Onside Issue 6 - 20

Taking the lead
on Ludlow MBO
In June 2017 the Seneca Corporate Finance team advised the shareholders
and management team of Ludlow Wealth Management Group in a private
equity funded management buyout (MBO). Mobeus Equity Partners
provided £8 million to back the MBO, which enabled founder Sid Ludlow to
exit the business.

Southport-based Ludlow Wealth Management
Group is an independent financial planning
business which between 2008 and 2013 integrated
12 acquisitions, establishing a network of five
regional offices and now has more than £850
million of assets under management. Ludlow was
founded in 1993 by Sid Ludlow, who has retired
from day-to-day involvement in the business as
part of this transaction while retaining a minority
shareholding. Phil Young, formerly founding
Partner and Managing Director of Threesixty
Services, has joined the board as Chairman.
The Seneca Corporate Finance team engaged
with the Ludlow shareholders and management
team early in 2017 in order to assess potential
exit options. The team were able to generate a
significant amount of interest in Ludlow from
other operators within the financial planning and
wealth management industry. Over the course

of the process it became apparent that the
shareholders all had slightly differing objectives,
which were not being met by any of the proposals
from trade buyers. After exploring the possibility
of a private equity transaction with Mobeus, it was
agreed that this was the option that would best
suit the objectives of all the shareholders.
With the support of Mobeus and under the
leadership of Managing Director Ian Hemingway and
Business Development Director David Hardman,
the group's strategy is to continue to build its
regional focus and assets under management both
organically and through acquisitions.
Gordon Lane, Head of Corporate Finance at
Seneca Partners said: "With Ian and David at the
reins, Ludlow as a business will continue to grow
and the MBO will ensure a continued high level of
service for their clients. Beginning with Sid as the



Table of Contents for the Digital Edition of Onside Issue 6

Contents
Onside Issue 6 - Cover1
Onside Issue 6 - Cover2
Onside Issue 6 - Contents
Onside Issue 6 - 4
Onside Issue 6 - 5
Onside Issue 6 - 6
Onside Issue 6 - 7
Onside Issue 6 - 8
Onside Issue 6 - 9
Onside Issue 6 - 10
Onside Issue 6 - 11
Onside Issue 6 - 12
Onside Issue 6 - 13
Onside Issue 6 - 14
Onside Issue 6 - 15
Onside Issue 6 - 16
Onside Issue 6 - 17
Onside Issue 6 - 18
Onside Issue 6 - 19
Onside Issue 6 - 20
Onside Issue 6 - 21
Onside Issue 6 - 22
Onside Issue 6 - 23
Onside Issue 6 - 24
Onside Issue 6 - 25
Onside Issue 6 - 26
Onside Issue 6 - 27
Onside Issue 6 - 28
Onside Issue 6 - 29
Onside Issue 6 - 30
Onside Issue 6 - 31
Onside Issue 6 - 32
Onside Issue 6 - 33
Onside Issue 6 - 34
Onside Issue 6 - 35
Onside Issue 6 - 36
Onside Issue 6 - 37
Onside Issue 6 - 38
Onside Issue 6 - 39
Onside Issue 6 - 40
Onside Issue 6 - 41
Onside Issue 6 - 42
Onside Issue 6 - 43
Onside Issue 6 - 44
Onside Issue 6 - 45
Onside Issue 6 - 46
Onside Issue 6 - Cover3
Onside Issue 6 - Cover4
https://www.nxtbookmedia.com