Marex Group completes Winterflood acquisition, agrees to sell custody business

Marex Group (MRX) completed the acquisition of UK equity market maker Winterflood Securities. Marex further announces it has entered into a conditional agreement to sell Winterflood’s custody business, Winterflood Business Services, to Epiris Fund III, advised by Epiris, a UK private equity firm. WBS provides outsourced dealing, settlement and custody services to a diverse range of clients. The acquisition of Winterflood enhances Marex’s existing UK cash equities business, consistent with its strategy to bring new clients and new capabilities onto its platform and diversify earnings. 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 be around $75m and the adjusted profit before tax margin is anticipated to improve to around 20% over time. The sale of WBS is expected to complete in the second quarter of 2026. The completion of the acquisition of WBS by Epiris is subject to certain regulatory and non-regulatory conditions.