TAVISTOCK AGREES TO ACQUIRE HUMMINGBIRD FROM LEBC GROUP LIMITED

Tavistock Investments has agreed to acquire Hummingbird from LEBC Group Limited for £3m. Subject to regulatory approval, £1.5 million of the consideration will be paid upon completion and £1.5 million will be paid on 30 November 2022.

Launched in 2019 Hummingbird is an unregulated business that provides research on the asset class allocations to be used within funds and model portfolios.

This acquisition of Hummingbird follows the recent announcement made earlier this year, that Tavistock has completed the purchase of 21% of the issued share capital of LEBC Holdings Limited. LEBC Group is a subsidiary of LEBC Holdings Limited.

Tavistock’s CEO Brian Raven, said: “We are pleased to welcome Hummingbird into the Tavistock Investments Group and look forward to working with Derek and his team as we extend our commercial partnership.”

Derek Miles, LEBC’s managing director, said: “Hummingbird’s revenues and EBITDA have grown rapidly, and we are excited about our future prospects. We look forward to continuing to work closely with Tavistock’s management team to enhance both businesses.”

What this acquisition means for the buyer

For TC Group, the acquisition of Ashley James Limited supports its continued expansion across the South East, strengthening its presence in Hertfordshire. By integrating a long-established local practice with over 30 years of client relationships, the transaction adds both regional depth and additional advisory capacity to the wider group.

The acquisition reflects TC Group’s ongoing approach of combining established regional firms with its broader national platform, which spans more than 50 UK offices. This structure may allow for greater access to technical expertise and specialist services while maintaining local client relationships through existing teams.

Overall, the deal forms part of TC Group’s wider strategy of selective acquisitions designed to support incremental growth in key regional markets and enhance service availability across its network.

What this means for sellers in the sector

For owners of established accountancy practices, this transaction highlights continued interest from larger advisory groups seeking to expand regional coverage through acquisition. Firms with strong local reputations and long-standing client relationships may remain attractive within a consolidating market.

The continuation of existing teams within larger group structures may also indicate that some sellers can explore transactions that allow for continuity of service and staff retention. For business owners considering succession planning, this type of arrangement may offer a route to transition ownership while maintaining the operational identity of the practice.

Market trend context

The UK accountancy sector continues to see steady consolidation, particularly among regional firms with established client bases. Larger groups are increasingly pursuing targeted acquisitions to strengthen geographic coverage and enhance access to local markets.

There is also a continued shift towards networked professional services models, where regional firms operate within wider national groups. This approach allows for the combination of local client service with broader technical, compliance, and advisory capabilities, supporting more scalable operating structures across the sector.

How Capital & Trust typically supports transactions like this

Capital & Trust acts as a business broker, identifying and introducing potential acquisition opportunities to firms seeking expansion. The firm facilitates introductions between parties and supports initial engagement where there is mutual interest in exploring a transaction.

Where appropriate, Capital & Trust may assist in coordinating communication between buyers, sellers, and their appointed professional advisers during early discussions. Its role is limited to originating and facilitating introductions, while all regulated financial, legal, and technical matters are handled by external advisers appointed by the parties.

If you’d like a confidential, obligation-free discussion about selling or acquiring a Wealth Management / Asset Management business, please click here, alternatively contact us on 0207-043-4300 or email us.