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Hawksmoor puts 25% stake on the market

Hawksmoor puts 25% stake on the market

Hawksmoor Investment Management (HIM) will sell a 25% stake in its business once it identifies a suitable strategic partner. 

HIM chief executive and co-founder John Crowley (pictured) said the decision to sell the stake was prompted by the pending retirement of some staff, and some original shareholders who supported the firm at its 2007 launch, looking to liquidate their holdings.

'[Putting] them all together, we have a holding of existing equity available for a strategic and supportive shareholder wishing to acquire a significant minority stake of up to 25% in a successful and growing investment and fund management business,' Crowley said. 

'With Hawksmoor moving strongly into profitability after three years or so of building a platform for future growth, we are not intending to issue any new equity as part of this process.' 

Crowley added the firm was working with its appointed adviser to 'identify potential buyers who appreciate and respect Hawksmoor’s culture and ambition,and wish to support the company in achieving its vision and other strategic objectives.' 

After launching in Exeter 12 years ago, HIM has added branches in London, Taunton, Dorchester and Bury St Edmunds. 

The firm's most recent set of results, published last July, revealed the company had moved back in the black for the first time in four years. 

The numbers showed the business posted an underlying profit of £653,000 in the 12 months to December 2017 after a loss of £72,000 in the previous year. 

Crowley told Wealth Manager at the time that the move into profitability came after an extensive ‘transformative phase’ of recruitment and restructuring. 

In September the firm appointed senior fund manager and Wealth Manager cover star Ben Conway (pictured) to its board after investment director Andrew Foster stepped down. 

In November the firm hired Brooks Macdonald investment director Ben Mackie after it was announced Richard Scott, one of HIM's co-founders, would be taking more of a backseat role.

 

 

 

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