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Mattioli Woods acquires Caledonia Asset Management for up to £1.6m
StockMarketWire.com
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Specialist wealth manager Mattioli Woods said it had acquired Caledonia Asset Management for up to £1.6 million.
The acquisition sum included an initial payment of £0.96 million and up to £0.64 million more, dependent on the business meeting performance targets in the two years after completion .
Edinburgh-based Caledonia was founded in 2000 and provided wealth management services to affluent individuals and families.
It worked with around 150 private clients and had over £55 million of assets under advice and employed five staff.
Story provided by StockMarketWire.com
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