Impax completes acquisition of partner Pax Asset Management

Impax Asset Management Group announced on Friday that, further to its statement on 18 September last year, the acquisition of Pax World Management had completed following the admission to trading on AIM of the 2,665,989 consideration shares on Thursday.

The AIM-traded firm said the number of ordinary shares in the company in issue and number of voting rights was now 130,415,087.

“After a decade of partnership, I'm delighted that Impax and Pax are joining forces, creating an investment manager focused on the transition to a more sustainable economy,” said Impax chief executive Ian Simm.

“With assets under management of £11.3bn ($15.3bn), and over 130 staff based in the UK, US and Hong Kong, the combined group is well positioned to offer a broad range of investment strategies to a global client base.”