Last checked at 
4 Nov 2010 07:00
4 November 2010
Oakley Capital Investments Limited
Oakley Capital Private Equity L.P. acquisition of 84.4% of BDO Investment Management
Oakley Capital Investments Limited (AIM: OCL, "OCIL", "the Company"), the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity L.P. ("OCPE"), today announces that OCPE has acquired 84.4% of BDO Investment Management Limited ("BDOIM" or the "Company"), the UK-wide independent provider of investment advice and solutions to private individuals and corporates, from BDO LLP. The transaction values BDOIM at an Enterprise Value of approximately £14m.
With offices throughout the UK, BDO Investment Management has over £2bn of funds under management and advice, and employs over 200 people. BDOIM has three divisions: Asset Management, Corporate Pensions and Benefits, and Private Clients.
The Board considers that Oakley's investment will enable BDOIM to build further scale and take advantages of growth opportunities within the financial services market. David Pitman, former CEO of Close Wealth Management, will be appointed as CEO of BDOIM.
Peter Dubens, Director of Oakley Capital Investments, said,
"We are very pleased to be backing David Pitman and his plans for BDOIM. BDOIM has a solid market position as an independent provider of client-focused advice; with our support and investment, we feel that there is a real opportunity to grow the business by increasing funds under management and adding high quality corporate clients, while at the same time investing in an infrastructure to support further growth and provide a first rate service to BDOIM's clients."
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For further information please contact:
Oakley Capital Investments Limited | +44 20 7766 6900 |
Peter Dubens | |
Financial Dynamics | +44 20 7831 3113 |
Juliet Clarke | |
Liberum Capital Limited (Financial Adviser & Broker) | +44 20 3100 2000 |
Steven Tredget / Steve Pearce |