Saltus Fund Management, an independent discretionary fund manager, is to acquire Altrincham, UK-based wealth management company Mercater Capital Management for an undisclosed sum. The combined entity will trade under the Saltus name.

The Mercater team currently manages funds of £65 million, but this is set to increase “dramatically” as it becomes the north west hub of Saltus.

This is the second acquisition undertaken by Saltus this year. Previously, the firm bought Montague Capital, a Midlands-based independent discretionary fund manager.

Simon Armstrong, managing partner at Sa...