Close Brothers Group PLC (LSE:CBG) has agreed to sell Winterflood Securities, London’s largest equity market maker, to Marex Group for £103.9 million in cash.
Winterflood, known by the screen abbreviation WINS, is being offloaded as part of a streamlining of the listed merchant bank.
Specifically, Close Brothers said the sale supports its strategy to simplify its portfolio, improve efficiency and drive long-term growth.
It said it had decided this was the right time to sell Winterflood following a review of its portfolio. The group is shifting its emphasis to lending, aiming to maximise returns in its main business areas.
The transaction is expected to complete in early 2026, subject to regulatory approval.
Marex, a global financial services platform, will acquire Winterflood’s operations and staff. The deal is expected to strengthen Marex’s presence in equity market services.