Mattioli Woods has announced plans to buy Maven Capital Partners in a deal worth £100m.
The English wealth manager will also acquire Ludlow Wealth Management for around £43.5m
Maven manages around £772m in assets under management across 10 offices in Glasgow, Edinburgh, Manchester, Birmingham, London, Newcastle, Bristol, Nottingham, Durham and Reading.
The private equity firm was launched in 2009 after a buyout of Aberdeen Asset Management's private equity business.
Maven managing partner Bill Nixon insisted it would be business as usual if Mattioli Woods’ acquisition gets shareholder approval.
“All of our team will still be in place and all our members on the company boards will still be there,” he added.
Mattioli Woods employs 600 people across 11 offices around the UK, including in Aberdeen, Edinburgh and Glasgow. It has assets under advice and administration in excess of £10bn.
Ian Mattioli, chief executive of Mattioli Woods, said: "These acquisitions mark significant milestones in Mattioli Woods' journey.
"Since our admission to AIM in 2005 we have seen significant expansion in both the size and nature of our business, responsibly integrating asset management, financial planning and employee benefit services to serve personal and corporate clients throughout the UK.
"The acquisitions of Maven and Ludlow Wealth Management represent meaningful progress towards our ambitious medium-term goals."
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