Marex Group plc Set to Acquire UK Equity Market Maker Winterflood Securities for £103.9m
Marex Group plc (‘Marex’ or the ‘Group’; NASDAQ: MRX), a diversified global financial services platform, has announced it has reached an agreement to acquire Winterflood Securities (Winterflood), a prominent UK equity market maker, from Close Brothers Group plc (Close Brothers). The deal is valued at approximately £103.9 million in cash, including a £15 million premium.
Winterflood stands out as one of the UK’s foremost equity market makers, providing execution services to more than 400 institutional clients. The firm consistently ranks among the top three market counterparties, holding an estimated 15% market share by trading volume on the London Stock Exchange. Winterflood’s strong position is supported by its proprietary technology platform, which underpins its well-established client connectivity.
The acquisition is expected to enhance Marex’s existing UK cash equities business, consistent with its strategy to bring new clients and new capabilities onto its platform and diversify earnings. It is also expected to add a substantial distribution offering servicing the UK institutional community, in particular asset and wealth management companies, with the potential to deepen these relationships by offering access to a broader range of Marex’s products from across its platform.
Winterflood also operates Winterflood Business Services Division which provides outsourced dealing, settlement and custody services to a diverse range of clients, including large institutions, investment platforms, wealth managers, and retail aggregators.
The deal is subject to regulatory approval and is expected to close in early 2026.
Ian Lowitt, Marex Group Chief Executive Officer, commented:
“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. This deal is consistent with our strict financial criteria and we see opportunities to materially improve its profitability. 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.”
Bradley Dyer, CEO of Winterflood Securities, commented:
“We’re delighted to become part of Marex, which is a high-growth, global financial services company with a strong balance sheet. Our clients will continue to be served by the same team, while also benefitting from the backing of a large and growing company as well as access to a broader range of products and services from Marex. We’re excited to be joining a fast-paced organisation where our teams can thrive.”
Mike Morgan, Close Brothers Group Chief Executive, commented:
“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.”