Seneca Investment Managers Limited has today completed the acquisition of Liverpool-based Miton Capital Partners Limited, a division of Miton Group plc.
The fund management firm has been renamed Seneca Investment Managers Limited, in an acquisition that represents a key building block for Seneca Partners Group. The purchase has added a profitable and successful fund division to the group’s UK asset management and corporate advisory operations.
The funds included in the acquisition are:
1. LF Seneca Diversified Income Fund
2. LF Seneca Diversified Growth Fund
3. Midas Income & Growth Trust plc
The funds’ successful investment management team will all remain in place, overseen by new CEO, Stuart Eaton. In future Seneca Investment Managers Limited will add additional expertise and resources to the existing team in order to drive further growth. The two OEICs will also be rebranded shortly to reflect their new ownership.
The acquisition will disrupt neither investors, nor staff, and the business’s multi-asset investment pedigree will be strengthened. Seneca Partners is headquartered in Merseyside, and this geographical proximity will ensure the firm’s new owners are able to give Seneca IM the support, resources and direction needed to ensure it continues to flourish.
Stuart Eaton, CEO of Seneca Investment Managers Limited, commented: “Miton Capital Partners Limited was a perfect fit for us – strategically, logistically and geographically. We had wanted to expand our asset management operations in order to offer a more holistic proposition to our clients; and the funds and experience we have acquired enable us to do just that. With the acquisition of this profitable and proven business, we now have the foundations in place to build the Seneca brand and realise our broader goals for our clients and the group.
“The fund management team share our vision for the new company, and are excited at the opportunities that Seneca’s expertise and proximity will bring to the business.”