Marex Group acquires Winterflood Securities
01 December 2025 UK
Image: NAMPIX/stock.adobe.com
Marex Group, a global financial services platform, has announced that it has completed the acquisition of UK equity market maker Winterflood Securities.
Marex has further announced it has entered into a conditional agreement to sell Winterflood’s custody business — Winterflood Business Services (WBS) — to Epiris Fund III.
WBS provides outsourced dealing, settlement, and custody services to a diverse range of clients.
The firm says that the acquisition of Winterflood enhances Marex’s existing UK cash equities business.
Marex will retain the market making and related corporate broking activities of Winterflood, along with the associated employees and the Winterflood brand, while those employees that support WBS will transfer with the business.
Annual revenue for the retained Winterflood business is expected to be around US$75 million and the adjusted profit before tax margin is anticipated to improve to around 20 per cent over time.
The sale of WBS is expected to complete in the second quarter of 2026.
Ian Lowitt, Marex Group CEO, comments: “WBS is an excellent business, but it is outside the core services that we provide our clients. The gain on the sale of WBS when it completes will more than offset the premium paid for Winterflood and will generate a net gain on the acquisition.
“We are excited about the opportunity with Winterflood to create a leading equity market making franchise in the UK at a time when the market seems to be strengthening.”
The completion of the acquisition of WBS by Epiris is subject to certain regulatory and non-regulatory conditions.
Marex has further announced it has entered into a conditional agreement to sell Winterflood’s custody business — Winterflood Business Services (WBS) — to Epiris Fund III.
WBS provides outsourced dealing, settlement, and custody services to a diverse range of clients.
The firm says that the acquisition of Winterflood enhances Marex’s existing UK cash equities business.
Marex will retain the market making and related corporate broking activities of Winterflood, along with the associated employees and the Winterflood brand, while those employees that support WBS will transfer with the business.
Annual revenue for the retained Winterflood business is expected to be around US$75 million and the adjusted profit before tax margin is anticipated to improve to around 20 per cent over time.
The sale of WBS is expected to complete in the second quarter of 2026.
Ian Lowitt, Marex Group CEO, comments: “WBS is an excellent business, but it is outside the core services that we provide our clients. The gain on the sale of WBS when it completes will more than offset the premium paid for Winterflood and will generate a net gain on the acquisition.
“We are excited about the opportunity with Winterflood to create a leading equity market making franchise in the UK at a time when the market seems to be strengthening.”
The completion of the acquisition of WBS by Epiris is subject to certain regulatory and non-regulatory conditions.
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