Tavistock acquires Lifetime Financial Management Intermediaries

Lifetime is a provider of financial wellbeing solutions for employees, offering financial advice and planning services. Travistock set out that it will be acquiring 76.59% of Lifetime's ordinary shares. Ian Dickinson, CEO and founder, Lifetime, will remain as 23.41% shareholder. The acquisition is for an initial cash consideration of £3.7m, plus £2.25m in cash for both debt reduction and strategic leadership incentives. The deal includes a put and call option arrangement in place, enabling Tavistock to acquire Dickinson's shares later based on a range of multiples of Lifetime's EBI...