07 February 2017
Amati Global Investors Limited is delighted to announce that Mattioli Woods plc has acquired a 49% stake in the Company. This is a strong endorsement of Amati's capabilities and reputation as a specialist fund manager focussed on UK quoted small and mid-sized companies. There will be no change to the day-to-day management of the Amati funds and portfolios, which will continue to be run by Paul Jourdan, Douglas Lawson and David Stevenson, with Mattioli Woods providing support to Amati in areas such as compliance and governance, with three of its senior directors, including Ian Mattioli, joining the Board of Amati.
Mattioli Woods is a specialist wealth management and employee benefits business, which has been well known to Amati as a successful, growing AIM-listed company in our coverage universe. As well as the sound commercial and operational rationale for the partnership, during the course of negotiations it became clear that our businesses are highly complementary with similar values and business cultures. Whilst Amati has always been a profitable and well financed business, the presence of Mattioli Woods as a partner gives us increased confidence that we can prosper as a specialist fund management house in a changing regulatory environment.
Mattioli Woods clearly understands that Amati's people, structure and investment process have been integral to the Company's success. Whilst both Amati and Mattioli Woods have ambitions for the growth of the Company, this will continue to be carefully managed to ensure that the management of the existing funds and portfolios is not compromised. At the same time, the support from Mattioli Woods in other areas of the business will provide Amati with valuable assistance in taking its investment products to a wider audience.
Ian Mattioli commented "Amati is a great fit culturally and strategically. There are few specialist UK fund managers with such a long and stable heritage, utilising the combined experience of an investment team with over 50 years' knowledge of UK smaller companies. The team's performance has been recognised in a number of awards and ratings. I believe this investment will significantly enhance the Group's fund management expertise."
Mattioli Woods has an option to acquire the remaining 51% of Amati for a two year period beginning in February 2019. In the event that this option is not exercised, Amati Global Partners LLP, the ultimate controlling party of Amati, has the option to buy back the initial 49% stake.