LONDON – Team PLC (AIM: TEAM) has agreed to acquire its smaller rival WH Ireland Group PLC (AIM: WHI) in an all-share deal, the companies announced on Tuesday, in a move to create a diversified wealth and asset management group with a combined market value of approximately £30.3 million.
The recommended acquisition, structured as a court-sanctioned scheme of arrangement, aims to forge a “stronger, scalable platform” to compete as an independent alternative to larger consolidators in the UK and international wealth management sector.
Under the terms of the deal, WH Ireland shareholders will receive 0.195 new Team shares for each WH Ireland share they own. Based on Team’s closing price of 27.5 pence per share on the last practicable date before the announcement, this values each WH Ireland share at approximately 5.4 pence, and the entire issued share capital of WH Ireland at around £12.7 million.
The offer price represents a substantial premium for WH Ireland shareholders, standing at approximately 257.5% to the company’s undisturbed closing price of 1.5 pence on November 12, 2025, the day the offer period commenced.
Upon completion, existing WH Ireland shareholders will own about 43.5% of the enlarged group, with Team shareholders holding the remaining 56.5%. The new entity will be headquartered in Jersey and will operate regulated subsidiaries in Jersey, the UK, and selected international markets, offering discretionary investment management, financial planning, and advisory services to private, intermediary, and institutional clients.
Overwhelming Shareholder Support
The acquisition has garnered significant support from shareholders of both companies, smoothing its path to completion.
Team has secured irrevocable undertakings from WH Ireland shareholders to vote in favour of the deal, covering approximately 61.11% of WH Ireland’s existing issued share capital. This includes support from WH Ireland directors Phillip Wale and John Cusins, as well as other key shareholders.
Similarly, resolutions at Team’s extraordinary general meeting (EGM) are backed by irrevocable undertakings from shareholders representing approximately 37.54% of its share capital, including commitments from its own directors.
Strategic Rationale and Leadership Endorsement
The boards of both companies unanimously recommend the transaction, arguing that the combination will create a more robust and competitive entity. The enlarged group is expected to benefit from broader client reach, complementary regulatory permissions, and greater operational efficiency.
Mark Clubb, Executive Chair of Team, framed the deal as a strategic partnership rather than a simple takeover. “This transaction isn’t about handing over control – it’s about elevating it,” Clubb said. “We are inviting WH Ireland’s shareholders to join us not as sellers, but as strategic partners in a stronger, scalable platform… This is about moving from defence to opportunity – and winning as owners.”
Simon Moore, Chair of WH Ireland, echoed this sentiment, stating the all-share proposal represented a “better outcome for shareholders and clients than an outright sale of the wealth management division,” a strategy the company had previously considered. He highlighted the “strong level of support” as evidence of its attractiveness.
Team is being advised financially by H&P Advisory Limited and legally by Osborne Clarke LLP. WH Ireland is receiving financial advice from Shore Capital, which provided the independent opinion that the terms are “fair and reasonable” to the WH Ireland board, and legal advice from Squire Patton Boggs (UK) LLP.
The scheme document is expected to be sent to WH Ireland shareholders within 28 days of Tuesday’s announcement. The acquisition is currently expected to become effective during the first quarter of 2026, pending court and regulatory approvals.