Lloyds takes full control of Schroders Personal Wealth —
Lloyds Banking Group confirmed on 9 October that it will acquire Schroders’s remaining 49.9 percent stake in their joint venture Schroders Personal Wealth (SPW). In exchange, Schroders will receive Lloyds’s 19.1 percent holding in Cazenove Capital, with no cash consideration.
The move ends a six-year partnership and gives Lloyds sole ownership of an adviser overseeing around £17 billion in assets for 60,000 clients. SPW will be rebranded Lloyds Wealth, while Schroders retains a multi-year mandate to manage client assets.
For Lloyds, the deal simplifies governance and integrates advice with its broader retail and private-banking operations. For Schroders, it signals renewed focus on institutional and high-net-worth asset management.
Brown & Brown acquires All Medical Professionals —
Brown & Brown Inc’s European division has acquired All Medical Professionals Ltd (AMP), a Swindon-based broker serving medical, dental and hospital clients. AMP will continue trading under its existing brand within Brown & Brown’s Digital Division.
The transaction, for an undisclosed sum, extends Brown & Brown’s UK specialty insurance footprint following a series of niche acquisitions. By adding a sector-specific brokerage with strong professional links, the buyer strengthens its position in a highly regulated vertical where client trust and compliance expertise are key differentiators.
WSP completes £363 million acquisition of Ricardo —
WSP Global has completed its acquisition of UK-based engineering and environmental consultancy Ricardo plc in a transaction valuing the group at about £363 million. Shareholders received 430 pence per share, a 28 percent premium to Ricardo’s pre-announcement price.
Ricardo’s 2,700 employees across more than 20 countries will join WSP’s infrastructure and advisory network, expanding its capabilities in energy transition, water, and rail systems. The deal follows approvals in the UK, Australia and Saudi Arabia, completing a process first announced in June.
The transaction strengthens WSP’s global engineering portfolio and reinforces the UK’s role as a base for environmental and transport expertise. WSP said it would review non-core automotive and performance products divisions after integration.
US consolidator expands via London MGA acquisition —
A US insurance consolidator this week completed the purchase of a London-based Managing General Agent (MGA), furthering its expansion into the UK market. While the parties have not disclosed names or terms, the deal adds underwriting and distribution capacity in specialist commercial lines.
The transaction typifies foreign investment in the UK’s insurance ecosystem, where MGAs act as agile intermediaries between carriers and clients. Access to local regulatory permissions and underwriting talent remains a major attraction for overseas buyers seeking scale in European risk markets.
Ekco buys UK cyber services provider Solsoft —
Dublin-based cloud and cybersecurity group Ekco has acquired Solsoft, a UK managed IT and security services provider. Financial details were not released.
The deal, Ekco’s seventh in two years, expands its presence in the UK mid-market technology sector and adds enterprise-grade managed security capabilities. As AI-driven cyber risk heightens demand for specialist providers, the acquisition reflects growing consolidation among regional managed service companies serving regulated industries.
Bottom line —
M&A activity in the UK this week was dominated by transactions in regulated and technical sectors, where credibility and compliance underpin value. WSP’s takeover of Ricardo illustrates how international engineering groups are scaling through targeted expertise, while Lloyds’s buyout of Schroders Personal Wealth marks a push for simplicity and strategic control.
Insurance and technology services continued to attract cross-border interest, from Brown & Brown’s medical-sector expansion to Ekco’s cyber acquisition. Even smaller deals — such as the unnamed MGA purchase — signal that foreign investors still view the UK as a gateway to specialist skills and regulated markets.
The tone of dealmaking remains pragmatic. Buyers are consolidating for resilience rather than exuberance—seeking depth, compliance capability and integration in markets where trust, scale, and technical know-how have become the decisive advantages.
Key takeaways —
- Engineering consolidation — WSP’s £363 million purchase of Ricardo reinforces cross-border appetite for UK expertise in transport, energy and environmental advisory.
- Strategic control — Lloyds’s full takeover of Schroders Personal Wealth illustrates how banks are simplifying joint ventures to gain operational alignment.
- Sector-specific integration — Deals in insurance and cybersecurity highlight investor preference for vertical specialisation over broad diversification.
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