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On 25 March 2025, Tufton Investment Management Ltd, the Investment Manager for Tufton Assets Limited, announced the completion of a management-led buyout. Senior management acquired all equity interests in the Investment Manager previously held by a European Family Office, increasing their ownership stake and control. The Investment Manager oversees over $1.5 billion in mandated assets, including Tufton Assets Limited, which had a NAV of $428.9 million as of 31 December 2024.
| Date | 25 Mar 2025 |
| Time | 07:00:02 |
| Category | Miscellaneous |
| ID | 9308B |
25 March 2025
Tufton Assets Limited
("Tufton Assets" or the "Company")
Investment Manager Completes Management Buyout
The Company notes that its Investment Manager, Tufton Investment Management Ltd (the "Investment Manager"), has announced the completion of a management-led buyout of all the equity interests in the Investment Manager previously held by a European Family Office. This carefully planned buyout has greatly increased the ownership stake of, and control by, senior management in line with the leadership strategy developed over the past few years.
The Investment Manager has kept the Board of the Company fully briefed on all relevant elements of the management-led buyout. The Board is reassured that there will be no changes to the team currently providing services to the Company and that service levels will be unaffected by the transaction. It views positively the fact that the Investment Manager will be fully independently managed and will continue to operate under its current brand and with the same team. The Investment Manager has $1.5bn+ of mandated assets across a number of funds, including the Company which, as at 31 December 2024, had a NAV of $428.9m.
Andrew Hampson (Tufton Group CEO) and Nicolas Tirogalas (Tufton Group CIO and President) said, "We are very pleased and excited with the outcome of the management-led buyout. This is the result of a carefully planned process that leaves the existing business in its current, healthy form and further strengthens and aligns management incentives with future growth opportunities. We also wish to thank the outgoing shareholder for their cooperation over the past few years and for their support in completing this transaction."
For further information, please contact:
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Tufton Investment Management Ltd (Investment Manager) Andrew Hampson Nicolas Tirogalas |
+44 (0) 20 7518 6700 |
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Singer Capital Markets James Maxwell, Alex Bond, Jalini Kalaravy (Corporate Finance) Alan Geeves, James Waterlow, Sam Greatrex (Sales) |
+44 (0) 20 7496 3000 |
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Hudnall Capital LLP Andrew Cade |
+44 (0) 20 7520 9085 |
About the Company
Tufton Assets Limited invests in a diversified portfolio of secondhand commercial sea-going vessels with the objective of delivering strong cash flow and capital gains to investors. The Company's investment manager is Tufton Investment Management Ltd. The Company has raised a total of approximately $316.5m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange on 20 December 2017 and subsequent capital raises.