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N+1 Brewin Starts Trading
N+1 Brewin commenced business today following completion of the acquisition of the Brewin Corporate Advisory and Broking division by N+1 and the management team, from Brewin Dolphin Holdings Plc.
Core Activities
The core activities of N+1 Brewin will encompass corporate advisory and broking, equity research and sales and trading services as well as investment banking and capital markets services. The advisory team are dedicated to growth companies, in both the main market and Alternative Investment Market of the London Stock Exchange and as corporate adviser and broker to over 57 companies the team has raised over £2.1 billion in the last five years and has advised on transactions worth over £4 billion. With its five offices across the UK N+1 Brewin has built a reputation for offering a truly local service to its clients. The research team currently covers a total of 130 stocks across seven core sectors and distributes to over 500 fund managers and buy side analysts.
The N+1 Brewin Team
The 55 strong N+1 Brewin team has an impressive track record with over 20 years experience in the UK corporate advisory and broking markets. The team has recently been significantly bolstered with the strengthening of its corporate finance team through recent appointments and by the recruitment of a Cleantech team which has upped its game in the sector. The senior management team leading the new LLP encompasses Jamie Cumming as Chief Executive Officer, Patricia Pascual, as Deputy Chief Executive, Sandy Fraser as Head of Corporate Finance, Michael Parkinson as Head of Equity Research, David Green as Head of Equity Sales and Trading and Nick Owen as Head of Corporate Broking.
The management team will be supported by the non-executive directors; Thomas Schoch, a previous partner at Cazenove; Fred Vinton, who was previously Chief Operating Officer of NM Rothschild, former Chairman of Electra and has been a partner of both SVP and JP Morgan; Santiago Eguidazu, founding partner and Chairman of the N+1 group and; Jamie Matheson, Executive Chairman of Brewin Dolphin Holdings PLC.
Strategy for growth
N+1 Brewin’s core focus will be on expanding its UK offering, recruiting leading professionals whilst maximising any opportunities arising from the UK’s rapidly consolidating market in corporate advisory and broking. Since its inception in 2000 N+1 has grown rapidly. The N+1 Group has over 230 professionals in 6 European countries including Spain, UK, Germany, France, Italy and Luxembourg. The Group employs more than 130 professionals in its financial advisory practice with local teams in Spain, UK, France, Italy and Turkey and strong relationships with firms in the US, India and Latin America. Together, the wider group has completed around 500 transactions and has raised £6bn in the last 10 years. The Group’s strategy is to become one of the European leaders in the mid market segment. Through joining forces with N+1, the new business will be able to expand its offering throughout N+1’s pan European network with the support of N+1’s strong balance sheet.
The Deal
N+1 and the N+1 Brewin management team have invested a total of £5m of capital in the business. Following completion, N+1 holds a 65% stake in the new company with the team owning 21%. Brewin Dolphin has retained an interest in the partnership with a holding of 14%.
Santiago Eguidazu, Chairman of the N+1 Group, said:
“The UK represents a very dynamic market where we believe there are extensive opportunities for growth despite the economic gloom of the last few years. From the outset the N+1 Brewin team has shared our vision of creating a truly pan-European operation which is able to offer a leading service to our clients in every country in which we are present. We very much look forward to the team being part of the N+1 group, enabling us to maximise the opportunities we see in the UK corporate advisory and broking market.”
Jamie Cumming, Chief Executive Officer of N+1 Brewin, commented:
“I am very pleased we have completed a transaction that provides stability and opportunity for our team, our clients and our very supportive partners N+1 and Brewin Dolphin Plc. We have an exceptionally talented team with an excellent track record spanning over 20 years. I am pleased as well that the team have been able to participate in the ownership of N+1 Brewin and that we will continue to have a strong relationship with Brewin Dolphin Plc. Our unique partnership model means we can, via the N+1 Group, offer clients access to investment banking expertise in all key European geographies. Our core strategy remains to continue to build on the enduring partnerships with our corporate clients, institutional clients, employees and new partners, to enhance our position as a leading corporate advisory and broking business.”
Notes to Editors:
N+1 is a partnership dedicated to investment banking, specialized asset management and private banking. The company currently manages €3,100m of assets including private equity, renewable energies, real estate and equities. N+1 is one of the leading M&A financial advisors in the mid market segment and it is ranked 7th in the European rankings for financial restructurings
Brewin Dolphin Holdings plc is one of the UK's largest independent investment managers for private clients with its origins dating back to the 18th century. The company offers investment management and other financial planning services through 41 offices across the UK and Channel Islands and an office in Dublin. The Group has 1,780 employees and currently manages £24bn of funds on behalf of 130,000 private clients, charities and pension funds. The company is listed on the London Stock Exchange.
Brewin Dolphin Corporate Advisory & Broking: In the year ended September 2010 income was £10.5m and earnings before tax £1.3m. As corporate adviser and broker to 57 companies the team has raised over £2.1 billion in the last five years and have advised on transactions worth over £4 billion.
For more information:
For further information please contact:
Buchanan
Tel: +44 (0)20 7466 5000
Tim Anderson / Isabel Podda / Sophie Cowles