Close Brothers Group has agreed to sell its execution services and securities business Winterflood Securities to Marex Group.

The deal is for a consideration amount of approximately £103.9m, to be paid in cash.

Close Brothers said the transaction was aligned with its strategic priorities to simplify the portfolio, improve operational efficiency, and drive sustainable growth.

As previously announced, Close Brothers is actively evaluating its portfolios, seeking to ensure that returns are maximised.

The firm therefore believed that it was the right time to sell its Winterflood business and focus on its core lending activities.

The transaction is expected to complete in early 2026, subject to customary regulatory approvals.

“Following a comprehensive strategic review, the board is pleased to announce the sale of Winterflood to Marex,” commented Close Brothers Group chief executive, Mike Morgan.

“This transaction marks another important step in simplifying the group to focus on our core specialist lending business, following the sale of CBAM in February 2025.

“We see Marex as an excellent steward for the business going forward, we thank the Winterflood team for their hard work and commitment over the years, and wish them every success in their next chapter with Marex.”

Marex chief executive officer, Ian Lowitt, added: “This acquisition gives us an opportunity to transform our existing equity market making business into a leading franchise, utilising the technology and connectivity of what is the leading brand in this market.

“We believe we can gain economies from operating at scale and also benefit from Winterflood’s great technology and strong client relationships, which will enable us to introduce additional products and services from across our platform to a new set of clients.”

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