Oberon Investments has agreed to acquire WH Ireland’s wealth management business for £1m, subject to shareholder approval.

The transaction will see approximately £850m of client assets under administration (AUA) transfer to Oberon on completion.

WH Ireland intends to wind down following completion of the deal by way of a liquidation and to return any remaining distributable reserves to shareholders once all liabilities, transaction costs and wind-down expenses have been settled, and plans to delist from the Alternative Investment Market.

The struggling wealth manager sold its capital markets business last year, shifting its focus to its wealth management arm.

However, its wealth management business continued to struggle, as market declines and the resignation of key financial planners led to asset management losses of £1bn at the end of the 2025 financial year.

Group revenue for the year fell to £13.2m, while the group also expected to report a loss of around £9.2m for FY 2025.

In a statement, WH Ireland said the business continued to be loss-making, despite further cost-cutting measures, and would require “substantial investment” to achieve sustainable profitability.

The board therefore believed the transaction with Oberon represented the best available outcome for stakeholders, and the only other viable alternative would be to wind down if the shareholders did not vote in favour of the acquisition.

Oberon’s conditional asset purchase agreement (APA) for the business facilitates the continuity of service and support for WH Ireland’s clients and employees during the integration period.

Offices in Manchester and Poole will be added to Oberon’s existing London headquarters and back office in Basildon.

The transaction is expected to complete in October 2025 if all conditions are met in a ‘timely manner’.

“This agreement marks a positive and natural development for Oberon,” commented Oberon CEO, Simon McGivern.

“We have built a strong and sustainable base as a full-service boutique, and welcoming WH Ireland’s clients and client teams to our business and culture further strengthens that foundation.

“Clients can be reassured that they will continue working with the same trusted advisers, now supported by the broader resources and infrastructure of the Oberon Group.

“At the same time, our new colleagues from WH Ireland will be joining a business that is committed to growth while remaining personal, agile, and client focused.

“With offices in Manchester and Poole joining our London base, Oberon will now have a stronger national footprint and an even deeper pool of expertise to support clients across the UK. We are excited about the future together.”

WH Ireland non-executive chair, Simon Moore, added: "The sale of WH Ireland Wealth Management is, in the board's view, the most appropriate outcome for the business and its stakeholders.

"Following the disposal of its operating businesses, the company proposes to delist from AIM and intends to implement a wind-down of the group via a liquidation, with any resulting distributable reserves being returned to shareholders at its conclusion."

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