Pollen Street Group (POLN), the private assets group that merged with the Honeycomb debt fund two years ago, has struck a £432m deal to buy financial adviser group Mattioli Woods.
AIM-listed shares in Mattioli Woods (MTW) have tumbled in the past two years today but jumped by a third today as the group recommended shareholders accept a 804p a share cash offer from funds managed by Pollen Street.
Leicester-based Mattioli Woods has £15bn in assets under management, including in fund arm Amati, and 20,000 clients. It recorded revenues of £111m in the financial year ending 31 May 2023.