(Sharecast News) - Active asset management group Polar Capital Holdings has agreed to buy Dalton Capital, the parent company of London-based boutique asset manager Dalton, for £15.6m.
As at 15 December, Dalton had £1.24bn of assets under management.
Polar said the deal has a strong strategic rationale and that Dalton adds a "leading" European investment team which is complementary to its existing European Income team, with established funds and a longstanding track record.
It also provides Polar Capital with broader wholesale and institutional distribution into Europe, particularly in the German market, it said.
The deal is expected to be immediately earnings-enhancing on an adjusted diluted earnings per share basis. It is expected to complete in the first quarter of next year.
Chief executive officer Gavin Rochussen said: "The acquisition of Dalton Strategic Partnership is further delivery of our growth and diversification strategy and is an excellent strategic, geographic and cultural fit with our existing business. It delivers greater scale, new capabilities and an expanded distribution reach in Europe, as well as highly experienced investment teams with a good track record."
Polar Capital (POLR)11 Apr 2024 10:23
Polar Capital hails technology funds as assets under management rise
(Alliance News) - Polar Capital Holdings PLC on Thursday noted the positive potential of interest rates peaking and being cut as it cited a "strong" p...