders of LIFT, commented:
“We are delighted that we have partnered with Brooks Macdonald, a business with an excellent reputation who share our commitment to achieving the best possible outcomes for clients. We are tremendously proud of the business we have built over the last 17 years, and as part of Brooks Macdonald we will be able to bring a new level of sophistication to our investment proposition, as well as much better opportunities for our people as part of a larger business. We look forward to joining the Group and are excited about the future of our business as we leverage the opportunities this transaction will create for everyone involved.”