Discretionary Management  

Start-up makes £47m bid for Thesis Asset Management

Start-up makes £47m bid for Thesis Asset Management

Regit Bidco has revealed it wants to buy all the shares issued in the name of Thesis Asset Management.

The company has offered to pay £47m for the asset manager.

Bidco was formed specifically for the purpose of ensuring the acquisition of Thesis could go ahead.

Thesis is a regional private client asset management business that offers financial advice and investment management services.

Total funds under management are in the region of £2.27bn and funds under administration within the authorised corporate director business, Tutman Ltd and Tutman LLP are recorded as being £10.49bn.

Daniel Mytnik, spokesman for Bidco, said: "We have followed the development of Thesis for a long time and appreciate all that it has achieved to date.

"We see great potential in the business and believe that it will benefit greatly from the support of the strong funding partners that the acquisition will bring to Thesis."

David Tyerman, chief executive of Thesis, said: "Thesis has always been an ambitious business and grown quickly.

"We believe that the company now needs investment to build the proposition further still, and to allow it to compete with our largest competitors.

"I am delighted that our new shareholders share this vision. I am pleased also to have been able to work with current shareholders' representatives on the board to get to this point so amicably, and I thank them for their support."

dan.moore@ft.com