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.”

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