Saltus, a private equity-backed wealth manager, is preparing for a visit to the United States as it explores potential sale talks, according to sources familiar with the matter.
Strategic Review Underway
The firm, which manages around £5 billion in assets, has been conducting a strategic review over the past few months. This review has included discussions with potential buyers and investors, both in the UK and internationally.
Saltus has engaged an investment bank to advise on the process. The US visit is expected to involve meetings with several American financial institutions and private equity firms that have expressed interest in acquiring the company or forming a partnership.
Background and Growth
Founded in 2015, Saltus has grown rapidly through a combination of organic expansion and acquisitions. The firm was backed by private equity firm Livingbridge in 2018, which took a minority stake. Since then, Saltus has completed multiple bolt-on acquisitions, increasing its assets under management significantly.
The wealth management sector has seen a wave of consolidation in recent years, driven by increasing regulatory costs and the need for scale. Saltus is considered an attractive target due to its strong growth trajectory and client base.
Potential Outcomes
While no final decision has been made, sources indicate that a sale or a significant equity injection is the most likely outcome. The US visit is a key part of the process, as American investors have shown a growing appetite for UK wealth managers.
Saltus declined to comment on the speculation. Livingbridge also did not respond to requests for comment.
The outcome of the strategic review is expected to be announced later this year.
