Private equity takes RM Williams stake
Iconic Australian brand, R.M.Williams has received an investment infusion from private equity firm, L Capital Asia.
The investment was announced this week with former News Limited senior executive, Ken Cowley who is both owner and chairman of the brand retaining a majority share, with L Capital Asia acquiring 49.9 per cent of the company.
L Capital Asia is described as being a private equity fund sponsored by LVMH Moët Hennessy - Louis Vuitton.
The announcement attaching to the transaction said L Capital Asia had looked at the business performance over the past 5 years and appreciated the opportunity that the R.M.Williams brand has to grow even further with the support of a like-minded investor.
Cowley and his family assumed sole ownership and privatised R.M.Williams in October 2003.
R.M.Williams and L Capital Asia will complete the formal transaction by mid-May, this year, at which time new board members will be announced.
Recommended for you
Insignia Financial has issued a statement to the ASX regarding a potential bid from a third global private equity business to acquire the firm.
More than 30 advisers fell off the FAR during the Christmas and New Year period, according to Wealth Data, with half of these coming from licensee giant Entireti.
With next-generation heirs unlikely to retain their family’s financial advisers after receiving an inheritance, Capgemini has explored how firms can work with younger generations to maintain a relationship.
The use of technology and data analytics will be a way for advice firms to grow in 2025, according to Adviser Ratings, with those who are using it successfully reporting 10 per cent higher profit margins.
