Wealth and investment manager W1M has completed its acquisition of Vermeer Partners after receiving regulatory approval.
The deal, for an undisclosed sum, adds £2bn in AUM from Vermeer to W1M.
The takeover is W1M’s first acquisition since Waverton and London & Capital’s merged in July 2024, rebranding to W1M in June 2025.
W1M has around £27bn in AUM, up from £18bn in June 2024, and net new asset growth of 7.5% over the last year.
Vermeer was founded in 2018 and serves a network of HNWs, intermediaries, charities and trusts.
Vermeer’s integration into W1M is under way with Vermeer staff expected to move to the W1M London office in the coming weeks.
Simon King, former Vermeer CEO, will continue at W1M in an advisory role during the integration of Vermeer with W1M.
Vermeer says the deal reinforces its commitment to high-net-worth and ultra-high-net-worth families and takes W1M to circa £27 billion in AUM, up from £18 billion in June 2024 when Waverton and London & Capital merged.
Guy McGlashan, CEO of W1M wealth and investment management, said: "Vermeer brings with them a track record in client service innovation and outstanding investment expertise. Above all, they share a deeply held conviction that it is our role as wealth and investment managers to provide dependable solutions to our clients’ financial challenges and objectives.”
Vermeer said the deal offered its clients access to W1M’s investment capability, financial advisory services, international expertise and broader client propositions.
Simon Melling, executive chairman of Vermeer, said: “We are delighted to be joining W1M’s exciting journey.”
W1M was formed from the merger of wealth manager Waverton with London & Capital to form a £19bn AUM wealth management business in 2024.
London & Capital was established in 1986 as a specialist wealth and asset manager working with private and institutional clients. Based in London, it had more than £6bn in AUM 130 employees. Many of London & Capital’s private clients were international.
Waverton Investment Management Limited was headquartered in London, with offices in Edinburgh and Glasgow and had more than £11bn in AUM and 175 employees. The group included Waverton Wealth Planning LLP and Waverton Investment Management Ltd.