BTIM acquires J O Hambro
BT Investment Management Limited has moved to acquire London-based boutique active equity investment manager, J O Hambro Capital Management, for $314million.
BTIM announced to the Australian Securities Exchange today that the acquisition would be funded by a combination of equity, debt and cash.
BTIM chief executive, Emilio Gonzalez (pictured), said the acquisition aligned with his company’s long-term strategic objectives.
He said the acquisition would help drive growth, increase margins and enhance diversification.
“Our combined businesses will create a diversified investment management business with two powerful brands,” Gonzalez said.
“Importantly, the acquisition will make a meaningful contribution to earnings,” he said. “It is expected to be earnings per share accretive in the first full year of ownership on a cash net profit after tax basis.”
J O Hambro is a privately owned boutique investment manager with $10.7 billion in funds under management and 84 employees.
AUTHOR
Mike Taylor
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