Following regulatory approval, Thesis will operate under the Sanlam UK brand.
"Thesis is a high quality business and an important strategic fit for Sanlam in the UK," said Jonathan Polin, Sanlam UK chief executive.
Stevens & Bolton LLP has advised the management team of Thesis Asset Management plc on its £47 million sale to newly incorporated Regit Bidco Limited.
Thesis Asset Management is a well-established provider of discretionary wealth management and financial services, and one of the largest independent managers of collective investment schemes in the UK.
"It was clear from the outset of our discussions with the Thesis management team that we were fully aligned in terms of investment philosophy, culture and an unwavering commitment to client service.
We have high ambitions to make Sanlam a leader in client-centric wealth management and our acquisition of Thesis is an important milestone in that journey.
"The entire Sanlam family is looking forward to welcoming our new colleagues and working together to meet the financial needs of our clients." David Tyerman, managing director of Thesis, added: “Sanlam is a name synonymous with innovation and high quality service meaning it is an excellent fit for our business and a natural home for our clients.
During our discussions with Sanlam, we were impressed with their passion for delivering clients’ investment goals and their commitment to providing the personalised service our clients rightly expect." Sanlam UK is part of the international financial services group Sanlam Ltd.
I would recommend Stevens & Bolton to any other management team looking at private equity investment.”The Stevens & Bolton team consisted of corporate partner Jenny Robertson, Oscar Horwich (corporate senior associate), Emma Leahey (corporate associate), Kate Schmit (tax partner), Lloyd Davey (employment partner) and Gabrielle Holgate (pensions partner).
Sanlam UK has acquired UK asset manager Thesis in a “milestone” deal, which will add £1.2bn to its assets under management (AUM).