Team plc has exchanged contracts for the acquisition of Hedley & Company Stockbrokers for a total consideration of £3 million, subject to adjustments, to be settled in cash and new Team shares.
It is intended that the shares in Hedley & Co will be transferred immediately after completion to Team’s wholly owned subsidiary, WH Ireland Group Limited.
Hedley & Co is an established wealth management and stockbroking firm based in Lancashire. It is authorised and regulated in the UK by the Financial Conduct Authority and is a member firm of the London Stock Exchange.
As at 31 August 2026, Hedley & Co had £383 million of assets under control, including £173 million of funds under management.
For the year ended 31 August 2025, the business reported audited revenues of around £2.1 million, profit before tax of £0.60 million and net assets of £0.77 million.
Team said the acquisition supports its strategy of building a broader and increasingly profitable wealth management business, bringing together financial advice, investment management and its wider capabilities.
Subject to regulatory approval and completion, Team expects the addition of Hedley & Co to accelerate its move towards sustained month-on-month profitability.
Completion is subject to certain conditions, including approval from the Financial Conduct Authority.
The £3 million consideration will be paid as follows:
- £1.5 million at completion, comprising £1 million in cash and £500,000 in new Team shares, based on the prevailing 10-day volume-weighted average price.
- £1.5 million in deferred consideration, with £500,000 in cash and £250,000 in Team shares payable 11 months after completion, and the same amounts payable again 23 months after completion.
- The cash element of the deferred consideration may be adjusted up or down depending on revenue targets. Total deferred consideration will be capped at £1.675 million and will not fall below £1.25 million.
- Additional contingent consideration of up to £2 million may also be payable if EBITDA performance targets are met in the three years following completion.
Applications for admission of the new Team shares will be made in due course.
Each vendor will enter into a three-year lock-in agreement covering the new Team shares received as part of the acquisition. The long-stop date for the acquisition is 31 March 2027.
Mark Clubb (pictured), Executive Chairman of Team, said: “This is an important acquisition for Team. Hedley & Co is a consistently profitable and extremely well-managed business, with a strong record of robust financial management, excellent client outcomes and well-established compliance processes and procedures. These are exactly the qualities we look for in businesses joining Team.
“We have always believed that Team should grow by combining good businesses with our existing capabilities, while allowing the people who built those businesses to remain an important part of their future. Hedley & Co fits that approach extremely well.
“I am delighted to welcome the Hedley & Co team and, subject to regulatory approval and completion, their clients to Team.”
