Spearpoint Group, based in the Channel Islands, is the manager of the Arch cru cell companies which it took over from Arch Financial Products in December 2009. Arch cru funds were suspended in March 2009 and are currently being wound up by Spearpoint.
Brooks Macdonald said the firm would fit in with Brook Macdonald's growth strategy and give Brooks Macdonald access to the expanding international pensions market.
Brooks Macdonald will pay £23.1m for the firm, payable in a mix of cash and equity. Deferred consideration will be payable in cash in November 2014, expected to be up to £9m based on the firm's growth expectations for Spearpoint.
At the end of 2011, Spearpoint reported pre-tax profits of £3.9m on revenues of £11.4m. The combined group will have discretionary funds under management of £4.5bn, excluding advisory, property and third party administration assets.
Chris Macdonald, chief executive of Brooks Macdonald Group, said: "The acquisition of Spearpoint is a major step forward for the Group and captures an opportunity we have been seeking for a number of years. It adds scale, offshore and international capability together with the acquisition of a strong investment management and pensions team."John Davey, chief executive of Spearpoint, said: "We are delighted to be joining Brooks Macdonald Group. There is a strong fit in terms of investment management style and culture. Brooks Macdonald's proven marketing and distribution and well-established brand provide us with the tools to focus on growth."
The acquisition is set to be completed on 19 November.
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