TRANSACTION SUMMARY

On 6 February 2013, Svenska Handelsbanken announced that it will acquire Heartwood Wealth Group for an undisclosed amount. As a result of the transaction, Heartwood will become a wholly-owned subsidiary of Handelsbanken, forming the foundation of its UK wealth management offering. The acquisition of Heartwood will enable Handelsbanken to meet the growing demand for wealth management services from its clients, whilst Heartwood will still retain the ethos that makes it stand out to its clients. Due to an excellent business fit and mutual growth opportunities, the deal is expected to create new jobs and broaden career opportunities.

HEARTWOOD WEALTH GROUP

Heartwood was founded 25 years ago and has grown steadily and organically, currently with over £1.5 billion of funds under management (as at 31st January 2013). From its offices in London and Tunbridge Wells, Heartwood provides wealth management services for private clients, including discretionary investment management, financial planning, tax-efficient wealth structuring, tax advice, retirement planning and pensions advice. In addition, Heartwood Investment Management provides investment management services for financial advisers, charities and professional advisers.

SVENSKA HANDELSBANKEN

Handelsbanken was founded 141 years ago in Sweden and now has over 750 branches and more than 11,000 employees in 24 countries. Having first established a presence in the UK in 1982, today the bank manages a decentralised network of 147 branches across the country, with further expansion ongoing. Handelsbanken specialises in providing highly personalised and competitive banking services to both businesses and individuals and has been judged the most cost-effective universal bank in Europe for many years.

ROLE

SHP acted as financial adviser to Heartwood.