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Gresham House acquisition of FIM Services gets FCA green light
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.
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.