WH Ireland on acquisition trail
Article Date: Dec 05 2005Fast-growing Mancunian stockbroker WH Ireland is looking at making several acquisitions in the coming months, after a recently released pre-close trading statement saw the board state it ‘once again anticipates being able to report record results’. For the first 11 months of the year turnover is a third higher than last year.
Much of the recent growth has come from acquiring teams of private client brokers and independent financial advisers across the west of the country and Wales to complement the group’s established business in the North-West. The company has also opened a string of new offices lately. Funds under management stand at £361 million.
Chief executive Laurie Beevers is keen to ‘expand into other areas of the UK such as the South and East’. Another major area of focus is Australia, following the acquisition in July of a 51 per cent interest in established Perth stockbroker DJ Carmichael. This company, like WH Ireland, offers services to both private and corporate clients.
‘We want to grow this business in a similar fashion to WH Ireland in the UK, by making small acquisitions,’ said Beevers. An obvious area to target is the east of the country, where the populous areas of Sydney and Melbourne lie.
At 132.5p, the broker is worth £21.2 million.
