42m) from its own cash resources, with the balance of the acquisition costs being funded by a combination of GBP 25m of bank debt, equity subscription from the 7IM
management team and cash on the 7IM
balance sheet at completion.
is an investment management business with a particular focus on longer-term investment for individuals and institutions.
was established in 2002 by its co-founders, chief executive officer, Tom Sheridan, and head of corporate development, Justin Urquhart Stewart, along with their chief finance officer, Charles Sparrow, and has grown from its seven founder members to a team of more than 190 people.
This follows the announcement in December 2012 that the entire RDR-ready range of investment funds from Architas is now available on a broader range of platforms, including Cofunds, FundsNetwork, Transact, Nucleus, Ascentric, 7IM
, Sippcentre, Hargreaves Lansdown Vantage and Standard Life, in addition to the AXA Wealth Elevate platform.
49m) in cash to acquire approximately 94% of 7IM
Holdings Ltd the controlling member of Seven Investment Management LLP which operates the 7IM
business, from its current owners, Allied Zurich Holdings Ltd and Aegon UK plc.