A Birmingham team from law firm Shakespeares has helped the owners of fast-growing independent financial advice business Sterling McCall seal a major deal.
Roy Botterill and Keith Spedding led the Shakespeares’ team to enable Sterling McCall to complete a public company transaction.
In the deal, AIM- listed Tavistock Investments will be taken over in a “reverse” transaction by the holding company of the Sterling McCall wealth management network, valued at £7,350,000.The deal is expected to be approved by shareholders in a meeting to be held during May.
Established in 2003, Sterling McCall is headquartered in Kegworth, between Nottingham, Derby and Leicester.
The firm has 23 financial advisers, more than 2,500 active clients and £300 million of client funds under advice.
A rapidly growing firm, Sterling McCall provides both private and corporate clients with a range of financial advice, investment management, estate and retirement planning, insurance protection and mortgages.
The deal has a stock market presence as the cornerstone of a national network of, predominantly self-employed, financial advisers. In terms of its size, the enlarged firm will be amongst the top one per cent of all advisory financial services firms in the Ƶ.
Mr Spedding, partner and corporate law specialist at Shakespeares’ Birmingham office, said: “This is a hugely creative deal demonstrating that there is always a way of generating value from good business - and it doesn’t always have to be via the traditional route.
“We are delighted with the outcome for Sterling McCall and believe they have a fantastic opportunity to continue to grow.
“This is an innovative transaction from an innovative business and the first of many moves the company will make to grow in 2014 and beyond.”
