Disposal

Caledonia Investments PLC

18 January 2024

 

CALEDONIA INVESTMENTS PLC

CALEDONIA PRIVATE CAPITAL COMPLETES ITS DIVESTMENT OF 7IM

On 5 September 2023 Caledonia Investments plc ("Caledonia") announced (under RNS number 3620L) that it had agreed terms for the sale of its majority stake in Seven Investment Management ("7IM"), a vertically integrated retail wealth management business, to Ontario Teachers' Pension Plan Board ("Ontario Teachers"), a global investor with approximately C$250 billion in net assets. 

The transaction was subject to change in control approval by the Financial Conduct Authority and was expected to complete in late 2023 or early 2024. Caledonia is pleased to announce that this approval has now been received and accordingly the transaction has been completed. Caledonia's final cash proceeds were £256m.

18 January 2024

For further information contact:

Company contacts
Caledonia Investments plc	[phone]
Mat Masters Chief Executive Officer Rob Memmott Chief Financial Officer Tom Leader Head of Private Capital
Media contacts
Teneo	[phone]
Tom Murray Robert Yates [e-mail]

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Notes for editors:

Caledonia Investments plc

Caledonia is a self-managed investment trust company. Our aim is to grow net assets and dividends paid to shareholders, whilst managing risk to avoid the permanent loss of capital. This is achieved by investing in proven, well-managed businesses that combine long-term growth characteristics with an ability to deliver increasing levels of income. We hold investments in both listed and private markets, covering a range of sectors and, particularly through our listed and fund investments, have a global reach.

In the Private Capital arena, Caledonia typically seeks to invest £50m to £150m in private companies, either on a majority or minority basis, where Caledonia provides enduring capital and support to investee company management teams over the longer term.  The Caledonia Private Capital portfolio includes Stonehage Fleming (a multi-family office providing fiduciary and investment management services to UHNW clients and families), Cobehold (the holding company of Cobepa, a European unquoted investment house), Cooke Optics (a UK manufacturer of premium cinematography lenses), Liberation Group (a pub, restaurant and drinks business with a pub estate stretching from Southwest London to Bristol and the Channel Islands) and AIR-serv Europe (a leading designer and manufacturer of air, vacuum and jet wash machines provided as turn-key solutions to fuel station forecourt operators).

For additional information on Caledonia Private Capital, please visit www.caledoniaprivatecapital.com and for Caledonia please visit www.caledonia.com.

7IM

7IM provides wealth management, asset management and platform services to over 9,000 retail investors and over 2,000 intermediaries in the UK. At the core of its business is a proprietary investment platform which provides award-winning service and functionality to financial advisers, alongside a multi-asset investment management function that aims to provide low-volatility, low-cost returns utilising both active and passive strategies. When Caledonia acquired the business in September 2015, 7IM had assets under management (AUM) of £9.5 billion. Today, 7IM has circa £21 billion AUM.

For additional information on 7IM, please visit www.7im.co.uk.

Neither the contents of Caledonia's nor 7IM's websites, nor the contents of any website accessible from hyperlinks on these websites (or any other website) is incorporated into, or forms part of, this announcement.

 

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