Brewin Dolphin buys up Tilman Asset Management
11 April 2012
Private client stockbroker Brewin Dolphin is spending up to £31 million buying one of Ireland's leading wealth-management businesses.
It is paying an initial 20.8 (£18.1 million) for Tilman Asset Management, with up to an additional 15 million based on the group's performance over the next three years. All the payments will be in Brewin shares.
Tilman manages 917 million of funds handled by six investment managers. Founder Ray Tilson owns 61% of the company. Brewin chairman Jamie Matheson described Tilman's business as "one of the best in Ireland".
