Oakley Capital Buys BDO Investment Management

Oakley Capital Private Equity has acquired an 84% stake in UK-based BDO Investment Management Ltd. from it’s parent company BDO LLP. The deal values the subsidiary at 14 million pounds ($22.6 million). Financial terms of the acquisition were not released. BDO Investment has more than 200 employees and offices across the UK.

PRESS RELEASE
Oakley Capital Investments Limited (AIM: OCL, “OCIL”, “the Company”), the
AIM-listed company established to provide investors with access to the
investment strategy being pursued by Oakley Capital Private Equity L.P.
(“OCPE”), today announces that OCPE has acquired 84.4% of BDO Investment
Management Limited (“BDOIM” or the “Company”), the UK-wide independent provider
of investment advice and solutions to private individuals and corporates, from
BDO LLP. The transaction values BDOIM at an Enterprise Value of approximately
GBP14m.
With offices throughout the UK, BDO Investment Management has over GBP2bn of
funds under management and advice, and employs over 200 people. BDOIM has three
divisions: Asset Management, Corporate Pensions and Benefits, and Private
Clients.
The Board considers that Oakley’s investment will enable BDOIM to build further
scale and take advantages of growth opportunities within the financial services
market. David Pitman, former CEO of Close Wealth Management, will be appointed
as CEO of BDOIM.
Peter Dubens, Director of Oakley Capital Investments, said,
“We are very pleased to be backing David Pitman and his plans for BDOIM. BDOIM
has a solid market position as an independent provider of client-focused advice;
with our support and investment, we feel that there is a real opportunity to
grow the business by increasing funds under management and adding high quality
corporate clients, while at the same time investing in an infrastructure to
support further growth and provide a first rate service to BDOIM’s clients.”