Permira-backed Tilney and Smith & Williamson to merge
Summary
The combination of Tilney and Smith & Williamson brings together two of the UK’s longest established and highly successful wealth management and professional services businesses, founded respectively in 1836 and 1881. Smith & Williamson and Tilney operate businesses that are highly complementary in the services they offer, the spectrum of clients they serve and in their geographic presence. Like Tilney, Smith & Williamson has an excellent reputation for looking after its clients over many years and we recognise the value its culture and expertise will bring to the combined group. It will have a significant number of trusted advisers, including approximately 280 investment managers, 260 financial planners and a professional services business with circa 150 partners and directors. Notes: (1) It is also proposed that Smith & Williamson will pay a special dividend to eligible shareholders from accumulated surplus reserves prior to completion.