Wealth and asset management company TEAM has announced that it has acquired Neba Financial Solutions.
The acquisition is for a total initial consideration of £1.181 million to be satisfied by the issue by the Company of a loan note which is convertible into new TEAM shares.
A newly created division, called TEAM East, will comprise of Neba and all the operations of Globaleye Group, which was acquired by the Company in June 2023, creating a significant base to build a financial services business in developing markets. As part of this strategic growth, Globaleye and the Neba businesses are to be rebranded as Neba Private Clients, operating under the TEAM East division.
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.
