An investment management firm has been bought by a London group for an undisclosed sum.

Wellian Investment Solutions, based in Tunbridge Wells, was snapped up by Mayfair-based Harwood Capital Management, an independently-owned organisation which encourages its shareholders to take an interest in running the businesses it invests in.

The Kent firm, which works with financial advisors on investments, manages assets worth more than £185 million.

Harwood said the deal would help it create a “holistic wealth management business”. It managed £1 billion of funds in 2013.

Wellian director Karen Vidler said: “The Wellian Investment Team, which has delivered such wonderful results, will now have the further backing and research facilities provided by an established and reputable team at Harwood.

“We see this as a very positive step, and a means of ensuring that Wellian has the resources to continue to deliver, while the business grows and maintains our core values of good value and integrity...” - Karen Vidler, Wellian

“We see this as a very positive step, and a means of ensuring that Wellian has the resources to continue to deliver, while the business grows and maintains our core values of good value and integrity.”

Harwood’s chief executive Alan Durrant said: “Wellian is an excellent fit for our business bringing discretionary portfolios managed on a wide range of the platforms supported by advisers.

“When combined with our range of Discovery Managed Funds, we believe we can now present a full range that will meet the needs of advisers and their clients.”

Maidstone-based accountancy firm Crowe Clark Whitehill advised on the deal.

Corporate finance partner Geert Struyven said: “Wellian’s shareholders instructed us to explore further growth opportunities for the firm, given its excellent reputation in the market place, while retaining its independent culture and ethos.

“The tie up with Harwood will enable Wellian to continue to manage its discretionary portfolios, but they will have access to a much bigger base of support, fast tracking its excellent growth opportunities.”