Brewin Dolphin completes purchase of Duncan Lawrie

Brewin Dolphin confirmed the completion of its acquisition of Duncan Lawrie Asset Management on Thursday, having initially announced the acquisition on 19 December.

The FTSE 250 firm said at the time of the initial announcement that the consideration would comprise a cash payment on completion of £25.5m, and a payment to reflect the value of net assets in the business at that date, which was estimated to be £2.5m.

It said the acquisition of Duncan Lawrie would bring a fresh £735m in funds under management to the business, taking total group funds under management to £36.1bn on a proforma basis.

“I am delighted to welcome the clients and employees of Duncan Lawrie Asset Management to Brewin Dolphin,” chief executive David Nicol said on Thursday.

“This transaction represents a significant endorsement of our growth strategy.”