Jersey-based financial services group Team Plc has acquired Dubai-headquartered Globaleye Wealth Management and Isle of Man-based financial planning firm Thornton Associates for a combined sum of £8.1m ($10.1m, €9.43m).
Post-completion, these two acquisitions will take Team’s assets under management and advice to over £850m.
Thornton and Globaleye represent the Jersey-based firm’s fifth and sixth acquisitions in the last three years.
In the first deal, Team has acquired the entire issued share capital of Globaleye BVI, the parent company of the Globaleye Wealth Management Group.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.