Today’s announcement (25 March 2019)

Alastair Conway, CEO at James Hay:

“We are pleased with our results, published today by IFG. Achieving double-digit profits against a challenging backdrop for the whole industry is a credit to the hard work of everyone in James Hay. 2018 was a year where we continued to develop and deliver our strategy, achieved a strong core profit, continued our top line growth and sustained investment back into the business. Our focus remains on working with advisers to help investors successfully navigate the second half of their financial lives.

The announcement released via the Stock Exchange this morning, announced that Epiris GP Limited and IFG Group plc have reached agreement on the terms of a recommended cash offer for the Group.

Epiris is an independent private equity firm with more than 25 years’ experience. They invest in opportunities to transform and grow businesses in partnership with exceptional management teams.

We welcome this exciting news and see it as a positive development in James Hay’s journey. We are looking forward to working with Epiris to develop and grow our business through delivering the highest standards of service to advisers and their clients.

James Hay has been in the very fortunate position to have a supportive parent which has allowed our business to develop over the past nine years. However, we equally recognise that a change of ownership creates further opportunities for the business to build on this success and achieve its long-term ambitions.

The management team is fully committed to working with Epiris to continue to deliver our strategy and ensure our clients and people remain the central focus of everything we do.”

You can read a statement from Epiris here.