The parent group of Hawksmoor Investment Management has agreed to acquire a 100% stake in Gore Browne Investment Management (GBIM) for an undisclosed sum.
Hurst Point Group, the UK wealth and asset management investment arm of private equity company Carlyle Group, will merge the businesses of Hawksmoor and GBIM after the deal is complete.
Founded in 2004 and based in Salisbury and Harrogate, GBIM provides investment services for private clients, family trusts, charities, pension funds and professional advisers. The two GBIM offices will maintain the Gore Browne name.
With offices in Exeter, Bath, London, Taunton, Dorchester and Bury St Edmunds, Hawksmoor is an investment and fund management business.
The combined business will have eight offices across the UK.
The acquisition is subject to Financial Conduct Authority (FCA) approval.
Sarah Soar, Hawksmoor chief executive, said: ‘We are delighted to welcome the GBIM team. It is clear that they share our values and have a strong emphasis on client satisfaction.
“Combining their knowledge and expertise with the Hawksmoor team will allow us to expand our offering across the south and the north east as we welcome the team across two new offices and continue to grow the business.”
Mark Arkwright, chief executive of GBIM, said: “For some time, the Gore Browne board and shareholders have been seeking a partner in the private client sector to invest in our business. Crucially, the investor needed to have a known track record of treating clients as individuals and providing bespoke discretionary investment management solutions to them.
“We are delighted to partner with Hawksmoor. We have known and respected their team for many years and feel confident that together we will continue to deliver an exceptionally high quality, personal service to clients.”
Hurst Point Group was set up in 2019 to facilitate investment by global PE firm Carlyle into the UK wealth management sector. The group currently consists of Harwood Wealth Management, which it acquired in 2020, and Hawksmoor, which it acquired in 2021.