Oberon Investments Group PLC (AQSE:OBE) has agreed to buy WH Ireland’s wealth management division for £1 million, a move that will add about £850 million of client assets under administration to the boutique group.
Completion is expected in October, subject to shareholder approval and certain contractual conditions.
The acquisition will see Oberon expand its footprint with new offices in Manchester and Poole, complementing its London headquarters and Basildon back office.
WH Ireland’s investment managers, advisers and operational staff will transfer to Oberon, ensuring clients continue to work with their existing teams while gaining access to the group’s wider resources.
To support the integration, Oberon recently raised £4.58 million through convertible loan notes and an equity issue, strengthening its balance sheet and providing additional flexibility for growth.