Ogier, instructed by Slaughter & May, has advised Palamon Capital Partners on matters of Jersey law relating to its agreement, subject to regulatory approval, to sell Towry for £600 million to Tilney Bestinvest which is owned by certain Permira funds.
The combination will create one of the leading UK wealth management firms offering clients award winning investment management alongside highly skilled financial planning on a national scale. The combined business will have responsibility for over £20 billion of assets for affluent and high net worth clients. The Ogier team included corporate partner Raulin Amy and senior associate Saraid Taylor. Rob Devey, Chief Executive of Towry, said: “Towry and Tilney Bestinvest are an excellent fit with both firms having highly skilled teams that provide top quality financial planning and investment management services to clients. "Moving forwards the combined business will be able to offer an even wider range of services for clients and career opportunities for employees in all parts of the UK. I am proud to have worked with Palamon to make Towry one of the national leaders in the UK wealth management sector.” Raulin Amy said: “We are delighted once again to help long standing client Palamon with their restructuring and on the successful sale of Towry.”