Thu, 18 Mar 2021 | BUSINESS SALE
Bristol-based financial planning firm Paradigm Norton has completed the acquisition of two chartered advice firms for an undisclosed amount and said it will continue to target further expansion. The businesses, Exeter-based Clover Wealth Management and Richmond-based Tower Hill Associates, will bolster Paradigm Norton’s presence in London and the South West.
Following the acquisitions, Paradigm Norton CEO Barry Horner said: “We’re going to keep growing organically and inorganically. These deals fit well with that. We’re in Bristol and Torquay at the moment so Exeter is a perfect fit for us. The Farringdon office has grown from six people when we acquired The Red House, and we’re now pushing 20 people there, so London has been a really big growth area for us.”
Horner added: "The locations and quality of these businesses couldn't be any better. We plan to continue to expand our services and footprint in London and the South West. Both firms are chartered, have a reputation for delivering outstanding client care and share our values and our vision for the future."
Post-acquisition, Tower Hill director John Lang will lead a three-year transition and it is thought that Clover Wealth Management MD Tim Burridge will also oversee a similar process. Tower Hill’s acquisition by Paradigm Norton was under discussion two years ago, before being delayed by the onset of the COVID-19 pandemic in March 2020.
These acquisitions come amid a wave of M&A in the advice and wealth management sector. This has been prompted by several factors, including the completion of legacy deals delayed by COVID-19 (as in the acquisition of Tower Hill Associates), the difficulty of generating organic growth during the ongoing pandemic and possible changes to Capital Gains Tax (CGT).
While the anticipated changes to CGT were not announced at the Spring Budget, the fear that they would be drove an M&A rush in late-2020 and early-2021 and the expectation that changes will eventually be made is continuing to drive dealmaking.
Find businesses for sale here.
If you are looking for an exit, we can help!
Long established NW based niche financial recruitment business. Sector focus on financial services, maritime and logistics and accountancy.
LEASEHOLD
Provides a comprehensive range of services, including bid management, writing and review, tender sourcing, solution design and staff training.
LEASEHOLD
Designs facilitates & delivers learning & development workshops individual & team coaching and consultancy on key areas of corporate development including hybrid & remote working leadership development individual & team development culture behaviour...
WORK FROM HOME
|
02
|
|
Aug
|
TGM Partners scoops up manufacturing firms in double acquisition | BUSINESS SALE
TGM Partners, a company specialising in the acquisition and ...
|
02
|
|
Aug
|
Victoria’s Secret UK placed into liquidation | ADMINISTRATION
It has been announced that lingerie retailer Victoria’...
|
30
|
|
Jul
|
UK insolvencies rise 31 per cent in Q2 | BUSINESS NEWS
According to figures from The Insolvency Service, company in...
Sign up to receive our acquisition alert emails to get your FREE guide
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