Mills & Reeve advises £5m acquisition
Law firm Mills & Reeve’s Birmingham office has advised Helvetia Wealth on the £5m takeover of Dunedin Independent, Scotland’s largest independent financial advisers.
Asset management business Helvetia Wealth is a global company headquartered in Zurich. It has an asset base of approximately £1bn.
Helvetia Wealth said that the strategic acquisition will strengthen its position in the UK.
Guy van der Walt, vice chief executive officer of Helvetia Wealth, said: “The UK is earmarked as one of the group’s key markets. We are now able to boast more than 80 employees from our UK offices alone and anticipate that our proposition of international fund management centred in Switzerland with access to Swiss wealth management services will prove attractive to high net worth individuals.”
Ben Turner, corporate finance associate at Mills & Reeve in Birmingham, led the team advising Helvetia Wealth.
He said: "The Dunedin transaction constitutes our third acquisition in nine months for Helvetia and reflects both their appetite and capacity to acquire good businesses notwithstanding the adverse economic climate.
"The team at Helvetia are a young and vibrant new player in the wealth management services sector whose ambitions match our own.”
HBJ Gateley Wareing acted on behalf of the shareholders of Dunedin Independent.
