Marex agrees to acquire Winterflood Securities at a cost of £103.9 million
Marex Group Acquires Winterflood Securities for £103.9 Million
Financial services company Marex Group has agreed to acquire Winterflood Securities, a leading UK equity market maker, from Close Brothers Group for approximately £103.9 million in cash. The deal, which is subject to regulatory approval and expected to close in early 2026, represents a £15 million premium and is expected to significantly strengthen Marex's UK cash equities operations.
Winterflood Securities, with its market share of around 15% by volume on the London Stock Exchange, provides execution services to over 400 institutional clients. The firm also operates Winterflood Business Services, offering outsourced dealing, settlement, and custody services to large institutions, investment platforms, wealth managers, and retail aggregators.
For Marex Group, the acquisition aims to enhance its existing UK cash equities business, transform its equity market-making business into a leading franchise, and diversify its earnings. The deal will also strengthen distribution services, particularly to UK institutional investors such as asset managers and wealth managers.
Marex Group CEO, Ian Lowitt, stated that the acquisition will provide an opportunity to transform their existing equity market-making business into a leading franchise. He added that Winterflood's advanced technology, market position, and client relationships will be instrumental in achieving this goal.
The CEO of Winterflood Securities, Bradley Dyer, expressed his delight at the company becoming part of Marex, a high-growth, global financial services company with a strong balance sheet. He believes that the acquisition will provide Winterflood with the resources to grow and expand its services.
Close Brothers Group is divesting Winterflood to focus on its core lending business and simplify its portfolio. Marex will pay cash to Close Brothers for the acquisition.
The acquisition does not include Winterflood Business Services, which operates separately. This acquisition represents a strategic effort by Marex Group to become a more prominent participant in the UK institutional equity market, leveraging Winterflood’s market share, technology, and client base to boost its competitive position and product distribution across the UK institutional sector. It also signals a continued focus on consolidation and specialization within UK financial services, as Close Brothers exits this line of business to concentrate on lending.
- Marex Group aims to transform its equity market-making business into a leading franchise with the acquisition of Winterflood Securities, leveraging the latter's advanced AI technology, market position, and client relationships in wealth management and finance, specifically within the UK institutional equity market.
- Winterflood Securities, with its significant market share on the London Stock Exchange, offers outsourced dealing, settlement, and custody services to a variety of businesses, including investment platforms, wealth managers, and retail aggregators, and their acquisition by Marex Group will enable them to grow and expand these services.
- As part of its strategic consolidation and specialization within UK financial services, Close Brothers Group is divesting Winterflood Securities and focusing on its core lending business, while Marex Group, a high-growth global financial services company, will pay cash for the acquisition to strengthen its UK cash equities operations, enhancing its existing business in investing and wealth management.
