E registrar and business services group Equiniti has bought the corporate and employee services division of NatWest Stockbrokers.
Equiniti declined to disclose the value of the deal, which comes a week after City A.M. reported that the private equity-backed firm was looking to make more acquisitions.
Wayne Story, chief executive, yesterday said the deal brings “a wealth of experience that will complement Equiniti’s existing operations”. Stuart Welch, chief executive of NatWest Stockbrokers, said the division was a “niche” part of his firm. The specialist corporate share plan stockbroking team provides dealing services.
Equiniti reported annual revenues of nearly £287m, according to its latest accounts.