Wilton announces IOMA Group acquisition agreement
Athol Street based Wilton has announced that it has agreed terms to acquire Isle of Man Assurance Limited, IOMA Horizons Limited and Isle of Man Insurance Management Limited, in a deal subject to Isle of Man FSA regulatory approval.
The IOMA companies are bespoke insurance and pension solution providers that have been at the forefront of the insurance market in the Isle of Man since 1971, currently employing 29 people and managing close to £500 million in assets.
Wilton is an independent professional services, investments and pensions firm incorporated in the Isle of Man with its registered office at Grosvenor House in Douglas and further offices in London’s Mayfair, Blackburn, Leicester, Dublin and Dubai, employing a total of 150 staff.
Announcing the deal, Wilton founder and managing partner, Tony Flanagan, stated: “The IOMA business is highly synergistic with Wilton and will become a key component of our wider financial services offering. Wilton and IOMA target similar markets and clients with complementary products and we are excited by IOMA’s potential as part of Wilton.”
In recent years, Wilton has acquired businesses including Greyfriars Asset Management, Guinness Mahon, Guardian Pensions and The Lifetime SIPP, making it an experienced and successful acquirer and integrator of regulated financial services businesses.
IOMA’s Executive Chairman, Robin Bigland, added: “Joining Wilton provides IOMA with a strong, stable, locally managed parent, securing the futures of IOMA’s staff here in Douglas and affording IOMA excellent growth opportunities as part of a bigger network, enabling IOMA to thrive into the future as it has throughout its 50 year history here in the Isle of Man.”
Wilton plans to retain and strengthen IOMA’s team with the addition of internationally experienced UK and Isle of Man based financial services and insurance/investment professionals.
With a wave of consolidation underway throughout the island’s financial services and insurance sector, Wilton’s commitment to the Isle of Man and its intention to invest in strengthening and growing IOMA would appear well aligned with the IOM FSA’s remit to maintain a healthy and competitive insurance sector, as part of a vibrant and growing island based and regulated financial services industry.
If you would like to find out more, please contact:
Paul Osbourn, Head of Corporate Finance – Wilton
T: +44 (0)1624 675610
You can reach more information about our latest Investments here.
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