Team has agreed to acquire the wealth management firm, WH Ireland, for £12.7m.

The combined firm, which will be headquartered in Jersey, will benefit from more than £2.1bn in assets under management.

Team said the deal is set to create a "diversified, well-governed" wealth and asset management group with regulated operations in Jersey, the UK and selected international markets.

The Jersey-based independent asset manager believes that WH Ireland’s strong presence in the UK will add immediate scale and critical mass to its wealth management segment.

Under the terms of the acquisition, each WH Ireland shareholder will receive 0.195 new Team shares and will own approximately 43.5% of the combined group.

This offer represents a 257.5% premium on the wealth management firm’s closing share price of 1.5 pence on 12 November.

Executive chair at Team, Mark Clubb, said: "This transaction isn't about handing over control - it's about elevating it. We are inviting WH Ireland's shareholders to join us not as sellers, but as strategic partners in a stronger, scalable platform. Together, we preserve what has been built, unlock liquidity, and create a future with scale, influence, and real growth. This is about moving from defence to opportunity - and winning as owners."

Chair at WH Ireland, Simon Moore, added: "We are pleased to have agreed the transaction with Team, which represents an attractive opportunity for our shareholders to participate in a complementary, stronger, and scalable platform. We believe that the all-share proposal represents a better outcome for shareholders and clients than an outright sale of the wealth management division, as had been previously envisaged, and as now evidenced by the strong level of support announced today."

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