Jersey-based wealth and asset manager Team plc has agreed a £12.7m all-share deal with the board of WH Ireland to acquire the UK-based advisory firm.

The acquisition, which is subject to shareholder approval, will create an enlarged firm with regulated operations in Jersey, the UK, and selected international markets, and will be headquartered in Jersey.

The group will provide services to private, intermediary, and institutional clients through discretionary investment management, financial planning, and advisory services.

Under the terms of the deal, WH Ireland shareholders will be entitled to receive 0.195 new Team shares for each WH Ireland share.

Once the acquisition is completed, WH Ireland shareholders will hold approximately 43.5 per cent of the enlarged share capital, while Team shareholders will hold around 56.5 per cent.

The acquisition values each WH Ireland share at approximately 5.4 pence and WH Ireland’s entire issued share capital at around £12.7m, and is to be implemented through a court-sanctioned scheme of arrangement.

Completion of the transaction is reliant on the scheme being voted through and the passing of a special resolution at the WH Ireland general meeting, as well as the Team resolution to be passed at the Team EGM.

The WH Ireland directors, who have been advised by Shore Capital on the financial terms of the acquisition, said they consider the terms of the deal to be fair and reasonable.

They therefore intend to unanimously recommend that WH Ireland shareholders vote in favour of the scheme at the court meeting and the special resolution at the WH Ireland general meeting.

The Team directors also intend to unanimously recommend that Team shareholders vote in favour of the Team resolution at the Team EGM.

"This transaction isn't about handing over control - it's about elevating it,” commented Team executive chair, Mark Clubb.

“We are inviting WH Ireland's shareholders to join us not as sellers, but as strategic partners in a stronger, scalable platform.

“Together, we preserve what has been built, unlock liquidity, and create a future with scale, influence, and real growth. This is about moving from defence to opportunity - and winning as owners."

WH Ireland chair, Simon Moore, added: "We are pleased to have agreed the transaction with Team, which represents an attractive opportunity for our shareholders to participate in a complementary, stronger, and scalable platform.

“We believe that the all-share proposal represents a better outcome for shareholders and clients than an outright sale of the wealth management division, as had been previously envisaged, and as now evidenced by the strong level of support announced today."

Team first entered into discussions with WH Ireland regarding a possible offer for the firm earlier this month (November).

WH Ireland had previously accepted a £1m offer for its wealth management business from Oberon Investments, although this was subsequently rejected by its shareholders.

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