(Alliance News) - Charles Stanley Group PLC on Thursday said it bought smaller wealth manager Myddleton Croft Ltd.
Leeds-based Myddleton Croft recorded revenue of GBP1.1 million in the financial year that ended June 30, 2018 and had funds under management of GBP96.5 million.
Charles Stanley didn't disclose how much it paid for the acquisition.
"We are committed to providing its clients with a seamless service and continuing the first-class levels of client care that they have come to expect and that we pride ourselves in delivering. They will also be able to benefit from our broader range of services if needed." commented Charles Stanley Chief Executive Paul Abberley.
"We are excited to be joining forces with Charles Stanley where we can achieve the next phase of business growth. They offer the right mixture of culture, high service standards and location without compromising our investment philosophy, which is important to us and our clients." said Myddleton Croft Managing Director Julie Jones.
Shares in Charles Stanley were trading 0.1% higher at 290.20 pence each on Thursday in London.