Wealth manager Mattioli Woods has completed its acquisition of Ludlow Wealth Management, it announced this morning (6 September).

Ludlow is a North West-based financial planning business with £1.6 billion in assets under advice.

Mattioli Woods will pay up to £43.5 million for the firm, which is expected to drive revenue and cost synergies of at least £1 million when fully realised.

Earlier this year Mattioli Woods raised £112 million via a placing to fund its acquisitions of both Ludlow and private equity firm Maven Capital Partners UK.

The company has allotted 780,250 new ordinary shares in Matt...