Dyer Baade & Company acted as exclusive financial adviser to Waverton Investment Management

Söderberg & Partners acquires majority stake in Timothy James & Partners from Waverton

(London, 13 September 2023) Dyer Baade & Company advised Waverton Investment Management Group on the sale of a majority stake in Timothy James & Partners (“TJP”) to Swedish wealth management group Söderberg & Partners.

Founded in 1995, TJP is an independent London-based financial advice business providing holistic wealth management and tailored financial solutions to private clients. Waverton had acquired TJP in 2019 as part of the group’s expansion into financial planning.

The transaction followed a strategic review of the business and identified Söderberg & Partners as a strong long-term partner for TJP’s next phase of development. The acquisition represented one of Söderberg & Partners’ first major investments in the UK and formed part of the group’s wider strategy to build a significant presence in the UK financial advice market.

At the time of the transaction, Söderberg & Partners was one of the largest providers of wealth management and corporate insurance services in the Nordic region and the Netherlands, with more than £60 billion of assets under management and advice. The group was controlled by its founders and supported by significant minority shareholders KKR and TA Associates.

The transaction enabled Waverton to realise value from a non-core business and focus on its wider strategic priorities, while providing TJP with a new shareholder capable of supporting its ambitions for continued growth.

David Rosier, then Chairman of Waverton Investment Management Group, said the strategic priorities and brand ambitions of Waverton and TJP had increasingly diverged and that Söderberg represented a strong partner to support TJP through its next phase of growth.

Dr Daniel Baade, CEO of Dyer Baade & Company and lead adviser to Waverton on the transaction, said: “We were delighted to advise Waverton on this important transaction. TJP is a high-quality financial planning business with an established brand and strong client relationships. The process attracted interest from a range of credible strategic and financial buyers, and Söderberg & Partners ultimately offered a compelling combination of strategic fit, long-term ambition and resources to support the business’s continued development. The transaction was also an early example of the growing interest from international wealth management groups in the UK advice market - a trend that has subsequently become an increasingly important driver of consolidation across the sector.”

The acquisition completed in January 2024 following approval from the Financial Conduct Authority.

Dyer Baade’s role

Dyer Baade & Company advised Waverton throughout the transaction, including strategic positioning, buyer identification, international buyer outreach, competitive process management, valuation and negotiations.

The process involved engagement with a carefully selected group of strategic and financial buyers and was designed to identify a partner capable of supporting TJP’s future growth while delivering an attractive strategic outcome for Waverton.