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TEAM plc has announced its plans to buy Jersey-based IFA Concentric Group for up to £2.5mn, subject to approval by the Jersey Financial Services Commission.

Jersey-based wealth and asset management group Team has acquired financial planning and investment consultancy Concentric Group for £2.5m ($3.3m, €3m).

TEAM plc, the wealth, asset management and complementary financial services group, have announced that it has conditionally agreed to acquire the entire issued and to be issued share capital of Concentric Group Limited

Concentric is a successful Jersey-based investment consultancy business providing investment advice and analysis to over 430 retail, HNWI and institutional investors, with assets under advice (“AUA”) of £231 million (as at 31 December 2021). An initial consideration of £1.7 million is payable in cash, plus further deferred consideration of up to £0.8 million in new shares in TEAM.

LONDON, UK: TEAM plc has conditionally agreed to acquire the entire issued and to be issued share capital of Concentric Group Limited.

TEAM plc, the wealth, asset management and complementary financial services group, has conditionally agreed to acquire the entire issued and to be issued share capital of Concentric Group.

Team PLC said Thursday that it is raising 2.7 million pounds ($3.3 million) via a share issue to part fund the acquisition of financial planning and investment consultancy business Concentric Group Ltd.

TEAM plc is to acquire the entire issued and to be issued share capital of Jersey-based financial planning and investment consultancy Concentric Group.