It is understood that the Walker Crips brand will remain in use for the company's private client arm, however Luthman (pictured) and Bailey - both Citywire Selection picks - will be absorbed into the Liontrust framework.
Announcing the deal to shareholders, Liontrust said it had entered into a conditional share purchase agreement with Walker Crips Group to purchase the entire issued share capital of Walker Crips Asset Managers (WCAM) for a total consideration of £12.348 million.
'The proposed acquisition includes the highly rated fund management team at WCAM headed by Stephen Bailey and Jan Luthman,' the firm said.
'The team has an excellent pedigree and the funds they manage have strong and consistent records. Stephen Bailey and Jan Luthman will, on completion of the proposed acquisition, join Liontrust and will continue to manage the CF Walker Crips UK Growth Fund, CF Walker Crips Equity Income Fund, CF Walker Crips UK High Alpha Fund, CF UK Fund and two Institutional segregated accounts,' the firm added.
More to follow