ASSETCO BUYS EDINBURGH ASSET MANAGER FOR £2.8M

Revera Asset Management a fund management business founded in 2003,  has been acquired by AssetCo, they have reached an agreement to purchase the entire issued share Capital of Revera Asset Management who are based in Edinburgh for £2.8m.

When the deal is approved by the FCA, AssetCo will purchase 54,639 ordinary shares in Revera at 10p each and pay a cash sum of £1.9m on completion, this is expected to take place in May 2022.
Upon completion, the 5 employees (four full-time and one part-time) at Revera Asset Management will join the team at AssetCo. Revera will work together and in corporation with Saracen Fund Managers, who were acquired by AssetCo last July.
Glen Nimmo, CEO of Revera said: “We are particularly keen to start working alongside our friends of many years, Saracen.”

Campbell Fleming, CEO of AssetCo, said: “The acquisition of Revera is the next step in our plan to establish an active equity platform as part of our overall strategy to build an asset and wealth management business that delivers for investors in the 21st century.

“The acquisition also demonstrates our commitment to a presence in Scotland, where there is a genuine breadth and depth of talent.”  

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