TEAM, the wealth, asset management and complementary financial services group, has conditionally agreed to purchase the entire issued and to be issued share capital of Concentric Group.
Under the agreement, TEAM will pay an initial consideration of £1.7m in cash, in addition to a further deferred consideration of up to £0.8m in new TEAM shares.
The deal is subject to approval by the Jersey Financial Services Commission.
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.