Mark Allen Group to acquire the UK and Asian assets of Bonhill

According to Ben Allen, Mark Allen Group (MAG) has exchanged contracts to acquire the UK assets and Asia companies of Bonhill Group plc. The assets MAG are acquiring include: Portfolio Adviser, Expert Investor, International Adviser, Fund Selector Asia, ESG Clarity and Future Flow.

Ben Allen said: “as well as adding some brilliant brands to our portfolio, the acquisition takes us into the financial services and wealth management sector, which is an exciting new market for our company. In addition, with offices in Hong Kong and Singapore, as well as London, it will accelerate our plans for international expansion. I’m really looking forward to welcoming Bonhill’s excellent team, including CEO, Patrick Ponsford into the group when we complete, subject to Bonhill Group plc shareholder approval, at the end of the month. We have more acquisitions on the horizon, so it has been a very busy start to the new year. #bonhill #markallengroup

The offer now goes to Bonhill’s shareholders for approval over the next two weeks. The American arm of the company, InvestmentNews, is being sold separately.

Founder and executive chairman of MAG, Mark Allen said: “This is a very significant acquisition for us. We are inheriting some fantastic brands, which we aim to develop further with the help of an excellent and professional team of around 50 people globally.

“Wealth management and financial services is an area of considerable interest and will add to the array of sectors in which we operate. The acquisition also gives us a foothold in Singapore and Hong Kong, an area of the world where we have long wanted to have a presence.”

Mark Allen added: “During the last few weeks we have had to work very hard and intensely to arrive at this point. Although this is principally an asset sale, local law made it necessary for us to acquire Bonhill’s two Asian companies. I would like to thank Bonhill’s chairman, Jonathan Glasspool and CEO Patrick Ponsford for the professional and very fair way they negotiated this deal. I am delighted that Patrick Ponsford will be joining us to lead the new company, MA Financial Media.”