Tue, 28 Jan 2020 | BUSINESS SALE
Tyne and Wear-based consolidator Fairstone Financial Management has completed the double acquisition of Hamlyn Financial Services and Wagstaffs Wealth Management.
The two purchases see Fairstone add £263 million in funds under management to its business and consolidate its presence in Norfolk and Hertfordshire.
Swaffham-based Hamlyn Financial Services specialises in pensions and investments. Its acquisition adds 2,500 clients, six advisers, seven support staff and £113 million in funds under management to Fairstone’s business along with gross fee income of £830,000.
Stevenage-based Wagstaffs Wealth Management is a specialist in holistic financial planning and its acquisition brings 330 clients, three advisers and four support staff to Fairstone, along with £150 million in funds under management and gross fee income of over £1 million.
The deals represent a continuation of Fairstone’s downstream buy-out model, which sees it acquire a stake in an advice company, integrate it and then complete the buyout. Last year, Fairstone acquired eight financial advice firms through this model.
Describing the two new acquisitions as a “perfect fit” for its buyout model, Fairstone chief executive Lee Hartley said: “We are delighted to complete the final acquisitions of Wagstaffs and Hamlyn, having worked closely with them through our proprietary DBO programme.”
“Both Wagstaffs and Hamlyn are dedicated to quality service and like Fairstone, take a client centric approach to business. They also share our appetite to grow and develop, making them a perfect fit. Finalising these deals brings two more valued businesses into Fairstone and is a good start to our growth strategy for 2020."
"Finalising these deals brings two more valued businesses into Fairstone and is a good start to our growth strategy for 2020."
This is an exceptional opportunity to own a Company that has a substantial and desirable 25 year plus reputation. The Company is only for sale due to the overdue retirement of one of the owners. The Company has been an industry leader in its business...
RELOCATABLE
Provides face-to-face and online training courses, consultancy work and auditing of sales effectiveness. Services offered by the business allow clients to measure the performance of individuals within their organisations, which enables organisational...
RELOCATABLE
Highly reputable recruitment consultancy fulfilling both permanent and contract vacancies within in the IT sector. Specialising in the IT sector the company has in-depth industry knowledge working closely with Higher Education Government and Healthca...
27
|
Jun
|
Administrators seek buyer for listed pharmaceutical company | ADMINISTRATION
Listed pharmaceutical firm 4D Pharma Plc has fallen into adm...
24
|
Jun
|
E-commerce imports retailer up for sale for £1.6m | BUSINESS SALE
Deals Incorporated, a Manchester-based e-commerce retailer t...
23
|
Jun
|
Auto Trader completes acquisition of Autorama at nearly 16x gross profits | BUSINESS SALE
Auto Trader has completed the acquisition of new vehicle lea...
Sign up to receive our acquisition alert emails to get your FREE guide
27
|
May
|
Fairstone makes latest acquisition in DBO model | BUSINESS SALE
Fairstone Financial Management has completed the acquisition...
30
|
Mar
|
Fairstone makes first acquisition of 2021 | BUSINESS SALE
Fairstone Financial Management has made its first acquisitio...
25
|
Feb
|
Fairstone secures further backing from PE firm TA Associates | BUSINESS NEWS
Acquisitive wealth management firm Fairstone Financial Manag...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources