Created Date:
16 February 2021

Carey Olsen advises Epiris and James Hay Holdings on Nucleus Financial Group acquisition

Carey Olsen's corporate team in Jersey has advised Epiris and its portfolio company James Hay Holdings (James Hay) on the recommended cash offer by James Hay for investment platform Nucleus Financial Group plc (Nucleus).

The acquisition, which values the entire issued ordinary share capital of Nucleus at approximately £145 million, will see James Hay, a market leading provider of self-invested personal pensions, combine with Nucleus to form one of the UK's largest independent adviser platforms, with around £45bn of assets under administration from almost 160,000 investors. 

Epiris Fund II (Fund II) has owned James Hay since 2019 when it bought the business as part of its acquisition of IFG Group plc.

Working alongside onshore counsel Macfarlanes, the Carey Olsen team advising Epiris and James Hay on all Jersey-related corporate and regulatory aspects of the acquisition comprised partners James Mulholland and Guy Coltman, counsel David Allen and senior associate Nienke MalanPartner Kate Andrews advised on the financing aspects.

James said: "Having initially advised Epiris on the launch of Fund II we are delighted to have supported the firm once again on its latest acquisition and the next exciting chapter in the growth of the James Hay business."