Marex Group has finalized its acquisition of Winterflood Securities and simultaneously announced a deal to sell Winterflood Business Services (WBS) to Epiris Fund III, advised by UK private equity firm Epiris LLP. WBS provides outsourced dealing, settlement, and custody services to a wide range of financial clients.
As part of the transaction, Marex will retain Winterflood’s equity market-making and corporate broking operations—including the Winterflood brand and associated staff—while employees supporting WBS will transfer with the business. Marex expects the retained Winterflood operations to generate about $75 million in annual revenue, with an adjusted profit before tax margin improving toward 20%.
The sale of WBS is expected to close in Q2 2026, pending regulatory and other customary approvals. Marex said the gain on the WBS sale will more than offset the premium it paid for the Winterflood acquisition, resulting in a net gain.
KEY QUOTES:
“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.”
“I’m pleased to say our performance in November has remained very strong… we are optimistic about the fourth quarter and the year ahead.”
Ian Lowitt, Marex Group CEO
