A multinational group of companies headquartered in Dubai has made its first move into the UK financial services sector with the acquisition of a Black Country business.
Aroma Global has purchased Wolverhampton-headquartered investment consultancy MitonOptimalPortfolio Management for an undisclosed sum as part of the group's continuing diversification into new markets and sectors.
MitonOptimal provides investment advisory services to both corporate and individual clients on a fully regulated basis as well as a range of other personal finance services.
Aroma Global said it was looking to increase the size of its team and expand the range of services it provides as part of its growth strategy for its new acquisition.
Founded in Dubai in 1997, Aroma Global employs around 6,000 people around the world, has an annual turnover of around £250 million.
It has been active in the UK since 2013, with interests ranging from construction, film production, plantations and organic farming through to real estate and hospitality.
Aroma Global director Anne Sajeev Kochumman said: "Our long-term success has been built on taking the time to establish firm foundations in every sector into which we've diversified before going on to use this as a base for growth and we'll be looking to do the same with MitonOptimal in the UK financial services sector.
"The business is very well-respected in its field, has a highly skilled team which we will be looking to expand and has the potential to grow significantly in a number of different directions.
"Moving into the UK financial services sector has been a long-term ambition for us and we have a range of ideas for how we're going to enhance our presence in it in the years to come."
RMT Accountants & Business Advisors advised the Aroma Global management team on the acquisition.
