Independent Dutch wealth manager Van Lanschot Kempen is to buy a 70% stake in Belgian rival Mercier Vanderlinden.
Over the next four years, the plan is to incrementally increase its ownership to 100% by the end of 2025.
Financial details were not disclosed.
The initial acquisition is expected to complete by the third quarter of 2021, pending regulatory approvals.
Van Lanschot Kempen has 11 offices in Belgium, with client assets of around €5bn.
Mercier Vanderlinden operates from three offices in Antwerp, Brussels and Waregem. It has roughly €3.4bn AUM.
The firms will continue to operate independently under their own brands, but will collaborate in a number of areas.
Mercier Vanderlinden co-founder Stéphane Mercier said: “The managing partners will retain significant stakes and will remain active in the company. This strong alliance should help us devote our full attention to what is closest to our hearts: top-notch asset management coupled with close personal relationships with our clients.
“Our family wealth will continue to be fully invested in our MercLin funds.”
Karl Guha, Van Lanschot Kempen’s chairman, said: “Our roots go back to 17th century Belgium; our partnership with Mercier Vanderlinden reflects that historical reality. This partnership fits perfectly into our strategy becoming a leading specialist wealth manager in our second home market.
“Mercier Vanderlinden’s attractive client portfolio, presence in Brussels and growth potential under the ongoing leadership of their founders make for a very appealing partner.”