As well as agreeing to buy Globaleye, London-listed TEAM plc has also agreed to buy a firm based in the Isle of Man, highlighting a busy round of M&A activity.
London-listed TEAM plc, a wealth, asset management and financial services group, has bought all the share capital of Dubai-based Globaleye Wealth Management, aka Globaleye, a firm advising on £242 million ($300.5 million) of client assets.
The deal involves a total consideration of up to £5.6 million. The purchase is expected to be earnings enhancing in the first year of ownership, TEAM said in a statement.
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.