PM Carlton Corporate Finance Bank of Scotland - Syncap
PM Carlton Corporate Finance Bank of Scotland - Syncap
PM Carlton Corporate Finance Bank of Scotland - Syncap
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11th September 2006<br />
<strong>Bank</strong> <strong>of</strong> <strong>Scotland</strong> agrees investment in <strong>Carlton</strong> Financial Group<br />
<strong>Bank</strong> <strong>of</strong> <strong>Scotland</strong>, part <strong>of</strong> the HBOS group, today announces that it has acquired a<br />
9.9 percent shareholding in the <strong>Carlton</strong> Financial Group (“CFG”), the independent<br />
private merchant banking group based in London.<br />
Under the terms <strong>of</strong> this agreement, <strong>Bank</strong> <strong>of</strong> <strong>Scotland</strong> and <strong>Carlton</strong> will work<br />
together to develop opportunities throughout the <strong>Carlton</strong> network for HBOS to<br />
apply its significant financial strength to funding property and industrial<br />
transactions. HBOS joins an impressive team at <strong>Carlton</strong> whose shareholders<br />
include Andrew Taee, George Magan and Sir Francis Mackay.<br />
Founded in 2004, <strong>Carlton</strong> Financial Group consists <strong>of</strong> two complementary<br />
businesses: <strong>Carlton</strong> <strong>Corporate</strong> <strong>Finance</strong>, an independent corporate finance and<br />
advisory firm, and <strong>Carlton</strong> Capital Partners LLP, which provides investment<br />
management advisory services to private clients and investment institutions.<br />
Peter Cummings, Chief Executive <strong>of</strong> <strong>Corporate</strong> <strong>Bank</strong>ing at HBOS said:<br />
“<strong>Carlton</strong> has reached an exciting phase <strong>of</strong> its development and I am particularly<br />
pleased by this investment opportunity. Since its inception in 2004, the business<br />
has brought together a group <strong>of</strong> highly experienced, senior businessmen and<br />
banking pr<strong>of</strong>essionals as well as building an impressive international network.<br />
The firm’s client relationships continue to grow as organisations and individuals<br />
are attracted by <strong>Carlton</strong>’s independence, track record and level <strong>of</strong> expertise.”<br />
Andrew Taee, Group Chief Executive <strong>of</strong> <strong>Carlton</strong> Financial Group commented:<br />
“Attracting the support <strong>of</strong> HBOS is a great endorsement <strong>of</strong> our strategy and<br />
achievements to date in building an independent, international merchant banking<br />
business. As the Group continues to expand and develop, having the backing <strong>of</strong><br />
HBOS as an equity investor will help us achieve our ambition.”<br />
Enquiries:<br />
<strong>Carlton</strong> Financial Group<br />
Andrew Taee<br />
Tel: +44 (0) 207 355 2211<br />
<strong>Bank</strong> <strong>of</strong> <strong>Scotland</strong><br />
Mark Elliott<br />
Tel: +44 (0)131 243 5572<br />
Mob: +44 (0)7810 055 810<br />
Millbrook Partnership<br />
Tim Grey<br />
Tel: +44 (0) 207 520 9455<br />
Mob: +44 (0) 7796 072298
Notes to editors:<br />
<strong>Carlton</strong> <strong>Corporate</strong> <strong>Finance</strong> is an independent corporate finance advisory<br />
business actively involved in: merger & acquisition advisory (sell-side and buyside)<br />
; corporate strategy advisory; private placement <strong>of</strong> debt and equity . The<br />
firm recently acted for Rentokil Initial plc in their £80m acquisition <strong>of</strong> J.C. Ehrlich<br />
Co. Inc, a leading US pest control company.<br />
<strong>Carlton</strong> Capital Partners LLP is an independent investment management firm,<br />
managing tailored absolute and total return portfolios for institutions, ultra high<br />
net worth individuals, charities and foundations. The firm manages portfolios that<br />
are invested globally and constructed by combining dynamic asset allocation with<br />
<strong>Carlton</strong>’s selection <strong>of</strong> the very best portfolio managers.<br />
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