Alchemy to sell Seymour Pierce stake
Alchemy Partners will sell their 33.6% stake in brokerage firm Seymour Pierce to the company's employee benefit trust.
Alchemy backed the £7.35m MBO of Pierce in 2003 with £8.3m, including working capital funding. The value of the management buy-back has not yet been disclosed, but the company will now be almost entirely owned by its management and staff.
Seymour Pierce faced difficult times in 2009, with a £3m loss. However, it has recorded a £4.5m profit for the first half of 2010.
The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.
If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com
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