Fairstone completes Octagon acquisition

Wed, 27 Nov 2019 | BUSINESS SALE



Consolidator Fairstone Group has completed the acquisition of Lancashire-based advisor Octagon Wealth Management.

The acquisition represents Fairstone’s seventh of the year and highlights its downstream buyout (DBO) model. Fairstone said the deal showed the strength of the acquisition model, through which it seeks to ensure companies are fully integrated with its business before acquisition is completed, providing for a smoother transition.

The deal will add 800 clients, four advisers, five support staff, over £150 million in funds under management (FUM) and a gross fee income of £1.10 million to Fairstone.

Fairstone CEO Lee Hartley said the group was "delighted" to complete the acquisition of Octagon: "Finalising this deal with Octagon brings another valued business into Fairstone and continues our excellent growth plan for 2019."

“At Fairstone, we work hard to ensure our proposition gives firms the framework they need to significantly grow their businesses, without compromising on client service or independence.”

Octagon company principle Richard Hollington said: "While we have been integrated into the Fairstone family for over two years now, by being fully absorbed into one of the largest Chartered financial planning firms in the UK, our clients can be even more confident that we will be there for them for the long term."

Hollington and his fellow Octagon company principle Jon Routledge, said that Fairstone’s strength in size, customer-focused acquisition model and technology were the crucial factors in their decision to join the group.

“Deepening our existing relationship with Fairstone means we can take full advantage of the support offered, leaving us with more time to spend with our clients, who are the ultimate focus of our business”, Hollington added.


Share this article



Latest Businesses for Sale

Recruitment Agency
East of England, UK

Benefits from high staff retention rates and a wealth of experience within the sector. Member of the Association of Professional Staffing Companies (APSCo) as a result of its excellent offering. Ideally positioned to pursue further growth, which coul...

Asking Price: Offers Invited
Turnover: £1,700,000

LEASEHOLD


Two Partner Accountancy
Devon, UK Wide

This practice, which has been established over 80 years, is available for sale due to the impending retirement of the partners. One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers in...

Asking Price: Offers Invited
Turnover: £316,000

FREEHOLD


Multi-Partner Accountancy Practice
Powys, Wales, UK

This practice, which was established over 50 years ago, is available for sale. Consultancy: The partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers invited.

Asking Price: Offers Invited
Turnover: £300,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Jan
 

Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

 
23
 
Jan
 

MBO at Bristol-based media training firm | MBO/MBI

Mentor Media Training has been acquired by lead consultant D...

 
22
 
Jan
 

Chelmsford warehouse management firm bought by software provider | BUSINESS SALE

Chelmsford-based warehouse management solutions provider Min...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources