5th November 2024
Mattioli Woods has made its first significant move since private equity firm Pollen Street Capital took ownership in September. For an undisclosed sum, it has acquired Cullen Wealth, a financial advisory firm based in Stockport. This acquisition adds £1bn in assets under management (AUM) to Mattioli’s portfolio, enhancing its presence in the Northwest and supporting its commitment to providing tailored wealth management solutions across the UK.
Cullen Wealth, founded 26 years ago by Chair Richard Cullen, serves 3,000 clients, including individuals and families, with a dedicated team of 77 employees. According to Cullen, this acquisition promises “exciting opportunities for growth and enhanced services” for clients under the Mattioli brand. Michael Wright, Deputy CEO of Mattioli Woods, emphasised that the expanded regional presence will enable the firm to deliver “more personalised wealth management solutions” throughout the area.
This transaction reflects a strategic shift for Mattioli Woods under Pollen Street’s ownership. The firm's leadership previously expressed concerns regarding limited growth flexibility in public markets, noting that equity funding under current market conditions would likely be highly dilutive. With Pollen Street's support, Mattioli Woods is positioned to accelerate growth across its core services: advice, investment, and administration.
As private equity expands wealth management, strategic partnerships like the Mattioli-Cullen deal highlight the importance of a well-planned acquisition strategy.
At Chapters Capital, we specialise in financial planning and wealth management M&A and assist firms in navigating similar growth opportunities. If you are considering an acquisition or exploring options for your firm, please contact our experienced associates for a confidential, no-obligation consultation.