Close Brothers Group has agreed to sell its execution services and securities business, Winterflood Securities, to Marex Group for approximately £103.9 million in cash.
The deal is expected to be completed in early 2026, subject to regulatory approval.
Close Brothers has been actively evaluating its portfolios to maximise returns and streamline its portfolio, and believes now is the right time to divest Winterflood.
The sale of Winterfloods will allow Close Brothers to focus on its core lending activities.
“Following a comprehensive strategic review, the Board is pleased to announce the sale of Winterflood to Marex,” said Mike Morgan, Close Brothers Group Chief Executive.
“This transaction marks another important step in simplifying the group to focus on our core specialist lending business, following the sale of CBAM in February 2025. 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.”