M&A Deal Summary

Barclays Acquires Gerrard Management Services

On October 27, 2003, Barclays acquired financial services company Gerrard Management Services from Old Mutual for 210M GBP

Acquisition Highlights
  • This is Barclays’ 1st transaction in the Financial Services sector.
  • This is Barclays’ 2nd largest (disclosed) transaction.
  • This is Barclays’ 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2003-10-27
Target Gerrard Management Services
Sector Financial Services
Buyer(s) Barclays
Sellers(s) Old Mutual
Deal Type Divestiture
Deal Value 210M GBP

Target

Gerrard Management Services

London, United Kingdom
Gerrard Management Services Ltd. is a major stockbrokers with £12.5 billion of funds under management as at 30 September, 2003.

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Buyer(S) 1

Buyer

Barclays

London, United Kingdom
Category Company
Founded 1690
Sector Financial Services
Employees92,400
Revenue 25.4B GBP (2023)
DESCRIPTION
Barclays branch in Cannes, France.
Barclays branch in Cannes, France.

Barclays is a financial services company that offers consumer and business lending, insurance, money transmission, credit, and financial advisory services. Barclays was founded in 1690 and is based in London, England.

DEAL STATS #
Overall 1 of 4
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 3
Country (United Kingdom) 1 of 3
Year (2003) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1988-01-16 Barclay s Bank of California

California, United States

Barclay's Bank of California consists of 50 branches and is a unit of Barclay's Bank Plc.

Sell $125M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-01 Gresham Insurance

London, United Kingdom

Gresham Insurance Co. Ltd. is a provider of general insurance products. The company is based in London, the United Kingdom.

Buy £85M

Seller(S) 1

SELLER

Old Mutual

Pinelands, United Kingdom
Category Company
Founded 1845
Sector Financial Services
Revenue 13.6B GBP (2015)
DESCRIPTION

Old Mutual Ltd. is an international financial services company with expanding operations in life assurance, asset management, banking, and general insuarnce. Old Mutual was formed in 1845 and is based in Pinelands, South Africa.

DEAL STATS #
Overall 4 of 8
Sector (Financial Services) 4 of 6
Type (Divestiture) 4 of 8
Country (United Kingdom) 3 of 4
Year (2003) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-09 Old Mutual

Hamilton, Bermuda

Old Mutual (Bermuda) Ltd. is a provider of insurance and investment products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-15 Dwight Asset Management

Burlington, Vermont, United States

Dwight Asset Management is a stable value money manager. Dwight Asset Management is based in Burlington, Vermont.

Sell -
Mergr

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