Gresham House acquisition of FIM Services gets FCA green light
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Specialist alternative asset manager Gresham House has received formal approval from the Financial Conduct Authority for the proposed acquisition of FIM Services by its wholly-owned subsidiary Gresham House Holdings, it announced on Thursday.
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The AIM-traded firm initially announced the proposed acquisition for a total consideration of up to £25m on a cash-free, debt-free basis on 2 May.
At the time, Gresham House said the acquisition would combine two “leading firms” in UK commercial forestry management and renewables, adding both assets under management and in-house investment expertise to Gresham House Forestry and Gresham House New Energy.
Upon completion, Gresham House's assets under management will be over £1.5bn across five specialist alternative investment strategies, being forestry, new energy, UK housing and infrastructure, private assets and strategic public equity.