Boutique wealth management and corporate broking group Oberon has agreed to acquire WH Ireland’s LON:WHI wealth management division in a move that will significantly increase its assets under administration and expand its regional presence.
Oberon Investments Limited, a subsidiary of Oberon, said yesterday it has entered into a conditional asset purchase agreement with WH Ireland Limited to acquire the latter’s wealth management business and selected assets for a cash consideration of £1m, payable on completion.
The transaction, expected to complete in October subject to shareholder approval and certain contractual conditions, will see roughly £850m of client assets transfer to Oberon, bolstering its wealth management platform.
Oberon strengthening balance sheet
The deal comes as Oberon continues to strengthen its balance sheet. Earlier this month, the group issued £3m in convertible loan notes, adding to a £1.58m equity raise announced in early September. Together, these transactions have delivered a funding boost of £4.58m before expenses, giving the group what it describes as greater flexibility to integrate the WH Ireland business and pursue broader growth initiatives.
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The purchase will mark a notable expansion for Oberon, which has grown steadily in recent years on the back of its discretionary investment management, corporate broking and specialist fund operations. By adding WH Ireland’s wealth arm, the group said it would enhance its service breadth while maintaining the “personal relationships and high levels of service” valued by clients.
Oberon gets regional wealth offices
The agreement will also extend Oberon’s national footprint, with offices in Manchester and Poole to complement its London headquarters and back-office operations in Basildon. WH Ireland’s investment managers, advisers and operational staff will join Oberon, ensuring continuity for clients during the transition.
For WH Ireland’s clients, the move offers access to Oberon’s wider infrastructure and resources without losing established adviser relationships. For shareholders, Oberon said, the transaction reflects its “measured and sustainable” approach to building scale while retaining the focus and agility of a boutique firm.
“This agreement marks a positive and natural development for Oberon,” said Simon McGivern, chief executive. “We have built a strong and sustainable base as a full-service boutique, and welcoming WH Ireland’s clients and client teams further strengthens that foundation.”
He added that the combination would create “a stronger national footprint and an even deeper pool of expertise to support clients across the UK”.
Terms of the deal
Under the asset purchase agreement, WH Ireland will sell its wealth management business and related assets to Oberon Investments Limited for £1m in cash. Both companies’ parent groups have guaranteed the obligations of the transaction, which includes indemnities and warranties.
The deal is contingent on approval from WH Ireland Group plc’s shareholders, as required under AIM Rule 15, and the novation of a key supply contract relating to the business. Following completion, Oberon and WH Ireland will enter into a transitional services agreement to facilitate a smooth transfer of clients and staff, and to ensure operational continuity as systems are integrated.
The acquisition underscores the ongoing consolidation within the UK wealth management sector, where rising regulatory costs and the need for greater scale are pushing firms to seek strategic tie-ups. For Oberon, the WH Ireland deal represents a chance to accelerate its trajectory in a competitive market while maintaining its boutique positioning.
If successfully completed, the transaction will lift Oberon’s assets under administration by close to £850m and add two regional hubs, further embedding the group as a growing player in the mid-tier wealth management space.
