Wed, 18 Oct 2023 | BUSINESS NEWS
Financial planning group MRW Group has secured a tailored loan from OakNorth, in a deal that will enable the company to ramp up its buy-and-build growth strategy. After securing the loan, the company announced the acquisition of three independent financial advisers (IFAs).
The Somerset-based firm has acquired Emet Financial Services, Merlin Wealth Planning and Mayfayre Financial Services, which it will now bring together under a newly-established, independently-owned holding company. Following the acquisitions, Merlin Wealth Planning founder James Moyses and Adam Royce will join MRW Group.
Commenting on the acquisitions, MRW Group Director Steve Winter said: “The merger of Emet, Merlin, and Mayfayre brings together three established firms that share the same client-led values, with a personalised approach built on trust and stability.”
MRW Group provides services including independent financial planning, investment and pensions advice. It has more than 1,500 clients, which include both individuals and large corporates, and has over £150 million in assets under management (AUM).
The group has offices in Somerset, Cambridgeshire and Buckinghamshire and has completed 10 acquisitions since 2019, during a period of intense consolidation across the UK’s wealth management sector. The group is now targeting further expansion and will use the new tailored facility from OakNorth to accelerate its acquisition plans.
Steve Winter said: “This funding from OakNorth is an exciting next step in our ambitious and proven buy-and-build strategy. The OakNorth team invested significant time and effort to understand a complex transaction, with an outstanding level of commitment and service that we recognise from our own business.”
OakNorth Director of Debt Finance Stewart Haworth added that the transaction was “a clear demonstration of the breadth and depth of experience we have at OakNorth, and our ability to support businesses with complex transactions.”
Haworth continued: “Adam, James, and Steve have almost 70 years of IFA and M&A experience between them, so have a clear understanding of the market dynamics and opportunities. I have no doubt MRW’s buy-and-build strategy will be a huge success, and we look forward to supporting them on future acquisitions.”
Read about M&A in the financial services industry
Find out about different ways of generating funding for acquisitions amid tighter financing conditions
This well-established West Midlands IFA, managing £200m in funds under management, offers a highly profitable client base with an average household value exceeding £400k.
An exclusive opportunity to acquire a prestigious ultra-high-net-worth independent financial advisory business in Kent, managing £70m in funds under management.
An established Northern Ireland IFA presents a unique opportunity with £500k in recurring revenue and an average client value exceeding £350k, offering a portfolio of highly profitable clients.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.